CryptoFraud
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South Korean Police Bust Fake Crypto Exchanges – Over $3.2 Million in Crypto Seized
South Korean authorities have cracked down on a major crypto fraud scheme. In a large-scale raid on fake cryptocurrency exchanges, the police seized over 4.4 billion Korean won (approximately $3.2 million) in digital assets, mostly in Ethereum. The operation targeted a well-organized syndicate that had been running illegal exchanges and siphoning user fees for years.
According to Yonhap News Agency, the group had been manually converting cryptocurrency through an unregistered platform called Nettel Pay for the past six years. In total, they allegedly carried out fraudulent crypto transactions amounting to $694 million.
Authorities arrested two exchange operators and three main perpetrators, who now face charges for violating electronic payment and foreign exchange transaction laws. The suspects also tried to launder the stolen crypto by using false identities, which investigators uncovered during raids and transaction monitoring.
🔎 The investigation further revealed that some of the illicit proceeds were funneled into foreign gambling websites, adding to the charges against the group.
To strengthen the fight against crypto-related crime, South Korean prosecutors earlier this year established a special joint investigation unit focused on virtual assets. The team is composed of prosecutors and financial regulators from the Financial Services Commission and the Financial Supervisory Service.
#CryptoCrime , #CryptoSecurity , #CryptoFraud , #Ethereum , #CryptoFraud
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
According to Yonhap News Agency, the group had been manually converting cryptocurrency through an unregistered platform called Nettel Pay for the past six years. In total, they allegedly carried out fraudulent crypto transactions amounting to $694 million.
Authorities arrested two exchange operators and three main perpetrators, who now face charges for violating electronic payment and foreign exchange transaction laws. The suspects also tried to launder the stolen crypto by using false identities, which investigators uncovered during raids and transaction monitoring.
🔎 The investigation further revealed that some of the illicit proceeds were funneled into foreign gambling websites, adding to the charges against the group.
To strengthen the fight against crypto-related crime, South Korean prosecutors earlier this year established a special joint investigation unit focused on virtual assets. The team is composed of prosecutors and financial regulators from the Financial Services Commission and the Financial Supervisory Service.
#CryptoCrime , #CryptoSecurity , #CryptoFraud , #Ethereum , #CryptoFraud
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Romance Scam Victim Sues Citibank Over $20 Million Crypto Fraud
A legal battle has erupted in New York, blending online romance, cryptocurrencies, and a staggering financial loss. Michael Zidell filed a lawsuit against Citibank on June 24, claiming he lost $20 million in a sophisticated romance-investment scam. According to him, the bank should have recognized the red flags and acted accordingly.
🎭 Love as a Trap: The Beginning of the Scam
The story began in January 2023 when Zidell was contacted on Facebook by a woman introducing herself as Carolyn Parker, allegedly a business owner from California. Their communication quickly moved to WeChat, where a romantic relationship developed through video calls and messages. In February, she convinced Zidell to invest in NFTs through a website called OpenrarityPro.com, which she presented as a guaranteed way to make millions.
She showed him what appeared to be account statements as "proof" of her success, and Zidell began transferring funds. In total, he made 43 transfers, with 12 sent to Citibank accounts under the name Guju Inc., amounting to almost $4 million.
🚨 Warning Signs the Bank Allegedly Ignored
Zidell claims that the transactions to Guju Inc. far exceeded the firm’s stated income, as declared during the account opening process, and that Citibank had a duty to investigate the activity. The transfers reportedly showed classic signs of fraud – including large, round-dollar amounts and mismatches with the company’s stated business activity.
The lawsuit accuses Citibank of violating Know Your Customer (KYC) and Anti-Money Laundering (AML) laws by failing to investigate the suspicious activity despite clear warning signs.
🐖 "Pig Butchering" – A Rising Scam Trend
The type of scam that Zidell fell victim to is known as “pig butchering” – a scheme where fraudsters build long-term fake relationships, gain the victim's trust, and then manipulate them into investing massive sums, often in crypto assets.
According to the FBI’s 2024 Internet Crime Report, such scams resulted in the largest crypto-related financial losses, totaling $5.8 billion last year alone.
Elderly Americans were especially targeted: those aged 60 and older lost a collective $2.8 billion, mostly due to fake investment offers disguised as romantic relationships.
#Cryptoscam , #CryptoFraud , #CryptoCrime , #CyberSecurity , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
🎭 Love as a Trap: The Beginning of the Scam
The story began in January 2023 when Zidell was contacted on Facebook by a woman introducing herself as Carolyn Parker, allegedly a business owner from California. Their communication quickly moved to WeChat, where a romantic relationship developed through video calls and messages. In February, she convinced Zidell to invest in NFTs through a website called OpenrarityPro.com, which she presented as a guaranteed way to make millions.
She showed him what appeared to be account statements as "proof" of her success, and Zidell began transferring funds. In total, he made 43 transfers, with 12 sent to Citibank accounts under the name Guju Inc., amounting to almost $4 million.
🚨 Warning Signs the Bank Allegedly Ignored
Zidell claims that the transactions to Guju Inc. far exceeded the firm’s stated income, as declared during the account opening process, and that Citibank had a duty to investigate the activity. The transfers reportedly showed classic signs of fraud – including large, round-dollar amounts and mismatches with the company’s stated business activity.
The lawsuit accuses Citibank of violating Know Your Customer (KYC) and Anti-Money Laundering (AML) laws by failing to investigate the suspicious activity despite clear warning signs.
🐖 "Pig Butchering" – A Rising Scam Trend
The type of scam that Zidell fell victim to is known as “pig butchering” – a scheme where fraudsters build long-term fake relationships, gain the victim's trust, and then manipulate them into investing massive sums, often in crypto assets.
According to the FBI’s 2024 Internet Crime Report, such scams resulted in the largest crypto-related financial losses, totaling $5.8 billion last year alone.
Elderly Americans were especially targeted: those aged 60 and older lost a collective $2.8 billion, mostly due to fake investment offers disguised as romantic relationships.
#Cryptoscam , #CryptoFraud , #CryptoCrime , #CyberSecurity , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Australian Crypto ATMs Flooded with Scam Victims, Regulator Warns
Australia’s financial watchdog AUSTRAC has uncovered a shocking truth: among the 90 most active users of cryptocurrency ATMs, the majority are not tech-savvy investors—but scam victims and “money mules.”
