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Crypto Leaders Behind Bars: Celebrating the New Year in Prison—Number 2 Will Leave You Speechless!
As the world welcomes a new year, some notable figures from the crypto space are ringing in 2025 from behind bars. These individuals, once hailed for their roles in the digital currency revolution, now serve as cautionary tales of greed and mismanagement. Here’s a closer look at five high-profile names currently serving time.
1. Sam Bankman-Fried (SBF): The Fall of FTX’s Visionary
Sam Bankman-Fried, the former CEO of FTX, was once celebrated as a prodigy in the crypto industry. However, his meteoric rise came crashing down with charges of fraud, conspiracy, and money laundering. Convicted in one of the largest crypto scandals to date, SBF is now serving a 25-year sentence at the Metropolitan Detention Center in Brooklyn.
2. Caroline Ellison: From CEO to Inmate
Caroline Ellison, the ex-CEO of Alameda Research and former partner of Bankman-Fried, played a central role in the FTX debacle. Sentenced to two years in prison for fraud, Ellison’s involvement in mismanaging billions of dollars is a stark reminder of the risks of unchecked power. She is currently held at the Federal Correctional Institution in Danbury, Connecticut.
3. Ryan Salame: FTX’s Other Half Faces Justice
Ryan Salame, the former co-CEO of FTX Digital Markets, faced similar charges of fraud connected to FTX’s collapse. He was handed a seven-and-a-half-year prison term for his role in the scandal and is currently incarcerated at the Federal Correctional Institution in Cumberland.
4. Alexey Pertsev: Tornado Cash Co-Founder in Turbulence
Alexey Pertsev, a co-creator of Tornado Cash, was convicted of money laundering tied to the platform's use in illicit transactions. While he is serving a five-year sentence, Pertsev continues to appeal his conviction, fighting for a reduced sentence and a chance to restore his reputation.
5. David Carmona: The Mastermind Behind IcomTech’s Ponzi Scheme
David Carmona, the founder of the fraudulent crypto scheme IcomTech, deceived countless investors with promises of guaranteed returns. His scheme collapsed, leaving victims in financial ruin. Carmona is now serving a 10-year sentence at the Federal Correctional Institution in Ashland, Kentucky.
Conclusion
The stories of these individuals highlight the darker side of the crypto revolution, where ambition and innovation can quickly turn into deception and crime. Their downfall serves as a sobering lesson for investors and entrepreneurs alike: ethics and transparency are essential in building a sustainable future for blockchain and cryptocurrency.
#CryptoCrimes #FTXScanda #BlockchainLessons #TornadoCash #IcomTech
1. Sam Bankman-Fried (SBF): The Fall of FTX’s Visionary
Sam Bankman-Fried, the former CEO of FTX, was once celebrated as a prodigy in the crypto industry. However, his meteoric rise came crashing down with charges of fraud, conspiracy, and money laundering. Convicted in one of the largest crypto scandals to date, SBF is now serving a 25-year sentence at the Metropolitan Detention Center in Brooklyn.
2. Caroline Ellison: From CEO to Inmate
Caroline Ellison, the ex-CEO of Alameda Research and former partner of Bankman-Fried, played a central role in the FTX debacle. Sentenced to two years in prison for fraud, Ellison’s involvement in mismanaging billions of dollars is a stark reminder of the risks of unchecked power. She is currently held at the Federal Correctional Institution in Danbury, Connecticut.
3. Ryan Salame: FTX’s Other Half Faces Justice
Ryan Salame, the former co-CEO of FTX Digital Markets, faced similar charges of fraud connected to FTX’s collapse. He was handed a seven-and-a-half-year prison term for his role in the scandal and is currently incarcerated at the Federal Correctional Institution in Cumberland.
4. Alexey Pertsev: Tornado Cash Co-Founder in Turbulence
Alexey Pertsev, a co-creator of Tornado Cash, was convicted of money laundering tied to the platform's use in illicit transactions. While he is serving a five-year sentence, Pertsev continues to appeal his conviction, fighting for a reduced sentence and a chance to restore his reputation.
5. David Carmona: The Mastermind Behind IcomTech’s Ponzi Scheme
David Carmona, the founder of the fraudulent crypto scheme IcomTech, deceived countless investors with promises of guaranteed returns. His scheme collapsed, leaving victims in financial ruin. Carmona is now serving a 10-year sentence at the Federal Correctional Institution in Ashland, Kentucky.
Conclusion
The stories of these individuals highlight the darker side of the crypto revolution, where ambition and innovation can quickly turn into deception and crime. Their downfall serves as a sobering lesson for investors and entrepreneurs alike: ethics and transparency are essential in building a sustainable future for blockchain and cryptocurrency.
