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Mandy Williams



Articles by Mandy Williams

Coinbase Eyes Europe Expansion, Hires Four New Executives

9 days ago

Leading American cryptocurrency exchange Coinbase has on-boarded new executives to lead its expansion plans in Europe, the Middle East, and Africa (EMEA) despite the intense bear market pushing several crypto entities into bankruptcy.  
According to the exchange, the appointments are part of its ”Go Broad and Go Deep strategy’ for global expansion, which the company announced in Q3. CryptoPotato reported in July that Coinbase sought regulatory approval from several European countries to strengthen its regional presence. 
Coinbase Seeks Europe Expansion with New Hires
Coinbase appointed Elke Karskens as country director for the United Kingdom and Patrick Elyas as director of EMEA market expansion. 
Furthermore, Cormac Dinan, a former general manager at rival exchange

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Here’s How Much Has Been Recovered Since FTX’s Bankruptcy Filing

13 days ago

As events continue to unfold in the wake of FTX’s collapse, some of the funds missing from the exchange’s accounts have been found and secured.
Shortly after its sudden downfall, FTX hired digital asset custodial company BitGo to handle its accounts and assets. Now, the custodial firm has recovered crypto assets worth over $700 million for the exchange.
$740M in Crypto Recovered From FTX
According to a Wednesday filing at the United States Bankruptcy Court for the District of Delaware, $740 million in crypto was transferred to BitGo on November 16, four days after FTX filed for bankruptcy.

“Initially, the average estimated monthly cost is expected to equal approximately $100,000 based on approximately $740,000,000 in value of Digital Assets that had been transferred to

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Bitcoin Mining Firm Core Scientific Lost $1.7 Billion in 2022

14 days ago

Public-traded Bitcoin mining company Core Scientific has lost about $1.7 billion since the start of the year, according to its quarterly report filed with the United States Securities and Exchange Commission (SEC) on Tuesday.
The filing shows that the firm recorded its second consecutive quarterly loss at the end of Q3. The Bitcoin miner lost $435 million in Q3 and $862 million in Q2, bringing its net loss for the year to a staggering $1.7 billion.
Core Scientific Seeks Fresh Capital
Core Scientific said it needed fresh capital before continuing operations this month. The firm also noted that it anticipates its existing cash resources to be depleted sooner or by year-end. 

“Given the uncertainty regarding the Company’s financial condition, substantial doubt exists about

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The Fall of Sam Bankman-Fried’s Crypto Empire: A Timeline of FTX’s Collapse

15 days ago

The first twelve days of November were perhaps the darkest for 30-year-old Sam Bankman-Fried (SBF), as he not only lost his crypto empire but went from being a Bitcoin billionaire and crypto’s white knight to filing for bankruptcy and owing customers at least $3 billion.
The next eight days revealed that SBF’s once-powerful crypto exchange FTX was not what everyone believed it to be.
Here’s the timeline of the events that led to the fall of FTX in the last 20 days.
The Beginning of the End
Nov 2: Troubles started for the exec and his empire after crypto media CoinDesk published a controversial report highlighting critical details in the balance sheet of SBF’s trading firm Alameda Research. The article revealed that Alameda is heavily invested in FTX’s exchange’s native

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Crypto Scammers Hiring KYC Actors to Build Trust and Defraud Investors: Report

17 days ago

A new report from blockchain security firm CertiK revealed that a large group of professional “Know Your Customer (KYC)” actors are being employed by dubious blockchain developers and scammers to defraud crypto investors.
KYC verification systems are used by crypto projects in the Web3 space to establish customer identity and qualify the source of funds. The process helps the platforms protect themselves from fraud, money laundering, and terrorist financing.
Crypto Fraudsters Hire KYC Actors for Scams
According to CertiK’s report, the actors are hired to complete the KYC process on behalf of fraudulent project owners who want to gain the crypto community’s trust before executing an insider hack or exit scam, popularly known as rug pull. 
During its investigation, the

