Legal

Telegram To Pay $18.5 Million In Civil Penalty

  • Signed by a judge on Friday, the final judgement requires Telegram to pay back $1.2 billion to investors.
  • The firm will have 30 days to pay $18.5 million in penalties, and is also required to notify the SEC if it plans to issue another digital asset in the next 3 years.
Pavel Durov, CEO and founder of Telegram, speaks at a conference. Reuters

  • Signed by a judge on Friday, the final judgement requires Telegram to pay back $1.2 billion to investors.
  • The firm will have 30 days to pay $18.5 million in penalties, and is also required to notify the SEC if it plans to issue another digital asset in the next 3 years.
Picture of Craig Wright, the self-proclaimed Satoshi Nakamoto. Cryptonary

Judge Denies Motion For Sanctions Against Craig Wright, Accepts Autism Defense

  • Now that the motion to impose sanctions on Craig Wright has been denied, the case is clear to go to jury trial.
  • The judge will also allow Wright to summon a clinical psychologist as an expert witness.
Alexander Vinnik, former owner of the now defunct BTC-e crypto exchange, arrives at a court in Greece on October 4, 2017. Sakis Mitrolidis/AFP via Getty Images

New Zealand Authorities Seize $90M Connected To Now Defunct BTC-e Exchange

  • The New Zealand Asset Recovery Unit reportedly coordinated with the U.S. IRS in order to address the lost funds.
  • Vinnik was extradited to France earlier this year, and has been charged with counts of extortion and aggravated money laundering.

Investors In Alleged $17M Crypto Scam To File Lawsuit Against CEO

  • Willie Breedt has allegedly stolen $17 million from 2,000 investors.
  • Breedt is already under investigation from South Africa’s Directorate for Priority Crime Investigation for falsifying proof of payment documents.

Telegram’s Court Battle With SEC Officially Over

  • The firm has now dropped its appeal against the U.S. federal court’s injunction, which forbade the distribution of its Gram tokens.
  • Though Telegram has thrown in the towel, the TON blockchain dream is not over, with the "Free TON" community's launch of their own version of the project.

Craig’s Lies Continue: Kleiman Alleges Wright Possesses Key To Encrypted BTC File

  • The plaintiff's legal team points to the movement of $1.6 million in BTC from addresses contained in Craig Wright's list.
  • A Redditor, who studies all lists in great detail, explains that all three lists have recently been active.

Block.​One Facing Class Action Lawsuit Over EOS ICO, Again

  • The new class action complaint accuses the firm of taking $200 million from U.S. investors during its ICO.
  • The development comes only months after the firm paid $24 million to the SEC, after an investigation into the ICO.

Visa Files For “Digital Fiat Currency” Patent

  • The U.S. dollar was specifically mentioned as a potential fiat currency to be used.
  • Consensus mechanism for the blockchain has still not be chosen, though proof of stake was given as an example.

17,000 Users Have Filed Claims For Reimbursement From QuadrigaCX

  • The Canada Revenue Agency has to file a tax claim against Quadriga before any funds can be distributed to former users of the exchange.
  • Affected users filed claims for funds in most of the major cryptocurrencies.

Telegram To Hand Over Bank Records, Communications To SEC

  • The messaging app has until 20 May to turn over all requested documents and answer questions regarding any bank records that have already been produced.
  • The agreement was signed only a day after a fork of the TON blockchain was launched.

New Lawsuit Alleges XRP Sale Violated Security Laws

  • The new allegations are coming from the same firm which unsuccessfully tried to sue crypto derivatives exchange FTX for $150 million in November 2019.
  • The company, Bitcoin Manipulation Abatement, is looking to "recover damages" and obtain "compensatory damages".

J.P. Morgan Chase Settles Lawsuit Over High Credit Card Crypto Charges

  • The original complaint was looking to have J.P. Morgan Chase refund all wrongfully made charges, and pay $1 million in statutory damages.
  • Even though we have no details of the settlement, we do know that all parties now have 75 days to submit their stipulations of settlement.

Qatari Billionaire Sues Facebook Over Fake Crypto Ads

  • Wissam Al Mana, Janet Jackson's ex-husband, is now suing Facebook for defamation after a crypto scam used his image to promote itself on the social platform.
  • Estimated to be worth around €1 billion, the Qatari business magnate does not operate any social media accounts.

SEC Settles Charges Against Enigma’s $45M Token Sale

  • "Harmed investors" will have the options to receive a refund with interest through a claims process, or keep their tokens.
  • The firm will also have to register its tokens as securities, file periodic reports with the SEC, and pay a $500,000 fine.