Crypto Crime

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Do Kwon Allegedly Launders $80 Million in a Month, SEC Court Investigates Terra’s Downfall

The US Securities and Exchange Commission is now investigating whether the Terra (UST) was marketed in a fraudulent way before it caused a market-wide crash and declined to pennies on the dollar.

According to JTBC News, the SEC is also looking into money laundering allegations. Apparently, around 100 billion won left Terraform Labs’ accounts monthly as operating expenses. That sums up to about $80 million being laundered in a month just before Luna’s collapse. According to the SEC, there were internal statements documenting the money being sent “into dozens of cryptocurrency wallets.”

https://dailycoin.com/do-kwon-allegedly ... -downfall/

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https://web3isgoinggreat.com/?id=terra- ... -binanceus

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Crypto Leaks Launches Platform That Reveals Scams and Corruption in the Crypto Space

Crypto Leaks aim to help crypto investors, by revealing wrongdoing, and showing people how corruption, and subtle behind-the-scenes manipulations, should make you think twice about everything you read and hear. Visit crypto leaks.info – read, share, learn, contribute. As diehard blockchain enthusiasts, we will contribute to the task of nudging our industry towards a brighter, more honest future

Contacts

CryptoLeaks Team
whistleblower@cryptoleaks.info
6162582237

https://cryptonews.com/news/crypto-leak ... -space.htm

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https://web3isgoinggreat.com/?id=blockf ... securities

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https://web3isgoinggreat.com/?id=8-bloc ... oes-silent

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FBI says fraud on LinkedIn a ‘significant threat’ to platform and consumers

Fraudsters who exploit LinkedIn to lure users into cryptocurrency investment schemes pose a “significant threat” to the platform and consumers, according to Sean Ragan, the FBI’s special agent in charge of the San Francisco and Sacramento, California, field offices.

“It’s a significant threat,” Ragan said in an exclusive interview. “This type of fraudulent activity is significant, and there are many potential victims, and there are many past and current victims.”

https://www.cnbc.com/2022/06/17/fbi-say ... umers.html

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Lawsuit Against Coinbase: The Exchange Faces Legal Trouble For Listing TerraUSD!

On Thursday, a class-action lawsuit was launched against Coinbase (NASDAQ: COIN), alleging negligence in the trading platform’s listing of the TerraUSD stablecoin and failure to disclose its financial relationship with Terraform Labs.

This is the second class-action lawsuit against Coinbase that has been filed. Last month, a lawsuit was filed in connection with GYEN’s de-pegging in November.

https://coinpedia.org/news/coinbase-fac ... -terrausd/

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Terraform Labs, Founder, VC Firms Sued on Claims That Investors Were Misled

An Illinois resident sued Terraform Labs, its founder Do Kwon and several VC firms that make up the Luna Foundation Guard (LFG) on claims that that the defendants violated federal securities laws and misled investors.

The plaintiff, Nick Patterson, filed a lawsuit seeking class action status on Friday in the Northern District of California in the hopes of recouping losses and any injunctive or punitive fees from a jury trial.

Patterson alleged both California state and federal law violations against the defendants.

https://www.coindesk.com/business/2022/ ... re-misled/

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https://web3isgoinggreat.com/?id=south- ... he-country

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Michael Saylor Urges Regulators to Tame Crypto

During a recent webcast appearance, MicroStrategy CEO Michael Saylor criticized unregulated banks and investment companies that are trading unregistered securities.

Saylor believes that such "wildcat" banks are a "liability" to Bitcoin.

Saylor slammed Tether (USDT), claiming that it is an unregistered security "without any transparency." The "never-ending Tether FUD" about whether or not the company is actually solvent will never stop, he warns.

https://cryptonews.net/news/regulation/8486323/

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Ontario regulator fines Bybit and bars Kucoin in continued fight against unregistered crypto exchanges

The move is part of a string of actions the OSC has taken against crypto exchanges following a decision from the national Canadian Securities Administrators early in 2021 to treat custodial exchanges as securities exchanges regardless of whether the cryptocurrencies are themselves securities. The first such enforcement action was against Poloniex.

https://www.theblock.co/linked/153686/o ... -exchanges

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Voyager Digital Plummets 60% After Revealing $661M Exposure To 3AC

Voyager Digital today announced it may issue a "notice of default" to the struggling crypto investment firm Three Arrows Capital (3AC) if it fails to make a loan repayment.

Shares in the New York-based crypto platform plunged by more than 60% after it revealed that its exposure to 3AC comprises 15,250 BTC (approximately $311 million at current prices) and $350 million in USDC.

https://decrypt.co/103535/voyager-digit ... ure-to-3ac

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Voyager Digital reduces withdrawal limit after reporting $660 million exposure to Three Arrows Capital

https://web3isgoinggreat.com/?id=voyage ... awal-limit

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LEAKED LOAN AGREEMENT BETWEEN ALAMEDA & VOYAGER SHOWS "BAILOUT" MORE A GIMMICK THAN A LIFELINE

https://twitter.com/otteroooo/status/15 ... 9443316737

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https://web3isgoinggreat.com/?id=coinfl ... unterparty

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$100 million worth of crypto has been stolen in another major hack

Hackers have stolen $100 million in cryptocurrency from Horizon, a so-called blockchain bridge developed by crypto start-up Harmony.

Bridges allow users to transfer tokens from one blockchain to another. They’ve become a prime target for hackers due to vulnerabilities in their underlying code.

It follows a series of similar attacks on blockchain bridges, including the $600 million Ronin Network heist and the $320 million stolen from Wormhole.

https://www.cnbc.com/2022/06/24/hackers ... ridge.html

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The Next LUNA Ponzi Scheme



https://www.youtube.com/watch?v=drzrWUn9JQo

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Crypto hedge fund at center of crisis faces risk of default as deadline to repay $670 million nears

Three Arrows Capital, a crypto-focused hedge fund, has to meet a deadline on Monday to repay more than $670 million in loans to Voyager Digital or face default.

Voyager said that it “intends to pursue recovery from 3AC” and is talking to its advisors “regarding legal remedies available.”

https://www.cnbc.com/2022/06/27/three-a ... fault.html

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https://web3isgoinggreat.com/?id=hacker ... verse-bank

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Multiple Crypto Exchanges Are “Secretly Insolvent,” Warns SBF

FTX CEO Sam Bankman-Fried (SBF) recently shared his thoughts on the state of the crypto market, its trajectory, and the platforms and companies within it. He claimed that there are still many remaining “third-tier” crypto exchanges that are insolvent but yet to be exposed.

https://coindesk.cc/multiple-crypto-exc ... 08300.html