Legal

Report: Korean Police Seize Largest Local Crypto Exchange Bithumb

  • The exchange reportedly pre-sold BXA tokens worth around $25 million without listing the token afterwards.
  • The assets were issued concerning the acquisition of Bithumb by BK Group, which, after prolonged negotiations earlier this year, withdrew from the deal.
South Korean police vehicle, photographed on 14 February, 2009. Flickr/South Korea Police/Wikimedia Commons

  • The exchange reportedly pre-sold BXA tokens worth around $25 million without listing the token afterwards.
  • The assets were issued concerning the acquisition of Bithumb by BK Group, which, after prolonged negotiations earlier this year, withdrew from the deal.
Illustration from Freepik

Tezos’ 3 Year Lawsuit Ends In $25M Settlement

  • The judge in the case has noted that the agreement was "fair, reasonable, and adequate".
  • One third of the settlement, $8.5 million, will go towards attorney fees, which leaves $16.5 million for the participants in the ICO.
Illustration from Freepik

Binance Helps Ukraine Take Down Crypto Laundering Group

  • The exchange started assisting the Ukrainian Cyber Police in early 2020, under its "Bulletproof Exchangers" project.
  • The investigation was mainly conducted by the exchange's internal risk intelligence unit, Binance Sentry, and analytics firm TRM Labs.
Exterior signage on the front of the United States Post Office building in Scottsdale, Arizona on May 25, 2017. Jessica Kirsh/Shutterstock

US Postal Services File For Blockchain-Based Mail-In Voting Patent

  • The USPS has proposed a number of different frameworks and concepts around its central idea of blockchain-based voting.
  • The news follows recent comments from President Donald J. Trump concerning the funding of the mail service.

Bittrex, Poloniex Motion For Summary Judgement, Tether Denies Allegations

  • The motion for summary judgement is on the grounds that the Plaintiffs are unable to "prove the central premise of their claims".
  • The two exchanges were added to the lawsuit as defendants in June.

Plaintiffs Settle With OneCoin Co-Founder

  • On Thursday, Konstantin Ignatov settled with plaintiffs Donald Berdeaus and Christine Grablis, the representatives of OneCoin investors.
  • Konstantin is no longer facing 90 years of prison time.

Twitter Hacker’s Bail Set At $725K

  • The 17 year old "mastermind" had 400 BTC confiscated by authorities last year during an investigation.
  • In order to carry out the hack, the ringleader reportedly had help from a 19 year old U.K. resident, and a 22 year old Florida resident.

Chinese Police Arrest 27 Suspects Allegedly Behind PlusToken’s $5.7 Billion Bitcoin Scam

  • This is the first time that Chinese police act to bring down a large-scale Ponzi scheme using BTC as a means of exchange.
  • Investigators have so far uncovered 109 alleged leaders and core members, operating from countries all over the world.

Steve Wozniak Sues YouTube Over Bitcoin Scams

  • Woz accuses YouTube of using his name and likeness to profit from bitcoin scams.
  • He filed a complaint, claiming that the company has violated his right of publicity and aided fraudulent activities on the platform.

SEC Charges Abra For Offering Unregistered Synthetic Swaps

  • Abra was found to be responsible of conducting illegal security-based swaps on U.S. soil.
  • In a classic move, the organization neither admitted nor denied the charges.

New York State Attorney General Restarts Investigation Of Tether

  • Tether co-founder and presidential candidate Brock Pierce is not officially part of the investigations yet.
  • The attorney general claims that $850 million were already sent to a third-party payment processor.

Bitfinex Appeal Over $850M In Lost Funds Rejected

  • Bitfinex's appeal claimed that the firm was not under the jurisdiction of New York.
  • The court pointed out in its rejection that the New York AG was looking for documents dating back to 2015, and that Bitfinex was serving New York customers until 2017.

Former Crypto Company CEO Declared Bankrupt As Pressure From Investors Mounts

  • One of VaultAge Solutions' biggest investors, Simon Dix, filed a sequestration order in the Gauteng High Court in Pretoria.
  • Some of Breedt's possessions, including a Ledger Nano stick, have been confiscated by the authorities.

Singapore Man Found Guilty Of Promoting OneCoin

  • The 52-year old man has been fined $72,000.
  • Using a referral program similar to pyramid schemes, the man and his team were able to sign up 1,180 people from Singapore and other countries.