Alexander Vinnik, co-founder of the infamous BTC-e crypto exchange, has pleaded guilty to laundering a staggering 💰 $9 billion.
BTC-e, operational from 2011 to 2017, was a major platform involved in 🧑💻processing illicit funds linked to cybercrime, corruption, and drug trafficking.
👀 Not registered with U.S. FinCEN and lacking essential KYC and AML protocols, BTC-e was a preferred hub for criminals to conceal their proceeds. Vinnik now faces substantial penalties, reflecting serious U.S. efforts against crypto-related crimes.
🔍Sentencing awaits, with further details from the IRS and Homeland Security.
BTC-e, operational from 2011 to 2017, was a major platform involved in 🧑💻processing illicit funds linked to cybercrime, corruption, and drug trafficking.
👀 Not registered with U.S. FinCEN and lacking essential KYC and AML protocols, BTC-e was a preferred hub for criminals to conceal their proceeds. Vinnik now faces substantial penalties, reflecting serious U.S. efforts against crypto-related crimes.
🔍Sentencing awaits, with further details from the IRS and Homeland Security.
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Bitfinex Hack Update: Hackers vs Company Claims
🔓 Hack Allegations: A group called FSOCIETY claims to have breached Bitfinex, accessing 2.5 TB of data and the personal details of 400,000 exchange users. They threaten to release KYC data unless their demands are met.
🛑 Company's Response: Bitfinex's CTO has declared the leak a hoax. According to him, of the 22,500 emails leaked, only 5,000 match Bitfinex accounts—a far cry from the 100% match expected if the breach were real. Moreover, the company has had no contact with the alleged hackers.
💡 Analyst Insight: Industry experts suggest that FSOCIETY's claims might just be clickbait aimed at selling hacking tools for $299 on Telegram.
🔗 Stay informed, and always verify the sources!
🔓 Hack Allegations: A group called FSOCIETY claims to have breached Bitfinex, accessing 2.5 TB of data and the personal details of 400,000 exchange users. They threaten to release KYC data unless their demands are met.
🛑 Company's Response: Bitfinex's CTO has declared the leak a hoax. According to him, of the 22,500 emails leaked, only 5,000 match Bitfinex accounts—a far cry from the 100% match expected if the breach were real. Moreover, the company has had no contact with the alleged hackers.
💡 Analyst Insight: Industry experts suggest that FSOCIETY's claims might just be clickbait aimed at selling hacking tools for $299 on Telegram.
🔗 Stay informed, and always verify the sources!
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Lawsuit Filed Against Coinbase for Alleged Securities Law Violations
👀 Coinbase customers have initiated a legal action against the exchange, alleging the unauthorized offering of securities.
📝 The lawsuit specifically targets several cryptocurrencies including $ALGO, $MANA, $MATIC, $NEAR, $UNI, $SOL, $XLM, and $XTZ.
😳 The plaintiffs claim they have incurred financial losses from investments in these coins and hold Coinbase responsible for their financial damages.
👀 Coinbase customers have initiated a legal action against the exchange, alleging the unauthorized offering of securities.
📝 The lawsuit specifically targets several cryptocurrencies including $ALGO, $MANA, $MATIC, $NEAR, $UNI, $SOL, $XLM, and $XTZ.
😳 The plaintiffs claim they have incurred financial losses from investments in these coins and hold Coinbase responsible for their financial damages.
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🎆 The Bitcoin network has surpassed 1 billion transactions!
💪 Today, the Bitcoin network reached a milestone by recording its billionth transaction on block 842,241, according Clark Moody data.
✔️ This landmark was achieved 15 years after the launch of BTC.
💪 Today, the Bitcoin network reached a milestone by recording its billionth transaction on block 842,241, according Clark Moody data.
✔️ This landmark was achieved 15 years after the launch of BTC.
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🚨 Cartier Heir Arrested for Drug Trafficking & Money Laundering
🙀 The US Department of Justice has taken into custody Maximilian de Hoop Cartier, a direct descendant of Cartier's founder, Louis Cartier.
🙈 He faces charges of conspiring to launder money through USDT from illegal drug operations.
😁 Alongside five Colombian nationals, he allegedly tried to import 100 kg of cocaine and launder hundreds of millions of dollars.
🚓 Before their arrest, the group successfully laundered $14.5 million.
🙀 The US Department of Justice has taken into custody Maximilian de Hoop Cartier, a direct descendant of Cartier's founder, Louis Cartier.
🙈 He faces charges of conspiring to launder money through USDT from illegal drug operations.
😁 Alongside five Colombian nationals, he allegedly tried to import 100 kg of cocaine and launder hundreds of millions of dollars.
🚓 Before their arrest, the group successfully laundered $14.5 million.
