CryptoFraud

Федеральне бюро тюрем США (BOP) оновило прогнозовану дату звільнення Сема Бэнкмана-Фрида, засновника криптобіржі FTX, який відбуває 25-річний термін за шахрайство на $11 млрд. Згідно з даними BOP від 26 травня 2025 року, Бэнкман-Фрид може вийти на свободу 14 грудня 2044 року — на чотири роки раніше, ніж передбачалося. Це стало можливим завдяки системі скорочення терміну за хорошу поведінку: федеральні ув’язнені можуть отримувати до 54 днів скорочення щороку. Також час зменшується за участь у освітніх і реабілітаційних програмах.
Бэнкман-Фрид, якого засудили у 2024 році, наразі перебуває у в’язниці FCI Terminal Island у Каліфорнії, куди його перевели після складних умов у Брукліні та короткого перебування у Вікторвіллі, відомому своєю жорстокістю. Умови у Terminal Island вважаються більш комфортними, що може сприяти його участі в програмах для скорочення терміну.
Крім того, ходять чутки про можливе помилування від Дональда Трампа, хоча підтримки криптоспільноти Бэнкман-Фрид не має. Його дії, зокрема несанкціоноване інтерв’ю з Такером Карлсоном у березні 2025 року, викликали суперечки та навіть тимчасове одиночне ув’язнення. Чи зможе він скористатися шансом на дострокове звільнення, залежить від його поведінки та рішень BOP.
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#SambankmanFried #FTX #FederalBureauOfPrisons #CryptoFraud #EarlyRelease #TrumpPardon #BlockchainNews
$BTC
#CryptoRegulation #USPrisonSystem

Investor Alert: The same scam, with a new name. Don’t be the next victim.
Introduction
In a market that thrives on innovation, some bad actors are thriving on deception. MMMC (Make Me Millioner Coin) is the latest token launched by the same team behind previous failed projects: Unitimeta, Ubit, UVC, and UVCX — each one ending in an insider dump, liquidity drain, and investor losses.

MMMC is not an opportunity. It’s a well-disguised scam targeting unsuspecting investors with flashy marketing and false promises.

Why MMMC Is a Red Flag

⚠️ Recycled Scam Team
Led by “Brij” and the same insiders from UVCX — a project that wiped out over ₹4,000 crore in market cap.

🎭 Ponzi-Style Recruitment
Luxury cars, foreign trips, and cash rewards offered to those who recruit more investors — a clear pyramid model.

❌ No Real Product or Utility
No functioning platform, no ecosystem, no roadmap. Only hype and vague promises.

🔍 No Audit or Security Verification
No independent audit from reputable firms like CertiK or Hacken.

💰 Centralized Token Control
Over 60% of the total token supply is controlled by fewer than 10 wallets.

💥 Unrealistic Price Claims
Artificially inflated launch price with no credible market depth or demand.

How the Trap Works

1. 🚀 Launch with Hype
Paid influencers, fake endorsements, and misleading whitepapers.

2. 🧑‍💼 Insider Distribution
Majority of tokens allocated to the core team and promoters before public listing.

3. 🎯 Aggressive Recruiting
Pressure tactics urging investors to "act fast" and recruit others.

4. 📉 Sudden Sell-off
Price crashes as insiders dump tokens, draining liquidity and leaving retail investors trapped.

The Leader Trap: A Social Engineering Playbook

MMMC targets vulnerable communities using “leaders” — local influencers rewarded with:

🚗 Luxury vehicles

✈️ International trips

💸 Monthly bonuses

🧠 “Passive income” promises

These rewards are not funded by profits, but from new investor money — a classic Ponzi structure designed to collapse.

How MMMC Compares to Legitimate Projects

✅ Real Projects:

Listed on Binance, Coinbase, Kraken

Fully audited by CertiK, Hacken

Transparent teams with real backgrounds

Utility-backed tokenomics

Community-focused, long-term growth

❌ MMMC:

Not listed on any Tier-1 exchange

No audit, no accountability

Anonymous or recycled founders

Zero real-world use

Insider-owned token supply

Final Warning

MMMC is not a misunderstood startup — it’s a pre-planned scam dressed in Web3 clothing. This is the fifth version of the same scheme, targeting new investors with old lies.

If you're considering investing in MMMC, understand:
The end is already written. The only unknown is how many more will lose everything.

