The recent sentencing of FTX founder Sam Bankman-Fried to 25 years in prison and the forfeiture of over $11 billion has sent shockwaves through the financial world. U.S. Attorney Damian Williams stated that this harsh punishment serves as a warning to potential fraudsters, emphasizing the severity of consequences for engaging in financial crimes. During the
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5thScape, the virtual and augmented reality (VR and AR) cryptocurrency gaming ecosystem, has recently been making waves in the world of decentralized finance. With the ongoing presale of its native token, 5SCAPE, the project has managed to raise an impressive $2.8 million, signaling strong interest from investors and gamers alike. The platform promises to offer
The first quarter of 2024 has brought both good and bad news for the Web3 ecosystem in terms of security. According to the latest report by Immunefi, a bug bounty and security services platform, a total of $336 million was lost to Web3 hackers and fraudsters in this period. This represents a 23% decrease compared
The US and UK governments have initiated a collaborative investigation into crypto transactions exceeding $20 billion that are suspected of breaching Russian sanctions. These transactions are believed to have been funneled through the Russian crypto exchange, Garantex, as a means to evade international sanctions and potentially fund military endeavors in Ukraine. Despite facing comprehensive sanctions,
After a period of bearish sentiment, Bitcoin bulls seem to have taken control once again as evidenced by the significant inflows into Spot Bitcoin ETFs. Farside Investors recently reported that on March 27, the Spot Bitcoin ETFs saw inflows of $243 million. This surge was largely driven by BlackRock’s iShares Bitcoin Trust (IBIT) and ARK
The meme coin markets on Solana have been experiencing a surge, with one of the latest tokens, Christ is King (CHRIST), skyrocketing by over 770,000% in just 24 hours. The sudden viral success of Christ is King has propelled it to new heights, making it a hot topic in the cryptocurrency world. Despite its impressive
In a surprising turn of events, the spot Bitcoin ETF market has experienced a significant increase in net inflows following a week of outflows. This week’s activities have shown a remarkable reversal from the previous trend, with Tuesday alone seeing a substantial net inflow of $480 million. This positive momentum continued with an additional $243.5
Bitcoin price is currently consolidating gains above the $69,000 support zone, showcasing positive signs for potential growth. The digital currency must successfully clear the $71,500 resistance zone in order to initiate a steady increase in value. As Bitcoin continues to trade above $69,000 and the 100 hourly Simple Moving Average, a major bullish trend line
In a recent case that shocked the nation, a South Korean civil servant was arrested for committing crypto-related fraud and carrying out voice phishing attacks. The accused, a level six district office official in her 50s, allegedly received money from multiple victims and converted the fiat to Bitcoin. She then sent the coins to a
The US Department of the Treasury, through its Office of Foreign Assets Control (OFAC), took decisive action on March 27 by imposing sanctions on the Palestinian news network Gaza Now. The sanctions were issued on the grounds of allegations accusing Gaza Now of providing support to Hamas, a designated terrorist organization. This move by the