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Here’s Why Tim Draper Still Believes Bitcoin Will Reach $250K

17 days ago

American billionaire venture capitalist Tim Draper has reiterated his bullish support for Bitcoin despite the crypto winter intensified by the sudden crash of the FTX exchange. 
Draper predicted last June, during the bull market, that the leading crypto asset would reach $250,000 by the end of 2022. However, his prediction is less likely to happen this year since the largest cryptocurrency is now trading below $17,000 following the FTX fiasco. 
Women and Retailers Can Push Bitcoin to $250k
Nonetheless, the billionaire still believes Bitcoin will hit the $250,000 target and probably go beyond once the market recovers and people, especially women, start using the cryptocurrency for daily shopping. 
According to Draper, women control 80% of the total retail spending, which

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These Are the Most Shocking Findings From FTX’s Bankruptcy Filing

17 days ago

In the wake of crypto exchange FTX’s collapse, which triggered a severe contagion across the industry, many shocking discoveries have been made about the company’s governance and management system.
A detailed examination of the firm’s bankruptcy filing has shown that “FTX was a slush fund masquerading as a real business,” according to FOX reporter Genevieve Roch-Decter.
FTX Approved Expenses with Emojis
A part of the 30-page-long filing revealed that FTX Group did not have an appropriate disbursement control system. Employees submitted expense requests through online chats while supervisors and managers approved them with personalized emojis. 
Most decisions were made via chats, and FTX founder and former CEO Sam Bankman-Fried (SBF) reportedly encouraged employees to use

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South Korea Confiscates Over $100 Million from Terra’s Co-founder: Report

19 days ago

South Korean prosecutors have seized more than $100 million worth of assets belonging to Shin Hyun-Seong (Daniel Shin), the co-founder of Terraform Labs, for his role in the collapse of the Terra ecosystem in May. 
According to reports from local publication YTN, the court approved the prosecutor’s request to freeze 140 billion won ($104 million) in profits Shin generated for selling pre-issued LUNA tokens at a high price without informing retail investors.
Shin to Cooperate With Prosecutors 
The request to seize Shin’s assets is part of an ongoing investigation to build a case against Terraform Labs that the co-founder generated unfair profits from Terra-related digital assets, including the collapsed LUNA and UST tokens – rebranded to LUNC and USTC. 
Authorities believe

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Big Short Investor Michael Burry Sees This Asset Rising Amid FTX Contagion

20 days ago

Michael Burry, the fund manager and investor who became popular from the “The Big Short” movie, believes gold will shine as investors seek safety from crypto risks due to the catastrophic collapse of Sam Bankman-Fried’s FTX. 
Burry is notoriously famous for shorting the U.S. housing market and profiting from the 2008 financial crisis. He also netted millions from investing in GameStop in 2019 before the Reddit frenzy and meme stock season in January 2021. 
Big Short Investor: Time for Gold 
The fund manager shared his thoughts on gold in a tweet that has now been deleted. According to Burry, Gold’s time will come as the crypto market continues to suffer from the contagion caused by FTX’s downfall. 

“Long thought that the time for gold would be when crypto scandals merge

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Bankrupt Crypto Lender Celsius Seeks Extension of Exclusivity Period

25 days ago

About four months after commencing voluntary Chapter 11 bankruptcy proceedings, crypto lender Celsius Network is yet to execute the much-talked-about restructuring plan. 
The troubled lender has now filed a motion requesting the court’s approval to extend the deadline for the submission of its reorganization plan.
Celsius Files for Extension of Exclusivity Period
Celsius announced the filing on Thursday via Twitter, stating that the work is complex and requires rigorous planning.
The firm claims it is making “substantial progress towards the determination of a value-maximizing path forward” and that any interruptions could compromise the goal of all parties involved. The lender also disclosed that it had to handle some important legal issues before the case could be

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Binance CZ: FTX Demise is Crypto’s 2008 Financial Crisis

25 days ago

Changpeng Zhao (CZ), CEO of the world’s largest cryptocurrency exchange Binance, has expressed his belief in the ability of the crypto market to heal itself once the full impact of FTX’s implosion is felt.
Speaking at a conference in Indonesia, CZ said that more companies would be affected by FTX’s downfall, considering how big the crypto exchange was. 