Instead of acting as a gateway to the digital financial world, these machines are now being exploited for emotional manipulation and laundering dirty money. A nationwide investigation in cooperation with the police revealed that a huge portion of high-value transactions at crypto ATMs is linked to romance and investment scams.
Fraudsters Exploit Trust – Victims Lose Hundreds of Thousands of Dollars
One of the most devastating cases involves a 70-year-old woman who lost over $430,000 after being deceived by a combination of fake love and false promises of wealth. Another elderly woman sent $200,000 to a supposed “trading firm” that vanished without a trace. In both cases, the funds were unrecoverable—and so was the trust in digital finance.
AUSTRAC CEO: Most Transactions Involve Victims, Not Criminals
AUSTRAC’s head Brendan Thomas didn’t mince words: “We suspected that the high transaction volumes at these ATMs were suspicious. But the outcome exceeded our expectations—almost all of them were carried out by scam victims, not perpetrators.”
What was once seen as a cutting-edge tool for entering the digital economy has now become a trap, leaving people financially ruined and emotionally drained.
Australia Imposes Tighter Rules – The U.S. Follows Suit
To prevent further damage, Australia has introduced new regulations, including:
🔹 A $5,000 limit per ATM transaction
🔹 Mandatory identity verification
🔹 On-screen scam warnings
🔹 Stricter supervision of ATM operators and owners
Brendan Thomas urged the public to be extremely cautious: “If someone tells you to deposit cash into a crypto ATM and send it to a wallet you don’t control, chances are you’ll lose it all.”
Scam Losses in the U.S. Skyrocket – Nearly Tenfold Increase
A similar situation is unfolding across the U.S. According to the latest data, crypto ATM scams surged nearly tenfold between 2020 and 2023. In 2024 alone, FBI complaints rose by 99%, with related scam losses reaching $247 million.
People over 60 are particularly vulnerable, being three times more likely to fall victim than younger users. Scammers often guide victims step-by-step—where to go, how to scan a code, how to insert the cash. For many, it’s their first and last encounter with cryptocurrency.
Crypto Market Grows, But Security Lags Behind
Ironically, while scams are increasing, the crypto market continues to thrive. In the last 24 hours, the total crypto market cap has grown by over 2%, reaching $3.31 trillion.
🔹 Bitcoin is trading above $108,000
🔹 Ethereum hovers around $2,439
Digital assets are booming, but they’re also attracting more criminals. While technology moves forward, many people are left behind—often with empty wallets and shattered trust.
❗ What do you think? Should crypto ATMs face even stricter regulation, or is this just the result of irresponsible use?
#Cryptoscam , #BTC , #CryptoSecurity , #CryptoFraud , #bitcoin
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Instead of acting as a gateway to the digital financial world, these machines are now being exploited for emotional manipulation and laundering dirty money. A nationwide investigation in cooperation with the police revealed that a huge portion of high-value transactions at crypto ATMs is linked to romance and investment scams.
Fraudsters Exploit Trust – Victims Lose Hundreds of Thousands of Dollars
One of the most devastating cases involves a 70-year-old woman who lost over $430,000 after being deceived by a combination of fake love and false promises of wealth. Another elderly woman sent $200,000 to a supposed “trading firm” that vanished without a trace. In both cases, the funds were unrecoverable—and so was the trust in digital finance.
AUSTRAC CEO: Most Transactions Involve Victims, Not Criminals
AUSTRAC’s head Brendan Thomas didn’t mince words: “We suspected that the high transaction volumes at these ATMs were suspicious. But the outcome exceeded our expectations—almost all of them were carried out by scam victims, not perpetrators.”
What was once seen as a cutting-edge tool for entering the digital economy has now become a trap, leaving people financially ruined and emotionally drained.
Australia Imposes Tighter Rules – The U.S. Follows Suit
To prevent further damage, Australia has introduced new regulations, including:
🔹 A $5,000 limit per ATM transaction
🔹 Mandatory identity verification
🔹 On-screen scam warnings
🔹 Stricter supervision of ATM operators and owners
Brendan Thomas urged the public to be extremely cautious: “If someone tells you to deposit cash into a crypto ATM and send it to a wallet you don’t control, chances are you’ll lose it all.”
Scam Losses in the U.S. Skyrocket – Nearly Tenfold Increase
A similar situation is unfolding across the U.S. According to the latest data, crypto ATM scams surged nearly tenfold between 2020 and 2023. In 2024 alone, FBI complaints rose by 99%, with related scam losses reaching $247 million.
People over 60 are particularly vulnerable, being three times more likely to fall victim than younger users. Scammers often guide victims step-by-step—where to go, how to scan a code, how to insert the cash. For many, it’s their first and last encounter with cryptocurrency.
Crypto Market Grows, But Security Lags Behind
Ironically, while scams are increasing, the crypto market continues to thrive. In the last 24 hours, the total crypto market cap has grown by over 2%, reaching $3.31 trillion.
🔹 Bitcoin is trading above $108,000
🔹 Ethereum hovers around $2,439
Digital assets are booming, but they’re also attracting more criminals. While technology moves forward, many people are left behind—often with empty wallets and shattered trust.
❗ What do you think? Should crypto ATMs face even stricter regulation, or is this just the result of irresponsible use?
#Cryptoscam , #BTC , #CryptoSecurity , #CryptoFraud , #bitcoin
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Coinbase Assists U.S. Authorities in Historic Crypto Scam Bust: $225 Million Frozen
U.S.-based crypto exchange Coinbase has announced its major role in uncovering and tracing one of the largest crypto frauds in U.S. history. In collaboration with the U.S. Secret Service and FBI, Coinbase helped track millions in stolen digital assets and identify hundreds of scam victims tied to a fraud scheme known as “pig butchering.”
🔹 A Historic Seizure Worth Hundreds of Millions
Last week, Secret Service Special Agent Shawn Bradstreet confirmed the seizure of $225.3 million in USDT, calling it the largest cryptocurrency confiscation in the agency's history.
The funds were linked to an international criminal network engaged in human trafficking and romance-investment scams, where victims were lured via fake online relationships and persuaded to invest in fraudulent crypto projects with the promise of high returns.
🔹 Coinbase Played a Key Role in the Investigation
Coinbase revealed that its forensic team worked for several days tracing hundreds of thousands of blockchain transactions from suspicious wallets back to payments made through its platform. This allowed authorities to identify specific victims eligible for restitution.
