The former chairman of crypto exchange Bithumb, Kang Jong-Hyun, was arrested in South Korea on charges of embezzlement, breach of trust, and market manipulation.
Seoul’s Southern District Court had issued an arrest warrant for Jong-Hyun and two other executives last week, one of which is the CEO of two Bithumb affiliates.
A hacker was able to manipulate the price of the AllianceBlock token on BonqDAO, which allowed him to drain close to $90 million worth of crypto from the protocol.
Both platforms have paused their services, and are currently in the process of removing liquidity as to hinder the hacker’s ability to convert the stolen tokens.
The 1,400-page document lists the names of all users eligible for withdrawals, as well as the conditions that they need to meet in order to withdraw their assets.
The bankruptcy court has permitted Celsius to return 94% of each eligible user’s assets, but only after their account has been updated with AML and KYC data.
A 700-page report from an independent examiner claims that Celsius concealed the extent to which it was market-making its own CEL token.
The examiner also found instances where Celsius used new customer funds to cover the liabilities of other customers, a behavior described as “very Ponzi like”.
Currently in its beta launch phase in Brazil, the Binance Card will allow its holders to make payments and purchases using 13 supported cryptocurrencies.
Brazil has become the second country in Latin America to receive the product, following a similar announcement in Argentina in August 2022.
Australia’s financial regulator raised concerns over some products offered by FTX Australia shortly after it began operating in the country.
Internal documents show the regulator requested information from the exchange three times, and that FTX Australia was under “surveillance activity” prior to its collapse.
Bankrupt crypto exchange FTX has filed a massive 115 page document listing every entity the company owes money to, from Big Tech players to government agencies.
The names of close to 9.7 million individual customers were redacted from the document as per Judge John Dorsey’s instructions.
Former CEO of FTX Sam Bankman-Fried leaves the Federal Court in New York after pleading not guilty, 3 January, 2022. lev radin/Shutterstock
The newly launched ecosystem fund is backed by Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, Flow Traders, Gate Labs and IDG Capital.
Highest priority will be given to interoperability and DeFi projects, but the fund will also support developers that are building trading platforms, scalability solutions, and PoS infrastructure.
Due to Celsius’ prior agreement with Flare, the U.S. bankruptcy court has authorized the crypto lender to credit eligible account holders with the FLR they were entitled to.
During the Tuesday hearing, Celsius’ lawyers proposed a new plan to reorganize the company, and issue a new token that would entitle its holders to receive dividends over time.