Cryptocurrency Fraud
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FTX Law Firm Fenwick & West Agrees to $54 Million Settlement With Customers
Fenwick & West LLP, the law firm that advised collapsed crypto exchange FTX, has agreed to pay $54 million to settle a class action lawsuit filed by former users. The firm was accused of helping FTX conceal the misuse of customer funds and facilitating legal structures tied to the exchange’s operations.
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Law Firm Fenwick & West Sued Over Alleged Role in FTX Collapse
Fenwick & West LLP is facing a $525 million lawsuit filed by a group of FTX victims who allege the firm helped conceal fraud tied to the collapsed crypto exchange. The complaint cites shell companies, internal messaging systems, and testimony from former FTX executives.
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Conviction Rate At 94% Despite Legal Challenges, Says Probe Agency Chief
He added, "Today, the criminal landscape is defined by cryptocurrency fraud, cyber-enabled financial crimes, terror financing, anti-national activities, and narcotics trafficking."
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US Judge Rejects Former FTX CEO Sam Bankman-Fried’s Bid for New Trial
A US federal judge has denied Sam Bankman-Fried’s request for a new trial, stating that the motion lacked new evidence. The development comes as the former FTX CEO continues to pursue legal remedies following his conviction in one of the largest crypto fraud cases.
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Scammers Offer Passage to Ships Stranded Near Strait of Hormuz in Exchange for Crypto: Report
Scammers posing as Iranian officials are targeting ships stranded at the Strait of Hormuz, demanding crypto payments for safe passage. Authorities warn that such transactions could carry sanctions risks, adding financial fraud concerns to an already tense geopolitical situation in a key global trade route.
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US Musician Loses Bitcoin Funds Due to Fake Ledger App
American musician G.Love lost $420,000 in Bitcoin after installing a fake Ledger Live app. The scam highlights growing risks from malicious apps and phishing attacks in the crypto ecosystem. Experts warn users to verify sources and safeguard seed phrases as crypto-related fraud continues to rise.
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Blockchain Sleuth Claims DPRK Unit Made $1 Million a Month Posing as Crypto IT Workers
A North Korean hacking unit allegedly earned over $3.5 million by posing as IT workers and infiltrating crypto projects. The group used fake identities, forged documents, and coordinated through shared platforms to carry out fraud and move funds. The findings highlight growing concerns around state-backed cyber activity in the crypto sector.
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China Urges Banks to Use Blockchain for Lending, Tax Data Sharing
China is encouraging banks to adopt blockchain technology to enable secure sharing of tax data and improve lending processes. The initiative is expected to enhance transparency, reduce fraud risks, and make credit more accessible, especially for small businesses. It also reflects the country’s focus on using blockchain in regulated financial syst...
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Court Drops Fraud Case Against CoinDCX Founders, Says No Evidence Found
A Thane court has ruled that there is no case against CoinDCX co-founders in an impersonation-linked fraud. The court found no evidence connecting them to the alleged scam, which was carried out by individuals posing as the founders. The decision offers relief to the company while highlighting risks of impersonation in the crypto sector.
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Two Co-Founders of Crypto Exchange CoinDCX Held on Charges of Fraud
CoinDCX founders Sumit Gupta and Neeraj Khandelwal have been arrested by Thane police for allegedly being involved in a ₹71.6‑lakh fraud. Officials say the case links them to cheating through the crypto platform. However, the company claims the FIR is false and says impersonators pretended to be its founders to fool the public and create a cons...
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Operation Atlantic: Canada, UK and US Conduct Joint Operation to Disrupt Crypto Fraud Networks
Law enforcement agencies from the US, UK, and Canada have launched a joint operation to combat crypto-related fraud. The initiative focuses on tackling cross-border scams, including phishing and investment fraud schemes, through coordinated enforcement and intelligence sharing.
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US SEC Drops Fraud Case Against BitClout Founder Nader Al-Naji
The US Securities and Exchange Commission has dismissed its civil fraud lawsuit against BitClout founder Nader Al-Naji. The case accused him of raising $257 million (roughly Rs. 2,374 crore) through the sale of the project’s native token while allegedly misleading investors about how the funds would be used. The case was dismissed with prejudice...
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US Treasury Department Sanctions North Korea-Linked Network Over Crypto IT Worker Fraud
The US Treasury has sanctioned individuals and entities tied to a North Korea-linked IT worker scheme that allegedly used fake identities to secure remote tech jobs and funnel earnings through cryptocurrency. Officials say the network helped generate illicit revenue for the North Korean regime.
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Immigration Officer Loses Rs 79 Lakh In Cryptocurrency Investment Fraud
A 41-year-old immigration officer working at Malaysia's consulate general office in Mumbai has lost nearly Rs 79 lakh in a cryptocurrency investment scam, police said on Thursday.
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Navi Mumbai Loan Consultant Loses Rs 72 Lakh In Crypto Fraud
A 56-year-old loan consultant from Maharashtra's Navi Mumbai township has allegedly been duped of Rs 72.7 lakh in a cryptocurrency investment fraud, police said on Monday.
