In a landmark federal case, two men were sentenced for manipulating the price of a cryptocurrency and defrauding investors, marking the first instance where “a jury in a federal criminal trial found that a cryptocurrency was a security and that manipulating cryptocurrency prices was securities fraud,” said the head of the Justice Department’s Criminal Division. […]
The U.S. Department of Justice (DOJ) announced on Friday that Robert Wesley Robb, 46, from Colorado, pled guilty to wire fraud for deceiving investors with false promises about a Maximum Extractable Value (MEV) cryptocurrency trading bot. Robb solicited investments via social media, claiming high returns and pressuring individuals to invest quickly. On Sept. 8, 2023, […]
India’s Enforcement Directorate (ED) has cracked down on a cryptocurrency fraud ring targeting a foreign national. The accused persuaded the victim to transfer $ 400,000 to a cryptocurrency account set up using unauthorized remote access. The ED seized digital evidence, froze fixed deposits, and confiscated jewelry connected to the case. The investigation is still …
Two citizens, Chan Wing-yan and Herbert Lee Sun-him, have filed the first civil lawsuit against the cryptocurrency platform JPEX, seeking to recover approximately 240,000 units of tether, worth about HK$ 1.85 million. This marks the first civil lawsuit since the alleged fraud was uncovered nine months ago. The plaintiffs allege unauthorized transfers of their …
Ukrainian authorities have dismantled a criminal ring defrauding citizens across Ukraine, Moldova, Kazakhstan, and the European Union through deceptive call centers promising lucrative cryptocurrency investments. The National Police of Ukraine detained 14 suspects, including the alleged organizers, and seized 12 luxury cars, 136 units of computer equipment, 951 SIM cards, 455 starter packs, and significant […]