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DOJ Charges 12 With $263M Crypto Theft Linked to Genesis Creditor

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U.S. Department of Justice (DOJ) has charged 12 individuals for stealing over $263 million in crypto. The individuals are linked to an earlier investigation where scammers were able to siphon off over $243 million from a Genesis creditor.

According to blockchain sleuth ZachXBT, last year one of the creditor of defunct trading firm Genesis was spoofed by a group of scammers, who were able to steal $243 million worth of digital assets and then redirect it through crypto mixers.

Several of the individuals charged, which includes U.S. nationals and foreign, were arrested in California this week, the DOJ said in a press release on Thursday. The remaining two individuals live abroad.

The charges on the individuals range from racketeering, wire fraud to money laundering, and obstruction of justice.

Read more: Police Arrest Two People Related to $243M Crypto Heist Targeting Genesis Creditor

Social engineering scams are being increasingly used by scammers to steal crypto. Scammers obtain certain personal information and then trick the user into sending them their crypto.

On Thursday, Coinbase revealed that scammers were able to bribe some of their overseas employees and stole important user data from their database. The exchange expects to voluntarily pay users between $180 million to $400 million for the data breach.

Read more: Coinbase Could Pay Customers Up to $400M for Data Breach

U.S. Department of Justice (DOJ) has charged 12 additional individuals in a racketeering conspiracy involving over $263 million in crypto fraud, money laundering, and home break-ins. The individuals are linked to an earlier investigation where scammers were able to siphon off over $243 million from a Genesis creditor. According to blockchain sleuth ZachXBT, last year one of the creditor of defunct trading firm Genesis was spoofed by a group of scammers, who were able to steal $243 million worth of digital assets and then redirect it through crypto mixers. Several of the individuals charged, which includes U.S. nationals and foreign, were arrested in California this week, the DOJ said in a press release on Thursday. The remaining two individuals live abroad. Social engineering scams are being increasingly used by scammers to steal crypto. Scammers obtain certain personal information and then trick the user into sending them their crypto. On Thursday, Coinbase revealed that scammers were able to bribe some of their overseas employees and stole important user data from their database. The exchange expects to voluntarily pay users between $180 million to $400 million for the data breach.

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French Minister Agrees on Measures to Protect Crypto Professionals After Kidnappings

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French Minister of the Interior Bruno Retailleau agreed on a series of measures to tighten the security of crypto professionals at a Friday meeting following a number of kidnappings that have targeted industry figures in the country.

Measures including strengthening collaboration with internal security officers to protect professionals, a security briefing provided by police units and training to prevent crypto money laundering were discussed at the meeting. The Director General of the National Police and Gendarmerie and representatives from the Association for the Development of Digital Assets (ADAN) took part alongside other industry stakeholders.

The meeting was held after Tuesday’s failed kidnapping attempt on the daughter and grandson of a crypto exchange CEO, the third that’s received widespread coverage since the start of the year. In May the father of a French crypto millionaire was kidnapped, the BBC reported. And earlier in the year David Ballard, a co-founder of crypto-wallet developer Ledger was kidnapped alongside his wife. Both of the men had a finger severed.

«I wanted to reiterate my shock at the seriousness of the criminal acts that were committed and my determination to put an end to these unbearable attacks targeting crypto-asset professionals, just as they attacked banks and jewelry stores yesterday,» Retailleau said.

Read more: Crypto Exchange CEO’s Daughter, Grandson Targeted in Paris Kidnap Attempt

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Trump-tied World Liberty Financial Rebuffs U.S. Senator’s Probe

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World Liberty Financial, the crypto business tied to President Donald Trump and his family, is pushing back against scrutiny from U.S. Senator Richard Blumenthal, the leading Democrat on a panel responsible for investigating corruption and mismanagement.

«WLFI is not operating in the shadows,» according to a letter the company’s lawyers sent to the Connecticut senator. «It is building a next-generation, auditable financial infrastructure rooted in American trust, rule of law and economic leadership.»

