Former USI-Tech CEO Horst Jicha is on the run after allegedly stealing $180 million from investors A former cryptocurrency executive is on the run after allegedly tampering with his ankle bracelet, according to New York prosecutors. Horst Jicha, the ex-CEO of USI-Tech, a crypto mining and trading company accused of defrauding investors out of $180
The sting operation ensnared financial and cryptocurrency firms across the country The FBI recently netted 16 individuals in a groundbreaking sting operation by creating a fake cryptocurrency to catch fraudsters involved in market manipulation. The US government unsealed charges in Boston, accusing leaders from four cryptocurrency firms and four financial service companies of orchestrating large-scale
The days of cryptocurrency being completely anonymous and untraceable are fading In a move to combat the rising tide of investment fraud, particularly within the cryptocurrency sector, the Wisconsin Department of Financial Institutions (DFI) has unveiled a new scam tracker. This tool is a direct response to the growing number of consumer complaints and is
Silvergate will have to pay $63 million for its failures Silvergate Capital Corporation, the parent company of the now-defunct Silvergate Bank, has agreed to a $63 million settlement with US and California regulators to resolve charges related to its handling of anti-money laundering (AML) and bank secrecy compliance programs. The Federal Reserve will receive $43
Salame helped collapse the crypto exchange that stole $10 billion in user funds US federal prosecutors are seeking a sentence of five to seven years in prison for former FTX executive Ryan Salame, the alleged co-conspirator with FTX co-founder Sam “SBF” Bankman-Fried, who pleaded guilty to crimes that helped cause the collapse of the bankrupt cryptocurrency exchange. A sentencing memo
Irina Dilkinska has been given a sentence of four years for her role in the scandal US District Judge Edgardo Ramos sentenced the former head of legal and compliance for the multibillion-dollar OneCoin fraud scheme to four years in prison on Wednesday, according to a statement from the US Attorney’s Office released on April 3.
A new study shows that crypto fraud has weakened while technology allows more funds to be recovered Blockchain security company PeckShield has publicized data outlining the 2023 losses to crypto hacks and scams. According to the report, except for multichain losses, $2.61 billion was lost during the year. PeckShield documented in its January 29 report
The cryptocurrency ecosystem has shown progress in protecting itself from fraud and theft A shift in the online cryptocurrency trend of hacks and thefts was seen in 2023, with security firms tracking the incidents reporting a reduction in the total amount stolen as opposed to past years, but the threat remains substantial. Crypto hackers stole
Benjamin Lee and Wesley Fei were allegedly conned out of money A man is accused of fraud after pitting two renowned Hustler Casino Live regulars against each other in an intricate scam. “Wes Side” Wesley Fei and Benjamin “Blank Check Ben” Leeboth, popular figures on the show, both admit they’ve had a tense relationship, but
Another crypto exchange succumbs to the greed of a few criminals The leaders of the JPEX crypto exchange are still on the run, and Hong Kong police have enlisted Interpol’s help to locate the suspects. The masterminds behind the crypto exchange scandal, said by many to be the biggest financial fraud ever to hit Hong
The Turkish founder of the Thodex exchange will spend the rest of his life behind bars Faruk Fatih Özer, former CEO of Turkish crypto exchange Thodex, was sentenced by a Turkish court to 11,196 years after he was charged with “establishing, managing and being a member of an organization,” “qualified fraud” and “laundering of property
Despite the presence of federal and state financial watchdogs, financial fraud continues The US Attorney’s Office for the Northern District of California has revealed that William Koo Ichioka, operator of Ichioka Ventures, is set to confess to several federal crimes associated with duping investors through a scam related to cryptocurrencies and other assets. This serves
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