News – Page 43

US DOJ Indicts Three Individuals Involved in $1.89 Billion Crypto Fraud Scheme

The US Department of Justice (DOJ) has brought charges against three people for defrauding investors of nearly $2 billion. According to the DOJ, the individuals promoted a fraudulent cryptocurrency investment program that promised investors high returns. Sam Lee, an Australian living in the United Arab Emirates (UAE), and American citizens Rodney Burton and Brenda Chunga, perpetrated the $1.89 billion crypto fraud with an investment scheme called HyperFund. Between June 2020 and November 2022, Lee and his promoters allegedly claimed that investors would get 0.5% to 1% daily in passive rewards.

Source: Anthonia Isichei, 2024-01-31; https://cryptopotato.com/us-doj-indicts-three-individuals-involved-in-1-89-billion-crypto-fraud-scheme/

Here’s How This Trader Turned 1 ETH into $59K in 11 Hours

A trader has recently managed to make a substantial profit of $59,000 in just 11 hours from an initial investment of 1 ETH. The trader managed to do this by leveraging the MINER token based on the ERC-404 token standard and using strategic high-gas transactions. Lookonchain Analytics shared insights into their strategy through a post on X.com. The investor began by withdrawing 1 ETH from the popular cryptocurrency exchange Binance and invested a mere 0.065 ETH ($163) to purchase 1073 units of the token known as MINER.

Source: Wayne Jones, 2024-02-13; https://cryptopotato.com/heres-how-this-trader-turned-1-eth-into-59k-in-11-hours/

Ark 21Shares Becomes Third Bitcoin ETF to Top $1 Billion After Big Inflow Day

Ark Invest reported that its ARKB ETF had crossed $1 billion in Bitcoin holdings. The milestone was also commented on by Bloomberg ETF analyst James Seyffart. According to , Ark 21Shares did indeed have a big day with $135.5 million in BTC inflows. Fidelity also had a with $188.4 million, the highest for the firm this week. Grayscale continues to see outflows, but they have slowed considerably. On Friday, around $51.8 million in Bitcoin left the fund, the lowest outflow figure for the week.

Source: Martin Young, 2024-02-12; https://cryptopotato.com/ark-21shares-becomes-third-bitcoin-etf-to-top-1-billion-after-big-inflow-day/

Dogecoin (DOGE) Network Hits New Milestone With Record-Breaking New Addresses

Dogecoin saw a 1,100% increase in new addresses over the past week. January 29 marked a significant milestone with an unprecedented creation of 247,240 new DOGE addresses. The surge in network activity comes amidst a relative lull on the price side of things. The tenth-largest crypto asset by market cap mostly defied the general recovery of the market to register monthly losses of nearly 13%. Last year, the emergence of DRC-20 served as a major catalyst in network growth, ultimately a massive spike in Dogecoin’s transactions.

Source: Chayanika Deka, 2024-02-01; https://cryptopotato.com/dogecoin-doge-network-hits-new-milestone-with-record-breaking-new-addresses/

Transparency International: Weak Justice Systems Help Corruption Grow

Corruption will continue to thrive until justice systems can punish wrongdoing and keep governments in check, according to Transparency International. The organization noted that the majority of countries have shown minimal to no improvement in tackling public sector corruption. It warned that the rise in impunity for corruption is fueled by both authoritarian regimes and democratic leaders undermining justice. “Leaders should fully invest in and guarantee the independence of institutions that uphold the law and tackle corruption,” said Transparency’s CEO, François Valérian.

Source: Written by Zdravko Ljubas, 2024-02-02; https://www.occrp.org/en/daily//en/daily/18425-transparency-international-weak-justice-systems-help-corruption-grows

Pakistan’s ex-PM Imran Khan Sentenced to 14 Years for Selling State Gifts

Imran Khan and his wife disqualified from holding public office for 10 years. Khan is facing over a hundred different charges across multiple cases. In August 2023, he was given afor selling state gifts worth more than 140 million rupees ($501,000), which he received when he was prime minister from 2018 to April 2022. The ruling followed a probe by the country’s top anti-graft watchdog, the National Accountability Bureau (NAB), which had also charged Khan’s wife.

Source: Written by Haroon Janjua, 2024-02-01; https://www.occrp.org/en/daily//en/daily/18424-pakistan-s-ex-pm-imran-khan-sentenced-to-14-years-for-selling-state-gifts

DeFi Defies Crypto Fundraising Slump, Secures $210M: Messari

New record lows were set for both the total funding amount and the number of deals during this period. The quarterly figures fell below $2.1 billion across a total of 297 deals, marking a 36% decrease in both categories compared to the previous quarter. According to Messari’s , decentralized finance (DeFi) took the lead with 67 in total, whereas chain infrastructure secured the highest proportion of funding, comprising 18% of the total. The gaming sector also posted a strong quarter, amassing nearly $250 million in investments.

Source: Chayanika Deka, 2023-10-16; https://cryptopotato.com/defi-defies-crypto-fundraising-slump-secures-210m-messari/

Ukraine’s Senior Cybersecurity Officials Sacked amid Graft Probe

Six people, including executives of the State Service of Special Communications and Information Protection of Ukraine (SSSCIP), were exposed. The SSSCIP works with Western countries to provide cybersecurity assistance to Ukraine as it attempts to safeguard its digital infrastructure in the face of Russia’s invasion. Cabinet official Taras Melnychuk on Telegram that S SSCIP’s head Yurii Shchyhol, and his deputy Victor Zhora, were sacked immediately. Another four suspects include a general manager and an employee of a state-owned corporation, as well as the owner of a group of companies.

Source: Written by Zdravko Ljubas, 2023-11-29; https://www.occrp.org/en/daily//en/daily/18246-ukraine-s-senior-cybersecurity-officials-sacked-amid-graft-probe

Not Just Crypto: AFP Raids Bust Currency Exchange Laundering Nearly $230M in Illegal Funds

The Australian Federal Police (AFP) has uncovered a money laundering syndicate, named the Long River syndicate. Over the last three years, approximately $229 million in illicit funds have been laundered through twelve establishments across Australia. As part of Operation Avarus-Nightwolf, a series of targeted raids were executed, confiscating high-end properties and vehicles with an estimated value of $50 million. The investigation led to the arrest of four Chinese nationals and three Australians in Melbourne’s eastern suburbs.

Source: Wayne Jones, 2023-10-29; https://cryptopotato.com/not-just-crypto-afp-raids-bust-currency-exchange-laundering-nearly-230m-in-illegal-funds/

Here’s How Bitcoin (BTC) Price Can Reach $112K This Year: CryptoQuant CEO

Bitcoin’s price is poised for an upcoming rally this year, said the CEO of CryptoQuant – Ki Young Ju. The best scenario can take the asset to above $100,000 for the first time ever, he said. To do so, though, certain developments have to transpire, which are mostly related to the recently approved spot Bitcoin ETFs in the United States. That as BTC slumped by over ten grand in the first two weeks of ETF trading in January.

Source: Jordan Lyanchev, 2024-02-12; https://cryptopotato.com/heres-how-bitcoin-btc-price-can-reach-112k-this-year-cryptoquant-ceo/

Archives