While the government agencies are queuing to sue the FTX and its founder Sam Bankman-Fried, the group of former customers made an effort to get their money back first. A class lawsuit initiated by four individuals demands priority access to frozen funds of the company for its customers, not investors. The lawsuit was filed on Dec. 27 in the United…
Bitcoin mining company Argo Blockchain announced it has entered into definitive agreements with Galaxy Digital Holdings that will see the miner sell its Helios facility in Dickens County, Texas. The deal, which will also see Galaxy host Argo’s mining machines located at Helios, is worth $65 million (£54 million), Argo Blockchain said in a press release Wednesday. In addition, Galaxy…
Cryptocurrency mining firm Argo Blockchain has taken a difficult decision to sell its flagship mining facility Helios in order to survive the ongoing bear market. Argo Blockchain CEO Peter Wall officially announced on Dec. 28 a deal with Mike Novogratz’s crypto investment firm Galaxy Digital to sell Helios facility for $65 million. Argo has already been cashing its mined Bitcoin…
The crypto wallets associated with now-bankrupt trading firm Alameda Research, the sister company of FTX, were seen transferring out funds just days after the former CEO Sam Bankman Fried was released on a $250 million bond. The transfer of funds from Alameda wallets raised community curiosity, but more than that, the way in which these funds were transferred grabbed the…
Venezuelan Banks have started eyeing the accounts of customers with ties to cryptocurrency trading, principally related to peer-to-peer (P2P) transaction activity. According to Legalrocks, a crypto and blockchain-focused legal firm in Venezuela, more than 75 accounts have been blocked by Venezuelan private banks for facilitating crypto-to-fiat and fiat-to-crypto conversions since the end of 2021. Venezuelan Banks Suspend Crypto-Related Accounts Venezuelan…
China’s wallet app for its digital yuan central bank digital currency (CBDC) introduced a feature for users to send money in an electronic version of traditional “red packets” to try to attract new users. The new feature was released over the weekend, around one month ahead of the Chinese New Year on Jan. 22, as reported by the South China…
Six executives from the $1.5 billion (2 trillion won) South Korean crypto exchange fraud V Global have received prison sentences up to eight years — but three were not detained so they could fight certain charges in court. V Global operated between July 2020 and April 2021, and roped in around 50,000 investors by promising 300% returns on investments alongside…
The Federal Bureau of Investigation (FBI) has reiterated its warning about a very popular crypto investment scam called “pig butchering” that is sweeping across the U.S. “Be very careful when you go on social media and dating apps and somebody starts developing a relationship with you,” cautioned an FBI specialist. FBI Warns About Pig Butchering Crypto Scam The Federal Bureau…
Global cryptocurrency exchange Kraken has decided to pull its operations in Japan for the second time, citing a strain on its resources amid a “weak crypto market.” In a Dec. 28 blog post, Kraken said it has decided to cease its operations in Japan and deregister from the Financial Services Agency by Jan. 31, 2023, which it said was part…
Defrost Finance, the decentralized trading platform that suffered a $12 million exploit leading up to Christmas, has denied allegations that it had “rugged” its users as part of an elaborate “exit scam.” On Dec. 23, the platform announced it suffered a flash loan attack, leading to the draining of user funds from its V2 protocol. One day later, another incident…