“Our forensic analysis helped flag the victims and track the suspect wallets. We’re proud to support the fight against crypto-related fraud,” said Coinbase.
🔹 Crypto Scams Skyrocket in 2024
A report from Chainalysis shows that pig butchering scams have soared this year:
📈 Revenue from such scams is up 40%
📈 Deposits into scam wallets surged 210% compared to 2023
📉 However, the average deposit per victim dropped 55%, indicating a shift in strategy: scammers are now targeting more people with smaller amounts.
Additionally, other fraud methods have also surged:
🔹 Address poisoning attacks up 15,000%
🔹 Fake airdrop campaigns
🔹 Scams impersonating the U.S. SEC
One of the year’s most notable events occurred on May 3, when an attacker nearly stole $68 million in WBTC on Ethereum – only to return the funds to the victim. The incident sparked speculation about the motives behind the act.
🔹 Tether Steps In
Stablecoin issuer Tether, acting on authorities’ requests, froze the wallets tied to the scam and stated that it has now frozen over $2.7 billion in USDT linked to illegal activity since its inception. This highlights how stablecoins have become a preferred tool for laundering stolen crypto assets.
#Tether , #Cryptoscam , #CryptoFraud , #CryptoSecurity , #CryptoCrime
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
🔹 A Historic Seizure Worth Hundreds of Millions
Last week, Secret Service Special Agent Shawn Bradstreet confirmed the seizure of $225.3 million in USDT, calling it the largest cryptocurrency confiscation in the agency's history.
The funds were linked to an international criminal network engaged in human trafficking and romance-investment scams, where victims were lured via fake online relationships and persuaded to invest in fraudulent crypto projects with the promise of high returns.
🔹 Coinbase Played a Key Role in the Investigation
Coinbase revealed that its forensic team worked for several days tracing hundreds of thousands of blockchain transactions from suspicious wallets back to payments made through its platform. This allowed authorities to identify specific victims eligible for restitution.
“Our forensic analysis helped flag the victims and track the suspect wallets. We’re proud to support the fight against crypto-related fraud,” said Coinbase.
🔹 Crypto Scams Skyrocket in 2024
A report from Chainalysis shows that pig butchering scams have soared this year:
📈 Revenue from such scams is up 40%
📈 Deposits into scam wallets surged 210% compared to 2023
📉 However, the average deposit per victim dropped 55%, indicating a shift in strategy: scammers are now targeting more people with smaller amounts.
Additionally, other fraud methods have also surged:
🔹 Address poisoning attacks up 15,000%
🔹 Fake airdrop campaigns
🔹 Scams impersonating the U.S. SEC
One of the year’s most notable events occurred on May 3, when an attacker nearly stole $68 million in WBTC on Ethereum – only to return the funds to the victim. The incident sparked speculation about the motives behind the act.
🔹 Tether Steps In
Stablecoin issuer Tether, acting on authorities’ requests, froze the wallets tied to the scam and stated that it has now frozen over $2.7 billion in USDT linked to illegal activity since its inception. This highlights how stablecoins have become a preferred tool for laundering stolen crypto assets.
#Tether , #Cryptoscam , #CryptoFraud , #CryptoSecurity , #CryptoCrime
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
“The Giveaway Scam: Elon, CZ, Vitalik Are Not Sending You ETH”
Twitter & YouTube are full of fake livestreams:
🎥 “CZ is giving away ETH”
🎥 “Send 1, get 10 back”
They’re deepfakes, recordings, or bots
No verified project will ask you to send crypto to win crypto
Report. Block. Move on.
#GiveawayScam #CryptoFraud #Salma6422
Twitter & YouTube are full of fake livestreams:
🎥 “CZ is giving away ETH”
🎥 “Send 1, get 10 back”
They’re deepfakes, recordings, or bots
No verified project will ask you to send crypto to win crypto
Report. Block. Move on.
#GiveawayScam #CryptoFraud #Salma6422
🔐 ₹80 Lakh #CryptoFraud Busted in Lucknow — 8 Arrested
🚨 In a major cybercrime breakthrough, police have uncovered an ₹80 lakh cryptocurrency scam involving fake USDT (Tether) trading. Eight individuals were arrested across different city locations during a coordinated operation using digital surveillance and intelligence inputs.
👮♂️ Authorities revealed the gang operated through:
🔹 Foreign crypto handlers
🔹 Mule bank accounts
🔹 Untraceable wallets over the TRC-20 network
💬 Transactions were run via Telegram channels controlled from abroad. The gang avoided legal exchanges, instead using peer-to-peer (P2P) wallets with no KYC, ensuring complete anonymity.
💸 Modus operandi:
Local individuals were paid to receive large amounts via NEFT/RTGS/IMPS.
Funds were withdrawn in cash the same day.
Money was handed to underground crypto brokers.
USDT was purchased anonymously.
🧾 The arrested couldn’t show valid trading records, GST papers, or verified wallets. Their wallets, mostly used for laundering, are out of Indian legal reach.
🔍 Seized Items:
📱 16 mobiles | 💻 2 laptops | 💵 ₹1.85 lakh cash
🚗 4 vehicles | 📒 Multiple cheque books & passbooks
👤 Those arrested: Men aged 21–40, from cities including Lucknow, Gonda, Barabanki, Raebareli & Basti.
🔍 Investigations continue to trace foreign handlers and more accounts. Further arrests are expected as authorities tighten the net around cross-border financial crimes masked as crypto trading.
⚖️ Case registered under multiple BNS and IT Act sections.
👁️ Authorities warn about rising crypto scams exploiting legal loopholes.
Thankyou
👍Follow me for more latest updates and insights.
$BTC
🚨 In a major cybercrime breakthrough, police have uncovered an ₹80 lakh cryptocurrency scam involving fake USDT (Tether) trading. Eight individuals were arrested across different city locations during a coordinated operation using digital surveillance and intelligence inputs.
👮♂️ Authorities revealed the gang operated through:
🔹 Foreign crypto handlers
🔹 Mule bank accounts
🔹 Untraceable wallets over the TRC-20 network
💬 Transactions were run via Telegram channels controlled from abroad. The gang avoided legal exchanges, instead using peer-to-peer (P2P) wallets with no KYC, ensuring complete anonymity.
💸 Modus operandi:
Local individuals were paid to receive large amounts via NEFT/RTGS/IMPS.
Funds were withdrawn in cash the same day.
