Suspected South Korean crypto fraudsters allegedly fooled a wealthy financier into parting with over $4.1 million, the nation’s police force said on March 25. Per Chosun Ilbo, officers in Busan’s Haeundae District arrested a “group of people in their 20s and 30s.” Police think the group “defrauded a financier in his 60s” by convincing him...
Russian crypto industry chiefs have teamed up with business leaders to create a draft bill that could legalize the nation’s booming mining sector. According to ComNews, Alexander Brazhnikov, the Executive Director of the Russian Association of Cryptocurrency and Blockchain (RACIB), spoke about the bill at a crypto-related event on March 22. Russian Crypto Industry: Time...
The US Treasury’s Office of Foreign Assets Control (OFAC) on Monday sanctioned 13 entities and two individuals. They are accused of developing crypto-related services that could facilitate sanctions evasion on behalf of Russian nationals. OFAC’s designations aim to curb Russia’s use of the global financial system in its conflict with Ukraine. Brian Nelson, Under Secretary...
Turkey’s Misyon Bank has announced its partnership with Swiss firm Taurus to leverage its digital asset custody and tokenization technology. The neobank, established just a year ago, aims to position Turkey as a regional center of excellence for custody services and tokenization, according to a report from local media outlet BThaber. Taurus is a renowned player...
The Haeundae Police Station in Busan, South Korea, has caught a pair of fraudsters who stole $4.1 million from a senior citizen with the promise of profitable crypto investments. “If you invest in virtual currency, you will see a 70% return in 4 weeks,” said the two individuals in their 20s and 30s who deceived...
LootRush, a blockchain start-up backed by venture capital firms Paradigm and Andreessen Horowitz (a16z) is announcing a new gaming subscription which allows its users to access non-fungible tokens (NFTs) from over 500 games on its platform from today. San Francisco-based LootRush was launched in May 2022 and is a crypto gaming platform that allows users...
The U.S. has slapped Russia with more sanctions – this time targeting a number of crypto-related entities and individuals due to potential evasions aimed at funding the Putin-led country’s invasion of Ukraine – according to a Monday press release from the Office of Foreign Asset Control (OFAC). U.S. Sanctions 13 Russian Crypto Companies, Two Individuals...
In an exclusive interview with Cryptonews, Gerald Heydenreich, the founder of Web3 email platform EtherMail, talked about his path from Web1 to Web3, the similarities between Web1 and Web3, and reinventing email, which is used by 4.3 billion people globally. The veteran entrepreneur further explained what EtherMail is and why it’s an industry changer. In...
A new report released on Tuesday outlines the recommendations of a technology working group supported by the UK government, which encourages companies to adopt tokenization strategies in collaboration with their industry peers. The United Kingdom’s financial regulator has endorsed a blueprint model designed to facilitate the tokenization of funds for asset management firms. Working Group...
SatoshiLabs, the company behind Trezor hardware crypto wallets, announced on March 21 that the recent compromise of its X (formerly Twitter) account resulted from a phishing scam and not a SIM-swap attack as earlier suspected. The hardware wallet also shared that only its X social media account was compromised and guaranteed the safety of all...