Recently, the Hong Kong police arrested three individuals suspected of defrauding a businessman out of HK$3.11 million in crypto assets. The trio allegedly offered him three bundles of counterfeit HK$1,000 banknotes in exchange for the digital currency. During a raid on the Mong Kok office where the fraudulent transaction took place, officers confiscated 10,978 fake
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In a recent development, a US court has granted Binance US the permission to invest a portion of its customer fiat funds, currently held at BitGo, in US Treasury Bills. This decision comes after the exchange requested the court’s approval to invest around $40 million in $10 million increments over a span of four weeks.
Dalmas Ngetich, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years.
Recently, Hong Kong’s financial regulators wrapped up a consultation period regarding a licensing program initiative for fiat-referenced stablecoin (FRS) providers. The consultation, which came to a close in February, garnered 108 submissions from a variety of stakeholders, ranging from market participants to industry associations and professional organizations. The joint statement made on July 17 by
The recent announcement from crypto exchange OKX has sent shockwaves through the Nigerian crypto community. OKX has informed Nigerian clients that they have until Aug. 16 to close their positions, as the platform is ceasing operations in the African country due to local regulations. In a move that has left many users frustrated, OKX stated
The decentralized finance (DeFi) platform LI.FI protocol recently fell victim to an exploit resulting in over $8 million worth of funds being stolen. Cyvers Alerts brought attention to suspicious transactions within the LI.FI cross-chain transaction aggregator. LI.FI acknowledged the breach in a statement on July 16, warning users not to engage with any http://LI.FI powered
The Ministry of Finance in Russia has put forward a proposal to allow traditional exchanges to facilitate digital asset trading for a specific group of investors. This proposal aims to create specialized regulations for organized trading in digital currencies, considering them as commodities, based on either an exchange license or a trading system license. The
The recent phishing scam on Blur Marketplace that resulted in an investor losing $240,000 worth of NFTs sheds light on the evolving tactics scammers are using in the digital asset space. Unlike traditional phishing schemes that rely on deceiving emails or messages, this attack was a well-orchestrated technical maneuver. The scammer exploited a vulnerability in
Railgun, a popular crypto privacy protocol, recently made headlines for successfully foiling Inferno Drainer’s latest attempt to launder stolen funds. The anti-money laundering tracking system, MistTrack on X, intercepted an effort to launder over 174 ETH, valued at approximately $533,000. This led the perpetrators to return the stolen funds to their original wallet’s address. Inferno
The recent attempt by the US House of Representatives to overrule President Joe Biden’s veto and rescind SEC Staff Accounting Bulletin (SAB) 121 ultimately fell short. With 228 House members voting in favor of HJ Res. 109 to end SAB 121, 184 voting against it, and 21 abstaining, it is clear that there was majority