“With FTX going down, we will see cascading effects. Especially for those close to the FTX ecosystem, they will be negatively affected,” he said, adding that in the end, the “market will heal itself.”

CZ: Crypto Crisis Echoes 2008 Crash
The Binance CEO likened the current crypto winter to the 2008 global market crash, the most severe financial crisis since the Great Depression.
CZ noted that the global economic crisis is

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Canada’s Teacher’s Pension Fund Faces Investment Issue in FTX’s Liquidity Crunch

27 days ago

Canada’s Ontario Teachers Pension Plan (OTPP) is in jeopardy due to its large investment in the cryptocurrency exchange FTX, which is currently facing a significant liquidity crunch.
A recent report from The Globe and Mail revealed that OTPP invested in FTX a year ago when the firm was valued at $25 billion. The pension plan bought its first FTX stake in October 2022 during a $420 million funding round alongside 69 other investors.
Teachers’ Pension Plan in Trouble as FTX Shakes
Although OTPP did not reveal how much it invested in the troubled company, spokesperson Dan Madge said FTX was not on the list of investments over $200 million in the fund’s annual report for 2021.

“Given the fluid nature of the situation, we have no comment right now,” Madge said.

The investment

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Indonesia Plans to Tighten Crypto Regulation Following FTX’s Insolvency 

27 days ago

Indonesia plans to give its Financial Services Authority (OJK) the power to regulate cryptocurrency investments and market oversight.  
The country’s Trade Ministry currently polices the digital asset industry in collaboration with the Commodity Futures Trading Regulatory Agency. However, Indonesia’s finance minister, Sri Mulyani Indrawati, said the country would transfer the authority to OJK to protect consumer interests. 
Indonesia Concerned About Investors’ Assets 
Indonesia’s plans were influenced by the latest events in the industry that saw the fall of FTX, one of the biggest crypto exchanges in the world. The incident resulted in another bloodbath after Terra’s crash in May, erasing billions of dollars from the market. 
According to reports, the new plan proposed by

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Kraken’s Jesse Powell Blasts FTX CEO, Lists All Red Flags About SBF

27 days ago

The past few days were unnerving as the crypto industry watched the fall of FTX, one of the world’s largest crypto exchanges.
With FTX now insolvent, some of the biggest and oldest players in the space have started expressing disappointment at the company’s CEO, Sam Bankman-Fried (SBF), popularly known as crypto’s white knight.
Jesse Powell Blasts SBF
One such person is Jesse Powell, co-founder and former CEO of crypto exchange Kraken, who has taken to Twitter to blast SBF, listing some of his deeds and describing them as red flags.
In a 14-tweet-long thread, Powell expressed his anger about the outcome of the FTX saga and its effect on the broader crypto market. 
The Kraken co-founder argued that the crypto community’s good and trusting nature has made it an easy target

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Deribit Hacker Has Started Moving the Stolen $28M to Tornado Cash

November 7, 2022

Less than a week after exploiting the leading cryptocurrency derivatives exchange Deribit, the attacker started moving the stolen funds.
As of November 5, the hacker had moved 1,610 Ether (ETH) worth over $2.5 million to the U.S.-sanctioned crypto mixer Tornado Cash, leaving a balance of about 7,501 ETH in the address.
What Happened?
On November 2, CryptoPotato reported that Deribit lost $28 million in a hot wallet exploit. The hacker made away with crypto assets such as Bitcoin (BTC), ETH, and USD Coin (USDC).
The exchange was forced to pause withdrawals and deposits as it tried to control the situation by conducting security checks. Deribit told users that all losses would be covered by its reserves and not the insurance fund, assuring them that clients’ assets,

