Terraform Labs founder Do Kwon arrested in Montenegro
FinBold » Financial Crime News
by Ana Nicenko
2d ago
After the prolonged manhunt for Do Kwon, who was reportedly hiding in Serbia, the police in the neighboring country of Montenegro have arrested the co-founder and former CEO of the disgraced company Terraform Labs, according to the Montenegrin Minister of Interior. As it happens, “the Montenegrin police has apprehended an individual believed to be one of the most-wanted fugitives, a South Korean national Do Kwon, the co-founder and CEO of Terraform Labs based in Singapore,” the Montenegrin Minister of Interior Filip Adzic said on his Twitter profile on March 23. According to Adzic: “The forme ..read more
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​​Decentralized IDO platform Poolz takes swift action to strengthen security following exploit
FinBold » Financial Crime News
by Jordan Major
1w ago
Initial DEX Offering (IDO) platform Poolz has made public the steps it has taken to lessen the impact of a recent security breach that occurred on its platform after prompt action taken by its team limited the extent of the damage and avoided the spread of contagion. Notably, a hacker was successful on March 15 in compromising the token contract used in the POOLZ vesting system for $390,000 as tokens intended for public buyers were stolen and put up for sale.  In the Face of Adversity, the Poolz team promptly reacted, and within two hours, the token was removed from circulation and could ..read more
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Death of BitConnect promoter’s wife sparks mysterious theories
FinBold » Financial Crime News
by Ana Nicenko
2M ago
After the wife of John Bigatton, a well-known Australian promoter of the now-defunct BitConnect Coin (BCC) project and an alleged Ponzi scheme, reportedly died by suicide, multiple theories have arisen as to whether this was necessarily true because her body was never found. Indeed, the current theories floating among the family, as well as BitConnect victims, suggest that Madeline Bigatton, who vanished off the cliffs of Australia, could’ve been murdered by her husband or even that the couple might’ve faked Madeline’s death, according to a CoinDesk podcast ‘Crypto Crooks‘ streamed on January ..read more
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Just in: Squid Game crypto token scammer tracked down
FinBold » Financial Crime News
by Ana Nicenko
2M ago
A little over one year after countless cryptocurrency investors fell victim to the crypto scam that used the name of the popular Netflix (NASDAQ: NFLX) show to trick people into investing in SQUID token, a cryptocurrency that, in fact, had no connection to the show.  Interestingly, a journalist’s investigation has delivered new evidence as to the whereabouts of the scam’s originators. As it happens, the debut of the famous Korean Netflix show Squid Game in 2021 proved a perfect opportunity for scammers to create an efficient cryptocurrency scam that has cost its victims an aggregated $16 ..read more
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Mike Novogratz warns against ‘seeing black swans everywhere’ following FTX crash
FinBold » Financial Crime News
by Ana Nicenko
2M ago
With the cryptocurrency industry still feeling the consequences of the collapse of FTX, once one of the largest crypto trading platforms in the world, the CEO of crypto investment firm Galaxy Digital, Mike Novogratz, has warned about the dangers of seeing criminals everywhere in the sector. Indeed, Novogratz believes that one crypto platform’s collapse doesn’t mean that the entire sector is filled with ‘black swans’ and criminals, as he told CNBC’s Squawk Box host Joe Kernen in an interview published on December 15. Specifically, he commented on the recent sell-off, stating that Bitcoin (BTC ..read more
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Caution: Kevin O’Leary’s Twitter gets hacked, starts promoting crypto giveaways
Financial crime news | Read now on Finbold.com - Finance in Bold
by Jordan Major
2M ago
It seems that the Twitter account of Kevin O’Leary, the star of the television program “Shark Tank,” has been hacked by scammers who are pushing a giveaway of both Bitcoin (BTC) and Ethereum (ETH). Indeed, on December 29, the account pinned a tweet about a supposed giveaway and instructed followers to “click on the picture to join the event.” In a succession of tweets, the TV personality’s followers started to get suspicious due to the volume of tweets and the syntax used. “My accounts was not hacked! Last night I said on TV that I was going to do a giveaway. Enjoy.”  Another tweet stat ..read more
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BNB records a sharp drop after alleged Binance prosecution plan by U.S. authorities
FinBold » Financial Crime News
by Paul L.
2M ago
The value of BNB has recorded sharp losses after it emerged that United States authorities have plans to charge the token’s parent company and crypto exchange Binance over alleged financial crimes.  In particular, by press time, BNB, the fourth largest cryptocurrency by market capitalization, was trading at $276, recording losses of about 4% in the last 24 hours. As per Finbold data, BNB has extended its losses in the last seven days, recording a slump of about 5% on the weekly chart. BNB seven-day price chart. Source: Finbold Although BNB has been weighed down by the general crypto marke ..read more
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Netflix to release gripping financial thriller about Bernie Madoff on January 4 (trailer)
FinBold » Financial Crime News
by Ana Nicenko
2M ago
One year and eight months after the death of Bernie Madoff, an American fraudster and Wall Street financier who was the mastermind behind the largest Ponzi scheme in history, streaming platform Netflix (NASDAQ: NFLX) turned his infamous endeavor into a four-part financial thriller. Set to premiere on January 4, 2023, “Madoff: The Monster of Wall Street” follows the rise and fall of the multibillion-dollar schemer who managed to run his ploy undetected, likely for decades, defrauding thousands of investors of close to $65 billion and working with some of the world’s most dangerous people. Accor ..read more
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U.S. DOJ seizes a record $3.36 billion worth of Bitcoin linked to the dark web
FinBold » Financial Crime News
by Paul L.
2M ago
The United States Department of Justice (DOJ) has announced the seizure of a record $3.36 billion worth of Bitcoin (BTC) connected to the Silk Road dark web fraud.  The seizure involving 50,676 saw the accused, James Zhong, plead guilty to unlawfully obtaining the cryptocurrency, the DOJ said in a press statement on November 7.  Zhong, accused of stealing bitcoin from the Silk Road marketplace, is said to have deployed sophisticated measures to hide the proceeds.  “This seizure was then the largest cryptocurrency seizure in the history of the U.S. Department of Justice and toda ..read more
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FTX’s Sam Bankman-Fried arrest update; What you need to know
FinBold » Financial Crime News
by Ana Nicenko
2M ago
The details of the indictment that has been brought against Sam Bankman-Fried have been made public after the news of his arrest sent shockwaves through the cryptocurrency industry. Bankman-Fried is the founder and former CEO of the cryptocurrency trading platform FTX, which has since gone bankrupt. Specifically, the United States Securities and Exchange Commission (SEC) is demanding a jury trial of Sam Bankman-Fried (a.k.a. SBF), who the regulator is accusing of defrauding FTX investors, according to the indictment filed on December 13. Details of the indictment The indictment alleges that, s ..read more
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