Entries by Regulated

SEC Charges Shopin with Defrauding Investors In a $42 Million ICO

The U.S. Securities and Exchange Commission (SEC) has charged the cryptocurrency company Shopin, and its Chief Executive Eran Eyal, with defrauding a large number of investors in a $42 million Initial Coin Offering (ICO).According to the SEC’s announcement, the founder of Shopin was deceiving investors by selling unregistered securities in the form of Shopin...

Former StyleHaul Executive Pleads Guilty to $22 Million Embezzlement Charges

Dennis Blieden, a former Hollywood executive and a professional poker player, pleaded guilty to charges of embezzling $22 million from the company for which he had formerly worked.Blieden was a controller and VP of accounting and finance at StyleHaul, a digital marketing company that represents influencers on social media. Back in July, Blieden was...

DX.Exchange Crypto Platform Goes Through Bankruptcy Proceedings

A bankruptcy petition filed by employees of DX.Exchange alleges that the company was actually managed by CX Technologies Ltd. . 76 Current and former employees, who filed the petition, claim CX Technologies replaced the Israeli binary options firm SpotOption, a company that was raided by the FBI in January last year due to suspected...

Germany Joins Other Countries As it Warns Customers to Stay Away From Karatbars

The German financial regulator BaFin has issued a cease-and-desist order against Karatbit Foundation, shortly after South African regulators also acted against the crypto company. Karatbars International GmbH issues the supposedly gold-backed KaratGold Coin, previously known as KaratBankCoin (KBC). The token, which currently runs on the Ethereum blockchain, is trading on nearly 30 exchanges, including Yobit,...

FBI Makes Two New Arrests For Cryptocurrency Theft

Two men from Massachusetts were charged by the US Department of Justice (DOJ) on multiple counts, including wire fraud, computer fraud, abuse and identity theft. The defendants, Eric Meiggs, 21 and Declan Harrington, 20  were allegedly attempting to steal from digital currency companies’ directors and others “who likely had significant amounts of cryptocurrency,” and...

Crypto Capital Executive Indicted on Fraud Allegations

Crypto Capital executive Oz Yosef was charged with multiple crimes by the U.S. Attorney’s Office of the Southern District of New York. As stated in the court documents from October 23, Yosef was indicted on 3 counts, including bank fraud, conspiracy to commit bank fraud, and conspiracy to perform unlicensed money transmitting service.According to the...

Bitmain’s Internal Struggles Detailed in the Leaked Transcript

A transcript of a recent Bitmain staff meeting surfaced online exposing intense leadership struggles inside one of the greatest bitcoin miner producers in the world, resulting in the dismissal of co-founder Micree Ketuan Zhan.The transcript states that Jihan Wu, the fellow co-founder of the company, talked about why he thought the company should terminate...

Tether and Bitfinex Sued for $1.4 Trillion

A law office from New York filed a lawsuit against a cryptocurrency exchange Bitfinex and Tether, claiming they manipulated the crypto market, causing harm to traders while reaping benefits for themselves.According to the lawsuit, Bitfinex and some of the associated entities participated in fraudulent, competition-distorting, and market-manipulation activities, causing financial damage to the plaintiffs.Additionally,...

Bittrex Selects Chainalysis Software to Detect Suspicious Transactions

Bittrex a cryptocurrency exchange that has been in operation since 2014 and a Top-100 exchange by trade volume, has introduced a real-time monitoring solution to help it detect suspicious activity on its cryptocurrency trading platform, developed by the blockchain analysis company Chainalysis. The new software is known as Chainalysis KYT (Know Your Transaction) and it...

CEO of the Embattled Brazillian Crypto Company Owns 25,000 Bitcoins

October 08 - CEO of the Embattled Brazillian Crypto Company Owns 25,000 Bitcoins A leaked tax filing shows that Claudio Oliveira, the Chief Executive of the embattled Brazilian cryptocurrency company Grupo Bitcoin Banco, owns as much as 25,000 Bitcoin. This amount is currently worth more than $209 million USD.A person familiar with Brazil’s tax authority,...