Digital Currency Group Responds to Gemini Lawsuit, Calls it a "Publicity Stunt"
Digital Currency Group has dismissed the lawsuit filed against it by Gemini as a "publicity stunt" by Cameron Winklevoss. Gemini had accused DCG and its CEO Barry Silbert of defrauding its creditors by continuing the Earn program despite knowing about Genesis' insolvency. DCG has denied any wrongdoing and called Gemini's claims baseless and defamatory. The mediation process is said to be nearing a close, and DCG expects to bring the Genesis Chapter 11 case to a conclusion soon.
Florida Men Settle with CFTC Over Multi-Million Dollar Bitcoin Scheme Fraud Charges
The Commodity Futures Trading Commission (CFTC) has settled with two men from Florida who were accused of running a Bitcoin scheme that defrauded investors out of over $5 million in 2018. Randy Craig Levine and Philip Reichenthal were charged with digital asset fraud and have been ordered to pay around $5.4 million in restitution as part of the settlements.
Korean Media: Delio Transferred All 7.07 Million US Dollars of Virtual Assets Held Before the Suspension of Deposits and Withdrawals. The Background and Purpose of the Transfer Are Not Yet Clear
July 5 (Cointime) - Digital asset management firm Delio moved 9.2 billion won (approximately $7.07 million) worth of cryptocurrencies before stopping deposits and withdrawals, Digital Asset reported. The act has sparked controversy, and only through a mandatory investigation can the background and purpose be confirmed. Victims of Delio have reported the case to prosecutors, accusing him of fraud and other crimes.
PeckShield Report: Half of Stolen NFTs Sold Within Three Hours on Leading Marketplaces
July 4 (Cointime) - According to a report by PeckShield, a web3 fraud detection tool, half of stolen NFTs are sold within 160 minutes on leading marketplaces Blur and OpenSea. The value of stolen NFTs decreased to $2.27 million in June from the previous month's $2.95 million.
NotLarvaLabsPauly Founder: Willing to Testify in Court to Help Azuki Community Take Legal Action Against ZAGABOND
July 3 (Cointime) -The founder of NotLarvaLabsPauly expressed his willingness to help the Azuki community in legal proceedings against ZAGABOND on Twitter. He accused Zagabond of being a pathological liar and serial killer, and spent over a year tracking him down to recover $3 million worth of USDC funds he was defrauded of. Pauly also claimed that Zagabond and his team illegally obtained more than $100 million in funds from the community. He expressed his willingness to testify in court and provide all information related to this.
Binance has released a XIRTAM Refund Application Form to Collect Victim Address
July 2 (Cointime) - Binance has released a form for XIRTAM refund requests, which only collects addresses of XIRTAM project victims. Binance stated that it has received several reports regarding the XIRTAM incident and is fully aware of the severity of the problem. An investigation has been immediately launched and action taken. Funds suspected of fraud have been frozen in the Binance account. Users are strongly advised to be vigilant and ensure the safety of their assets.
South Korean Crypto Lending Firm Delio Under Investigation for Fraud and Embezzlement
June 30 (Cointime) - South Korean crypto lending firm Delio is being investigated by the country's Financial Services Commission (FSC) for fraud, embezzlement, and breach of trust related to the suspension of users' deposits and withdrawals on June 14. Delio's CEO and management staff have been barred from leaving the country pending an investigation by prosecutors. Delio is one of South Korea's largest crypto lenders, holding an estimated $1 billion in Bitcoin (BTC), $200 million in Ether (ETH), and $8.1 billion in various altcoins. Delio's sister firm, Haru Invest, also suspended withdrawals and deposits on June 13 due to an issue with a "consignment operator."
Cboe Amends Ark Bitcoin ETF Application to Include Market Surveillance, Following BlackRock's Lead
June 29 (Cointime) - The Cboe BZX Exchange has updated its ARK 21Shares Bitcoin ETF proposal to include a feature that helps prevent market manipulation and fraud. The amendment includes a surveillance-sharing agreement with a Bitcoin spot trading operator, similar to a feature in BlackRock's proposal for a spot Bitcoin ETF.
BlockFi Creditors Push for Chapter 11 Trustee Amid Allegations of Fraud and Broken Promises
June 28 (Cointime) - BlockFi's Official Committee of Unsecured Creditors has filed a court document calling for a Chapter 11 trustee to be appointed, exclusivity periods to be terminated, or the cases to be converted to Chapter 7 proceedings. The UCC claims that BlockFi customers do not have a clear understanding of what happened, which is "facilitating case mischief."
Creditors Accuse BlockFi CEO of Fraud and Extortion in Delaying Bankruptcy Proceedings
June 28 (Cointime) - Creditors of bankrupt cryptocurrency lender BlockFi have filed for the company to be liquidated, accusing CEO Zac Prince and other management of fraud, extortion, and delaying bankruptcy proceedings.
