AI Deepfake Tool Reaches New Level in Bypassing Crypto Exchange KYC
According to Cato Networks, a new AI-powered deepfake tool called ProKYC allows criminals to bypass KYC measures on crypto exchanges, representing a significant advancement in fraud tactics. Cybersecurity firm Cato Networks has identified a “new level of sophistication” in crypto fraud, as evidenced by the development of ProKYC. This new AI-powered deepfake tool enables malicious […]
FTX Customer Sues Hedge Fund Over Alleged Stolen Bankruptcy Profits
FTX Customer Nikolas Gierczyk is suing hedge fund Olympus Peak, claiming they owe him over $1 million from an FTX bankruptcy claim deal. Olympus Peak, a hedge fund, is being sued by Californian Nikolas Gierczyk for failing to fulfill his entitlement to additional recovery, according to a Bloomberg report on Oct. 11. He asserts that […]
Crypto Stakers Jarretts Sue IRS Again Over Block Reward Taxes
Crypto stakers Josh and Jessica Jarrett have refiled a lawsuit against the IRS, arguing that tokens earned through staking should be taxed only upon sale, not creation. Josh Jarrett and his wife Jessica Jarrett, both Tezos network stakeholders, have once more initiated litigation against the Internal Revenue Service regarding its tax treatment of their tokens. […]
UN Backs Ripple and Stellar for Global Payments Network
The United Nations Capital Development Fund (UNCDF) has endorsed Ripple and Stellar as key players in a new global payments network. This recognition highlights their potential to revolutionize cross-border transactions and enhance financial inclusion. Ripple and Stellar have been recognized by the United Nations Capital Development Fund (UNCDF) as critical components of a forthcoming global […]
Feds Charge 3 Firms, 15 Individuals in Crypto Manipulation Case
Federal prosecutors charged three crypto companies and 15 individuals with fraud and market manipulation cases, resulting in four arrests and five plea agreements. On Wednesday, federal prosecutors charged three crypto companies and 15 individuals with pervasive fraud and market manipulation. This action results from an investigation in which the FBI, for the first time, developed […]