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Lawsuits

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.

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.

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.

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.

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.

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.

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.

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.

Mt. Gox Creditors Could Soon Claim 90% of Remaining Bitcoins

  • A new deal between Mt. Gox's trustee and Fortress will enable creditors to claim 90% of the exchange's remaining Bitcoin.
  • If the majority of creditors agree, they would be reimbursed directly from the Mt. Gox trust.

Visa & Plaid’s Merger Blocked by DoJ Antitrust Suit

  • The U.S. DoJ has alleged that Visa was using the acquisition to snuff out its competition.
  • The planned $5.3 billion acquisition was canceled almost one year after it was announced.