Federal judge declares EminiFX a Ponzi scheme, ordering $228M in restitution to victims and appointing a receiver. The ruling caps a yearslong probe and signals tougher enforcement of high-yield, crypto-style investments.
Australia’s regulator has ordered an independent audit of Binance’s anti-money laundering controls, citing systemic compliance concerns and pressing for rapid remedial measures to protect consumers and market integrity.
A Russian national is under investigation for allegedly laundering $530 million in cryptocurrency through Tether. Authorities claim the scheme utilized complex transactions to obscure the origin of the funds, raising concerns over regulatory practices in the crypto space.
Two men in the UK have been sentenced to prison for their involvement in a $2 million cold-calling cryptocurrency scam. This case underscores ongoing efforts by law enforcement to address fraudulent activities in the rapidly evolving digital currency sector.
In a striking turn, hackers linked to a $140 million heist in Brazil are reportedly utilizing cryptocurrency to launder their proceeds. This shift highlights the growing intersection of cybercrime and digital currencies, raising concerns for law enforcement and regulators alike.
Ponzi schemes thrive on enticing returns, drawing in new investors to fund payouts for earlier ones. This deceptive cycle ultimately leads to collapse when recruitment falters, leaving participants with substantial losses. Awareness is key to prevention.
Celsius founder Alex Mashinsky has been sentenced to 12 years in prison after being convicted of fraud. His actions deceived investors and contributed to the downfall of the crypto lending platform, raising serious concerns over regulatory oversight in the industry.
Indian authorities have arrested the alleged founder of Garantex, a cryptocurrency exchange, at the request of U.S. officials. The arrest highlights ongoing international efforts to combat money laundering and regulate the digital currency landscape.
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A money launderer accused of transferring funds from scam victims now faces up to 20 years in U.S. prison. The defendant allegedly utilized complex financial schemes to conceal the origins of the stolen money, highlighting ongoing challenges in combating fraud.