Former Bitcoin Insurance Advisor Accused of Securities Fraud
More than a year ago, an effort began to offer insurance products to companies in the bitcoin space – an intriguing idea at the time given the infancy of the industry and the inability of startups to secure this protection for user funds. The initiative marked some key early successes – security startup BitGo and wallet service Xapo would go on to acquire insurance by way of those efforts – but at least one of those involved says demand for insurance, particularly bitcoin theft insurance, never fully materialized. Now, a former president and founder of a business venture dedicated to....
Related News
The Securities and Exchange Commission (SEC) is accusing the founder of hedge fund Virgil Capital which specializes in cryptocurrency arbitrage, of fraud.
A Latvian national has been handed over to the United States where he is accused of fraud through several companies offering false crypto investment opportunities. Ivars Auzins will appear in a federal court in Brooklyn to face multiple charges of wire and securities fraud. Latvian Authorities Transfer Alleged Crypto Fraudster to US Custody Ivars Auzins, a citizen of the small Baltic nation of Latvia, was extradited to the United States on Friday. The Latvian has been handed over to the American judiciary on a six-count indictment charging him with wire fraud, securities fraud, and....
A former Circle board member is being sued by the US Securities and Exchange Commission (SEC) over alleged investment fraud, it has been revealed. According to a 13th May press release unsealed by the federal agency, Iftikar Ahmed is accused of fraud and self-dealing in connection with Oak Investment Partners. Ahmed served as a general partner at Oak, which took part in Circle's $17m Series B round. Two companies said to be under the control of Ahmed, Iftikar Ali Ahmed Sole Prop and I-Cubed Domains LLC, were named as relief defendants in the complaint. $55m in assets were frozen per an....
Amid the ongoing Ethereum scandal, former Ethereum advisor and attorney Steven Nerayoff has recently revealed how he plans on sharing proof of Ethereum founders’ fraud activities in the early days of the cryptocurrency asset. Ethereum Founders’ Fraudulent Acts To Be In Lawsuit Following an X (formerly Twitter) post by a user Heidi from Crytotips, the crypto enthusiast was seen trying to underscore the lack of authenticity from Nerayoff’s claims. According to her, his accusations were a no-brainer due to the disclosure lacking proof of his accusations. Related Reading:....
Mizuho is the latest in a string of organizations facing heat over connection to MT. Gox. (Reuters) Connection to the former leading Bitcoin exchange, Mt. Gox, has entangled another business partner in the exchange's highly publicized demise. One of Japan's largest lenders, Mizuho Bank Ltd., was added as a defendant to an existing U. S. lawsuit against Mt. Gox. The suit alleges that Mizuho aided Mt. Gox's fraud by providing banking services to the troubled exchange. Mizuho held fiat currency on behalf of Mt. Gox and its customers, and the amended lawsuit claims that the lender mingled....