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FTX Law Firm Fenwick & West Agrees to $54 Million Settlement With Customers
Fenwick & West LLP, the law firm that advised collapsed crypto exchange FTX, has agreed to pay $54 million to settle a class action lawsuit filed by former users. The firm was accused of helping FTX conceal the misuse of customer funds and facilitating legal structures tied to the exchange’s operations.
-
Law Firm Fenwick & West Sued Over Alleged Role in FTX Collapse
Fenwick & West LLP is facing a $525 million lawsuit filed by a group of FTX victims who allege the firm helped conceal fraud tied to the collapsed crypto exchange. The complaint cites shell companies, internal messaging systems, and testimony from former FTX executives.
-
Conviction Rate At 94% Despite Legal Challenges, Says Probe Agency Chief
He added, "Today, the criminal landscape is defined by cryptocurrency fraud, cyber-enabled financial crimes, terror financing, anti-national activities, and narcotics trafficking."
-
US Judge Rejects Former FTX CEO Sam Bankman-Fried’s Bid for New Trial
A US federal judge has denied Sam Bankman-Fried’s request for a new trial, stating that the motion lacked new evidence. The development comes as the former FTX CEO continues to pursue legal remedies following his conviction in one of the largest crypto fraud cases.
-
Scammers Offer Passage to Ships Stranded Near Strait of Hormuz in Exchange for Crypto: Report
Scammers posing as Iranian officials are targeting ships stranded at the Strait of Hormuz, demanding crypto payments for safe passage. Authorities warn that such transactions could carry sanctions risks, adding financial fraud concerns to an already tense geopolitical situation in a key global trade route.
-
US Musician Loses Bitcoin Funds Due to Fake Ledger App
American musician G.Love lost $420,000 in Bitcoin after installing a fake Ledger Live app. The scam highlights growing risks from malicious apps and phishing attacks in the crypto ecosystem. Experts warn users to verify sources and safeguard seed phrases as crypto-related fraud continues to rise.
-
Blockchain Sleuth Claims DPRK Unit Made $1 Million a Month Posing as Crypto IT Workers
A North Korean hacking unit allegedly earned over $3.5 million by posing as IT workers and infiltrating crypto projects. The group used fake identities, forged documents, and coordinated through shared platforms to carry out fraud and move funds. The findings highlight growing concerns around state-backed cyber activity in the crypto sector.
-
China Urges Banks to Use Blockchain for Lending, Tax Data Sharing
China is encouraging banks to adopt blockchain technology to enable secure sharing of tax data and improve lending processes. The initiative is expected to enhance transparency, reduce fraud risks, and make credit more accessible, especially for small businesses. It also reflects the country’s focus on using blockchain in regulated financial syst...
-
Court Drops Fraud Case Against CoinDCX Founders, Says No Evidence Found
A Thane court has ruled that there is no case against CoinDCX co-founders in an impersonation-linked fraud. The court found no evidence connecting them to the alleged scam, which was carried out by individuals posing as the founders. The decision offers relief to the company while highlighting risks of impersonation in the crypto sector.
-
Two Co-Founders of Crypto Exchange CoinDCX Held on Charges of Fraud
CoinDCX founders Sumit Gupta and Neeraj Khandelwal have been arrested by Thane police for allegedly being involved in a ₹71.6‑lakh fraud. Officials say the case links them to cheating through the crypto platform. However, the company claims the FIR is false and says impersonators pretended to be its founders to fool the public and create a cons...
-
Operation Atlantic: Canada, UK and US Conduct Joint Operation to Disrupt Crypto Fraud Networks
Law enforcement agencies from the US, UK, and Canada have launched a joint operation to combat crypto-related fraud. The initiative focuses on tackling cross-border scams, including phishing and investment fraud schemes, through coordinated enforcement and intelligence sharing.
-
US SEC Drops Fraud Case Against BitClout Founder Nader Al-Naji
The US Securities and Exchange Commission has dismissed its civil fraud lawsuit against BitClout founder Nader Al-Naji. The case accused him of raising $257 million (roughly Rs. 2,374 crore) through the sale of the project’s native token while allegedly misleading investors about how the funds would be used. The case was dismissed with prejudice...
-
US Treasury Department Sanctions North Korea-Linked Network Over Crypto IT Worker Fraud
The US Treasury has sanctioned individuals and entities tied to a North Korea-linked IT worker scheme that allegedly used fake identities to secure remote tech jobs and funnel earnings through cryptocurrency. Officials say the network helped generate illicit revenue for the North Korean regime.
-
Immigration Officer Loses Rs 79 Lakh In Cryptocurrency Investment Fraud
A 41-year-old immigration officer working at Malaysia's consulate general office in Mumbai has lost nearly Rs 79 lakh in a cryptocurrency investment scam, police said on Thursday.
-
Navi Mumbai Loan Consultant Loses Rs 72 Lakh In Crypto Fraud
A 56-year-old loan consultant from Maharashtra's Navi Mumbai township has allegedly been duped of Rs 72.7 lakh in a cryptocurrency investment fraud, police said on Monday.
