In a recent development, Logan Paul, the renowned YouTuber and influencer, has declared a new initiative to recompense investors of his CryptoZoo NFT game. After a year of anticipation, Paul has pledged a $2.3 million personal fund to buy back NFTs from the undelivered game. CryptoZoo, a blockchain-based game announced in August 2021, promised a play-to-earn ecosystem where […]

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Chinese authorities have unearthed a colossal $2.2 billion underground forex operation, intricately linked to virtual currency trading platforms. This action highlights China’s stringent approach to controlling financial transactions across its borders. The Qingdao Branch of the State Administration of Foreign Exchange’s Inspector, Xu Xiao, shed light on the mechanism of the scheme. Underground banks were buying […]

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Security specialists caution that 2024 may bring a new wave of AI-driven scams that could outpace current defenses. Last year’s $1.7 billion loss to fraud was a significant drop from 2022’s $4 billion, yet the threat level is far from diminishing. Blockchain analyst Jesse Leclere from CertiK urges the community to stay alert. He highlights that phishing […]

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Nigerian authorities have apprehended Wilfred Bonse, a public figure entangled in the embezzlement of sizeable digital assets. The Nigerian Police Force, bolstered by its National Cybercrime Center, reported the capture of Bonse, linking him to the unauthorized siphoning of over ₦200 million ($246,153) from the fintech firm’s cryptocurrency wallet. Olumuyiwa Adejobi, the force’s spokesperson, stated, […]

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Recent $9 million insurance fund exploit, dYdX’s Antonio Juliano has made a clarion call for community assistance, eschewing negotiations with the perpetrators. On November 17, the DeFi protocol dYdX was thrust into the limelight as its v3 chain became the arena for a sophisticated financial breach, which Juliano confirmed did not impact the dYdX chain […]

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Cybersecurity authority Steve Weisman lent his support to the legislative initiative spearheaded by Senator Elizabeth Warren, aimed at bolstering the defenses against digital asset scams. The bill, known as the Digital Asset Anti-Money Laundering Act, is Warren’s response to a troubling surge in cryptocurrency frauds, particularly those preying on the elderly. Senator Warren raised the […]

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In a recent legal development, a Parisian developer has admitted to wire fraud in connection with a counterfeit NFT project titled Mutant Ape Planet. This project, which mimicked the popular Mutant Ape Yacht Club series, has placed its originator at risk of a substantial prison sentence, as confirmed during court proceedings in New York. Authorities […]

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In an unprecedented legal outcome, Sam Bankman-Fried, the founder of the defunct cryptocurrency exchange FTX, has been convicted on all charges in a high-profile fraud case. The verdict, delivered by a federal jury, marks a pivotal moment in financial justice, as Bankman-Fried was found culpable of misappropriating billions from the exchange’s customers. The conviction, handed […]

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FTX’s founder, Sam Bankman-Fried, unequivocally stated his innocence while testifying in a federal courtroom. Accused of defrauding his customers to the tune of billions, he stepped up to shed light on his actions – or, as he asserts, the lack of fraudulent ones. “Did you defraud anyone?”, asked Mark Cohen, his attorney. “No, I did […]

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In the volatile landscape of cryptocurrency trading, FTX users are facing a new email scam that promises immediate asset withdrawals. The scam is striking amid existing legal complexities involving the exchange and its former CEO, Sam Bankman-Fried. Sunil, an online advocate for FTX creditors, initially spotlighted the deceptive emails. These messages pose as official communications […]

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