U.S. authorities have seized seven domains used in “pig butchering” cryptocurrency schemes. “Once the money is sent to the fake investment app, the scammer vanishes, taking all the money with them, often resulting in significant losses for the victim,” the Department of Justice warned. 7 Domains Used in Pig Butchering Crypto Scam Seized The U.S.
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A crypto wallet belonging to the shutdown crypto exchange BTC-e has just moved 10,000 Bitcoin (BTC), currently worth over $165 million, to various exchanges, personal wallets, and other sources on Nov. 23. A Nov. 23 Chainalysis report suggested while this withdrawal is the largest made by BTC-e since April 2018, BTC-e and WEX — an
Australians have been warned to stay away from suspicious-looking fake Bitcoin paper wallets, which work by luring victims into accessing a lucrative crypto wallet but will ultimately drain them of their own crypto holdings. According to a Nov. 22 post on the Facebook page of the NSW Police Force, the scam starts as a paper
The CEO of fintech firm Block Earner has lashed out over the “lack of clarity” in Australia’s financial licensing regime after his company was sued by the country’s financial services regulator for providing unlicensed crypto-based investment products. The Australian Securities and Investment Commission (ASIC) announced on Nov. 23 local time that it started civil legal
A Ripple executive says there is one important lesson from the meltdown of crypto exchange FTX that he “can say with total confidence will not be learned.” The executive added: “Regulation that punishes after the fact won’t catch it. Investor due diligence won’t either.” One Lesson From FTX Collapse That Won’t Be Learned The CTO
Former FTX CEO Sam Bankman-Fried has once again attracted the ire of the crypto community — this time over his slated appearance at an upcoming New York City conference on November 30. Vocal members of Crypto Twitter have questioned why the former CEO of the now-bankrupt exchange continues to walk free given the events over the
Blockchain analysis firm Chainalysis has compared the fall of Mt. Gox to FTX to determine how FTX’s bankruptcy will impact the ecosystem. It concluded that FTX was a relatively smaller part of the crypto industry than Mt. Gox was at the time and that the industry should bounce back stronger than ever. In a Nov.
U.S. Congressman Tom Emmer says the FTX meltdown is not a crypto failure but a failure with SEC Chairman Gary Gensler, former FTX CEO Sam Bankman-Fried, and centralized finance. “We need to get to the bottom of this. We need to understand why Gary Gensler and the SEC were not doing their job,” the lawmaker
The Dubai Multi Commodities Centre (DMCC) has announced a new partnership with the firm Comtech Gold in order to digitize gold trading. The DMCC said the tokenized precious metals are backed by DMCC Tradeflow-registered gold bars, and each tokenized gold bar “will be backed by a Tradeflow warrant.” DMCC to Digitize Tradeflow-Registered Gold Bars via
On Tuesday, amid the many conversations concerning crypto exchange proof-of-reserves, Kraken executive Jesse Powell shared a screenshot of coinmarketcap.com’s newly launched proof-of-reserves (POR) dashboard. Powell said he planned to be “more assertive with calling out problems,” and he stressed that a POR audit “requires cryptographic proof of client balances and wallet control.” Jesse Powell Stresses
Bitcoin (BTC) faced a 7.3% drop between Nov. 20-21 as it tested the $15,500 support. While the correction seems small, the movement has caused $230 million in liquidations in futures contracts. Consequently, bulls using leverage came out ill-prepared for the $1.14 billion monthly options expiry on Nov. 25. Bitcoin investors’ sentiment worsened after Genesis Trading,
Two Democratic members of the United States Senate have called on the Justice Department to investigate the collapse of FTX and potentially prosecute individuals involved in wrongdoing. In a Nov. 23 letter to U.S. Attorney General Merrick Garland and Assistant Attorney General Kenneth Polite, Senators Elizabeth Warren and Sheldon Whitehouse requested the Justice Department launch
A 6-year veteran of the crypto industry, Andrew Weiner serves as the Vice President of MEXC Global. As the former executive of RegTech and digital identity pioneer iComplyKYC, he worked with notable brands that include Thomson Reuters, ComplyAdvantage, IBM, Mastercard, Deloitte, and KPMG to deliver innovative solutions to Virtual Asset Service Providers in over 170+
Following the significant amount of criticism directed at mainstream media publications for a lack of journalistic integrity while reporting on FTX executives, Tesla’s executive Elon Musk called out the news website Semafor because the former FTX CEO Sam Bankman-Fried (SBF) was a lead investor. Musk took to Twitter and let Semafor know that he believes
USD Coin (USDC), a stablecoin issued by the U.S.-based Circle Financials Ltd, is taking the lead over its top rival, Tether (USDT), when it comes to institutional adoption, according to on-chain data. USDC daily transfer volumes are higher The market capitalization of USDC tokens in circulation comes to be around $44 billion versus USDT’s $65.42
While the crypto community has been eagerly focused on the developments surrounding Genesis Trading and Digital Currenc Group (DCG) over the past few days, Ripple Labs continues to battle the U.S. Securities and Exchange Commission (SEC). And the next important deadlines are already looming. By November 30, both Ripple and the SEC have to file
The crypto market often runs on a cycle of highs and lows. Conscious investors leverage the lows to enrich their wallets with assets awaiting the bull run. This quarter’s bearish trend is no exception. The past few weeks in the crypto market have been filled with massive losses following the FTX collapse. The extreme macroeconomic
Bitcoin (BTC) lingered near $16,500 at the Nov. 23 Wall Street open as United States markets awaited Thanksgiving cues. Grayscale, GBTC still dominate crypto mood Data from Cointelegraph Markets Pro and TradingView showed BTC/USD shunning volatility after fresh two-year lows the day prior. The pair left analysts guessing the day before U.S. markets closed for
Law enforcement officers from Estonia and the United States have arrested two men for allegedly committing a large-scale cryptocurrency fraud. The Estonian nationals, who ran a crypto mining service and a fake virtual currency bank, laundered their proceeds, spent on cars and real estate, and donated to a politician. Estonian Police, FBI Detain 2 Crypto
Blockchain analytics carried out by a Nansen researcher has highlighted outflows of Ether (ETH) and stablecoins from centralized exchanges in the wake of FTX’s collapse. Nansen research analyst Sandra Leow posted a thread on Twitter unpacking the current state of Decentralized Finance (DeFi), with a specific focus on the movement of ETH and stablecoins from