News – Page 55

AirBit Club Co-Founder Sentenced to 12 Years in Prison for Crypto Pyramid Scheme

Pablo Rodriguez, co-founder of AirBit Club, sentenced to 12 years in prison. Rodriguez pleaded guilty to wire fraud conspiracy charges in March. Rodriguez and his co-conspirators were accused of orchestrating a global scam. Judge George B. Daniels at the District Court has ordered an extra three years of supervised release for Rodriguez, which will be in effect after his 12-year prison term. He was accused of enticing investors with false promises of cryptocurrency riches while misappropriating their investments for personal gain.

Source: Chayanika Deka, 2023-10-02; https://cryptopotato.com/airbit-club-co-founder-sentenced-to-12-years-in-prison-for-crypto-pyramid-scheme/

Celsius Seeks Court Approval for Restructuring and Customer Repayments

Celsius is in court seeking final approval to initiate customer repayments by year-end and gain complete approval for its reorganization plan. During a court hearing on Oct. 2, Christopher Koenig, the company’s legal counsel, stated that a new entity called NewCO will emerge with approximately $450 million in seed funding once the reorganization is approved. As per reports, the new company, NewCo, will offer a user-owned Bitcoin miner. The recently established firm, poised to after the restructuring, is expected to secure its funding primarily from a consortium known as Fahrenheit LLC.

Source: Wayne Jones, 2023-10-04; https://cryptopotato.com/celsius-seeks-court-approval-for-restructuring-and-customer-repayments/

SlowMist Founder Highlights Security Risks on FriendTech Amid Hacking Incidents

Users of FriendTech (FT) have reported instances of unauthorized access to their accounts, resulting in the theft of their valuable digital assets. These security breaches have raised significant concerns regarding the vulnerabilities of the centralized service, prompting SlowMist’s founder to issue a warning about the inherent risks associated with utilizing the platform. The initial occurrence was brought to the public’s awareness by a user using the handle @darengb on the X platform. They revealed that their FT account had been hacked, resulted in the loss of 22 ETH. The attacker not only drained their wallet but also sold 34 of their keys.

Source: Wayne Jones, 2023-10-04; https://cryptopotato.com/slowmist-founder-highlights-security-risks-on-friendtech-amid-hacking-incidents/

Crypto Market Cap Adds $40B Daily as Solana (SOL) Explodes 14% (Market Watch)

The primary cryptocurrency fell by over $500 and dipped below $26,000 for the first time in about two weeks. Unlike last Monday, when BTC dumped hard, this time, the cryptocurrency went on the offensive and skyrocketed to an almost 7-week peak at $28,500. The altcoins are also well in the green, with notable gains coming from the likes of Solana, Cardano, OP, MATIC, and others. BTC started recovering its lost ground and even spiked toward $27,000 mid-week.

Source: Jordan Lyanchev, 2023-10-02; https://cryptopotato.com/crypto-market-cap-adds-40b-daily-as-solana-sol-explodes-14-market-watch/

Media Watchdogs Call On Greece to Safeguard Journalists and Press Freedom

Reporters Without Borders says Greek authorities have done little to improve the situation. Between 2020 and 2022, the Greek National Intelligence Service (EYP) wiretapped journalists in the name of national security. Reporters have also been illegally targeted by the phone hacking software “Predator” and despite complaints they filed, justice has yet to be served in cases of privacy violations, the group says. The delegation met with various media outlets representing a wide range of editorial perspectives, officials from state institutions, and representatives from civil society.

Source: Written by Erika Di Benedetto, 2023-10-02; https://www.occrp.org/en/daily//en/daily/18083-media-watchdogs-call-on-greece-to-safeguard-journalists-and-press-freedom

Nigeria Arrests Wildlife-Smuggling Kingpin

Felix Maiva is believed to be involved in a well-known transnational organized crime organization operating in West Africa. In January 2021, a container with nearly five tonnes of elephant ivory was discovered at the Nigerian seaport of Apapa. Another member of this criminal group was convicted by a Nigerian court in June this year. Felix Olame served as a clearing age for the criminal group. The Wildlife Justice Commission wishes to congratulate the NCS for their rapid response resulting in this outstanding outcome.

Source: Written by Lieth Carrillo, 2023-10-04; https://www.occrp.org/en/daily//en/daily/18089-nigeria-arrests-wildlife-smuggling-kingpin

Hong Kong’s Crypto Initiatives Spark ‘Bubbling Optimism’ in East Asia: Chainalysis

Eastern Asia ranks as the fifth most active crypto market, contributing 8.8% of global digital asset activity between July 2022 and June 2023. Its decline over the last few years has been notable – largely propelled by the big blow to the Chinese trading activity and mining sector. The growing prominence of Hong Kong as a cryptocurrency hub could potentially indicate a shift in the Chinese government’s stance on digital assets, or at the very least, a growing willingness to embrace such initiatives. The Hong Kong OTC market serves as a conduit for mainland Chinese users to facilitate the movement of funds to other countries.

Source: Chayanika Deka, 2023-10-03; https://cryptopotato.com/hong-kongs-crypto-initiatives-spark-bubbling-optimism-in-east-asia-chainalysis/

Infamous Cosa Nostra Mafia Boss Messina Denaro Dies Of Cancer

Messina Denaro, 61, was found guilty of numerous murders, including the strangeling of a 12-year-old child whose body was then dissolved in acid. He had been fighting colon cancer and had been undergoing treatment for several years. The health of the Sicilian Cosa Nostra boss deteriorated in recent weeks and he was moved in August from a maximum-security prison to L’Aquila Hospital, in Central Italy. On Friday he fell into an irreversible coma and died on Monday.

Source: Written by Erika Di Benedetto, 2023-10-02; https://www.occrp.org/en/daily//en/daily/18070-infamous-cosa-nostra-mafia-boss-messina-denaro-dies-of-cancer

Will Bitcoin’s 4% Weekend Surge to $28K Lead to More Gains This Week?

Bitcoin prices have surged almost 4% on the day, topping $28,000 during the Monday morning Asian trading session. It is the BTC has been at since August 17, however, there is heavy resistance at this level. Analyst ‘CrediBULL Crypto’ said, “Every higher timeframe impulse starts with a lower timeframe impulse” He added that BTC is not done yet and expected a move higher, which came on Monday morning. “The move we just saw is exactly what we were looking for,” he said.

Source: Martin Young, 2023-10-02; https://cryptopotato.com/will-bitcoins-4-weekend-surge-to-28k-lead-to-more-gains-this-week/

Exploits, Hacks, and Scams Deplete Crypto Holdings by $332 Million in September: CertiK

Crypto-related exploits stood at a whopping $329.8 million in September. Exit scams were recorded to be around $1.9 million, while flash loans accounted for almost $0.4 million. CertiK attributed the largest portion of this month’s losses to the September 23rd attack on the Mixin Network, a Hong Kong-based decentralized cross-chain transfer protocol. This breach in a $200 million loss, primarily due to a security breach within its cloud service provider.

Source: Chayanika Deka, 2023-10-03; https://cryptopotato.com/exploits-hacks-and-scams-deplete-crypto-holdings-by-332-million-in-september-certik/

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