Yesterday, a federal decide in New York ordered Eddy Alexandre, founding father of the now-defunct cryptocurrency platform EminiFX, to pay $228 million in restitution for orchestrating a Ponzi scheme that defrauded tens of 1000’s of traders. EminiFX CEO To Pay $228 Million In Restitution In line with a court docket submitting revealed on August 19,…
A Texas magistrate judge has recommended dismissing most of a proposed class-action lawsuit against YouTuber Logan Paul over his collapsed NFT venture, CryptoZoo, in a ruling that could sharply weaken the case. Key Takeaways: A Texas magistrate judge recommended dismissing most claims in the CryptoZoo class-action lawsuit against Logan Paul. The judge permanently rejected the…
A self-styled crypto influencer has been sentenced to one year and one day in prison for orchestrating a large-scale cryptojacking scheme that defrauded major cloud computing providers of more than $3.5 million in resources. Key Takeaways: Crypto influencer Charles O. Parks III was sentenced to one year and a day for a $3.5M cloud cryptojacking…
Czech authorities have arrested convicted drug trafficker Tomas Jirikovsky in a deepening probe into a $45 million Bitcoin donation to the Ministry of Justice that ignited a political firestorm earlier this year. Key Takeaways: Czech police arrested convicted drug trafficker Tomas Jirikovsky over a $45M Bitcoin donation. The donation, accepted without verification by former Justice…
The FBI has issued an updated alert warning of fictitious law firms targeting crypto fraud victims with fraudulent recovery schemes, exploiting vulnerable populations, including the elderly, by impersonating legitimate lawyers and government entities. The sophisticated scams combine multiple exploitation tactics, offering false hope to victims desperate to recover funds from previous crypto frauds while stealing…
Older Americans are losing money to imposter scams at an alarming rate, with losses and case numbers surging to record highs, according to new data from the Federal Trade Commission (FTC). Key Takeaways: FTC data shows seniors’ imposter scam losses hit $700M in 2024, up 362% since 2020. Scammers pose as trusted officials or companies…
Crypto lender Abra has quietly paused withdrawals for international customers without public announcement, sparking fears of another major platform collapse similar to Celsius and BlockFi as desperate users flood social media demanding access to their frozen funds. According to DLNew, the platform, which claims to manage over $700 million in customer assets, notified some users…