Tether Ordered to Provide Documents Connected to USDT Backing
- The stablecoin issuer was order to produce a number of financial documents, as well as records of crypto trades, transfers, and its accounts with crypto exchanges.
- The order was made as part of a case that was started in 2019 by a group of investors, who alleged the company had manipulated the crypto market in 2017.
September 21, 2022, 4:22 PM
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BitGo Files $100M Lawsuit Against Galaxy Digital
- The crypto custodian is seeking more than $100 million in damages from Galaxy Digital for the “intentional breach” of its $1.2 billion acquisition deal.
- BitGo noted the complaint was filed under seal as to give Galaxy Digital the opportunity to redact “some of the allegations before the complaint becomes public”.
September 13, 2022, 6:11 PM
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Celsius Sues Prime Trust Over $17M in Crypto
- The crypto lender claimed Prime Trust returned $119 million in crypto when the two broke their relationship in 2021, but still held over $17 million in tokens.
- Celsius’ legal team noted that the 398 BTC, 3,740 ETH, 2,261,448 USDC, and 186,268 CEL should have been returned immediately after Celsius filed for bankruptcy.
August 24, 2022, 8:38 AM
Alex Mashinsky, founder and CEO of Celsius, speaking at CoinDesk’s Consensus conference, September, 2019. CoinDesk
Crypto Bank Sues Federal Reserve Over Application Delay
- Custodia had already received confirmation from the Kansas Fed that its application was complete and had “no showstoppers”, but is yet to receive approval even after 19 months.
- Custodia’s complaint notes that a master account, which provides institutions with direct access to the Fed’s payment system, is “vital” for its business.
June 8, 2022, 10:27 AM
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Jun 2, 2022
CFTC Sues Gemini Over 2017 BTC Futures Contract Evaluation
- One of the main points of the complaint is that Gemini provided misleading information on how susceptible to manipulation the BTC futures contract could be.
- The CFTC seeks disgorgement of ill-gotten gains, civil monetary penalties, injunctions relating to registration and trading, and an injunction against further violations of the Commodity Exchange Act.
Oct 18, 2021
Scammers Steal $65,000 As YouTube Search Results Recommend Fake Apple Event Video
- The scammer impersonated Apple, taking advantage of the highly anticipated October 18 event by the company.
- No BTC was stolen, but more than 17 Ethereum were swindled out of their three owners.
Sep 16, 2021
Crypto Fund Manager Sentenced to 7.5 Years in Prison
- The Australian national embezzled almost $55 million in investor funds for personal gain.
- He ran and operated the Virgil Sigma Fund and VRQ Multistrategy Fund in New York from 2017 to 2020.
Sep 2, 2021
SEC Sues BitConnect and Founder for Alleged $2B Fraud
- BitConnect’s founder Satish Kumbhani was charged with conducting a $2 billion security fraud.
- The SEC also charged a BitConnect promoter, who recently pled guilty for stealing $24 million from investors.
Jul 5, 2021
Former Cryptopia Employee Pleads Guilty to Stealing $175,000 Worth of Crypto
- The man admitted to stealing around $175,000 worth of BTC and other cryptocurrencies from Cryptopia’s old deposit wallets.
- The funds were subsequently returned and the theft wasn’t connected to the 2019 hack, court documents showed.
Mar 30, 2021
SEC Accuses LBRY of Selling Unregistered Securities
- The SEC has requested a permanent injunction against LBRY, prohibiting it from further selling its LBC token.
- The decentralized content publishing platform has echoed Ripple’s statement that these lawsuits were a “tremendous threat” to the entire crypto industry.