#CryptoCrimes #FTXScanda #BlockchainLessons #TornadoCash #IcomTech
🚨 30-Year Prison Sentence For Crypto Mixer Founder
Roman Sterlingov, the mastermind behind the cryptocurrency mixer Bitcoin Fog, is fighting back against a hefty 30-year prison sentence after being found guilty on multiple money laundering charges.
Disputed Conviction and Sentence:
Sterlingov was convicted in March on charges that included money laundering, conspiracy, and running an unlicensed money transmitting business. Prosecutors allege he operated Bitcoin Fog from 2011 to 2021, helping to launder around $400 million in Bitcoin tied to illegal activities like drug trafficking and identity theft.
However, Sterlingov’s defense disputes the extent of his involvement, arguing that he wasn’t responsible for Bitcoin Fog's operations despite being linked to it. They also pointed out that key evidence—such as server logs, private keys, and ledgers—was never presented in court.
A Call for Fairness:
Sterlingov’s legal team argues that the proposed 20 to 30-year sentence is unjustified, especially when compared to similar cases that resulted in lighter penalties. They emphasize that the sentence should reflect his actual role, which they suggest was more about aiding and abetting rather than direct operation.
Judge Randolph Moss initially planned to sentence Sterlingov on August 21 but has decided to first consider the government’s forfeiture order, which includes 1,354 BTC still sitting untouched in a Bitcoin Fog wallet since 2012 and a possible $395 million judgment.
What do you think about this sentencing?
Drop your comment below!
#bitcoin #tornadocash #scam #cryptoscam #hacking
$BTC
Roman Sterlingov, the mastermind behind the cryptocurrency mixer Bitcoin Fog, is fighting back against a hefty 30-year prison sentence after being found guilty on multiple money laundering charges.
Disputed Conviction and Sentence:
Sterlingov was convicted in March on charges that included money laundering, conspiracy, and running an unlicensed money transmitting business. Prosecutors allege he operated Bitcoin Fog from 2011 to 2021, helping to launder around $400 million in Bitcoin tied to illegal activities like drug trafficking and identity theft.
However, Sterlingov’s defense disputes the extent of his involvement, arguing that he wasn’t responsible for Bitcoin Fog's operations despite being linked to it. They also pointed out that key evidence—such as server logs, private keys, and ledgers—was never presented in court.
A Call for Fairness:
Sterlingov’s legal team argues that the proposed 20 to 30-year sentence is unjustified, especially when compared to similar cases that resulted in lighter penalties. They emphasize that the sentence should reflect his actual role, which they suggest was more about aiding and abetting rather than direct operation.
Judge Randolph Moss initially planned to sentence Sterlingov on August 21 but has decided to first consider the government’s forfeiture order, which includes 1,354 BTC still sitting untouched in a Bitcoin Fog wallet since 2012 and a possible $395 million judgment.
What do you think about this sentencing?
Drop your comment below!
#bitcoin #tornadocash #scam #cryptoscam #hacking
$BTC
Morning News Update #Web3
🪙 Vitalik Buterin donates 50 $ETH to Defend Roman Storm’s legal fund via Juice Box, supporting the Tornado Cash developer’s defense.
📊 Crypto VC funding hit $13.6B in 2024, accounting for 4.9% of total $279B investments, with projections reaching $18B in 2025 due to lower interest rates and clearer regulations.
💵 Solana stablecoins grew by $1B in December, bringing TVL to $5B, driven by $USDC at $4B and $USDT at $1B.
📈 Dollar rose 8% in 2024, marking its best year since 2015, driven by strong US economic performance and Trump’s tax and tariff policies.
⛏ Bitcoin miners earned $1.41B in December, the highest since April, with $1.37B from block rewards and $38.9M from fees.
#TornadoCash #Solana #Stablecoins
🪙 Vitalik Buterin donates 50 $ETH to Defend Roman Storm’s legal fund via Juice Box, supporting the Tornado Cash developer’s defense.
📊 Crypto VC funding hit $13.6B in 2024, accounting for 4.9% of total $279B investments, with projections reaching $18B in 2025 due to lower interest rates and clearer regulations.
💵 Solana stablecoins grew by $1B in December, bringing TVL to $5B, driven by $USDC at $4B and $USDT at $1B.
📈 Dollar rose 8% in 2024, marking its best year since 2015, driven by strong US economic performance and Trump’s tax and tariff policies.
⛏ Bitcoin miners earned $1.41B in December, the highest since April, with $1.37B from block rewards and $38.9M from fees.
#TornadoCash #Solana #Stablecoins
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Shocking! Hackers launder money through Tornado Cash, what happens to DEXX victims?
This shocking news to the Web3 world has undoubtedly cast a shadow over the entire industry: hackers used Tornado Cash to mix stolen funds, almost declaring their determination not to return them. This not only leaves victims facing unrecoverable losses but also rings alarm bells for the security and regulation of the industry. Today, let's discuss the motivations and far-reaching impacts behind this incident.
