When one thinks of cryptocurrencies and criminal behaviour, the name Sam Bankman-Fried, once the boy-wonder of the crypto world, instantly springs to mind. In December 2022, the alleged perpetrator of “one of the biggest financial frauds in US history” was extradited to the US. Later this year, the 31-year-old, currentlyContinue Reading
Australians could be in line to save millions of dollars, with an Australian bank launching its first scam protection trial targeting illusive cryptocurrencies. Westpac hopes the venture, which it says will protect customers from some cryptocurrency payments, will reduce “devastating” losses from scams. Investment scams currently account for about halfContinue Reading
Suspected cryptocurrency fraudster Do Kwon has been arrested after almost a year on the run. The South Korean national was arrested in Montenegro, in southeastern Europe, while at an airport in the country’s capital, where he was found with “falsified documents”, The Guardian reported. “Montenegrin police have detained a personContinue Reading
An Australian man is devastated after losing an eye-watering $102,000 from the sensational collapse of cryptocurrency exchange FTX – even though he didn’t even invest a single dollar with the company. Danny*, who asked for his last name to be withheld, invested money with Australian crypto platform Digital Surge. Unfortunately,Continue Reading
A US bank has been forced to sell off assets and cut staff after it saw $US8 billion ($A11.6 billion) worth of cryptocurrency withdrawn by customers. Silvergate, a bank which offers cryptocurrency services, revealed it had seen the huge amount of cryptocurrency taken out in just three months at theContinue Reading
A $1.5 billion merger between two Australian investing apps that was set to create a powerhouse that would allow cryptocurrencies, shares, and superannuation to be managed in the one place has seen the deal collapse. Brisbane-based crypto exchange Swyftx and online broker and superannuation platform Superhero announced the move wouldContinue Reading
The ex-girlfriend of disgraced crypto mogul Sam Bankman-Fried and a co-founder of FTX pleaded guilty to fraud charges in the collapse of the cryptocurrency exchange and are both co-operating with federal prosecutors. Caroline Ellison, the former CEO of Mr Bankman-Fried’s crypto hedge fund company Alameda Research, and Gary Wang, aContinue Reading
The Australian arm of cryptocurrency exchange Binance has been slapped with a $2 million fine after it unleashed millions of emails that were difficult to unsubscribe from or sent without consumer’s consent. It comes as jittery crypto investors have rushed to withdraw billions of dollars from Binance due to mountingContinue Reading
Jittery crypto investors have rushed to withdraw billions of dollars from Binance as fears mount over the platform’s financial health and reports of possible criminal charges. The world’s largest cryptocurrency exchange said on Tuesday it had “temporarily paused” withdrawals of the USDC stablecoin while it completed a token swap involvingContinue Reading
Australian cryptocurrency exchange Digital Surge has collapsed into administration, with its 30,000 Aussie customers unable to trade or withdraw money. The trading platform, set up in 2017, allowed customers to access more than 300 different digital currencies before its collapse. KordaMentha Restructuring has been appointed as administrators and is workingContinue Reading