Money was handed to underground crypto brokers.
USDT was purchased anonymously.
🧾 The arrested couldn’t show valid trading records, GST papers, or verified wallets. Their wallets, mostly used for laundering, are out of Indian legal reach.
🔍 Seized Items:
📱 16 mobiles | 💻 2 laptops | 💵 ₹1.85 lakh cash
🚗 4 vehicles | 📒 Multiple cheque books & passbooks
👤 Those arrested: Men aged 21–40, from cities including Lucknow, Gonda, Barabanki, Raebareli & Basti.
🔍 Investigations continue to trace foreign handlers and more accounts. Further arrests are expected as authorities tighten the net around cross-border financial crimes masked as crypto trading.
⚖️ Case registered under multiple BNS and IT Act sections.
👁️ Authorities warn about rising crypto scams exploiting legal loopholes.
Thankyou
👍Follow me for more latest updates and insights.
$BTC
📲 Scam mobile app: “Crypto Yield Pro”
Promised 5x returns — rug pulled day 3
Never trust unknown apps on Play Store
Follow @CryptoSalma33 for app safety
#FakeApps #CryptoFraud #Salma6422
Promised 5x returns — rug pulled day 3
Never trust unknown apps on Play Store
Follow @CryptoSalma33 for app safety
#FakeApps #CryptoFraud #Salma6422
🕵️♂️ Scam websites mimicking MetaMask app
One wrong click = empty wallet
Download only from official sources
Follow @CryptoSalma33 for scam detection tips.
#MetaMask #CryptoFraud #Salma6422
One wrong click = empty wallet
Download only from official sources
Follow @CryptoSalma33 for scam detection tips.
#MetaMask #CryptoFraud #Salma6422
🚨 MEXC Reports a 200% Surge in Trading Fraud in Q1 2025 🚨
Over 80,000 cases reported, with India, Indonesia, and the CIS leading the charge. Stay vigilant and protect your trades! 🔒
#CryptoFraud #MEXC
$USDC
Over 80,000 cases reported, with India, Indonesia, and the CIS leading the charge. Stay vigilant and protect your trades! 🔒
#CryptoFraud #MEXC
$USDC
💰 DOJ Targets $225M in Pig-Butchering Scam Crypto
What’s happening: U.S. authorities (DOJ, FBI, Secret Service) filed to seize $225M from scammers who ran fake crypto investments. Funds will be returned to over 400 victims.
Why it matters: Scam losses were over $5.8B in 2024 alone. This is one of the biggest crackdowns yet—and a strong signal from regulators.
💬 What do you think? Can enforcement curb scams—or will fraud just get smarter?
#CryptoScam #DOJ #PigButchering #CryptoFraud #CryptoJustice $BTC
What’s happening: U.S. authorities (DOJ, FBI, Secret Service) filed to seize $225M from scammers who ran fake crypto investments. Funds will be returned to over 400 victims.
Why it matters: Scam losses were over $5.8B in 2024 alone. This is one of the biggest crackdowns yet—and a strong signal from regulators.
💬 What do you think? Can enforcement curb scams—or will fraud just get smarter?
#CryptoScam #DOJ #PigButchering #CryptoFraud #CryptoJustice $BTC
Do Kwon Extradited to the U.S. Following Terra Luna Collapse
Do Kwon, the co-founder and former CEO of Terraform Labs, has officially been extradited to the United States to face criminal charges tied to the catastrophic collapse of the Terra Luna ecosystem. The extradition, facilitated by Montenegrin authorities in collaboration with Interpol, was confirmed by Montenegro’s Prime Minister Milojko Spajić on December 31. In his statement on X, Spajić highlighted Montenegro's dedication to fostering innovation while upholding international justice and maintaining zero tolerance for financial fraud.
This extradition marks a significant turn of events following months of deliberations and legal disputes. After serving a four-month sentence in Montenegro for using counterfeit travel documents, Kwon’s fate was decided by Montenegrin Justice Minister Bojan Božović, who approved his transfer to the U.S. on December 27. This decision came despite a competing request from South Korea, where Kwon also faces legal charges. Appeals from Kwon’s defense team delayed the process, but the final ruling underscored Montenegro’s commitment to the rule of law and international cooperation.
The legal challenges against Kwon in the U.S. are substantial. In March 2023, the U.S. Department of Justice charged him with eight serious offenses, including commodities and wire fraud, as well as conspiracy to manipulate markets. Additionally, the Securities and Exchange Commission (SEC) previously secured a court ruling in April holding Kwon and Terraform Labs liable for fraud. The resulting settlement included approximately $4.5 billion in penalties and disgorgement. While it remains unclear when Kwon will appear in a U.S. court, his extradition brings him closer to facing accountability for his actions.
The collapse of the Terra Luna ecosystem in May 2022 wiped out $50 billion in market value within days, causing widespread financial losses for investors worldwide
#DoKwonExtradition
#TerraLunaCollapse
#CryptocurrencyNews
#BlockchainRegulation
#CryptoFraud
Do Kwon, the co-founder and former CEO of Terraform Labs, has officially been extradited to the United States to face criminal charges tied to the catastrophic collapse of the Terra Luna ecosystem. The extradition, facilitated by Montenegrin authorities in collaboration with Interpol, was confirmed by Montenegro’s Prime Minister Milojko Spajić on December 31. In his statement on X, Spajić highlighted Montenegro's dedication to fostering innovation while upholding international justice and maintaining zero tolerance for financial fraud.
This extradition marks a significant turn of events following months of deliberations and legal disputes. After serving a four-month sentence in Montenegro for using counterfeit travel documents, Kwon’s fate was decided by Montenegrin Justice Minister Bojan Božović, who approved his transfer to the U.S. on December 27. This decision came despite a competing request from South Korea, where Kwon also faces legal charges. Appeals from Kwon’s defense team delayed the process, but the final ruling underscored Montenegro’s commitment to the rule of law and international cooperation.
The legal challenges against Kwon in the U.S. are substantial. In March 2023, the U.S. Department of Justice charged him with eight serious offenses, including commodities and wire fraud, as well as conspiracy to manipulate markets. Additionally, the Securities and Exchange Commission (SEC) previously secured a court ruling in April holding Kwon and Terraform Labs liable for fraud. The resulting settlement included approximately $4.5 billion in penalties and disgorgement. While it remains unclear when Kwon will appear in a U.S. court, his extradition brings him closer to facing accountability for his actions.
