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Cryptocurrency Scam Defrauds Over 42,000 Victims of $32 Million
An investigation by blockchain security firm Blockfence has uncovered an elaborate cryptocurrency scam that defrauded more than 42,000 victims out of over $32 million. The fraud scheme involved the creation of fake cryptocurrency projects designed specifically to lure in victims and trap their funds in so-called “rug pull” exit scams. https://twitter.com/blockfence_io/status/1745861887101993301 Key tactics uncovered in......
Crypto Pyramid Scheme: German CEO Charged with $150 Million Fraud
U.S. prosecutors on Friday announced charges against German citizen Horst Jicha for allegedly defrauding tens of thousands of investors out of more than $150 million through a crypto pyramid scheme. Jicha, founder and former CEO of USI Tech, was arrested in Miami last month and arraigned in federal court in Brooklyn on four counts, including......
Court Orders Independent Investigation into FTX Collapse
A federal appeals court ruled Friday that cryptocurrency exchange FTX must face an independent investigation by a court-appointed examiner, overturning an earlier bankruptcy court decision. The ruling from the Third Circuit Court of Appeals in Philadelphia remands the matter back to the Delaware bankruptcy court overseeing FTX’s Chapter 11 case. Key details: The Appeals Court......
50% or Lower Odds of SEC Approving Spot Ethereum ETF by May: JPMorgan
The prospects of the Securities and Exchange Commission (SEC) approving a spot Ethereum (ETH) ETF by May 23rd stand at no higher than 50%, according to analysts at investment bank JPMorgan. In a research note on January 18, a team led by managing director Nikolaos Panigirtzoglou expressed that some investors expect the SEC to classify......
🥛 Crypto’s next big battle ⚔️
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Bitcoin ETFs Surpass Silver ETFs in Assets Under Management
Bitcoin ETFs have exceeded silver ETFs in terms of assets under management (AUM), according to industry experts. Driven by substantial market interest, Bitcoin ETFs have quickly grown to become the second largest single commodity ETF in the country by AUM. Spot Bitcoin ETFs, including the conversion of Grayscale's GBTC trust, now hold approximately 647,651 Bitcoin......
Chinese Crypto Users Turn to In-Person Trades To Evade Crackdown
Cryptocurrency users in China have adapted to under-the-radar in-person trades and encrypted messaging to keep digital asset dealing alive amid the country's broad industry crackdown, reports the Wall Street Journal. Sources told the WSJ that Chinese crypto traders shifted trading to everyday venues like cafes and laundromats to discreetly swap wallet addresses and cash after......
Crypto Crime Drops in 2023 to $24.2 Billion: Chainalysis
A new Chainalysis report on cryptocurrency crime trends shows an overall reduction in illicit crypto activity in 2023, though some forms of crypto-based crime are on the rise. The 2024 Crypto Crime Trends report from blockchain analysis company Chainalysis estimates that the total value received by illicit cryptocurrency addresses dropped to $24.2 billion in 2023.......
🥛 58% of cryptocurrencies are dead. Here’s why… 👀
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Tether Makes $380,000,000 Bitcoin Purchase, Holds 66,465 BTC
Major stablecoin issuer Tether purchased $380 million worth of Bitcoin at the end of last quarter, its third-highest buy yet as the company continues shifting reserves into cryptocurrencies. The latest 8,888 BTC acquisition brings Tether's total Bitcoin holdings to over 66,465, worth some $2.8 billion, according to The Block. Tether began its Bitcoin buying spree......
