Crypto News

Bybit Hit by Crypto’s Worst Hack With Nearly $1.5B Stolen

Crypto exchange Bybit said it was hacked, resulting in what analysts estimate was the loss of almost $1.5 billion worth of tokens in the biggest theft ever committed in the industry. Researchers believe North Korean hackers were likely responsible. A …

Nigeria Suing Binance for $81.5B in Economic Losses And Back Tax

Nigeria has filed a lawsuit seeking to compel cryptocurrency exchange Binance to pay $79.5 billion for economic losses it says were caused by its operations in the country and $2 billion in back taxes, court documents showed on Wednesday. Authorities …

KuCoin Agrees to Pay Nearly $300 Million on US Crypto Case

KuCoin, one of the world’s largest cryptocurrency exchanges, pleaded guilty on Monday to operating an unlicensed money transmitting business, and agreed to more than $297 million in fines and forfeiture, the U.S. Department of Justice said. Peken Global Ltd, which …

Winklevoss Twins’ Gemini to Pay $5 Million to End CFTC Case

The Winklevoss twins’ Gemini Trust Co. cryptocurrency exchange agreed to pay $5 million to end a Commodity Futures Trading Commission lawsuit claiming it misled the derivatives regulator in a bid to launch the first US-regulated Bitcoin futures contract. The proposed …

Citadel Securities’ Trade Secrets Suit Proceeds Against Portofino

Citadel Securities’ lawsuit accusing Portofino Technologies AG of trade-secrets thefts can largely move forward against the high-frequency crypto-trading startup but not a seed investor in the firm. US District Judge Gregory Woods in Manhattan ruled last week that he lacked …

FTX Cleared to Repay Billions in Settlements After Bankruptcy Plan OK

FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using up to $16.5 billion in assets recovered since the once-leading crypto exchange collapsed. U.S. Bankruptcy Judge John Dorsey approved the wind-down …

Investors in $1 Billion Crypto ‘Skyscraper’ Scheme to Get Repaid in Settlement

Texas and four other states have reached a settlement with operators of an alleged $1 billion illegal cryptocurrency investment scheme highlighted by tokenized partial ownership of a skyscraper, according to the Texas State Securities Board. The regulators are hoping to …

Musk and Tesla Beat Suit Over Promoting Dogecoin ‘Pyramid Scheme’

Elon Musk and Tesla Inc. won dismissal of a lawsuit claiming they pumped up the price of the cryptocurrency Dogecoin into a $258 billion “pyramid scheme.” Investors who lost tens of thousands of dollars investing in the token faulted Musk …

Kraken Must Face SEC Suit Over Crypto Exchange Registration

Cryptocurrency platform Kraken must face a US Securities and Exchange Commission lawsuit accusing it of operating an unregistered securities exchange, a judge ruled. “The SEC has plausibly alleged that at least some of the cryptocurrency transactions that Kraken facilitates on …

U.S. SEC Sues Over Alleged $650M Global Crypto Fraud

The U.S. Securities and Exchange Commission on Monday sued the cryptocurrency company NovaTech and its married co-founders, saying they fraudulently raised over $650 million from more than 200,000 investors worldwide, including many Haitian-Americans. NovaTech and co-founders Cynthia and Eddy Petion …