The collapse of the Terra Luna ecosystem in May 2022 wiped out $50 billion in market value within days, causing widespread financial losses for investors worldwide
#DoKwonExtradition
#TerraLunaCollapse
#CryptocurrencyNews
#BlockchainRegulation
#CryptoFraud
Protecting Americans from Digital Asset Fraud: A Ticking Time Bomb
The digital asset boom has unleashed a Wild West of opportunity—and danger. Cryptocurrencies, NFTs, and tokenized dreams promise riches, but beneath the hype lurks a cesspool of fraud draining Americans dry. In 2024 alone, the FTC reported over $2.5 billion lost to crypto scams, a 300% spike from two years prior. This isn’t a glitch; it’s an explosion of exploitation, and the U.S. government must ignite a counterattack—now.
Scammers aren’t just hacking wallets; they’re masterminding Ponzi schemes, rug pulls, and fake ICOs with surgical precision. Take the “Hyperledger Token” scam—$50 million vanished overnight after a slick X campaign hooked desperate investors. Posts bragged “10x returns in 30 days,” linking to polished sites that evaporated post-heist. I dug into the X profiles pushing this garbage—bots and bought influencers, every one. The links? Dead ends hosted on shady offshore servers. This is the norm, not the exception.
Victims aren’t just tech bros. Retirees, small business owners, even teachers are losing life savings to these digital bandits. The SEC’s cracking down, sure—$1.7 billion in penalties last year—but it’s a Band-Aid on a gunshot wound. Fraudsters adapt faster than regulators can type. Web searches reveal X posts warning of scams after the damage is done, while crooks pivot to new cons daily.
We need a detonation of action: real-time monitoring of blockchain transactions, mandatory KYC for crypto platforms, and an AI-driven task force to sniff out scams before they blow up. Education’s key—teach Americans to spot red flags like “guaranteed returns” or sketchy X hype. Congress must stop debating and start legislating. The clock’s ticking, and every delay lets another fraud bomb drop.
Protecting Americans isn’t optional—it’s urgent. Digital assets can innovate, but not at the cost of our security. #CryptoFraud #ProtectAmericans #DigitalJustice #MarketRebound #TrumpCongressSpeech
The digital asset boom has unleashed a Wild West of opportunity—and danger. Cryptocurrencies, NFTs, and tokenized dreams promise riches, but beneath the hype lurks a cesspool of fraud draining Americans dry. In 2024 alone, the FTC reported over $2.5 billion lost to crypto scams, a 300% spike from two years prior. This isn’t a glitch; it’s an explosion of exploitation, and the U.S. government must ignite a counterattack—now.
Scammers aren’t just hacking wallets; they’re masterminding Ponzi schemes, rug pulls, and fake ICOs with surgical precision. Take the “Hyperledger Token” scam—$50 million vanished overnight after a slick X campaign hooked desperate investors. Posts bragged “10x returns in 30 days,” linking to polished sites that evaporated post-heist. I dug into the X profiles pushing this garbage—bots and bought influencers, every one. The links? Dead ends hosted on shady offshore servers. This is the norm, not the exception.
Victims aren’t just tech bros. Retirees, small business owners, even teachers are losing life savings to these digital bandits. The SEC’s cracking down, sure—$1.7 billion in penalties last year—but it’s a Band-Aid on a gunshot wound. Fraudsters adapt faster than regulators can type. Web searches reveal X posts warning of scams after the damage is done, while crooks pivot to new cons daily.
We need a detonation of action: real-time monitoring of blockchain transactions, mandatory KYC for crypto platforms, and an AI-driven task force to sniff out scams before they blow up. Education’s key—teach Americans to spot red flags like “guaranteed returns” or sketchy X hype. Congress must stop debating and start legislating. The clock’s ticking, and every delay lets another fraud bomb drop.
Protecting Americans isn’t optional—it’s urgent. Digital assets can innovate, but not at the cost of our security. #CryptoFraud #ProtectAmericans #DigitalJustice #MarketRebound #TrumpCongressSpeech
🚨 Мошенники атакуют Coinbase! 💸🔥
За 2 месяца пользователи потеряли $65 000 000 из-за хитрых схем социальной инженерии! 😱
💀 Как работают аферисты?
🔹 Клонируют сайт Coinbase 🕵️♂️
🔹 Рассылают страшные письма о «взломе» аккаунта 📩
🔹 Убеждают перевести деньги на «безопасный счёт» 💰➡️🕳️
👉 Как не попасться?
✅ Не кликайте по подозрительным ссылкам 🛑
✅ Проверяйте URL сайта перед входом 🔍
✅ Дважды подумайте, прежде чем переводить средства 🤔
Берегите свои криптодоллары! 💎💪 Будьте на шаг впереди мошенников!
#Coinbase #CryptoScam #Security #CryptoFraud #StaySafe #Bitcoin
За 2 месяца пользователи потеряли $65 000 000 из-за хитрых схем социальной инженерии! 😱
💀 Как работают аферисты?
🔹 Клонируют сайт Coinbase 🕵️♂️
🔹 Рассылают страшные письма о «взломе» аккаунта 📩
🔹 Убеждают перевести деньги на «безопасный счёт» 💰➡️🕳️
👉 Как не попасться?
✅ Не кликайте по подозрительным ссылкам 🛑
✅ Проверяйте URL сайта перед входом 🔍
✅ Дважды подумайте, прежде чем переводить средства 🤔
Берегите свои криптодоллары! 💎💪 Будьте на шаг впереди мошенников!
#Coinbase #CryptoScam #Security #CryptoFraud #StaySafe #Bitcoin
🚨 **Breaking News**: SEC charges Diana Mae Fernandez with fraud for promising cryptocurrency investments with guaranteed returns and embezzling $364,000 from at least 20 investors 🕵️♂️💼 #cryptofraud 🔒🚫
🚨 BREAKING: #SEC cracks down on $1.7B #cryptofraud that operated under several names, such as HyperFund, HyperVerse and HyperTech.
Allegedly hiring an actor CEO, they promised high returns and planned Hong Kong Stock Exchange listing. Funds were used for luxury purchases.
#Breaking #CryptoNews🔒📰🚫
Allegedly hiring an actor CEO, they promised high returns and planned Hong Kong Stock Exchange listing. Funds were used for luxury purchases.
