Hong Kong’s SFC Warns of MEXC Related Suspected Crypto Fraud
Securities and Futures Commission (SFC) of Hong Kong has warned about an alleged scam utilizing cryptocurrency exchange MEXC. The SFC claims that on February 9th, police notified the public about a purported scam involving a company operating under the name MEXC and posing as a virtual asset trading platform (VATP). MEXC and its websites are […]
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 […]
Former FTX CEO Hires New Lawyers, May Appeal Fraud Conviction
Sam Bankman-Fried, the ex-CEO of FTX, has changed his legal representation and filed a sealed document ahead of his sentencing for seven counts of fraud and money laundering. Sam Bankman-Fried, also known as SBF, the former CEO of the cryptocurrency exchange FTX, has informed the federal court that he has hired new lawyers to defend […]
Former Bithumb Chairman Faces Eight-Year Prison Sentence
Prosecutors claim that Lee Jeong-hoon planned to restructure Bithumb’s management in order to profit from exchanging coins while dodging financial laws. The former chair of Bithumb, a significant cryptocurrency exchange in South Korea, Lee Jeong-hoon, is embroiled in a legal dispute that could result in an eight-year prison sentence; a ruling is expected on January […]
Taiwan Detains Key JPEX Executives Amidst Fraud Investigation
Executives from Taiwan’s JPEX exchange were arrested as part of a cryptocurrency fraud investigation, demonstrating Taiwan’s strict financial compliance laws. Taiwan’s legal authorities have detained prominent JPEX cryptocurrency exchange members embroiled in legal disputes. Chang Tung-Ying, the principal partner, and Shi Yu, an instructor associated with JPEX, were detained by the Taipei District Prosecutors Office […]