crypto fraud

Entrepreneur Diana Mae Fernandez is facing charges from the Securities and Exchange Commission (SEC) for allegedly defrauding investors through promises of substantial returns from crypto investments while misappropriating the funds for personal use. What Happened: The SEC alleged that Fernandez...

U.S. Securities and Exchange Commission Chair Gary Gensler says widespread noncompliance among cryptocurrency companies is costing investors. What Happened: "There is a lot of noncompliance," Gensler said in a recent interview with CNBC. "This is really the Wild West." Gensler...

Following the conviction of Sam Bankman-Fried, U.S. Attorney Damian Williams has issued a stern warning to crypto fraudsters, promising “handcuffs for all.” According to a CoinDesk report, Williams, the U.S. Attorney for the Southern District of New...

SEC chief Gary Gensler remains resolute in his belief that many digital currencies fall under existing securities regulations, despite significant resistance from the crypto community. This perspective, which emphasizes that cryptocurrency enterprises are bound by the same guidelines as...

The U.S. Department of Justice (DOJ) explained in a letter that existing laws are sufficient to charge disgraced FTX (CRYPTO: FTT) founder Sam Bankman-Fried for his alleged involvement in fraudulent activities. The DOJ's letter to Judge Lewis Kaplan highlighted the defendant's request...

Bitget will soon require new users to undergo level 1 KYC (Know Your Customer) verification. Starting Sep. 1, users will have to provide an identification document, such as a passport, and undergoing facial recognition. Current users are given until Oct. 1 to fulfill this requirement. See Also:...

The U.S. Department of Justice (DOJ) is reportedly contemplating the possibility of bringing fraud charges against the cryptocurrency exchange Binance (CRYPTO: BNB). However, officials are expressing concerns about the potential impact on consumers, Semafor reported, quoting sources familiar with...

The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Richard Heart and his cryptocurrency projects, including Hex, PulseChain and PulseX. What Happened: Heart, also known as Richard Schueler, raised more than $1 billion through the sale of unregistered securities, the SEC...

Prominent YouTuber Jack, aka known online as "Blue," has been accused of orchestrating an elaborate phishing scam worth more than $1.5 million. These allegations stem from a detailed investigation led by on-chain sleuth ZachXBT. Originally known for his gaming and trolling content,...

The Commodity Futures Trading Commission (CFTC) has found that the now-defunct crypto lender Celsius Network (CRYPTO: CEL) and its previous CEO, Alex Mashinsky, violated U.S. regulations prior to the company's collapse. If the CFTC's commissioners concur with these findings, a lawsuit could...

By Alex Zeltcer, Co-Founder & CEO of nSure.ai Anti-money laundering (AML) measures, such as Know Your Customer (KYC), that crypto operators are also required to follow have been a boon for fraudsters who know where the loopholes are in this legislation. The fact is, however, that over 75% of...

Kim Kardashian has been charged by the Securities and Exchange Commission for promoting a crypto asset security issued and sold by EthereumMax on social media without reporting the compensation she received for the promotion. Kardashian agreed to settle the case by paying $1.26 million in fines,...