Fraud and false statements
Crypto mixing service Tornado Cash blacklisted by Treasury Department for alleged use in laundering
The U.S. Department of Treasury on Monday sanctioned the popular cryptocurrency mixer Tornado Cash, banning Americans from using a service that the government said, “launders the proceeds of cybercrimes.” “Despite public assurances otherwise, Tornado Cash has repeatedly failed to impose effective controls designed to stop it from laundering funds for malicious cyber actors on a […]
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It has been a miserable month for crypto — and it’s only the third day of August
It has been a rough month for the crypto sector, and it’s only the third day of August. From cross-chain bridge hacks draining hundreds of millions of dollars in customer funds to the Securities and Exchange Commission coming after crypto ponzi schemes, this corner of the market can’t catch a break. The developments add to […]
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Man accused of duping Secret Service by posing as Homeland Security agent pleads guilty
One of two men accused of impersonating federal law enforcement officials in a scheme that duped Secret Service agents and others pleaded guilty Monday to multiple charges in Washington, D.C. Arian Taherzadeh’s plea came nearly four months after his arrest with a second man, Haider Ali, exposed allegations that they compromised Secret Service agents with […]
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SEC charges 11 people in alleged $300 million crypto Ponzi scheme
A flag outside the U.S. Securities and Exchange Commission headquarters in Washington, D.C., U.S., on Wednesday, Feb. 23, 2022. Al Drago | Bloomberg | Getty Images On Monday, the Securities and Exchange Commission said it charged 11 people for their roles in creating and promoting an allegedly fraudulent crypto pyramid and Ponzi scheme that raised […]
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Former Obama White House aide Seth Andrew sentenced to year in prison for charter school theft scheme
Seth Andrew Wikimedia Commons Former Obama White House education advisor Seth Andrew was sentenced Thursday to a year-and-one-day in federal prison for a scheme to steal $218,000 from a New York charter school network he founded. Andrew, 43, also was fined $5,000 at his sentencing in U.S. District Court in Manhattan. He was arrested in […]
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SEC charges former GOP Rep. Stephen Buyer with insider trading
(File 1988) House Judiciary Committee member Rep. Stephen Buyer (R/IN) carries his research materials away at the conclusion of the impeachment proceedings December 12. Reuters WASHINGTON — Former Indiana Republican Rep. Stephen Buyer has been charged with insider trading, the Securities and Exchange Commission announced Monday. Buyer, who left Congress in 2011, is accused of […]
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Coinbase blasts SEC over insider trading case, says none of the tokens it lists are securities
Coinbase signage in New York’s Times Square during the company’s initial public offering on the Nasdaq on April 14, 2021. Robert Nickelsberg | Getty Images Coinbase pushed back on claims from the Securities and Exchange Commission that it offers unregistered securities, following fraud charges against a former employee of the company. An ex-Coinbase product manager […]
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Former Coinbase manager and two others charged in crypto insider trading scheme
The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. Shannon Stapleton | Reuters Three people have been charged in the first-ever crypto insider trading tipping scheme, according to the U.S. Attorney’s Office for the […]
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FBI says fake crypto apps defrauded investors of more than $42 million
Bankruptcy filings from Celsius and Voyager have raised questions about what happens to investors’ crypto when a platform fails. Rafael Henrique | Sopa Images | Lightrocket | Getty Images The FBI recently issued a warning to consumers about fraudulent crypto applications that have scammed 244 victims out of about $42.7 million since October 2021. “The […]
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Feds say 2 NY residents used Trump fundraiser, photo in $27M investment scam
Scott Olson | Getty Images Two New York residents were arrested Monday on a federal criminal complaint with a nearly decade-long $27 million investment fraud scheme that leveraged their attendance at a 2017 fundraiser with then-President Donald Trump. Prosecutors said that the two defendants, Sherry Xue Li and Lianbo Wang, lured victims into investing in […]
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