Protect Yourself & Others

🧠 DYOR (Do Your Own Research)

🔐 Check for audit & token distribution

⛔ Say no to Ponzi-style rewards

📣 Spread awareness in your community

⚖️ Report suspicious activity to authorities

#MMMCScam #CryptoFraud #MMMC #CryptoAwareness #BrijExposed

A U.S. federal court on Friday handed down a prison sentence to a Danvers resident found guilty of operating an unlicensed Bitcoin exchange. Authorities say the platform, which operated without regulatory oversight, laundered over $1 million—some of it linked to scammers and drug dealers.

💰 Bitcoin for Cash – No Oversight, No Rules
The accused, Trung Nguyen—known online as “DCS420”—ran a company called National Vending from 2017 to 2020. It offered customers the ability to exchange cash for Bitcoin, charging a fee—but without any official registration with FinCEN or compliance with federal anti-money laundering (AML) laws.
Instead of transparency, Nguyen concealed the true nature of his operation by presenting it as a vending machine business and using encrypted messaging to communicate with clients. According to the U.S. Department of Justice, he deliberately made financial tracking difficult and broke large cash deposits into smaller chunks under the $10,000 reporting threshold.
🔍 “He used encrypted messaging apps, leveraged technologies that obscured Bitcoin transactions, and spread cash deposits over consecutive days or across branches to avoid detection,” federal prosecutors stated.

🧾 Ties to Fraud and Drug Trade
Investigators revealed Nguyen received hundreds of thousands of dollars from clients—including a meth dealer and victims of romance scams. While his platform functioned like a crypto exchange, it operated in total regulatory darkness—making it a convenient tool for criminal actors.
Nguyen was sentenced to six years in federal prison, followed by three years of supervised release. He was also ordered to forfeit over $1.5 million deemed proceeds from illegal activity.

⚠️ Crypto Industry Faces Heightened Scrutiny
This isn’t an isolated case. U.S. authorities continue to crack down on illicit practices within the crypto sector. Earlier in May, Celsius Network founder Alex Mashinsky was sentenced to 12 years for defrauding users of billions of dollars in one of crypto’s most infamous collapses.
Mashinsky was convicted of deceiving investors and embezzling over $48 million. Thousands of people lost their life savings. The Nguyen case serves as a clear reminder that, despite the decentralized promise of crypto, U.S. law enforcement is watching—and acting.

#CryptoCrime , #MoneyLaundering , #CryptoNewss , #Regulation , #CryptoFraud

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

U.S. authorities have cracked down on Jeremy Jordan-Jones, the founder of Amalgam Capital Ventures, accusing him of orchestrating a major crypto investment scam. According to the indictment, he misled investors and raised $1 million, only to spend the funds on a lavish personal lifestyle.
🕵️‍♂️ The FBI, SEC, and the Department of Justice have all taken action. Jones now faces charges including wire fraud, securities fraud, false statements to a bank, and aggravated identity theft. If convicted, he could face up to 72 years in prison.

A Startup Built on Lies
Jordan-Jones pitched his company as a revolutionary blockchain firm, supposedly developing high-end payment and cashier systems. He boasted about major partnerships and even showcased fake product demos, claiming the company was preparing to launch a native token on global exchanges. But according to the DOJ, none of it was real—there were no clients, no real partnerships, and no operational technology.
📉 While investors were left empty-handed, Jones was allegedly forging bank records to secure loans and investments he then used for personal gain.

A Landmark Case Against Crypto Fraud
Prosecutors called the case a textbook example of tech-driven deception. “Fraudsters often hide behind the promise of innovation,” said former SEC Chair Jay Clayton.
Meanwhile, the SEC has filed a parallel civil lawsuit, and the FBI has emphasized that Jones is far from an isolated case. Crypto-related scams are escalating rapidly—in 2024 alone, the FBI received over 140,000 crypto fraud complaints, amounting to $9.3 billion in reported losses.

Crypto Booms While Scams Multiply
Despite ongoing fraud cases, the digital asset market is soaring. Bitcoin recently hit a new all-time high of $111,800, while total crypto market capitalization surpassed $3.5 trillion.

#CryptoFraud , #SEC , #FBI , #CryptoNewss , #Regulation

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Big promises, bigger deception. Braden Karony, former CEO of the once-hyped crypto project SafeMoon, has been found guilty by a U.S. federal jury of running a fraudulent scheme that misled investors and diverted millions of dollars for personal gain.

⚖️ Guilty on All Charges
After a 12-day trial, a federal court in New York found Karony guilty of conspiracy to commit securities fraud, wire fraud, and money laundering.
He now faces up to 45 years in prison, and has also been ordered to forfeit assets worth over $2 million, including luxury homes, vehicles, and cryptocurrency holdings.

