The collapse of the FTX crypto exchange, which was valued at $32 billion at its peak, could end up affecting far more creditors than earlier estimated, according to a recent filing by the company. In its Chapter 11 bankruptcy filing last week, FTX indicated that it had more than 100,000 creditors with claims in the…
More Than a Million Creditors Could Be Affected by FTX Fallout
November 15, 2022
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Australian Consumer Watchdog Sues Meta for Cryptocurrency Scam Ads
March 18, 2022
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Australia’s consumer watchdog has filed a lawsuit against Facebook’s parent company Meta over cryptocurrency scam ads, which conned AU$100 million (US$73.83 million) from Australians last year. The Australian Competition and Consumer Commission (ACCC) has filed the legal action in the Federal Court of Australia, alleging the tech giant knew scam ads were running on Facebook…
Australian Mining Billionaire Launches Criminal Case Against Facebook
February 3, 2022
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Mining billionaire Andrew Forrest has launched criminal proceedings against social media giant Facebook for breaching Australia’s anti-money laundering laws, and for failing to deal with clickbait advertising for cryptocurrency. Forrest has launched two simultaneous actions, one in the Magistrates Court of Western Australia and the other in the Superior Court of California, County of San…
Massachusetts Man Took Over ‘OG’ Social Media Accounts to Steal Cryptocurrency: Justice Department
A Massachusetts man has pleaded guilty to running a scheme to take over people’s social media accounts and steal hundreds of thousands of dollars in cryptocurrency, the Department of Justice (DOJ) said. Eric Meiggs, 23, of Brockton, admitted that he and one or more co-conspirators used an illegal practice known as “SIM-swapping” to obtain login credentials…
Massachusetts Man Took Over ‘OG’ Social Media Accounts to Steal Cryptocurrency: DOJ
A Massachusetts man has pleaded guilty to running a scheme to take over people’s social media accounts and steal hundreds of thousands of dollars in cryptocurrency, the Department of Justice (DOJ) stated on April 29. Eric Meiggs, 23, of Brockton, admitted that he and one or more co-conspirators used an illegal practice known as “SIM-swapping” to…
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