#Breaking #CryptoNews🔒📰🚫
Hong Kong Fraud Group Using Deepfakes Exposed – Pretended to Be Wealthy Single Women
Seized Notebooks Revealed Sophisticated Scams
Hong Kong police uncovered a sophisticated fraud scheme that used artificial intelligence to deceive victims. The investigation led to the seizure of over HK$34 million (approximately USD 3.37 million). Notebooks confiscated by law enforcement revealed the criminals' methods, including the use of deepfake technology to appear more convincing.
How the Fraudsters Lured Their Victims
The fraudsters pretended to be wealthy single women, crafting stories about interests such as learning Japanese, playing golf, or tasting luxury wines worth over HK$100,000 (USD 12,850) per bottle. These methods were documented in the notebooks seized during the operation.
The investigation resulted in the arrest of 31 individuals connected to a criminal syndicate. This group used artificial intelligence to create realistic images of attractive women, which were then used to lure victims into romantic and investment scams.
The Problem of Deepfake Scams
Byron Boston, a former police officer and CEO of Crypto Track, warned that the combination of deepfake technology and social engineering presents significant challenges for investigators and law enforcement. AI-generated images make criminals more convincing and enable them to execute more complex scams.
Boston highlighted an incident from November 2022, where a fake video impersonating FTX founder Sam Bankman-Fried was used in a phishing attack targeting FTX users. This incident demonstrates how deepfake technologies can be exploited to steal cryptocurrency assets from victims.
Scams Targeting Young People
Confiscated materials revealed that the fraudsters specifically targeted young people seeking quick earnings. Victims were often convinced they were communicating with ideal women from Taiwan, Singapore, and Malaysia.
Challenges in Combating These Crimes
Boston emphasized that effective collaboration and swift action are key to fighting these sophisticated scams. However, he noted that many local law enforcement agencies, particularly in the U.S., lack the necessary tools and expertise to track stolen cryptocurrency or cooperate with international exchanges.
Criminals leveraging technologies like deepfake and social engineering remain a significant challenge for security forces worldwide.
#Deepfake , #CryptoFraud , #CryptoScams , #cybercrime , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Hong Kong police uncovered a sophisticated fraud scheme that used artificial intelligence to deceive victims. The investigation led to the seizure of over HK$34 million (approximately USD 3.37 million). Notebooks confiscated by law enforcement revealed the criminals' methods, including the use of deepfake technology to appear more convincing.
How the Fraudsters Lured Their Victims
The fraudsters pretended to be wealthy single women, crafting stories about interests such as learning Japanese, playing golf, or tasting luxury wines worth over HK$100,000 (USD 12,850) per bottle. These methods were documented in the notebooks seized during the operation.
The investigation resulted in the arrest of 31 individuals connected to a criminal syndicate. This group used artificial intelligence to create realistic images of attractive women, which were then used to lure victims into romantic and investment scams.
The Problem of Deepfake Scams
Byron Boston, a former police officer and CEO of Crypto Track, warned that the combination of deepfake technology and social engineering presents significant challenges for investigators and law enforcement. AI-generated images make criminals more convincing and enable them to execute more complex scams.
Boston highlighted an incident from November 2022, where a fake video impersonating FTX founder Sam Bankman-Fried was used in a phishing attack targeting FTX users. This incident demonstrates how deepfake technologies can be exploited to steal cryptocurrency assets from victims.
Scams Targeting Young People
Confiscated materials revealed that the fraudsters specifically targeted young people seeking quick earnings. Victims were often convinced they were communicating with ideal women from Taiwan, Singapore, and Malaysia.
Challenges in Combating These Crimes
Boston emphasized that effective collaboration and swift action are key to fighting these sophisticated scams. However, he noted that many local law enforcement agencies, particularly in the U.S., lack the necessary tools and expertise to track stolen cryptocurrency or cooperate with international exchanges.
Criminals leveraging technologies like deepfake and social engineering remain a significant challenge for security forces worldwide.
#Deepfake , #CryptoFraud , #CryptoScams , #cybercrime , #CryptoNewss
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Canadian crypto platform #ezBtc and its founder David Smillie defrauded customers, misappropriating C$13M ($9.5M) for gambling, per BCSC.
Over 935 $BTC and 159 $ETH were diverted for personal use.
#cryptofraud #Fraud #Fraud_alert #TrendingTopic
Over 935 $BTC and 159 $ETH were diverted for personal use.
#cryptofraud #Fraud #Fraud_alert #TrendingTopic
South Korea Cracks Down on Crypto Crime! New JIU Investigation Unit Launched
📢 South Korea has officially launched a specialized investigation unit focused on tackling crypto-related crimes and financial fraud. This elite team will target market manipulation, fraudulent projects, and other illegal activities in the crypto space.
🔎 The JIU Task Force: South Korea’s New Crypto Crime Unit
The Seoul District Prosecutors’ Office has announced the establishment of the Joint Investigation Unit for Virtual Asset Crimes (JIU), dedicated exclusively to crypto-related fraud and financial crimes.
🛑 Key Facts About JIU:
🔹 Comprised of 35 expert investigators, prosecutors, and financial regulators.
🔹 Works in coordination with the Financial Services Commission and the Financial Supervisory Service.
🔹 Led by Chief Prosecutor Park Geon-wook, along with two deputy prosecutors.
The unit aims to combat increasingly sophisticated and international crypto fraud schemes that have been rapidly growing in South Korea.
💰 From Temporary Task Force to Permanent Investigation Unit
🚀 Originally formed as a temporary task force in 2023, the unit was created to address the rising number of crypto-related fraud cases. However, with a significant increase in cases over the past two years, authorities decided to upgrade it to a full-fledged investigative department.
📊 Since July 2023, the unit has achieved remarkable results:
✅ Indicted 74 individuals for crypto fraud.
✅ Arrested 25 suspects involved in market manipulation and other illegal activities.
✅ Seized assets and funds from fraudulent crypto projects.
💬 "As crypto crimes become more sophisticated and international, we will strengthen our response system by closely cooperating with relevant agencies," a prosecution official stated during the unit’s inauguration.
⚖️ Major Cases Handled by the Task Force
🔹 December 2023 – The task force arrested the CEO of a crypto firm who manipulated token prices, generating $4.8 million in illegal profits.
🔹 Arrest of famous shaman Jeon Seong-bae – involved in a fraudulent crypto project called "Queen B," which scammed hundreds of investors.
