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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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.
June 2, 2022, 6:59 PM
Founders of Gemini Tyler Winklevoss (L) and Cameron Winklevoss speak onstage during TechCrunch Disrupt NY 2015 on day 3 at The Manhattan Center on May 6, 2015 in New York City. Noam Galai/Getty Images for TechCrunch
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.
October 18, 2021, 7:59 PM
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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.
September 16, 2021, 9:27 AM
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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.
Mar 17, 2021
Florida Teen Pleads Guilty to Twitter Bitcoin Scam
- The teenager tricked Twitter employees into giving him access to the customer service portal.
- Alongside two accomplices, the teen defrauded people out of $118,000 worth of BTC.
Mar 16, 2021
BitMEX Executive Surrenders to U.S. Authorities, Pleads Not Guilty
- Ben Delo has pleaded not guilty to charges of violating U.S. anti-money laundering laws, and was granted a $20 million bail.
- Delo, Arthur Hayes and Samuel Reed have all agreed to cooperate with U.S. authorities, while Gregory Dwyer continues to remain at large.
Feb 23, 2021
Bitfinex, Tether to Cease Operations in NY, Pay $18.5M Fine
- After settling with the Office of the New York Attorney General, Bitfinex and Tether were ordered to introduce transparency measures.
- Alongside a hefty fine, the companies will have to ensure the OAG that their corporate and client accounts remain segregated.