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A wallet that was inactive for over 10 years woke up and transferred all 687 BTC ($43.9 million) to another address.
👀 The user bought the coins on January 12, 2014, when the price was $917 for 1 BTC.
🧐 Interestingly, after that, the price of Bitcoin fell to $200 just a year later, but the owner of the coins did not immediately sell them in the next bull run. 💪This is steel endurance!
👀 The user bought the coins on January 12, 2014, when the price was $917 for 1 BTC.
🧐 Interestingly, after that, the price of Bitcoin fell to $200 just a year later, but the owner of the coins did not immediately sell them in the next bull run. 💪This is steel endurance!
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🚀 New Record in Bitcoin's Ordinals Protocol!
📝 Bitcoin inscription #70,614,708 has just set a new record for file size on the Ordinals protocol, clocking in at 3.969 MB.
✔️ This inscription houses a copy of the "Declaration of Independence in Cyberspace" by Logos Network, showcasing not just its size but its symbolic significance.
👀 Despite its large file size, the actual text would only be about 2 KB. The team opted to encode it as a high-resolution JPG, making it legible and sizable. Brian Laflan, co-founder of OrdinalsBot, shared with Decrypt, "It's a small file, but with the added image, it was enlarged to set a record and make a bold statement."
🤷 This file surpasses the previous record for Bitcoin inscriptions set in March by a mere 0.001 MB.
🧐 Post the 2017 Segregated Witness hard fork, the block capacity in Bitcoin's network was upped from 1 MB to 4 MB. Laflan notes that any attempt to exceed this limit is bound to fail.
📝 Bitcoin inscription #70,614,708 has just set a new record for file size on the Ordinals protocol, clocking in at 3.969 MB.
✔️ This inscription houses a copy of the "Declaration of Independence in Cyberspace" by Logos Network, showcasing not just its size but its symbolic significance.
👀 Despite its large file size, the actual text would only be about 2 KB. The team opted to encode it as a high-resolution JPG, making it legible and sizable. Brian Laflan, co-founder of OrdinalsBot, shared with Decrypt, "It's a small file, but with the added image, it was enlarged to set a record and make a bold statement."
🤷 This file surpasses the previous record for Bitcoin inscriptions set in March by a mere 0.001 MB.
🧐 Post the 2017 Segregated Witness hard fork, the block capacity in Bitcoin's network was upped from 1 MB to 4 MB. Laflan notes that any attempt to exceed this limit is bound to fail.
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Less than 10% of stablecoin transactions are "organic"
👀 Over 90% of the volume of "stable coins" is moved by unreal users, indicating minimal use of cryptocurrencies as a payment method, according to Bloomberg.
✔️ The agency interpreted data from a new indicator by Visa and Allium Labs. The tool identifies transactions made by bots and large traders, separating them from transfers made by real people.
🧐 According to Visa data, in April out of the total transaction volume of $2.2 trillion, only $149 million were "organic payment activity."
👀 Over 90% of the volume of "stable coins" is moved by unreal users, indicating minimal use of cryptocurrencies as a payment method, according to Bloomberg.
✔️ The agency interpreted data from a new indicator by Visa and Allium Labs. The tool identifies transactions made by bots and large traders, separating them from transfers made by real people.
🧐 According to Visa data, in April out of the total transaction volume of $2.2 trillion, only $149 million were "organic payment activity."
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Mainland China to gain access to BTC-ETF in Hong Kong?
Bitcoin ETFs registered in 🇭🇰 Hong Kong may soon become accessible to investors from mainland China. This was stated by the managing partner of SyzCapital, Richard Bayworth:
✔️ Previously, citizens of China directed a large portion of their savings into real estate. However, the real estate market in China is currently experiencing a crisis, and affluent citizens of mainland China feel a pressing need for additional investment opportunities.
Currently a Mutual Recognition of Funds (MRF) agreement between Hong Kong and mainland China, which facilitates the spread of ETFs in each other's markets through a streamlined approval process.
,the expert pointed out.
Bitcoin ETFs registered in 🇭🇰 Hong Kong may soon become accessible to investors from mainland China. This was stated by the managing partner of SyzCapital, Richard Bayworth:
"I just got back from Hong Kong. There is talk that the ETF could be added to stock connect. The implications for this are absolutely enormous"
✔️ Previously, citizens of China directed a large portion of their savings into real estate. However, the real estate market in China is currently experiencing a crisis, and affluent citizens of mainland China feel a pressing need for additional investment opportunities.
Currently a Mutual Recognition of Funds (MRF) agreement between Hong Kong and mainland China, which facilitates the spread of ETFs in each other's markets through a streamlined approval process.
"Excluding only the Bitcoin ETF would likely cause significant repercussions among both institutional and retail investors in both China and Hong Kong"
,the expert pointed out.