🔹 Crypto-related murder – A Chinese citizen was allegedly murdered in Jeju during a crypto transaction, with suspects fleeing with 85 million won ($63,500 USD).
🚀 What This Means for the Future of Crypto in South Korea?
📉 This move signals South Korea’s tightening grip on crypto regulation to protect investors from fraudulent schemes.
✅ Stronger regulations may help stabilize the market and boost trust in crypto.
✅ Cracking down on market manipulation and money laundering could lead to a safer trading environment.
✅ Other countries might follow South Korea’s lead in setting up similar crypto investigation units.
💭 What do you think about South Korea’s move? Should other countries create similar crypto crime task forces? Share your thoughts in the comments! ⬇️
#CryptoCrime , #CryptoRegulation , #CryptoNewss , #CryptoSecurity , #CryptoFraud
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
🔎 The JIU Task Force: South Korea’s New Crypto Crime Unit
The Seoul District Prosecutors’ Office has announced the establishment of the Joint Investigation Unit for Virtual Asset Crimes (JIU), dedicated exclusively to crypto-related fraud and financial crimes.
🛑 Key Facts About JIU:
🔹 Comprised of 35 expert investigators, prosecutors, and financial regulators.
🔹 Works in coordination with the Financial Services Commission and the Financial Supervisory Service.
🔹 Led by Chief Prosecutor Park Geon-wook, along with two deputy prosecutors.
The unit aims to combat increasingly sophisticated and international crypto fraud schemes that have been rapidly growing in South Korea.
💰 From Temporary Task Force to Permanent Investigation Unit
🚀 Originally formed as a temporary task force in 2023, the unit was created to address the rising number of crypto-related fraud cases. However, with a significant increase in cases over the past two years, authorities decided to upgrade it to a full-fledged investigative department.
📊 Since July 2023, the unit has achieved remarkable results:
✅ Indicted 74 individuals for crypto fraud.
✅ Arrested 25 suspects involved in market manipulation and other illegal activities.
✅ Seized assets and funds from fraudulent crypto projects.
💬 "As crypto crimes become more sophisticated and international, we will strengthen our response system by closely cooperating with relevant agencies," a prosecution official stated during the unit’s inauguration.
⚖️ Major Cases Handled by the Task Force
🔹 December 2023 – The task force arrested the CEO of a crypto firm who manipulated token prices, generating $4.8 million in illegal profits.
🔹 Arrest of famous shaman Jeon Seong-bae – involved in a fraudulent crypto project called "Queen B," which scammed hundreds of investors.
🔹 Crypto-related murder – A Chinese citizen was allegedly murdered in Jeju during a crypto transaction, with suspects fleeing with 85 million won ($63,500 USD).
🚀 What This Means for the Future of Crypto in South Korea?
📉 This move signals South Korea’s tightening grip on crypto regulation to protect investors from fraudulent schemes.
✅ Stronger regulations may help stabilize the market and boost trust in crypto.
✅ Cracking down on market manipulation and money laundering could lead to a safer trading environment.
✅ Other countries might follow South Korea’s lead in setting up similar crypto investigation units.
💭 What do you think about South Korea’s move? Should other countries create similar crypto crime task forces? Share your thoughts in the comments! ⬇️
#CryptoCrime , #CryptoRegulation , #CryptoNewss , #CryptoSecurity , #CryptoFraud
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Chinese Police Uncover Fraudsters Posing as “Investment Masters”
Shanghai Police Bust Cryptocurrency Scam Gang
Shanghai police successfully dismantled an organized group of fraudsters who scammed victims through fake investment platforms targeting cryptocurrency traders. Investigators in the Yangpu District arrested 16 individuals involved in the fraudulent scheme following an extensive investigation.
Fraudsters Used Fake Identities and Manipulation
The investigation revealed that the gang, led by individuals identified as Yang and Yu, infiltrated cryptocurrency investment chat groups while posing as “investment masters.” Using this tactic, they gained the trust of victims and directed them to a fake platform for cryptocurrency contract trading, which they had created.
On this platform, the fraudsters exploited victims’ desire for quick profits. Victims were persuaded to execute multiple trades, incurring high fees in the process. Manipulative tactics included convincing victims to increase their investments using a fraudulent “profit and loss ratio” mechanism. This trick led victims to believe their financial losses were due to poor market decisions rather than the fraudulent platform, allowing the gang to extract even more funds.
Arrests and Suspects’ Confessions
Following their arrest, all suspects admitted to their crimes. The Yangpu District police have placed the 16 individuals under compulsory criminal measures on suspicion of fraud. The case is currently under further investigation, according to authorities.
Conclusion
This case highlights the growing risks associated with cryptocurrency investments and fraudulent platforms. Police urge the public to exercise caution when engaging with unverified investment schemes and platforms.
#CryptoFraud , #CryptoNewss , #bitcoin , #ChinaCrypto , #Cryptoscam
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Shanghai police successfully dismantled an organized group of fraudsters who scammed victims through fake investment platforms targeting cryptocurrency traders. Investigators in the Yangpu District arrested 16 individuals involved in the fraudulent scheme following an extensive investigation.
Fraudsters Used Fake Identities and Manipulation
The investigation revealed that the gang, led by individuals identified as Yang and Yu, infiltrated cryptocurrency investment chat groups while posing as “investment masters.” Using this tactic, they gained the trust of victims and directed them to a fake platform for cryptocurrency contract trading, which they had created.
On this platform, the fraudsters exploited victims’ desire for quick profits. Victims were persuaded to execute multiple trades, incurring high fees in the process. Manipulative tactics included convincing victims to increase their investments using a fraudulent “profit and loss ratio” mechanism. This trick led victims to believe their financial losses were due to poor market decisions rather than the fraudulent platform, allowing the gang to extract even more funds.
Arrests and Suspects’ Confessions
Following their arrest, all suspects admitted to their crimes. The Yangpu District police have placed the 16 individuals under compulsory criminal measures on suspicion of fraud. The case is currently under further investigation, according to authorities.
Conclusion
This case highlights the growing risks associated with cryptocurrency investments and fraudulent platforms. Police urge the public to exercise caution when engaging with unverified investment schemes and platforms.
