TLDR: 99 people arrested in raid on crypto scam hub in Parañaque City, Philippines Scam involved cryptocurrency investment fraud and romance scams 67 foreign nationals and 32 Filipinos arrested, including Chinese managers Company was unregistered and forced employees into fraudulent activities Charges being prepared under cybercrime and securities regulations laws On August 22, 2024, Philippine…
TLDR: Zhang Moumou, leader of a massive crypto pyramid scheme, extradited from Thailand to China First economic crime suspect extradited from Thailand to China since 1999 treaty MBI Group scheme involved over 10 million people and 100 billion yuan ($14 billion) Zhang arrested in Thailand in 2022 after fleeing China in 2020 Extradition marks milestone…
TLDR: Rhode Island resident Agustin Villa pleaded guilty to money laundering conspiracy The operation laundered over $25 million using cryptocurrency Villa faces up to 20 years in prison and a fine of up to $500,000 The case involved an international drug trafficking ring led by Jin Hua Zhang Funds were traced to various countries including…
TLDR: Andreas Szakacs, co-founder of OmegaPro, arrested in Istanbul for alleged $4B crypto scam OmegaPro operated as a Ponzi scheme, promising high returns on crypto/forex investments Company collapsed in late 2022, ceasing all withdrawals and operations by July 2023 Szakacs obtained Turkish citizenship under the name Emre Avci before arrest Authorities seized cold wallets and…
The Brazilian Securities Regulator (CVM) approved a solana spot exchange-traded fund (ETF) on Tuesday, the second of its kind in the country. According to data from the CVM database, this new instrument will be offered by Hashdex, a Brazil-based cryptocurrency asset management company with nearly a billion in assets under management held locally, in partnership…
TLDR: CluCoin founder Austin Michael Taylor pleaded guilty to wire fraud Taylor stole $1.14 million from investors for online gambling The FBI will use NFTs to notify victims of the fraud scheme Taylor faces up to 20 years in prison Sentencing is scheduled for October 31, 2024 Austin Michael Taylor, the 40-year-old founder of the…
TL;DR Ripple plans to launch a stablecoin called Ripple USD (RLUSD) on the XRP Ledger and Ethereum, aiming to bridge crypto with traditional finance. A few days ago, Ripple minted the first portion of RLUSD tokens as part of a private beta testing. The Latest Development Ripple became the talk of the town earlier this…
Yellow Card, a leading stablecoin platform, has partnered with Fireblocks, a digital asset infrastructure provider, to improve cross-border transactions in Africa. By leveraging Fireblocks’ technology, Yellow Card aims to provide secure and efficient on-chain solutions for businesses and individuals. This includes using Fireblocks’ Wallets-as-a-Service (WaaS) to manage and protect customer assets. This partnership addresses the…
TL;DR Donald Trump has shifted to supporting cryptocurrencies, aiming to make the US a global crypto leader if elected. His endorsement of a new crypto platform and rising political support could be among the reasons boosting the prices of several Trump-themed meme coins. Trump’s Latest Pro-Crypto Move One of the main US presidential candidates –…
TLDR: FLOKI price surged 12.8% in 24 hours, leading the crypto market Binance will support Simon’s Cat (CAT) token airdrop for FLOKI holders FLOKI DAO approved $200,000 USDT investment in CAT tokens New exchange listing on ByBit and bullish technical analysis Analyst predicts potential 96% price surge for FLOKI The meme cryptocurrency FLOKI has experienced…