The world of cryptocurrency is not just a financial frontier; it represents a dynamic tapestry of technology, culture, and opportunity. Among the individuals captivated by this domain is Opeyemi, whose enthusiasm is palpable. Initially, cryptocurrency was not his first passion, but once he ventured into its depths over two years ago, he discovered a unique
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In recent times, the Commodity Futures Trading Commission (CFTC) has teamed up with various federal and private organizations to combat the increasing prevalence of crypto scams, particularly the notorious “pig butchering” scams. These fraudulent schemes have resulted in significant financial losses, highlighting the urgent need for greater awareness and vigilance among consumers. Partnership Against Scams
The news of Tokocrypto securing a PFAK license from Indonesia’s Commodity Futures Trading Regulatory Agency is a significant milestone for the exchange. With a user base of over 4.5 million and a monthly trading volume increase of 138%, it is clear that Tokocrypto has experienced substantial growth in the past year. This growth demonstrates a
In 2024, the US Securities and Exchange Commission (SEC) made headlines by imposing a staggering $4.68 billion in fines against various crypto companies. This marked a significant milestone in the agency’s history, representing the most aggressive regulatory year to date. According to a report by Social Capital Markets, this hefty sum brings the total fines
The United States Federal Bureau of Investigation (FBI) has recently issued a warning to the public regarding aggressive attacks by North Korean hackers on the crypto industry and companies associated with digital asset investment products. These attacks are not your typical cyber threats; they consist primarily of sophisticated social engineering tactics that even those well-versed
In a groundbreaking case in Scotland, an amount of £110,000 was seized from a 29-year-old man named John Ross Rennie. This incident represents the first time that proceeds of crime legislation have been utilized to confiscate cryptocurrency as physical cash in the country. The case was resolved at the High Court in Edinburgh, highlighting the
The U.S. Federal Reserve recently issued a cease-and-desist order against United Texas Bank (UTB), stating that the bank had significant deficiencies in its governance, particularly in its adherence to anti-money laundering (AML) laws and risk management related to virtual currency customers and foreign correspondent banking. This order comes after an examination conducted in May 2023,
The CEO of Binance, Richard Teng, made a strong statement condemning the Nigerian government for its treatment of Tigran Gambaryan, an American executive detained since February. Teng emphasized the inhumane treatment Gambaryan has faced and called for his release for medical treatment and to be with his family. A viral video surfaced showing Gambaryan struggling
The crypto space faced significant challenges in August 2021, with over $313 million in losses reported due to more than ten different hacking incidents. Shockingly, 93.5% of the stolen funds were a result of just two major phishing attacks during that period. These incidents, as highlighted by blockchain security firm PeckShield, cumulatively accounted for a
OKX SG, the Singaporean entity of the crypto exchange OKX, made a significant move by obtaining a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore as it allows businesses to operate without daily or monthly transaction limits. Companies seeking this license must meet specific