💸 How the Scheme Worked
SafeMoon, launched in 2021 with a 10% transaction tax model, quickly rose to fame — boasting a market cap of over $8 billion at its peak. But behind the scenes, the truth was far from what was advertised.
🔹 Karony and his team claimed that half the fees would be locked in a liquidity pool and the other half redistributed to token holders.

🔹 In reality, they retained access to the liquidity funds, siphoned them off, and used them for personal luxury.

🔹 They also traded SafeMoon tokens privately, even during peak prices, despite publicly denying any such activity.

🏎️ Crypto-Funded Teslas and Mansions
According to court evidence, investor funds were used to purchase:
🔹 luxury cars like an Audi R8, a Tesla, and custom trucks

🔹 high-end properties

🔹 transfers routed through anonymous wallets and unhosted exchange accounts
Authorities estimate that Karony personally pocketed over $9 million in crypto assets. The case was investigated by the FBI, IRS, and other federal agencies.

⚠️ SafeMoon – From Skyrocketing Token to Cautionary Tale
What began as a promising crypto project became a textbook example of how fast hype can turn into legal fallout.
Federal prosecutors said the case deeply damaged public trust in digital assets and highlighted the urgent need for greater oversight in the crypto industry.
One co-defendant, Thomas Smith, has pleaded guilty and awaits sentencing. Another, Kyle Nagy, remains at large.

📌 The Takeaway
SafeMoon was marketed as a “safe journey to the moon” — but it ended in a brutal crash landing, complete with FBI raids, IRS investigations, and a federal conviction. The message to the crypto world is clear: transparency and accountability are not optional — they’re essential.

#Safemoon , #CryptoFraud , #CryptoNewss , #CryptoScamAlert , #CryptoCrime

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Федеральний суд присяжних США визнав Брейдена Джона Кароні, генерального директора проєкту SafeMoon, винним у шахрайстві, відмиванні грошей та змові. Максимальне покарання — до 45 років позбавлення волі.
Суть справи:
У 2021 році SafeMoon зібрав $8 млрд, обіцяючи «заблокований пул ліквідності».
Натомість Кароні вивів мільйони на власні рахунки через ланцюжок анонімних гаманців.
Особиста вигода: понад $9 млн.
Придбано: елітну нерухомість, Audi R8, Tesla.
Проєкт обвалився, а інвестори втратили кошти. Кароні звинувачують у навмисному обмані з метою особистого збагачення. Прокурор заявив: «SafeMoon став журавлем у небі — і пасткою для тисяч довірливих інвесторів». Справа підкреслює ризики інвестування в проєкти без належної перевірки та нагадує про необхідність прозорості в криптоіндустрії.
Що б ви купили за $9 млн? Діліться думками! Слідкуйте за новинами крипторинку! Підписуйтесь на #MiningUpdates , щоб бути в курсі.
#Safemoon #CryptoFraud #blockchain #CryptoNews #Investing #Cybercrime

Coinbase, the largest cryptocurrency exchange in the United States, has confirmed a major data breach from December 2024 that exposed sensitive personal information of 69,461 users. Hackers demanded a $20 million ransom to prevent the leaked data from being published on the dark web.
The scale of the attack was disclosed in a filing with the Maine Attorney General. Although Coinbase stated that less than 1% of its global user base was impacted, the breach has triggered multiple federal investigations and potential lawsuits regarding the company’s handling of the incident.

💼 Hackers Bribed Foreign Support Agents to Gain Access
According to Coinbase and sources familiar with the matter, the breach was made possible through social engineering, not through technical vulnerabilities. Attackers targeted customer support agents working overseas — specifically in India — and bribed them with cash in exchange for access to internal systems.
This gave hackers access to personal information, including names, addresses, dates of birth, nationalities, government-issued IDs, banking details, account balances, and KYC-related data. While passwords, private keys, and crypto funds were not compromised, cybersecurity experts warn that such information can still be used for identity theft, impersonation, and fraud.

🕵️‍♂️ Ransom Demands and Delayed Disclosure
Coinbase revealed it received an anonymous ransom email on May 11, several months after the breach took place on December 26. The attackers threatened to leak the stolen information online unless the company paid a $20 million ransom — a demand that Coinbase ultimately refused.
The company stated that it had already identified and dismissed the employees involved in the incident and is fully cooperating with U.S. authorities, including the Department of Justice, which has launched a criminal investigation.

