GSB Group operated several companies, all of which solicited investment for stakes in a Dubai skyscraper and a metaverse, hiring celebs like Floyd Mayweather Jr.
The scam started in 2018 and lured people to purchase Korvio coins, with over 1,000 cops among the 100,000 victims; police have now arrested 18 suspects.
The U.S. securities regulator accused the three SafeMoon executives of perpetrating a scam in which they withdrew $200 million to purchase sports cars and pay for a lavish lifestyle.
The prosecution may wind up its case when Sam Bankman-Fried's trial resumes on October 26, after which SBF’s team will have a week to 10 days to present its case.
Peter Kambolin would make trades using customer funds and then pick which accounts to assign the profits and losses, ensuring he was the ultimate beneficiary, authorities said.
The new working group will facilitate information sharing between the two on exchange breaches; meanwhile, JPEX converted user funds to native tokens as it turned into a decentralized autonomous organization.
The two promoters got five and one year behind bars, respectively, while lawyer Scott Hughes, who laundered the proceeds for AirBit Club, got 18 months.
Lawyers of Alex Mashinsky hinted they would argue digital assets are not securities amid a proposed plan to revive Celsius as NewCo after securing $450 million in funding.
Marco Ochoa ran IcomTech, luring investors with promises of guaranteed profits from ‘crypto’ trading and mining, but spent the money on a lavish lifestyle.
Mosaic Exchange claimed to hold tens of millions of dollars in assets and that its algorithm was 82% accurate and would return up to 60% in monthly profits.
Police in Hong Kong and Macau announced four more arrests stemming from the apparent rug-pull by the Dubai-based JPEX, which left over 2,400 Hong Kong-based customers fearing a combined loss of US$191.5 million in assets held on the exchange.