#CryptoFraud , #CryptoNewss , #bitcoin , #ChinaCrypto , #Cryptoscam
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
Private Jets, Political Donations, and Billion-Dollar Losses: Seized from Sam Bankman-Fried
Federal Court Confirms the Extent of SBF’s Forfeited Assets
The U.S. government has officially finalized the confiscation of Sam Bankman-Fried's (SBF) assets, the former CEO of the collapsed FTX exchange. Among the most notable items on the nearly $1 billion forfeiture list are $606 million from the sale of Robinhood shares and two private jets.
Court documents detail dozens of pages of assets that SBF owned before his conviction for fraud, including vast cryptocurrency holdings, bank accounts, investments, and political contributions.
💰 The Largest Asset: $606 Million in Robinhood Shares
The most valuable forfeited asset was $606 million from the sale of Robinhood shares, held by Emergent Fidelity Technologies, one of SBF’s firms.
Other seized financial assets include:
✅ $119 million in Tether (USDT) on Binance for Alameda Research
✅ $21 million in Marex, held for Emergent Fidelity Technologies
✅ $50 million in Moonstone Bank, designated for FTX Digital Markets
✅ $101 million in Silvergate, also for FTX Digital Markets
✅ $7 million in Flagstar Bank, held under SBF and another individual
✈️ Two Private Jets Among the Seized Assets
Luxury items seized in the case include two private jets:
2009 Bombardier Global 50002006 Embraer Legacy
These jets were part of Bankman-Fried’s extravagant lifestyle, despite his public image as a modest billionaire.
🔗 Alameda’s Crypto Portfolio – Millions in Digital Assets
Alongside traditional assets, the government seized a significant cryptocurrency portfolio belonging to Alameda Research, the trading firm co-founded by SBF.
📌 According to records, assets on Binance included:
$56 million in XRP (Ripple)$3.6 million in TRX (Tron)$3.4 million in ADA (Cardano)$2.3 million in BTC (Bitcoin)Numerous other smaller cryptocurrency holdings
💸 Political Donations Totaling Hundreds of Millions
Court filings also exposed a vast network of political contributions, with over 250 individual donations.
🔹 FTX and SBF played a major role in financing U.S. politics, with one in three members of Congress reportedly receiving funds from Bankman-Fried or other FTX executives.
🔹 Donations were distributed among various campaigns and organizations, spanning both federal and state-level political entities.
🔹 Documents suggest that some FTX executives made donations on behalf of SBF, possibly to bypass political funding limits.
⚖️ FTX Begins First Payouts to Creditors
Alongside the asset forfeiture ruling, FTX has begun its first round of repayments to creditors.
✅ A total of $1.2 billion has been distributed to those with smaller claims.
✅ These creditors received approximately 119% of their original holdings, based on the value they had at the time of FTX’s collapse in 2022.
✅ However, they missed out on the significant crypto market recovery that could have yielded even greater returns.
🔮 What’s Next?
🔹 More rounds of FTX creditor repayments are expected – the key question remains whether all victims will receive fair compensation.
🔹 Investigations into SBF’s political funding could lead to further legal consequences.
🔹 The fate of luxury assets, including the private jets, will likely be decided through government auctions.
👉 What do you think about the fate of Sam Bankman-Fried’s seized assets? Should the government redistribute the funds to affected investors? Share your thoughts! ⚖️🚀
#SamBankman-Fried , #FTX , #CryptoNewss , #CryptoFraud , #FTXScamAlert
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
The U.S. government has officially finalized the confiscation of Sam Bankman-Fried's (SBF) assets, the former CEO of the collapsed FTX exchange. Among the most notable items on the nearly $1 billion forfeiture list are $606 million from the sale of Robinhood shares and two private jets.
Court documents detail dozens of pages of assets that SBF owned before his conviction for fraud, including vast cryptocurrency holdings, bank accounts, investments, and political contributions.
💰 The Largest Asset: $606 Million in Robinhood Shares
The most valuable forfeited asset was $606 million from the sale of Robinhood shares, held by Emergent Fidelity Technologies, one of SBF’s firms.
Other seized financial assets include:
✅ $119 million in Tether (USDT) on Binance for Alameda Research
✅ $21 million in Marex, held for Emergent Fidelity Technologies
✅ $50 million in Moonstone Bank, designated for FTX Digital Markets
✅ $101 million in Silvergate, also for FTX Digital Markets
✅ $7 million in Flagstar Bank, held under SBF and another individual
✈️ Two Private Jets Among the Seized Assets
Luxury items seized in the case include two private jets:
2009 Bombardier Global 50002006 Embraer Legacy
These jets were part of Bankman-Fried’s extravagant lifestyle, despite his public image as a modest billionaire.
🔗 Alameda’s Crypto Portfolio – Millions in Digital Assets
Alongside traditional assets, the government seized a significant cryptocurrency portfolio belonging to Alameda Research, the trading firm co-founded by SBF.
📌 According to records, assets on Binance included:
$56 million in XRP (Ripple)$3.6 million in TRX (Tron)$3.4 million in ADA (Cardano)$2.3 million in BTC (Bitcoin)Numerous other smaller cryptocurrency holdings
💸 Political Donations Totaling Hundreds of Millions
Court filings also exposed a vast network of political contributions, with over 250 individual donations.
🔹 FTX and SBF played a major role in financing U.S. politics, with one in three members of Congress reportedly receiving funds from Bankman-Fried or other FTX executives.
🔹 Donations were distributed among various campaigns and organizations, spanning both federal and state-level political entities.
🔹 Documents suggest that some FTX executives made donations on behalf of SBF, possibly to bypass political funding limits.
⚖️ FTX Begins First Payouts to Creditors
Alongside the asset forfeiture ruling, FTX has begun its first round of repayments to creditors.
✅ A total of $1.2 billion has been distributed to those with smaller claims.
✅ These creditors received approximately 119% of their original holdings, based on the value they had at the time of FTX’s collapse in 2022.
✅ However, they missed out on the significant crypto market recovery that could have yielded even greater returns.
🔮 What’s Next?
🔹 More rounds of FTX creditor repayments are expected – the key question remains whether all victims will receive fair compensation.
🔹 Investigations into SBF’s political funding could lead to further legal consequences.
🔹 The fate of luxury assets, including the private jets, will likely be decided through government auctions.
👉 What do you think about the fate of Sam Bankman-Fried’s seized assets? Should the government redistribute the funds to affected investors? Share your thoughts! ⚖️🚀
#SamBankman-Fried , #FTX , #CryptoNewss , #CryptoFraud , #FTXScamAlert
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“
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