Author: Karly Marie
Indian authorities have arrested Aleksej Besciokov, a cryptocurrency exchange administrator wanted by the United States for alleged money laundering and sanction violations. The Lithuanian citizen and Russian resident was detained in Kerala on Tuesday, according to the Central Bureau of Investigation (CBI). The arrest comes at the request of the US Department of Justice (DOJ), which has accused Besciokov of facilitating cybercrime activities through the Russian cryptocurrency exchange Garantex. Who is Aleksej Besciokov and What is Garantex? Besciokov was allegedly responsible for reviewing and approving transactions on Garantex, a Russian crypto exchange that has been under scrutiny for handling illicit…
White House-appointed ‘Crypto Czar’ David Sacks has responded to speculation surrounding his recent divestment from Bitcoin, Ethereum, and Solana, insisting that it was a requirement under government ethics rules rather than a voluntary move. Sacks, a longtime crypto investor and a vocal advocate for digital assets, took to X (formerly Twitter) to push back against media reports suggesting he “dumped” his holdings before taking office. “Why does the media always want to portray cryptocurrency in the worst light? I did not ‘dump’ my cryptocurrency; I divested it,” Sacks posted on March 19. “Obviously, I would have preferred not to, but…
Institutional investors are showing a strong appetite for cryptocurrency, with 83% planning to increase their allocations in 2025, according to a March 18 report by Coinbase and EY-Parthenon. The survey, which gathered insights from over 350 financial institutions, highlights that nearly three-quarters of firms already hold cryptocurrencies beyond Bitcoin (BTC) and Ethereum (ETH). A significant number of respondents plan to allocate at least 5% of their portfolios to digital assets in the near future. The primary motivation? Institutions believe crypto offers the best opportunity for attractive risk-adjusted returns over the next three years. Altcoins Gain Institutional Favor While Bitcoin and…
Debiex Exposed as a Crypto Romance Scam A US federal court has ruled against Debiex, a fraudulent crypto trading platform, ordering it to pay $2.5 million after being accused of running a “pig butchering” scam—a form of crypto fraud that preys on victims through romantic deception. The Commodity Futures Trading Commission (CFTC) filed the lawsuit in January 2024, alleging that Debiex posed as a legitimate crypto investment platform while actually running a scheme to steal investors’ funds. Court Ruling: Millions Stolen, Money Laundered On March 13, Judge Douglas Rayes of the Arizona federal court granted summary judgment in favor of…
Crypto users are being targeted by a new wave of phishing scams, where fraudulent emails impersonating Coinbase and Gemini urge investors to switch to self-custody wallets by April 1. The emails falsely claim that the exchanges are transitioning customers’ crypto to personal wallets due to a court-mandated ruling. Victims are instructed to: However, these recovery phrases are controlled by scammers, giving them full access to drain the victims’ funds once transferred. Fake Legal Claims Used to Deceive Users The emails exploit recent legal actions against Coinbase and Gemini to appear convincing. Both Coinbase and Gemini have clarified that these claims…
Authorities in Thailand have confiscated 63 cryptocurrency mining machines from abandoned houses in Pathum Thani, uncovering an illegal operation that stole electricity worth over 11 million baht.
François Villeroy de Galhau, Governor of the Banque de France and a European Central Bank (ECB) Governing Council member, has warned that the United States’ growing embrace of cryptocurrency could sow the seeds of a future financial crisis. In an interview with French newspaper La Tribune Dimanche, Villeroy stated that American regulators are being too lax, allowing crypto-assets and non-bank finance to flourish without sufficient oversight. “The United States risks sinning through negligence,” he said. “Financial crises often originate in the U.S. and spread to the rest of the world. By encouraging crypto-assets and non-bank finance, the American administration is…
For the first time, Goldman Sachs has formally acknowledged the rising influence of cryptocurrencies in its 2024 annual shareholder letter. The $3 trillion banking giant noted that blockchain, digital assets, and distributed ledger technology have “increased competition” in the financial industry. Despite maintaining a cautious stance on crypto, Goldman Sachs has steadily expanded its presence in the sector. In late 2024, the firm increased its Bitcoin exchange-traded fund (ETF) holdings by 15%, signaling a growing, albeit measured, interest in digital assets. Goldman Sachs’ Crypto Strategy: A Balancing Act While the bank recognizes the disruptive potential of crypto, it remains wary…
Dogecoin (DOGE) is under increasing pressure as miners have offloaded over 65 million DOGE in the past 48 hours, according to on-chain data shared by analyst Ali Martinez. This significant sell-off coincides with ongoing market volatility, causing DOGE to hover around $0.17 at press time. DOGE’s price has already dropped sharply from its mid-February highs of $0.30, and continued miner selling could push the meme coin to test support near $0.15. Historically, large-scale miner liquidations indicate concerns about profitability and price stability—suggesting that miners may be bracing for a prolonged downturn. Dogecoin’s Decline: A Reflection of the Crypto Market? The…
Hackers breached South African Parliament’s social media accounts to promote a fraudulent $Ramaphosa cryptocurrency token. Blockchain analysis reveals a well-coordinated financial fraud operation.