According to a U.S. Department of Justice (DOJ) statement, six people have been charged in cryptocurrency-related fraud cases, including Non-Fungible Token (NFT) scams. DOJ has announced criminal charges against the Baller Ape Club NFT collection’s creator for involvement in the “rug pull” scam. A Vietnamese national, Le Anh Traun, is charged with one count of…
DOJ Files Charges Against ‘Baller Ape Club’ NFT Promoter in Rug-Pull Scam
Crypto’s Comeuppance
July 3, 2022
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Commentary NEW YORK—Bitcoin and associated cryptocurrencies have suffered a precipitous decline from their highs back in November when it was over $60,000. “Bitcoin to the Moon,” a frequent refrain of internet bitcoin advocates less than a year ago, now sounds like the rant of an End of Days prophet traipsing Madison Avenue in a sandwich…
US Commodities Regulator Charges South African Company With Record $1.7 Billion Bitcoin Fraud
WASHINGTON—The U.S. commodities regulator announced on Thursday it had filed civil charges against a South African man and his company for operating a fradulent commodity pool worth over $1.7 billion in bitcoin. The Commodity Futures Trading Commission (CFTC) said the fraud scheme, which saw the firm solicit bitcoin online from thousands of people to purportedly…
US Adds ‘Cryptoqueen’ to Most-Wanted List Over Alleged $4 Billion Fraud
July 1, 2022
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NEW YORK—A German citizen accused of defrauding investors out of $4 billion by selling a fake cryptocurrency called OneCoin has been added to the FBI’s list of its ten most-wanted fugitives, U.S. officials said on Thursday. Ruja Ignatova, also known as “Cryptoqueen,” was charged in 2019 with eight counts including wire fraud and securities fraud…
Blockchain is Risky, Users Need to ‘Trust’ Programmers Won’t ‘Introduce a Bug,’ Warns Pentagon Report
July 1, 2022
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A report commissioned by the Pentagon’s Defense Advanced Research Projects Agency (DARPA) has found that blockchain—the technology behind cryptocurrencies like bitcoin—is not as decentralized as commonly thought, while also being vulnerable to attacks. “The challenge with using a blockchain is that one has to either (a) accept its immutability and trust that its programmers did…
Bitcoin Falls Below $19,000, Further Shaking Crypto Markets
Bitcoin dropped 6.1 percent to $18,866.77 at 2004 GMT on Thursday, putting the biggest and best-known cryptocurrency down $1,226.41 from its previous close and down 60.9 percent from the year’s high of $48,234 on March 28. Several big players in the cryptocurrency markets have had difficulties, and further declines could force other crypto investors to…
Downturn Fears Support Dollar, Aussie Slumps to Two-Year Low
LONDON—Gathering gloom about prospects for the global economy lifted the safe-haven dollar on Friday and pressured risk-sensitive currencies, with the Australian dollar tumbling to a two-year low. Rampant inflation and a rush by central banks to raise rates and stem the flow of cheap money has fuelled sell-offs across markets and lifted assets seen as…
Second Half Starts With a Fresh Drubbing for Stocks
LONDON—The second half of the year started with another first class drubbing for global stock markets on Friday, as the recession concerns that have built in recent weeks also shoved oil and metals lower again. MSCI’s world stocks index has had its worst start to a year since its 1990 creation over the last six…
Euro Drops Against US Dollar Amid Renewed Safe-Haven Demand
LONDON—The euro fell to a two-week low against the U.S. dollar and remained close to a 2015 low versus the Swiss franc amid safe-haven demand on renewed worries about higher rates and a global recession. The Swedish crown trimmed early gains against the euro after briefly jumping on the country’s central bank decision to hike…
Stocks, Oil Edge Up as China Relaxes Quarantine Rules
LONDON—Global shares moved into positive territory on Tuesday while oil prices firmed following China’s decision to ease some quarantine requirements for international arrivals. China slashed the quarantine time for inbound travelers by half in a major easing of one of the world’s strictest COVID-19 curbs, which have deterred travel in and out of the country…
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