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The Daily: Telegram CEO arrest tied to cybercrime, Abra settles charges with the SEC, stablecoin market cap reaches all-time high and more

Telegram CEO’s arrest tied to cybercrime investigation of unauthorized ‘cryptology’ services, say French authorities Abra settles SEC charges of unregistered sale of crypto asset securities in Abra Earn Stablecoin market cap hits new all-time high, beating early 2022 record The following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 26/08/2024 - 21:25 PM

China extradites $14 billion crypto pyramid scheme mastermind from Thailand

Zhang, linked to a $14 billion crypto pyramid scheme, was extradited from Thailand, marking a significant event under the China-Thailand extradition treaty implemented since 1999.

theblock.co • 23/08/2024 - 08:22 AM

Former congressional candidate with FTX ties Michelle Bond charged with unlawful campaign contributions

Damian Williams, the United States Attorney for the Southern District of New York, announced the unsealing of Bond’s indictment following back and forth between Bond’s partner and former FTX executive Ryan Salame and prosecutors on whether she should be investigated. Bond ran unsuccessfully for a U.S. House seat in 2022 in New York’s 1st district as a Republican. Soon after, prosecutors said Bond’s romantic partner, who was a “high-level executive at a Bahamas-based subsidiary of a now-defunct cryptocurrency exchange,” organized a “sham consulting agreement,” between Bond and the exchange.

theblock.co • 22/08/2024 - 18:04 PM

China heightens AML rulebook, making it easier to probe crypto-linked money laundering

China's legal authorities now classify virtual asset transactions as a means of money laundering, aiming to strengthen investigations while clarifying that cryptocurrency trading alone is not a crime.

theblock.co • 21/08/2024 - 09:49 AM

CRIME

Crypto whale loses $55 million in Dai stablecoin to phishing attack

A crypto whale lost $55.4 million in Dai stablecoin due to a phishing attack exploiting a vulnerability in their Maker vault and DSProxy.

theblock.co • 21/08/2024 - 08:44 AM

Former SEC crypto enforcement chief David Hirsh leaves for private practice

David Hirsh, former SEC crypto lead, joins McGuireWoods to enhance their securities enforcement and regulatory counseling amid increasing scrutiny of the cryptocurrency industry.

theblock.co • 19/08/2024 - 14:30 PM

CRIME

Australia’s ASIC shuts down over 600 crypto scam websites in year-long crackdown

Australia's financial regulator has dismantled 615 cryptocurrency scams in a year, highlighting ongoing issues with fraud leading to $1.3 billion in losses.

theblock.co • 19/08/2024 - 07:38 AM

Illicit crypto activity on-chain down nearly 20% since January: Chainalysis

Illicit cryptocurrency activity is declining, while legitimate service inflows peak. However, stolen funds and ransomware are rising, with North Korean cybercriminals using off-chain methods.

theblock.co • 16/08/2024 - 13:16 PM

CRIME

Nearly $600 million in seized Silk Road bitcoin sent to Coinbase wallet: Arkham

10,000 bitcoin worth nearly $600M transferred to Coinbase Prime; linked to U.S. DOJ's $2B seizure from Silk Road. Previous transfers also noted.

theblock.co • 14/08/2024 - 16:57 PM

CRIME

SEC charges NovaTech with operating a pyramid scheme that raised $650 million in crypto

Cynthia and Eddy Petion “lured investors” by saying that NovaTech would invest their money in crypto and foreign exchange markets, when instead NovaTech used most of those investor funds to pay existing investors, the SEC said. New York Attorney General Letitia James previously sued the Petions, among others, for defrauding thousands of investors in June.

theblock.co • 12/08/2024 - 17:14 PM

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