U.S. Senators are calling on Silvergate Capital Corp to provide answers and explanations over the allegations of misuse of customer funds by cryptocurrency exchange FTX, highlighting a grave concern for consumer protection. Their demand has raised eyebrows across the financial industry with many questioning why Silvergate, which prides itself on providing secure banking services, failed…
In a landmark case that has sent shockwaves through the crypto community, South Korean authorities have arrested the CEO of one of the world’s largest cryptocurrency exchanges for alleged embezzlement. Kang Jong-hyun, CEO of Bithumb, was apprehended on Tuesday and faces charges relating to the purported misappropriation of millions of dollars and stock price manipulation…
Crypto-asset security is an ever-present concern, and its fragility has been highlighted once again. BonqDao, a financial services provider, has been subject to a crippling cyberattack as its oracle was infiltrated by an insidious hacker. The exploit enabled the criminal to manipulate the price of AllianceBlock tokens, resulting in losses amounting to $120 million for…
The crypto market has seen its fair share of frauds and rug pulls, with the recent addition to this long list causing quite a stir, and heightened risks associated with the proliferation of crypto projects and ventures. Logan Paul and CryptoZoo have been slapped with a class-action lawsuit for alleged negligence. According to the legal…
Australia has recently unveiled a consultation paper on token mapping, further cementing its commitment to regulating the crypto space. This move is set to pave the way for revealing an official framework by 2023. which will outline laws and regulations regarding the usage of digital assets in the country. According to experienced professionals, this proactive…
BonqDAO’s catastrophic hack continues to wreak havoc, with PeckShield reporting that the attackers have begun their efforts to siphon off funds through Tornado Cash. This follows Foresight News’ revelation of $120. million-dollar loss due to BonqDao’s lackluster security protocols – which were ultimately responsible for this event. In an attempt to ensure that such nefarious…
Indian crypto tax policy became even more complicated just a week before the new tax laws are set to come into effect. A new parliamentary note answering queries about the new tax policies on virtual digital asset (VDA) suggest that traders can’t offset their losses from one digital asset against profit on another. As the…
Cryptocurrency exchange Gemini has received an electronic money license from the Central Bank of Ireland. It was the 18th organization to receive the license, and the first since October 2020. Gemini joined such license holders as Coinbase, Stripe, Square and Meta. The e-money license, for which Gemini applied in early 2020 and received oMarch 14,…
From Dubai to Kuala Lumpur, looking for a new beginning for an international fugitive to be able to start his conspiracy for scamming people into one of the biggest scams happening world wide. And now living in a mansion in the heart of California aiming to cover up for the fraud and legitimise his face…
NexTech Week Tokyo, one of the largest blockchain summits in Japan, will be held at Tokyo International Exhibition Center from May 11th to May 13th, 2022. NexTech Week Tokyo is a comprehensive summit that brings together professionals and renowned experts from all walks of life to share and showcase advanced world-changing technologies, attracting wide media…