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🔥 Robinhood has received a Wells notice from the SEC
🏹 Robinhood received a Wells notice from the Securities and Exchange Commission (SEC) regarding its crypto business.
The notice was sent on May 4, 2024.
🗒 The Wells notice indicates that the SEC is prepared to sue the company.
Previously, Wells notices were sent to Coinbase, Uniswap, and Consensys.
🏹 Robinhood received a Wells notice from the Securities and Exchange Commission (SEC) regarding its crypto business.
The notice was sent on May 4, 2024.
🗒 The Wells notice indicates that the SEC is prepared to sue the company.
Previously, Wells notices were sent to Coinbase, Uniswap, and Consensys.
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Arbitrum's total transaction volume on Uniswap exceeds $150 billion
👀 The Ethereum Layer 2 protocol Arbitrum has exceeded $150 billion in transaction volume on the decentralized exchange Uniswap, marking it as the first Layer 2 to reach this milestone on the DEX, according to a social media post by Uniswap Labs on Monday.
✔️ Blockchain analytics platform DeFiLlama indicates that Arbitrum's total value locked (TVL) stands at $2.64 billion, positioning it as the largest Layer 2 by TVL and the fifth largest overall protocol by TVL, trailing behind Solana, BSC, Tron, and Ethereum Layer 1.
👀 The Ethereum Layer 2 protocol Arbitrum has exceeded $150 billion in transaction volume on the decentralized exchange Uniswap, marking it as the first Layer 2 to reach this milestone on the DEX, according to a social media post by Uniswap Labs on Monday.
✔️ Blockchain analytics platform DeFiLlama indicates that Arbitrum's total value locked (TVL) stands at $2.64 billion, positioning it as the largest Layer 2 by TVL and the fifth largest overall protocol by TVL, trailing behind Solana, BSC, Tron, and Ethereum Layer 1.
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🚀 Ethereum network saw the creation of 196.71 thousand new addresses, on May 4, 2024, marking the largest single-day increase since October 8, 2022, according to Santiment.
Analysts believe this should be viewed as a sign of a 🐂 bullish market.
Analysts believe this should be viewed as a sign of a 🐂 bullish market.
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MetaMask has introduced "smart transactions" to protect against MEV bots.
🦊 The feature, called Smart Transactions, will allow the use of a "virtual mempool" to place transactions before they enter the blockchain.
👀 It is expected that this solution will protect against certain MEV strategies using bots. The option will also provide instant preliminary transaction modeling, which will help reduce gas costs.
☑️ Smart Transactions are not enabled by default—users decide whether to activate the feature themselves.
🦊 The feature, called Smart Transactions, will allow the use of a "virtual mempool" to place transactions before they enter the blockchain.
👀 It is expected that this solution will protect against certain MEV strategies using bots. The option will also provide instant preliminary transaction modeling, which will help reduce gas costs.
☑️ Smart Transactions are not enabled by default—users decide whether to activate the feature themselves.
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Poloniex hacker moves funds for the first time
On May 7, 🧐 the hacker responsible for last year's breach of the cryptocurrency exchange Poloniex transferred 100 ETH (about $308,000) to the 🌪 Tornado Cash mixer.
👀 This is the first instance of the hacker attempting to launder the assets stolen on November 10, 2023. At that time, Poloniex lost nearly $125 million in cryptocurrencies due to the attack.
✔️ Tornado Cash co-founders Roman Storm and Roman Semenov are still under investigation for allegedly facilitating money laundering by criminals and sanctioned individuals.
On May 7, 🧐 the hacker responsible for last year's breach of the cryptocurrency exchange Poloniex transferred 100 ETH (about $308,000) to the 🌪 Tornado Cash mixer.
👀 This is the first instance of the hacker attempting to launder the assets stolen on November 10, 2023. At that time, Poloniex lost nearly $125 million in cryptocurrencies due to the attack.
✔️ Tornado Cash co-founders Roman Storm and Roman Semenov are still under investigation for allegedly facilitating money laundering by criminals and sanctioned individuals.
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Revolut launches cryptocurrency exchange platform
🔥 Revolut has unveiled Revolut X, a standalone cryptocurrency platform tailored for experienced traders. This new offering enhances user experience with streamlined fund transfers, low trading fees, and an initial 0% fee for makers and 0.09% for takers, regardless of trade volume.
🚀 At launch, Revolut X provides access to over 100 tokens, starting with the digital assets available in its retail app, such as Bitcoin, Ethereum, and XRP, with plans to expand this offering in the near future.
✔️ The service is currently available to UK users who have a retail account with the app, allowing them to use their existing login credentials. Users can exchange fiat currency for cryptocurrencies and vice versa between Revolut X and the main Revolut platform freely and without additional fees.
