Wemade Faces Probe Over Crypto Fraud Allegations
Wemade, a South Korean Web3 game developer, is under investigation by local prosecutors for allegedly violating the rules for virtual asset service providers and issuing fraudulent tokens. Wemade, a South Korean Web3 game developer, is currently facing a probe by the Seoul Southern District Prosecutor’s Office’s first financial investigation department. According to a local media […]
Tron Founder Leads $3.33 Billion ETH Restaking on EigenLayer
Tron Founder Justin Sun and other key players have restaked over 1 million ETH on EigenLayer, a leading ETH staking platform, boosting its popularity and challenging Ethereum’s dominance. ETH restaking is a process of transferring ETH tokens from one staking platform to another, usually to take advantage of better rewards, security, or features. Staking platforms […]
Pro-XRP Lawyer Challenges SEC’s Claims on Ripple’s ODL Transactions
Pro-XRP lawyer Bill Morgan defends Ripple’s ODL transactions as a legitimate service for money transfers, while the SEC seeks more disclosure from Ripple in the ongoing legal dispute over XRP classification. Ripple’s ODL transactions are a service offered by Ripple, a blockchain company that provides cross-border payment solutions using its native cryptocurrency, XRP. ODL stands […]
Naira Gains Strength After CBN Lifts Exchange Rate Caps
The Central Bank of Nigeria (CBN) has announced the removal of caps on naira exchange rates for international money transfer operators (IMTOs), aiming to liberalize the foreign exchange market and improve the naira’s performance. The Central Bank of Nigeria (CBN) made a significant announcement on January 31, 2024, declaring the removal of caps on naira […]
Bitsonic CEO and VP Jailed for 10 Billion Won Crypto Fraud
The CEO and vice president of technology of Bitsonic, a South Korean crypto exchange, have been sentenced to prison for orchestrating a massive fraud scheme involving fake trading volumes and customer deposits. The Seoul Eastern District Court has sentenced the CEO and vice president of technology of Bitsonic, a major South Korean crypto exchange, to […]