📢 Public Backlash Over Coinbase’s Silence
The company’s delayed disclosure has sparked widespread criticism. Tech investor and TechCrunch founder Michael Arrington condemned Coinbase’s timing, arguing that real people could already be suffering consequences from the breach.
“This has likely already caused harm,” Arrington wrote on X. “The damage can’t just be measured in dollars — it’s measured in human suffering.”

He also criticized existing KYC (Know Your Customer) rules, claiming they provide a false sense of security while exposing users to unnecessary risk. Arrington called for stronger data protection laws and corporate accountability.
“Governments and corporations need to act. The cost of inaction is human suffering,” he added.

💸 Potential Losses Could Top $400 Million
Coinbase estimates the fallout from the breach could cost between $180 million and $400 million, including customer reimbursements, legal expenses, and increased security measures.
Mike Dudas, managing partner at Web3 venture firm 6MV, believes he may be among those affected. He called the breach “a staggering leak of personal data,” warning that the consequences may extend beyond identity theft and include intimidation or blackmail of high-profile figures in the crypto industry.

💬 As crypto companies scale globally, are they doing enough to protect sensitive user data from insider threats?

#CyberSecurity , #CryptoNewss , #Cryptoscam , #CryptoFraud , #coinbase

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

20 травня 2025 року Комісія з цінних паперів і бірж США (SEC) подала позов проти нью-йоркської компанії Unicoin та трьох її топ-менеджерів — генерального директора Алекса Конянихіна, члена правління Сільвіни Москіні та екс-головного інвестиційного директора Алекса Домінгеса. Їх звинувачують у введенні в оману понад 5000 інвесторів, що дозволило зібрати $110 млн. За даними SEC, Unicoin завищував продажі «прав сертифікатів» до $3 млрд, хоча реальна сума не перевищувала $110 млн, і помилково стверджував, що токени та сертифікати зареєстровані в SEC. Компанія також перебільшувала вартість активів, заявляючи про підтримку токенів нерухомістю та активами на мільярди доларів, хоча їхня реальна вартість була значно нижчою.
Unicoin використовував агресивну рекламу в аеропортах, таксі Нью-Йорка, на телебаченні та в соцмережах, позиціонуючи інвестиції як безпечні. Генеральний радник компанії Річард Девлін уже погодився на штраф у $37,500 без визнання провини. SEC вимагає заборонити керівникам обіймати посади в публічних компаніях і повернути незаконно отримані кошти. Розслідування триває.
#CryptoFraud #UNICoin #SEC #blockchain #CryptoNews
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London mein aik chhota sa layover Jacob Irwin-Cline ke liye aik bura khwab ban gaya. Sirf aik raat mein usne apni poori crypto savings kho di – aur is sab ke peeche tha aik fake Uber driver, aik suspect cigarette, aur aik pal ki ghaflat.
Kahani Kya Thi?
Yeh 30 saala developer aur shuruati Bitcoin investor, Spain mein apni family se milne jaate hue, London mein thoray time ke liye ruka tha. Usne Soho ke Roxy nightclub mein doston ke saath fun kiya. Raat ko hostel wapas jaane ke liye usne Uber order ki. Bahar aik driver ne usay naam se pukara – sab kuch theek lag raha tha. Lekin gaari app mein dikhai gayi gaari se match nahi karti thi. Phir bhi, woh andar beth gaya.
Woh Cigarette Jo Hazaaron Mein Pari
Driver ne Jacob ko cigarette offer ki. Pehle Jacob ne mana kiya, lekin phir le li. Shayad woh cigarette scopolamine se laced thi, aik powerful sedative jise "zombie drug" bhi kehte hain – itni khatarnak ke isay "the scariest drug in the world" kaha jata hai.
Jacob ko yaad hai ke woh behosh ho raha tha jab driver ne us ka phone manga "directions check karne ke liye." Nashe ki halat mein, usne phone de diya – saath hi apne access codes bhi. Usay dhundla sa yaad hai ke driver apps browse kar raha tha. Jab tak usay samajh aaya, tab tak bohot der ho chuki thi.
Jab usay hosh aaya, woh London ke outskirts mein tha aur us ka phone aur laptop poori tarah se wiped ho chukay thay. Aik ajnabi ne usay hostel wapas jaane ke liye taxi bula di.
Jacob ne kaha, "Unhon ne meri poori zindagi ki kamai loot li."
Crypto Khatam, Wapsi Na-Mumkin Si
Authorities ne baad mein confirm kiya ke attacker ne Revolut ke through us ke wallets tak access haasil ki aur force logins kiye. Kitna nuksan hua? $72,000 se zyada XRP mein, taqreeban $50,000 Bitcoin mein, aur chotay altcoin positions – total $123,000.
Jacob ko lagta hai ke usay us ki daulat ki wajah se target nahi kiya gaya – bas bad luck tha. Phir bhi, tareeqa "key attack" pattern se milta hai: koi hacking ki zaroorat nahi, bas social engineering aur physical coercion.
"Insurance na hone aur zyada tar cold wallets mein hone ki wajah se, isay wapas lena basically impossible hai," usne kaha.
Woh ab FBI ki virtual assets unit ke saath kaam kar raha hai. Aik early crypto adopter hone ke naate, Jacob kehta hai usne high school mein hi Bitcoin mein invest karna shuru kar diya tha – jab yeh $1,000 mark bhi cross nahi kiya tha.
Crypto Market Update: Bitcoin aur XRP Strong Rahey
Likhte waqt, Bitcoin $106,576 ke qareeb trade kar raha hai aur market cap $2.11 trillion ke qareeb hai, January 2025 mein isne $109,000 ki all-time high touch ki thi.
XRP, Ripple ki SEC ke khilaf partial legal win ki wajah se, filhal $2.34 ke qareeb price par hai.
London incident yeh dikhata hai ke crypto mein, sirf tech security hi nahi – everyday awareness bhi zaroori hai. Aik ghalat qadam, aur sab kuch khatam ho sakta hai.
#CryptoScamAlert , #CryptoFraud , #Web3Security , #CryptoNewss , #StaySafe
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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