For AI analysis news updates, please visit: mlion.ai
First, let's take a look at the main players. DEXX, a decentralized trading platform primarily based on MEME coins, recently suffered a hacker attack, resulting in losses of up to 21 million USD. One of the hacker's tools was Tornado Cash, a cryptocurrency mixer that can obscure the flow of funds. Although its original intention is to protect privacy, it has been controversial since 2022 due to allegations of assisting North Korean hackers in money laundering.
For AI analysis news updates, please visit: mlion.ai
First, let's take a look at the main players. DEXX, a decentralized trading platform primarily based on MEME coins, recently suffered a hacker attack, resulting in losses of up to 21 million USD. One of the hacker's tools was Tornado Cash, a cryptocurrency mixer that can obscure the flow of funds. Although its original intention is to protect privacy, it has been controversial since 2022 due to allegations of assisting North Korean hackers in money laundering.
See original
Code Behind Bars.
Ah, Tornado Cash — that terrible enemy that made US authorities throw all their efforts into protecting humanity... from computer code. Not from fraudsters, not from hackers, but specifically from a soulless string of characters that, unfortunately for bureaucrats, cannot be interrogated, arrested, or sentenced to life imprisonment.
Binance’s High-Risk Altcoin List
CryptosHeadlines.com - The Leading Crypto Research Network:
Binance will introduce the Seed Tag and Monitoring Tag on July 26, designed specifically for high volatility and high-risk tokens.
Binance, the world’s largest cryptocurrency exchange, made new announcements, stating the launch of the Seed Tag and Monitoring Tag on July 26. These tags are designed for high volatility and high-risk tokens.
Binance announced that the Seed Tag will replace the Innovation Zone, introduced based on user feedback.
These specially designed tags are intended for high volatility and high-risk tokens, and users will need to pass an exam to trade tokens with these tags.
Binance has announced the launch of Seed and Tracking Tags on 26/07/2023, in response to community feedback about the difficulty of distinguishing tokens in the Innovation Zone and Main Trading Zone.
To access tokens marked with these tags, users must pass exams and accept the terms every 90 days on Binance Spot and/or Binance Margin platforms.
The tests aim to ensure users understand the risks associated with trading tokens labeled with Seed and Tracking Tags.
Binance will regularly review tagged tokens and update tags based on the latest findings.
A risk warning banner will be displayed for all tokens with Seed and Tracking Labels. The Seed Label will replace the Innovation Zone and apply to existing and future listings of innovative projects with potentially higher volatility and risk.
Binance will apply the Tracking Tag to numbered tokens, along with coining tags like Acropolis (AKRO), Ark (ARK), Cream Finance (CREAM), FTX Token (FTT), Tornado Cash (TORN), and Multichain (MULTI). These tokens are known for their notably higher volatility and risks compared to other listed altcoins.
Binance’s new sticker app aims to offer users greater transparency and information about the risks linked to cryptocurrency investments. Additionally, Binance revealed its plan to list the first digital USD, First Digital USD (FDUSD), today.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#ftt #multichain #tornadocash #ark
Binance will introduce the Seed Tag and Monitoring Tag on July 26, designed specifically for high volatility and high-risk tokens.
Binance, the world’s largest cryptocurrency exchange, made new announcements, stating the launch of the Seed Tag and Monitoring Tag on July 26. These tags are designed for high volatility and high-risk tokens.
Binance announced that the Seed Tag will replace the Innovation Zone, introduced based on user feedback.
These specially designed tags are intended for high volatility and high-risk tokens, and users will need to pass an exam to trade tokens with these tags.
Binance has announced the launch of Seed and Tracking Tags on 26/07/2023, in response to community feedback about the difficulty of distinguishing tokens in the Innovation Zone and Main Trading Zone.
To access tokens marked with these tags, users must pass exams and accept the terms every 90 days on Binance Spot and/or Binance Margin platforms.
The tests aim to ensure users understand the risks associated with trading tokens labeled with Seed and Tracking Tags.
Binance will regularly review tagged tokens and update tags based on the latest findings.
A risk warning banner will be displayed for all tokens with Seed and Tracking Labels. The Seed Label will replace the Innovation Zone and apply to existing and future listings of innovative projects with potentially higher volatility and risk.
Binance will apply the Tracking Tag to numbered tokens, along with coining tags like Acropolis (AKRO), Ark (ARK), Cream Finance (CREAM), FTX Token (FTT), Tornado Cash (TORN), and Multichain (MULTI). These tokens are known for their notably higher volatility and risks compared to other listed altcoins.
Binance’s new sticker app aims to offer users greater transparency and information about the risks linked to cryptocurrency investments. Additionally, Binance revealed its plan to list the first digital USD, First Digital USD (FDUSD), today.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#ftt #multichain #tornadocash #ark