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Crypto Platform Cubits Begins Insolvency Procedure After Alleged Hack, Locks Users’ Funds

United Kingdom-based cryptocurrency payment platform Cubits has filed for administration following a sudden outage that locked customer funds, a company press release revealed Dec. 11.The act of filing for administration means that an insolvent company has appointed an external administrator in order to act of behalf of its creditors.Cubits, the

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TRON CEO Says He Will ‘Rescue’ ETH and EOS Developers From Alleged ‘Collapse’ of Their Platforms

Decentralized internet protocol TRON CEO Justin Sun has said the company will build a fund to “rescue” Ethereum (ETH) and EOS developers from “the collapse” of their platforms, in a tweet, Dec. 6.Sun made his offer with the precondition that the developers “migrate” their decentralized applications (dApps) to the Tron

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Bitmain, Roger Ver, Kraken Sued for Alleged Bitcoin Cash Hard Fork Manipulation

Florida-based United American Corp. (UnitedCorp) has purportedly filed a lawsuit against Bitmain, Bitcoin.com, Roger Ver, and the Kraken Bitcoin Exchange, according to a press release published Dec. 6. UnitedCorp alleges that the defendants planned a scheme to take control of the Bitcoin Cash (BCH) network.Founded in 1992, UnitedCorp is a

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Cyprus Court Withdraws Money Laundering, Fraud Lawsuit Against Alleged BTC-e Operator

The lawyer for Alexander Vinnik, the alleged former operator of defunct cryptocurrency exchange BTC-e, has said that a district court in Cyprus has withdrawn their lawsuit on charges “of fraud, money laundering and other crimes.” This development was reported by state-operated Russian news agency RIA Novosti Nov. 27.Timofey Musatov, the

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Alleged Bitcoin Launderer Vinnik Announces Hunger Strike to ‘Get a Fair Trial’

The lawyer for Alexander Vinnik, the alleged former operator of defunct cryptocurrency exchange BTC-e, said his defendant will go on a hunger strike this Monday, Russian state-owned news outlet TASS reported Nov. 23.According to Timofey Musatov, the head of the lawyers representing Vinnik, the reason given for the hunger strike

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Further Charges Levelled at Suspects in Alleged Cryptocurrency Investment Scam

Police in the northern Indian city of Chandigarh have filed a chargesheet against four suspects accused of scamming a victim out of ₹6-10 crore ($0.8 - 1.4 million) in a cryptocurrency investment fraud, local English-language broadsheet the Times of India reports Nov. 22. b.The four accused are the main suspect,

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Colorado Securities Regulators Crack Down on Four More ICOs for Alleged Illicit Practices

The Colorado Division of Securities has filed cessation orders against four Initial Coin Offerings (ICOs) allegedly involved in fraudulent and illicit practices, according to an official announcement Nov. 20.Colorado Securities Commissioner Gerald Rome issued the new cease and desist orders following investigations by the Division’s ICO Task Force. Rome has

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21-Year Old American Purported SIM Swapper Arrested for Alleged Theft of $1 Mln in Crypto

Authorities in the U.S. state of California have arrested a 21-year old New Yorker for the alleged theft of $1 million in crypto using “SIM-swapping,” U.S. broadsheet the New York Post reported Nov. 20.SIM-swapping — also known as a “port-out scam” — involves the theft of a cell phone number

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Greek Supreme Court is Violating Alleged Bitcoin Launderer’s Rights, Lawyer Argues

The lawyer representing the alleged former operator of now-defunct crypto exchange BTC-e, Alexander Vinnik, has accused the Greek Supreme Court of “grossly violating” his rights, major Russian state-owned news agency TASS reported Nov. 19.39-year old Russian national Vinnik, a.k.a “Mr. Bitcoin,” was indicted by U.S. authorities and detained in Greece

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Acting AG Backed Alleged ‘Invention-Promotion Scam’ Touting ‘Time Travel’ Crypto

Acting U.S. attorney general (AG) Matthew G. Whitaker has come under fire for his association with an allegedly fraudulent patent company that involved cryptocurrency, U.S. news journal MotherJones reported Nov. 14.Whitaker, a Trump loyalist, was appointed by the U.S. president to replace former attorney general Jeff Sessions Nov. 7.Among other

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