Tag Archives: DoJ

The United States Department of Justice (DOJ) has indicted two men for perpetrating a crypto Ponzi scheme that defrauded investors of approximately $25 million. According to a press release from the Justice Department, 51-year-old David Gilbert Saffron of Australia and 52-year-old Vincent Anthony Mazzotta Jr. of California operated a fraudulent crypto investment scheme that lured victims with false promises of high returns. DOJ Charges Two Men for Operating Crypto Scheme Per...

The filing comes just weeks after it was reported that SafeMoon executives were at the centre of a Department of Justice (DoJ) securities fraud investigation. Crypto firm SafeMoon on Thursday, December 14,  filed for Chapter 7 bankruptcy, also known as liquidation bankruptcy. The filing was done by attorney Mark Rose in the United States Bankruptcy Court for the District of Utah. This comes as the company’s executives face criminal charges in the United States for allegedly defrauding...

Binance says it has agreed to a robust monitorship for its compliance and sanctions control programs. Popular crypto exchange Binance has revealed that it has made significant progress with regulators. This follows after its recent run-in with regulatory bodies such as the US Securities and Exchange Commission (SEC) and the (CFTC). In a Tuesday blog post, the exchange acknowledged that it may have done things a bit wrongly in the past. That is, it may have not considered how quickly it was...

According to the U.S. Attorney’s Office for the Eastern District of New York, Anatoly Legkodymov, the co-founder of Bitzlato, a Hong Kong-registered virtual currency exchange, has entered a guilty plea for money laundering charges. Initially arrested in Florida, Legkodymov’s case was transferred to New York. Bitzlato Founder Pleads Guilty In a press release dated December 6, 2023, the U.S. Department of Justice (DoJ) disclosed that Legkodymov is responsible for “transporting...

Despite the ongoing legal battle with CZ Binance and the US government, market experts believe the company will continue to maintain its position as the biggest crypto exchange in the world.  Changpeng Zhao (CZ), the founder and former CEO of the world’s largest cryptocurrency exchange Binance has hired Matthew Diggs, an ex-prosecutor in the United States with years of criminal and regulatory experience, to defend his interests in the ongoing settlement saga with the government. Recall...

In his latest remarks, Kraken co-founder Jesse Powell spoke about the current state of the cryptocurrency industry amidst a backdrop of significant regulatory actions. Powell’s comments came shortly after a settlement between Binance and the U.S. Department of Justice, resulting in a $4.3 billion fine for Binance. Jesse Powell Critiques Regulatory Landscape In a recent post on X, Powell expressed his thoughts on the $4.3 billion fine settlement between Binance and the U.S....

The potential resolution of the US criminal investigation into Binance marks a critical juncture for the crypto industry. If Binance agrees to the proposed fine, it would represent one of the largest settlements in the history of the crypto market. The crypto market experienced a surge of cautious optimism as reports emerged regarding the possible resolution of Binance’s longstanding US criminal investigation with the United States Department of Justice (DoJ). Binance’s Reported...

Besides freezing assets, Tether follows strict Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols. Tether, the USDT issuer, has announced the freezing of 225 million in USDT tokens. Globally, USDT has a market cap of $87.7 billion. It also offers dollar exposure to individuals who cannot access the dollar in their own market.  According to Tether, it traced the frozen funds to an international human trafficking ring in Southeast Asia. This move followed a collaboration...

The U.S. Department of Justice (DOJ) has arrested security engineer Shakeeb Ahmed for engaging in the $9 million theft of an unnamed decentralized crypto exchange (DEX). The DOJ Has a Suspect The DOJ alleges Shakeeb created fake pricing data to generate fees through the exchange, which later allowed him to make ongoing withdrawals. He was arrested in mid-July of this year – approximately 12 months after he took part in the attack – following several days of...

CoinspeakerFormer FTX CEO’s Defense Slams DOJ’s Attempt to Revoke Bail The DOJ claims that Bankman-Fried's actions amounted to witness tampering and obstruction of justice and that he should be remanded. Former FTX CEO’s Defense Slams DOJ’s Attempt to Revoke Bail