A brief layover in London turned into a nightmare for Jacob Irwin-Cline. In a single night, he lost his entire crypto savings — all it took was a fake Uber driver, a suspicious cigarette, and a moment of vulnerability.
The 30-year-old developer and early Bitcoin investor went out for drinks at the Roxy nightclub in Soho during a short stopover on his way to visit family in Spain. After a fun evening, he ordered an Uber to return to his hostel. Outside, a driver greeted him by name — everything seemed fine. But the car didn’t match the one shown in the app. He got in anyway.

🚬 A Cigarette That Cost Thousands
The driver allegedly offered him a cigarette. Jacob initially declined, but then accepted. That cigarette may have been laced with scopolamine, a powerful sedative known as the “zombie drug” — so dangerous it’s been called “the scariest drug in the world.”
Jacob remembers slipping in and out of consciousness as the driver asked for his phone “to check the directions.” Dazed and confused, he handed it over — along with his access codes. He vaguely recalls the driver browsing through apps. By the time he realized what was happening, it was too late.
When he came to, he found himself on the outskirts of London with his phone and laptop completely wiped. A stranger called him a taxi back to his hostel.
“They basically took everything I built over my life,” Jacob said.

💸 Crypto Gone, Recovery Nearly Impossible
Authorities later confirmed that the attacker gained access to his wallets via Revolut and forced logins. The losses? Over $72,000 in XRP, nearly $50,000 in Bitcoin, and smaller altcoin positions — $123,000 in total.
Jacob believes he wasn’t targeted for his wealth — just bad luck. Still, the method matches the pattern of a “key attack”: no hacking required, just social engineering and physical coercion.
“Without insurance and with most of it in cold wallets, getting it back is basically impossible,” he said.

He now works with the FBI’s virtual assets unit. As an early crypto adopter, Jacob says he started investing in Bitcoin while still in high school — before it ever crossed the $1,000 mark.

📉 Crypto Market Update: Bitcoin and XRP Stay Strong
As of writing, Bitcoin trades at around $106,576 with a market cap near $2.11 trillion, having reached an all-time high of $109,000 in January 2025.
XRP, boosted by Ripple’s partial legal win over the SEC, is currently priced around $2.34.

💬 The London incident shows that in crypto, it’s not just about tech security — it’s about everyday awareness. One misstep, and it could all be gone.

#CryptoScamAlert , #CryptoFraud , #Web3Security , #CryptoNewss , #StaySafe

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The U.S. Securities and Exchange Commission (SEC) has filed serious charges against Unicoin Inc., a New York-based company, and three of its top executives. The agency claims the company deceived more than 5,000 investors by selling so-called “Rights Certificates” that were supposed to later convert into Unicoin crypto tokens.

🏦 False Claims About Billions in Real Estate
According to the complaint, Unicoin enticed investors with exaggerated claims—such as promises that future tokens would be backed by billions in real estate assets and pre-IPO equity.