Blumenthal had targeted his own letter at co-founder Zach Witkoff — set to appear alongside fellow co-founder Zak Folkman and Eric Trump at Consensus 2025 in Toronto on Friday — and asked about the ownership and investment structure for Trump-affiliated entities, including WLFI and Fight Fight Fight LLC, the company behind the TRUMP memecoin. Since he’s not in the majority party, Blumenthal’s probe doesn’t carry the full force of the Senate’s Permanent Subcommittee on Investigations, a panel housed within the Committee on Homeland Security and Government Affairs.

The WLFI response said Blumenthal’s request «contains inaccuracies and fundamental flawed inferences that we will not address in full,» but the lawyers offered the example that WLFI has no affiliation with Fight, Fight, Fight LLC.

«The company rejects the false choice between innovation and oversight,» the letter said. «What it opposes is the misuse of regulatory authority and uncertainty to suppress lawful innovation.»

The president’s son, Eric, who is listed as a Web3 ambassador on the WLFI website alongside his father, the «chief crypto advocate,» also appeared at Consensus 2025 on Thursday to explain how he entered crypto and why he launched a mining firm set to go public via a merger.

«We have come to love the crypto community, and I think the crypto community has really come to love us,» he told a crowded house in Toronto. «We’re so proud to be a big part of it.»

The Trump family’s crypto ties have also been raised by Senate Democrats objecting to digital assets legislation working its way through Congress. Even so, a stablecoin regulation bill is expected to come up for a key vote next week.

Read More: Eric Trump Says He Got Into Crypto Amid Political Attack, Calls Bitcoin ‘Digital Gold’

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Could Wellness Be an Onramp to Web3? Moonwalk Fitness’ Caitlin Cook Thinks So

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There’s no shortage of crypto projects that have been touted as the thing that will onboard the next billion users to Web3, but Moonwalk Fitness has a slightly different approach — wellness.

The fitness accountability app, which launched for iOS and Android earlier this year, essentially offers users a way to bet on whether they’ll meet their fitness goals — for now, that’s daily steps, but Moonwalk Fitness’ Director of Growth Caitlin Cook — speaking with CoinDesk ahead of Consensus 2025 in Toronto — that the project hopes to add different types of in-app fitness challenges and metrics beyond step count.

In its current form, Moonwalk Fitness presents users with a variety of games to choose from, varying in duration, step-count, and buy-in price. Users have to pay a fee (in USDC, BONK, or SOL) to join the game. If they hit their daily step goals, they get all their money back – plus the opportunity to split a prize pool, created from the deposits of users who didn’t meet their step goals. In this way, Moonwalk Fitness offers users both a carrot — the potential to make money — and a stick — the potential to lose money — in their fitness journeys.

Read more: How to Make or Lose Hundreds of Dollars Betting Crypto on Your Fitness Goals

Cook said users all around the world are finding their way to Moonwalk Fitness , adding that she was particularly bullish on markets like Southeast Asia and Africa. Because users can create their own games, setting their own buy-in prices, there is no financial barrier to entry.

“What’s enough for someone to actually perform the action is different depending on where you are,” Cook said. “So we have games where [the buy-in] is a very tiny amount of BONK, where maybe it’s a couple dollars in USDC, and people are eating it up,” Cook said. “Becasue instead of gatekeeping it, where it’s like, ‘oh, you need X amount of money to join, we’re opening it up to everyone.”

The project’s four biggest markets are currently France, the U.S., Nigeria and Vietnam, Cook said.

“I think a lot of crypto builders generally tend to focus on the same markets where it’s like the more affluent people who get to deploy capital,” Cook said. “If you have legs that work, you can use this product. The total addressable market is quite large.”

Seeing the growing adoption of Moonwalk Fitness around the world has been exciting, Cook said.

“Opening our Twitter every day is incredible, because it’s like, I’ll see a group of Venezuelan grandmas going for a walk together, posing for a picture, which is so cool,” she said. “We just had people do a meet up in Turkey that we did not organize. It was just like a group thing where they just decided to go out and walk. The appeal is very broad.”

Even for people who are already active, Cook said the ability to make money from something they’re already doing makes Moonwalk Fitness appealing.

“We see that in Nigeria, for example, they’re walking so much, and they’re like, ‘Oh, my God, I can make money from something I’m doing already.’ And it’s like, yes, you can. It’s a fun way to make something that’s ordinary a little bit more gamified in a super simple way.”

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