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Hacktober Finished With $657 Million Losses From Crypto Exploits

November 6, 2022

Last month was quite spooky for the crypto industry as it saw the highest number of DeFi hacks this year. 
While October was expected to be “Uptober,” it quickly turned to “Hacktober” as cyber criminals ransacked top crypto projects for hundreds of millions of dollars. 
Hackers Steal $760M From DeFi Protocols
A recent tweet by the blockchain security company PeckShield pointed out that October was the biggest month for hacking activities this year. The DeFi market suffered from 44 exploits that impacted 53 protocols in the tenth month, with the hackers netting $760.2 million.
According to PeckShield, the biggest amount of funds was stolen from the BNB Chain exploit that saw hackers wipe a whopping $586 million from the blockchain network. It was followed by the

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These Crypto Companies Slashed Their Workforce Since the Market Crash in April

November 6, 2022

In the aftermath of the crypto winter, which erased billions of dollars from the industry after last year’s rally to an all-time high, many firms have significantly reduced their headcounts over the past few months to cut operational costs. 
This may not come as a surprise due to the impact of the bear market, which forced several big companies, including Three Arrows Capital (3AC), Voyager Digital, and Celsius Network, into bankruptcy. 
The Crypto Job Cut Trend
While some firms struggled to weather the storm to maintain their operations, others had to take drastic measures to keep their businesses afloat. 
The massive layoffs started with the crypto derivatives exchange BitMEX in April before the catastrophic collapse of TerraUST and its sister token, LUNA, in preparation

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Dark Side of Crypto: 98% of Projects Listed on Uniswap Are Scam (Study)

November 5, 2022

A new study has found nearly all crypto projects listed on Uniswap between 2018 and 2021 were malicious and scam-related. 
The study titled DO NOT RUG ON ME: ZERO-DIMENSIONAL SCAM DETECTION, was conducted by three researchers; Bruno Mazorra, Victor Adan, and Vanesa Daza from the University of Pompeu Fabra and the University of Barcelona. 
Could Uniswap Be Housing Fake Projects? 
Uniswap was created in 2018, and the protocol describes itself as a growing network of decentralized finance (DeFi) applications.
The DEX has more than 40,000 Ethereum smart contract (ER20) compatible tokens hosted on the platform to provide users with options for trading different crypto assets. Over the years, Uniswap has become one of the most significant DeFi protocols in the industry,

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SKYWARD Token Dumps 95% as Hackers Drain Protocol’s Treasury

November 3, 2022

SKYWARD, the native token of NEAR-based platform Skyward Finance, plunged by 95% after the protocol’s treasury lost $3 million in a smart contract exploit.
The attack occurred in the late hours of Wednesday and was first reported by Twitter user Sanket Naikwadi before Skyward Finance publicly acknowledged the incident. 
How it Happened
According to Naikwadi, the exploit was first noticed by NearScout, a member of the NEAR blockchain community. The attackers were able to make multiple withdrawals in one transaction.

The @skywardfinance was just exploited for ~1.1M $NEAR Tokens (Worth ~3M) . 😢
Thnx to @NearScout for noticing the treasury drain, he pinged me asking if something is wrong with skyward… then we looked into contract txns and found out about the exploit and sus

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3 Reasons Behind MATIC’s 17% Surge to 7-Week Highs

November 3, 2022

Polygon (MATIC) was among the best performers in the top 20 cryptocurrencies in the last 24 hours. The token gained nearly 17% and traded at $0.98 for the first time since mid-August. 
Although its valuation has retraced to $0.95, here are three possible reasons behind MATIC’s impressive 17% increase. 
MATICUSD. Source: TradingViewMeta Picks Polygon for NFT Minting
On November 2, Ryan Wyatt, CEO of Polygon Studios, announced that Meta, the parent company of social media platforms Facebook and Instagram, has selected Polygon for its digital collectibles. 
Recall that Meta recently joined the NFT bandwagon after its failed crypto project last year. In August, the social media giant announced that users could start posting NFTs on Instagram and Facebook. 
The latest

