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SEC Charges BitClout Founder with $257 Million Crypto Fraud
The U.S. Securities and Exchange Commission (SEC) has filed charges against Nader Al-Naji. Al-Naji is the founder of the social media platform BitClout. The SEC accused Al-Naji of allegedly running a fraudulent cryptocurrency scheme. The regulator also claims that Al-Naji raised over $257 million through illegal sales of the platform's BTCLT tokens. Key allegations from......
Ethereum Remains Most Targeted Chain as Crypto Hackers Steal $572M in Q2
According to the latest report by Immunefi, losses due to crypto hacks and fraudulent activities rose during the second quarter of 2024. As per the data, total losses amount to a staggering $572.7 million in Q2 2024. This figure represents a 112% increase compared to the same period in 2023. Key points: Hacks accounted for......
Crypto Funds See Muted $254M Inflows, but There’s a Catch
According to the latest report from CoinShares, the crypto sector has seen a muted $254 million inflow of capital even though the market turned bullish. Key points: Total inflows into digital asset investment products reach $20.5 billion year-to-date. The inflows show a mixed picture for various cryptocurrencies. Trading volumes spiked to the highest levels since May.......
HSBC Australia Halts Crypto Exchange Payments Following $171M Scam
According to the latest details that surfaced, HSBC's Australian wing has sent an email to its customers saying that it will begin blocking payments to crypto exchanges. The bank had stated in the mail that it would begin on July 24. As per the report from Finance Magnets, the primary reason for the move is......
🥛 Top 3 crypto founders reshaping our future 🧑💼
Today’s edition is brought to you by Agoric – a web3 native, on-chain orchestration platform for chain abstracted applications.Innovate your applications with Agoric.GM. This is Milk Road, your daily dose of reliable crypto news—because unlike Windows computers, we never crash! 🟦 Here’s what we got for you today:✍️ Top 3 crypto founders💰 Funding Friday: Special edition🎙️......
🥛 Double your crypto? Sanctum tries a new airdrop strategy 🪂
GM. This is Milk Road, the crypto newsletter that’s more refreshing than jumping into a pool on a scorching summer day.Here’s what we got for you today:✍️ Top 3 index tokens✍️ Sanctum drops new airdrop meta🥛 PRO portfolio updates🎙️ The Milk Road Show: Blackrock CEO Larry Fink "Bitcoin is Legit" + ETH ETF Launch Date......
Indian Crypto Exchange WazirX Reportedly Hacked: $230M Stolen
The Indian cryptocurrency exchange WazirX has reportedly fallen victim to a hack. According to the details from the security platform Cyvers, multiple suspicious transactions were identified. The suspicious transactions involved their multisig wallet on the Ethereum network. Key points: Indian crypto exchange WazirX reportedly hacked. Cyvers identified multiple suspicious transactions from its multisig wallet. A......
Cardano Co-Founder: Vote for Biden Is a Vote for Death of US Crypto Industry
Cardano co-founder Charles Hoskinson has put out a tweet in response to Vitalik Buterin's thoughts on pro-crypto candidates. Hoskinson's view was quite opposite to that of Vitalik, who released a blog post against choosing your political allegiances based on who is pro-crypto. Key points: Vitalik Buterin released a blog post against choosing pro-crypto political leaders.......
Chainalysis Highlights Rising Usage Of Crypto For Money Laundering
A recent report by blockchain analytics firm Chainalysis sheds light on the growing use of crypto in money laundering operations. Key points: Nearly $100 billion in illicit funds transferred to conversion services since 2019. Record $30 billion in laundered funds identified in 2022 Crypto mixers, cross-chain bridges, and wallet "hops" are common laundering techniques The......
Hong Kong Crypto Scam Bust: Police Seize Nearly 11,000 Counterfeit Banknotes
Hong Kong authorities have uncovered a scam involving millions in crypto and thousands of fake banknotes. Key points: Three suspects were arrested for defrauding a businessman of HK$3.11 million in Tether. Police seized 10,978 counterfeit HK$1,000 notes in a Mong Kok office raid. The fake notes were "training notes" commonly used in mainland Chinese banks.......
