1. British Businessman Sued Over £330M Crypto Ponzi Scheme
Peter McInnes, a Liverpool-born entrepreneur, faces a class-action lawsuit in New York accusing him of orchestrating a £330 million crypto Ponzi scam via platforms TradeAI and Stakx. Alleged victims, some of whom lost life savings, are seeking regulatory scrutiny and restitution.
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2. Spike in Crypto-Linked Kidnappings Alarms Investors
Over 231 physical attacks and kidnappings targeting crypto holders have been reported globally, including a $340,000 heist in Pakistan. High-profile cases have spooked the industry, prompting strengthened personal security and private protection measures.
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3. Singapore’s Crypto Crackdown Spurs Exodus to HK & Dubai
With new MAS regulations shutting down overseas-only trading desks by June 30, major players like Bybit and Bitget plan relocations to crypto-friendly hubs such as Hong Kong and Dubai. The crackdown aims to reinforce compliance and reputational standards.
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4. FATF Warns of $51B Illicit Crypto Flow
The Financial Action Task Force (FATF) reported $51 billion in illicit crypto transactions during 2024, with only 40 of 138 countries compliant with AML rules. The watchdog flagged stablecoins as a key vehicle for crime financing.