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Visa, CryptoCom Partner to Launch New NFT Collection Ahead of FIFA World Cup

November 1, 2022

Leading global payment processor Visa has launched a new non-fungible token (NFTs) solution dubbed “Visa Masters of Movement,” designed to engage football fans in the FIFA World Cup Qatar 2022.
Visa has been the official payment partner of the International Federation of Associations of Football (FIFA) since 2007. The payments giant described its new product as the “first of its kind” hybrid experience that features a pre-event NFT auction and immersive activation for football lovers in the FIFA World Cup scheduled to begin later this month. 

“As FIFA World Cup 2022™ approaches, we want to celebrate football, art, and technology through the lens of what makes the FIFA World Cup™ so special – wildly impassioned fans, legendary athletes, and, for a few short weeks, the

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Coinbase Supports Ripple’s SEC Battle: Files Amicus Brief

November 1, 2022

Leading American cryptocurrency exchange Coinbase is seeking permission to file an amicus brief, also known as “friend of the court,” in support of Ripple Labs’ ongoing court case with the United States Securities and Exchange Commission (SEC). 
According to a court document submitted on October 31, the exchange sought permission from Judge Analisa Torres of the United States District Court for the Southern District of New York Judge to file the petition against the Commission. 
SEC v. Ripple: The Genesis
Recall that in December 2020, the SEC officially sued Ripple and its executives, Chris Larsen and CEO Brad Garlinghouse, for allegedly conducting unregistered securities sales by selling XRP tokens to U.S. investors without authorization from the Commission.
The agency

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Bitcoin Whitepaper Turns 14 Today: The Journey So Far 

October 31, 2022

Today marks the 14th anniversary of the publication of the Bitcoin whitepaper. On this day in 2008, Satoshi Nakamoto released a nine-page document that began a financial revolution and birthed a trillion-dollar industry. 
On October 31, 2008, the pseudonymous Satoshi released the Bitcoin whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” to a cryptography mailing list. 
The Birthing of Bitcoin
The mailing list was hosted by Metzdow and run by a group of cypherpunks who shared ideas on creating a kind of digital currency and payment system. Satoshi shared the whitepaper in a message that read, “Bitcoin P2P e-cash paper,” which outlined the main properties of the system.
The pseudonymous Bitcoin creator disclosed that they had been working on a new electronic

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Ukraine, Indonesia, and Russia Led Crypto Adoption in Q3: DappRadar

October 30, 2022

Crypto adoption is shooting through the roof despite the bear market and uncertainty surrounding asset prices, according to recent findings from the leading decentralized application (dApp) analytics platform DappRadar. 
The analysis, dubbed the Blockchain Behavior Report, outlined major trends that affected the blockchain space in the last quarter, including regions where crypto adoption accelerated in both usage and regulatory efforts.
Countries That Led Crypto Adoption in Q3
The findings revealed that Ukraine, Indonesia, and Russia saw the biggest adoption growth, with their adoption rates increasing by 143.17%, 115.59%, and 88.28%, respectively.
The United States retained its position as the largest crypto market, with India overthrowing Russia from second place with

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Mango Markets Exploiter Says Profitable Traders Like Him Attract Jealousy and Hate

October 30, 2022

Avraham Eisenberg, the software coder and crypto trader behind Mango Markets’ $100 million exploit, believes “profitable traders” like himself attract a lot of jealousy and hate from other crypto traders.
Eisenberg shared his belief with Laura Shin during an interview on the Unchained Podcast on Friday. He argued that the public is bound to hate and criticize people who execute profitable arbitrages.
Hate for Profitable Traders
Recall that the Mango Markets exploit, which happened two weeks ago, drained the platform of its liquidity, leaving users unable to withdraw their assets. For Eisenberg, the incident was a “highly profitable trading strategy,” but the crypto community thinks otherwise.
Eisenberg and his team executed a self-funded economic attack by manipulating the

