The South Korean Customs Service (KCS) has dismantled a prison ring involving almost 150 billion received ($101.7 million) in crypto through a cash laundering scheme. Per the Korean Yonhap report, three Chinese nationals have been held for violating the international alternate transactions act. The cryptos have been laundered between September 2021 and June 2025 by…
US federal prosecutors have charged a 26-year-old Canadian citizen in reference to a $42 million fraud scheme, claiming to boost funds for investments in crypto, TradFi markets. Nathan Gauvin lured people on the social media platform Discord, directing buyers to place their cash into Gray Digital Capital Management Inc. and its Gray Fund merchandise. Multi-Million…
US District Judge Paul Engelmayer has requested prosecutors and protection legal professionals for detailed clarification on a sequence of unresolved points forward of Terraform Labs co-founder Do Kwon’s sentencing. This contains the potential for the crypto entrepreneur dealing with a further 40-year jail time period in South Korea after serving time within the United States….
A landmark crypto fraud case involving two brothers accused of stealing $25 million via an alleged exploit on Ethereum has ended with out a verdict. Key Takeaways: A US decide declared a mistrial within the landmark MEV fraud case towards brothers Anton and James Peraire-Bueno. Prosecutors accused the pair of exploiting Ethereum’s validator layer, calling…
Hong Kong authorities have filed fees towards 16 individuals, 12 males and 4 ladies, together with former barrister Joseph Lam Chok, in reference to the HK$1.6 billion (US$205.8 million) JPEX crypto fraud case. Police first exposed the case in September 2023, making it one of many metropolis’s largest monetary fraud probes, with losses of roughly…
Former Australian rugby league participant Trent Merrin has been charged with stealing cryptocurrency value about $140,000 (roughly $91,000 USD), following a year-long police investigation into what authorities describe as a misleading switch of digital belongings from a sufferer’s account. Merrin, 36, who performed 250 first-grade video games with the St. George Illawarra Dragons and the…
Denver District Court Judge Heidi Kutcher ordered pastor Eligio “Eli” Regalado Jr. and his spouse Kaitlyn to repay $3.39 million after ruling their INDXcoin crypto scheme defrauded over 600 church members and Christian neighborhood buyers. The judgment follows a three-day bench trial the place the court docket discovered the couple dedicated securities fraud by promoting…
Two parallel initiatives by law enforcement and private companies have frozen over $300 million in crypto in an anti-fraud crackdown. According to Bleeping Computer, blockchain intelligence firm TRM Labs, TRON, Tether, and Binance joined the T3 Financial Crime Unit (T3 FCU) initiative launched in September 2024. Dubbed the T3+ Global Collaborator Program, the operation has…
The CEO of South Korean crypto exchange Bitsonic has been sentenced to a second jail term for another fraud charge. CEO Shin Jin-wook already faces a 7-year sentence in prison for stealing 10 billion won ($7.5 million) worth of customer deposits. South Korean media outlet Digital Asset reported that a Daegu District Court judge sentenced…