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Nigerian authorities have sued cryptocurrency exchange Binance for more than $79 billion in financial losses and $2 billion in back taxes. The amount is almost 19 times the $4.30 billion fine Binance paid after pleading guilty to violating U.S. banking laws in 2023. The Nigerian tax authority, the Federal Revenue Service (FIRS), also claimed that Binance was operating illegally within the country, the report said.
Indian authorities have seized nearly $190 million in cryptocurrency linked to Bitconnect in an ongoing investigation into a crypto Ponzi scheme that busted in 2018, resulting in losses of around $2.40 billion to 4,000 investors in 95 countries. Bitconnect, which launched in 2016, collapsed in 2018. It is reported that Bitconnect founder Satish Kumbhani (who was charged by the Department of Justice in February 2022) established a global network of promoters, paying them commissions to promote Po...
South Korea's acting president, Choe Sang-mu, said on Friday that authorities will communicate with market participants and prepare to lift the ban on selling short stocks imposed in November 2023 by the end of the quarter as planned. Authorities will closely monitor financial marekt, citing high uncertainty over U.S. trade policy and global geopolitical factors.
On January 19, the Korean authorities found that Upbit had more than 500,000 KYC violations, and the fine could be as high as 34.30 billion US dollars. Previously, the Korean financial authorities informed Upbit that it would face suspension for rectification.
Thailand's cybercrime authority plans to propose banning decentralized prediction marketplace Polymarket because it could be considered an online gambling site, which is considered illegal in the country. Thailand's Cybercrime Investigation Bureau said the suspension of Polymarket is essential to prevent the public from becoming victims of online gambling and to stop the use of cryptocurrencies for illegal activities, which "can have serious economic and social impacts". Cyberpolice said the web...
Kazakh watchdog AFM RK has announced that authorities have blocked more than 3,500 cryptocurrency exchanges operating illegally. The action is the result of a joint effort by the National Security Council and the Ministry of Cultural Information. Previously, authorities also blocked access to Coinbase in 2023 for suspected violations of digital asset laws. In 2024, the regulator liquidated 36 illegal cryptocurrency exchanges with a total transaction value of 60 billion Kazakh tenge (about $113 m...
On January 1 local time, a car rammed into pedestrians in New Orleans, Louisiana, USA. Local police sources said that the incident has killed 10 people and injured 30 others. Authorities in New Orleans, USA said that the car crash was a terrorist attack. The city of New Orleans suffered from the impact of the terrorist attack. The driver of the pickup truck was driving at an extremely fast speed. This was a very deliberate move. He tried to hit as many people as possible.
The French financial marekt authority (AMF) has reported that cryptocurrency-related scams are the main cause of victims losing around 500 million euros a year. The French authorities are working with the Paris prosecutor's office, the Audit and Resolution Supervisory Authority (ACPR), and the Directorate General of Anti-Fraud, Consumption and Fraud Suppression (DGCCRF) to step up efforts to combat these frauds. The data shows that men under 35 are particularly vulnerable. They are eager for qui...
South Korea's financial authorities said on Friday that they would ease foreign exchange controls to improve liquidity conditions in the foreign exchange market.
Moroccan authorities have arrested and detained five people suspected of involvement in cryptocurrency scams. Police have also recovered some of the funds allegedly linked to the scheme, as well as mobile devices used in the crime. The unnamed suspects, aged between 24 and 48, are accused of sending phishing emails to foreign nationals with the aim of obtaining funds from the victims' cryptocurrency wallets. The stolen funds were then allegedly used for personal purposes. Moroccan authorities re...