In reality, the company held only a fraction of the assets it advertised, and much of the real estate it promoted was largely fictional.

📣 Aggressive Marketing – From Airports to Taxi Ads
Unicoin presented itself as a pioneer in digital investing.

Its promotional campaign included:
🔹 Airport billboards

🔹 Ads in thousands of New York taxis

🔹 TV commercials and social media campaigns
Investors were convinced they were buying a safe next-gen digital investment, with certificates redeemable 1:1 for Unicoin tokens.

🔍 What the SEC Says
According to SEC Deputy Director of Enforcement Mark Cave:
“Unicoin and its leadership exploited thousands of investors with fictional promises that its tokens would be backed by real assets, including a global portfolio of high-value real estate.”

💼 Inflated Numbers, No Real Registration
Investigators identified three major misrepresentations:
False asset backing – claims of billion-dollar reserves were fabricatedExaggerated sales – the company claimed over $3 billion in sales, but actually raised just $110 millionFake regulatory legitimacy – tokens and certificates were advertised as “SEC registered,” though no such registration existed

🧾 CEO Sold His Own Certificates
Unicoin’s CEO, Alex Konanykhin, allegedly sold nearly 38 million of his own certificates, often at a discount.

Also charged: former president Silvina Moschini and former CIO Alex Dominguez.
The SEC is requesting:
🔻 permanent bans on serving as executives in publicly traded firms

🔻 the return of unlawfully obtained profits

🔻 civil penalties for both individuals and the company

⚖️ Company Lawyer Settles and Pays Fine
The lawsuit also names Richard Devlin, Unicoin’s former general counsel, accusing him of repeating false claims in investor materials.
Without admitting or denying guilt, Devlin agreed to settle—he will pay a $37,500 civil penalty and is permanently barred from certain activities.

Summary:
👉 SEC accuses Unicoin and its leaders of $100M fraud

👉 Investors misled by promises of asset-backed tokens and SEC registration

👉 Executives face bans, restitution, and fines

👉 A harsh reminder of how digital hype can lead to very real legal consequences

#SEC , #CryptoFraud , #Cryptoscam , #CryptoSecurity , #CryptoNewss

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The Australian Federal Police (AFP) has confiscated over $4.5 million worth of assets from a Queensland man suspected of involvement in the 2013 theft of 950 Bitcoin from a French cryptocurrency exchange. The operation marks a major milestone in an ongoing investigation into cybercrime and illicit crypto proceeds.

Waterfront Property, Luxury Car, and Nearly 25 BTC Seized
According to the Criminal Assets Confiscation Taskforce (CACT) led by the AFP, the seized assets include:
🔹 a waterfront property in Beachmere, Queensland

🔹 a black 2019 Mercedes-Benz sedan

🔹 24.99 BTC
The assets were forfeited to the Commonwealth under civil asset forfeiture laws, which allow for seizure without a criminal conviction.

Suspicious BTC Transactions Sparked the Investigation
Codenamed Operation Gouldian, the case began in September 2018 after Luxembourg authorities tipped off AUSTRAC, Australia's financial intelligence agency, about suspicious Bitcoin movements.
Further investigations revealed the suspect was living lavishly without legitimate income. He had previously been convicted of hacking a U.S. gaming company. No criminal charges have been filed specifically in relation to the 2013 crypto theft—yet authorities proceeded under proceeds of crime legislation.

AFP: Crime Profits Fuel More Crime
“Criminals are driven by greed at the expense of honest Australians and businesses,” said AFP Commander Jason Kennedy.

“Illicit profits often fund further criminal activity, which is why we work closely with our CACT partners to strip offenders of those proceeds and redirect them to benefit the community.”

Confiscated Funds to Be Reinvested
The seized assets are being handled by the Australian Financial Security Authority, and proceeds will be transferred to the Commonwealth Confiscated Assets Account. From there, the Attorney-General can allocate them to:
🔹 crime prevention programs

🔹 law enforcement efforts

🔹 initiatives combating drug trafficking and related social harm

Another Case of Crypto Crime Funding Luxury
This case joins a growing list of incidents where crypto theft profits were used to fund lavish lifestyles. Just last week, the U.S. Department of Justice charged 12 individuals in a $263 million crypto fraud scheme, revealing that illegal gains had been spent on luxury vehicles, jewelry, and designer goods.

#CryptoCrime , #bitcoin , #CyberSecurity , #CryptoFraud , #DigitalAssets

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“