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Nearly 50% of Gen Z and Millennials Want Crypto Exposure in 401(k) Plans: Survey

October 29, 2022

As the global financial ecosystem continues to witness major changes, young investors in the United States are increasingly leaning towards crypto assets as an alternative investment option to add to their retirement plans.
50% of Young People Want Crypto in 401(k)
A recent survey by the U.S. asset manager, Charles Schwab, which polled about 1,100 401(k) retirement plan participants aged between 21 and 70, revealed growing interest in the nascent digital asset industry. 
About 45% of millennials and 46% of Gen Z disclosed that they “wish” to invest in cryptocurrencies when asked what investment products they would like to see added to their (401k) retirement plan.
The survey further revealed that 43% of Gen Z and 47% of millennials have already invested in cryptocurrencies

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THORChain Network Remains Offline 15 Hours After Software Bug 

October 28, 2022

The THORChain network went offline Thursday due to a software bug, the blockchain operators confirmed on Twitter.
The team noted that they are working to resolve the issue as soon as possible, adding that the outage has nothing to do with solvency. 

Devs are aware of a chain halt and have identified the likely cause due to a unique transaction type (nothing to do with solvency).
An update will be posted as soon as there is more confirmed information.
— THORChain (@THORChain) October 27, 2022

A Non-Determinism Between Nodes
About four hours after the initial announcement, the THORChain team shared another update, stating that the issue stemmed from sources of non-determinism between nodes.

“Consensus halts in a distributed state machine are from sources of

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Crypto Vesting Platform Team Finance Loses $14.5M in Bug Exploit

October 27, 2022

With “Hacktober” ending in a few days, yet another crypto platform has been added to the list of crypto protocols that have lost millions of dollars worth of digital assets to hackers this month. 
Earlier today, cryptocurrency vesting platform Team Finance announced it had become the latest victim after losing $14.5 million to a bug exploit. The platform added that the attackers stole the digital assets through its recently audited v2 to v3 migration function. 
Team Finance Ready to Offer Bounty to the Hackers
Team Finance has temporarily suspended all activities on the platform to prevent further attacks. The project is now hoping that the hackers will get in touch to discuss a bounty payment and refund the stolen funds.

“We have just been alerted of an exploit on Team

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Singapore Wants to Prohibit Retail From Borrowing Funds for Crypto Investing: Report

October 27, 2022

Singapore authorities have proposed a new set of regulatory measures to oversee the use of digital assets in the country and protect consumers.
The country’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), recently published two consultation papers containing suggestions to tighten the country’s regulatory stance on digital assets.
MAS Proposes Ban on Crypto Credit
One of the proposals outlined in the consultation paper is to prohibit retail investors from using credit cards or other credit facilities to borrow funds for purchasing or trading cryptocurrencies. 
The MAS also proposed that crypto investors undergo an assessment requiring them to answer a questionnaire to verify whether they understand the potential risks associated with

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Bithumb Ex-Chair Faces 8 Years in Prison for Alleged $70M Crypto Fraud: Report

October 26, 2022

South Korean prosecutors are pushing for an eight-year sentence for Lee Jung-hoon, the former chairman of crypto exchange platform Bithumb, for an alleged $70 million fraud.
According to a report by the local media outlet Yonhap, prosecutors alleged that Lee had defrauded Kim Byung Gun, the chairman of Singapore-based BK Group, in a failed attempt to acquire Bithumb earlier in 2018.
The Genesis
As per the report, Lee convinced Kim to issue Bithumb Coin (BXA) via the BK Group-affiliated Blockchain Exchange Alliance, with the assurance that BXA would be listed on Bithumb.
Kim used some of the proceeds from the BXA presale, about $25 million, to purchase his stake in Bithumb. The token was also sold to numerous other investors, accumulating approximately $45 million in

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