June 1, 2024

British-Chinese Woman Sentenced to 6 Years for Laundering Bitcoin in $6B Scam

In a high-profile case involving a massive cryptocurrency fraud, a British-Chinese woman, Jian Wen, has been sentenced to six years and eight months in prison for her role in laundering Bitcoin proceeds from a $6 billion investment scam in China. Wen, aged 42, was found guilty in March of laundering Bitcoin on behalf of her...
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Mastercard Crypto Credential Goes Live: Focus on Broader Crypto Adoption with Simplified Transfers

Mastercard has launched its Mastercard Crypto Credential, facilitating the first peer-to-peer (p2p) pilot transactions that simplify and secure blockchain transfers. The latest offering will enable users on the Bit2Me, Lirium, and Mercado Bitcoin exchanges to send and receive cryptocurrency using easy-to-remember aliases instead of cumbersome blockchain addresses. This new capability is designed to enhance transaction...
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Ripple’s XRP Ledger Achieves Record 80 TPS Amid Q1 Inscription Frenzy Without Issues

With the broader market recovery this year, the network activity XRP Ledger (XRPL) also surged across nearly all metrics, with active addresses and transactions increasing by 37% and 113% quarter-over-quarter (QoQ), respectively, according to Messari’s latest report. A significant portion of this activity stemmed from a concentrated group of approximately 45,000 accounts, which collectively sent...
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Hong Kong Orders Immediate Shutdown of Unlicensed Crypto Exchanges

Hong Kong has taken a hard stance against unlicensed cryptocurrency exchanges, issuing a directive for immediate shutdowns. The Securities and Futures Commission (SFC) of Hong Kong has disclosed that eleven platforms, including HKbitEX, PantherTrade, Accumulus, DFX Labs, Bixincom, xWhale, YAX, Bullish, Crypto.com, WhaleFin, and Matrixport HK, are now deemed-to-be-licensed applicants.  Only Crypto.com has secured approval...
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Goat Token Announces Innovative Features and Community Engagement

[PRESS RELEASE – Dover, Delaware/USA, June 1st, 2024] Goat Token (GOAT), developed by Miro Eden (Amr El Adany), introduces a new approach to the cryptocurrency landscape with a focus on transparency, security, and community involvement. Overview of Goat Token Goat Token, available at https://goattoken.io, operates on a secure platform designed to offer transparency and reliability. The...
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Japanese Crypto Exchange DMM Bitcoin Hacked: $305M Worth Bitcoin Drained

Japanese cryptocurrency trading platform – DMM Bitcoin – fell victim to a hack resulting in a massive loss of Bitcoin worth around $305 million on May 31st. The exchange confirmed the attack and revealed that 4,502.9 bitcoins were drained from their systems. DMM Bitcoin has not provided additional details regarding the breach but stated that...
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Mt. Gox Bitcoin Moves Will Cause No Immediate Selling Pressure: CryptoQuant

Analysts from the market intelligence platform CryptoQuant say the recent bitcoin (BTC) moves by the defunct crypto exchange Mt. Gox are no cause for alarm and would cause no immediate selling pressure on the digital asset. According to the latest weekly report from the analytics firm, the transfers were executed between Mt. Gox’s trustee addresses...
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Former Investment Banker Receives 41-Month Sentence for Crypto Fraud

Rashawn Russell, a former investment banker, has been sentenced to 41 months in jail for wire fraud related to a cryptocurrency and access device fraud. Russell’s sentencing took place at the Eastern New York District Court in Brooklyn after his September 2023 guilty plea. Former Banker’s $1.5 Million Crypto Fraud Prosecutors detailed that Russell began...
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