🌐 Aiming to challenge the top players in the cryptocurrency exchange market, Revolut now serves over 40 million users globally.
🔥 Revolut has unveiled Revolut X, a standalone cryptocurrency platform tailored for experienced traders. This new offering enhances user experience with streamlined fund transfers, low trading fees, and an initial 0% fee for makers and 0.09% for takers, regardless of trade volume.
🚀 At launch, Revolut X provides access to over 100 tokens, starting with the digital assets available in its retail app, such as Bitcoin, Ethereum, and XRP, with plans to expand this offering in the near future.
✔️ The service is currently available to UK users who have a retail account with the app, allowing them to use their existing login credentials. Users can exchange fiat currency for cryptocurrencies and vice versa between Revolut X and the main Revolut platform freely and without additional fees.
🌐 Aiming to challenge the top players in the cryptocurrency exchange market, Revolut now serves over 40 million users globally.
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The CFTC has announced more regulatory actions against crypto projects.
🇺🇸 US CFTC Chairman Rostin Behnam predicts a surge in regulatory enforcement within the next 6-24 months due to the growing crypto market and the current uncertain regulatory climate. 👀He emphasizes the need for Congress to act, especially regarding stablecoin regulation, but notes the challenges in passing legislation.
✔️ Meanwhile, Robinhood and Consensys have received Wells notices from the SEC, indicating possible enforcement actions related to their crypto operations. This points to heightened regulatory scrutiny as agencies like the SEC and CFTC navigate their roles in overseeing the crypto space.🧐
🇺🇸 US CFTC Chairman Rostin Behnam predicts a surge in regulatory enforcement within the next 6-24 months due to the growing crypto market and the current uncertain regulatory climate. 👀He emphasizes the need for Congress to act, especially regarding stablecoin regulation, but notes the challenges in passing legislation.
✔️ Meanwhile, Robinhood and Consensys have received Wells notices from the SEC, indicating possible enforcement actions related to their crypto operations. This points to heightened regulatory scrutiny as agencies like the SEC and CFTC navigate their roles in overseeing the crypto space.🧐
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The SEC has postponed the decision on the spot Ethereum ETF from Invesco and Galaxy, and inflows into Bitcoin ETFs in the USA have continued for the second consecutive day.
🇺🇸 The U.S. Securities and Exchange Commission (SEC) has extended the review period for an application to launch a spot Ethereum ETF by Invesco and Galaxy, as reported on the agency's website.
👀 The next deadline is July 5, 2024.
✔️ On April 23, the SEC postponed the decision on a spot Ethereum-ETF by Franklin Templeton with a deadline set for June 11. Previously, the regulator extended the review period for a similar application from BlackRock.
In May, the final deadlines for proposals from VanEck and Grayscale are due.
👍 Meanwhile, inflows into spot Bitcoin ETFs continued for the second consecutive day, amounting to $217 million.
🇺🇸 The U.S. Securities and Exchange Commission (SEC) has extended the review period for an application to launch a spot Ethereum ETF by Invesco and Galaxy, as reported on the agency's website.
👀 The next deadline is July 5, 2024.
✔️ On April 23, the SEC postponed the decision on a spot Ethereum-ETF by Franklin Templeton with a deadline set for June 11. Previously, the regulator extended the review period for a similar application from BlackRock.
In May, the final deadlines for proposals from VanEck and Grayscale are due.
👍 Meanwhile, inflows into spot Bitcoin ETFs continued for the second consecutive day, amounting to $217 million.
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FTX plans to return users their funds plus compensation.
😎 FTX has proposed a new reorganization plan, under which 98% of its creditors will receive 118% of their funds.
The remaining creditors will receive 100% refund plus 9% compensation for ⏳ "time value of investments."
👀 This plan must be approved by the court. If approved, the funds will be distributed to users within 60 days.
After the sale of all assets, the exchange will have up to $16.3 billion, and FTX owes clients about $11 billion.
😎 FTX has proposed a new reorganization plan, under which 98% of its creditors will receive 118% of their funds.
The remaining creditors will receive 100% refund plus 9% compensation for ⏳ "time value of investments."
👀 This plan must be approved by the court. If approved, the funds will be distributed to users within 60 days.
After the sale of all assets, the exchange will have up to $16.3 billion, and FTX owes clients about $11 billion.
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LocalMonero has announced its closure
😳 The LocalMonero platform has announced its closure after seven years of operation.
The platform will cease operations on May 14th.
LocalMonero is the largest P2P platform for Monero users.
😳 The LocalMonero platform has announced its closure after seven years of operation.
The platform will cease operations on May 14th.
LocalMonero is the largest P2P platform for Monero users.
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