ScamSniffer Reports Major Losses from Inferno Drainer Fraud
Blockchain security firm ScamSniffer reported that a cryptocurrency whale lost over $32 million in a transaction tied to the Inferno Drainer scam. A blockchain security company, ScamSniffer, has reported that a cryptocurrency whale incurred a loss of more than $32 million due to a transaction associated with the Inferno Drainer fraud operation. This operation exploits […]
SEC Charges TrustToken, TrueCoin over Stablecoin Fraud
The U.S. Securities and Exchange Commission charged securities violations to two cryptocurrency organizations associated with the TUSD stablecoin. TrueCoin and TrustToken settled the charges brought against them, which included allegations of unregistered offering and sales of investment contracts between November 2020 and April 2023. Through the creation of the decentralized finance lending platform TrueFi, TrustToken […]
South Korean Crypto CEO Stabbed During Fraud Trial
South Korean Crypto CEO was stabbed in a courtroom during the trial of the company’s executives, accused of stealing $826M. While he was in court in Seoul, the chief executive officer of a cryptocurrency company based in South Korea sustained several stab wounds. Hugo Hyungsoo Lee, the Chief Executive Officer of Haru Invest, a cryptocurrency-earning […]
SEC Targets Ideanomics for Fraud Over Misleading Crypto Disclosures
SEC charges Ideanomics and executives with fraud for misleading financial disclosures from 2017 to 2019. Ideanomics Inc. and three of its senior executives have been accused with fraud by the U.S. Securities and Exchange Commission (SEC) for misleading financial disclosures from 2017 to 2019. Former Chairman and CEO Zheng (Bruno) Wu , current CEO Alfred […]
Celsius Sues Tether to Recover $2B in Bitcoin Fraud
Celsius argues that Tether sold the Bitcoin at a low price and violated contract terms, exacerbating their bankruptcy. Celsius Network Ltd. has filed a lawsuit against Tether and its affiliated organizations. According to the allegations made in the lawsuit, the USDT issued today carried out “fraudulent” and “preferential” transfers of Bitcoin (BTC) totaling more than […]