David Smillie, founder of the now-defunct #Canadian crypto exchange ezBtc, is facing allegations of embezzling CAD 13 million (USD 9.5 million) from his users, reportedly using the funds for gambling.
A review by the #British Columbia Securities Commission (BCSC) found that Smillie siphoned approximately 935 Bitcoins and 159 Ethers from the platform between 2016 and 2019.
The stolen funds were channeled through his accounts to online gambling sites, leaving many customers unable to retrieve their investments.
EzBtc, which ceased operations in 2019 and was dissolved in 2022, had promised to safeguard assets in cold storage. However, Smillie’s actions led to significant losses for users.
The BCSC plans to impose penalties by September 24, which could include fines or market bans.
In a broader context, cryptocurrency use in Canada remains low, with only 3% of Canadians engaging in crypto transactions.
The majority still prefer traditional payment methods or e-transfers, reflecting a cautious approach towards digital currencies

#BinanceLaunchpoolTON #CryptoMarketMoves #MarketDownturn

LONDON, Aug 13 - #British authorities have now arrested more than 1,000 people following days of rioting involving violence, arson and looting as well as racist attacks targeting Muslims and migrants, a national policing body said on Tuesday.
The riots, which followed the killings of three young girls in the northern English town of Southport, began after the July 29 attack was wrongly blamed on an Islamist migrant based on online misinformation.
Violence broke out in cities across England and also in Northern Ireland, but there have been fewer instances of unrest since last week after efforts to identify those involved were ramped up.
Many have been swiftly jailed, with some receiving long sentences
The National Police Chiefs' Council said in its latest update that 1,024 had been arrested and 575 charged across the UK.
Those arrested include a 69-year-old accused of vandalism in Liverpool and a 11-year-old boy in Belfast.
A 13-year-old girl pleaded guilty to violent disorder at Basingstoke Magistrates' Court, prosecutors said, having been seen on July 31 punching and kicking the entrance to a hotel for asylum seekers.
"This alarming incident will have caused genuine fear amongst people who were being targeted by these thugs – and it is particularly distressing to learn that such a young girl participated in this violent disorder," prosecutor Thomas Power said.

#CryptoMarketMoves #MarketDownturn #BinanceLaunchpoolTON #BlackRockETHOptions