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March 2023

FastForkast headlines

Indian crypto exchange WazirX blocks over 2,400 accounts in 6 months

US accuses exiled Chinese tycoon Guo Wengui of $1 billion crypto-linked fraud

Euler Finance loses nearly US$200 mln in exploit

Hong Kong’s crypto scam losses in 2022 more than double from 2021: SCMP

March 2023

FastForkast headlines

Hong Kong’s crypto scam losses in 2022 more than double from 2021: SCMP

South Korea arrests head of Bithumb crypto exchange for alleged embezzlement

February 2023

Why Europe’s DORA regulation is a band aid but not a cure

EU’s new Digital Operational Resilience Act aims to help firms withstand cyberattacks. Monica Oravcova of Naoris Protocol explains why it doesn’t go far enough.

How DeFi can overcome the stench of shitcoins and ponzinomics

DeFi Summer has cooled into Crypto Winter, but with a silver lining — investors are finally asking sensible questions like: ‘Where does the yield come from?’ writes Julian Koh of Ribbon Finance.

How ‘naming collisions’ threaten the promise of Web3

What are ‘naming collisions,’ and why will unique user-owned identities play a pivotal role in Web3’s future success? Matthew Gould explains.

Alameda Research transfers spark suspicions as SBF denies involvement

Top blockchain and crypto news: Where is Alameda Research’s money going? US tax loophole may give crypto investors a break. China’s blockchain momentum builds.

FastForkast headlines

South Korea arrests head of Bithumb crypto exchange for alleged embezzlement

S.Korea to adopt crypto tracking software in the first half of 2023

DOJ, FBI hack Hive Network, save US$130 mln from crypto ransomware attacks

CEO of South Korea’s V Global US$2 bln crypto pyramid scheme gets 25 years in prison

Nexo office in Bulgaria raided over fraud, money laundering suspicion

German government warns of ‘Godfather’ malware targeting banking, crypto apps

Crypto, digital assets account for 69% of online investment scams in Hong Kong

January 2023

How crypto crimes are evolving, and what to expect in 2023

Ponzi schemes, investment scams and rug pulls have drained billions from crypto users in recent years. What new kinds of crypto crimes are on the horizon?

A year of scams

Crypto proved to be breeding ground for scams in 2022. Will next year be different?

US lawyers, Bahamas liquidators trade barbs over who rules FTX bankruptcy jurisdiction

Sam Bankman-Fried has reportedly made a second application for bail in the Bahamas – this as lawyers feud over control of the FTX bankruptcy, raising concern the sour grapes may seep into efforts to have Bankman-Fried extradited to face fraud charges in the U.S.

Could NFTs have prevented Taylor Swift’s concert tickets debacle?

The trillion-dollar concert ticketing sector is plagued by scalping and other Web2-era problems, writes Ryan Kenny of SeatlabNFT. Here’s how blockchain can help fans and artists.

Sam Bankman-Fried in Bahamas police custody, faces criminal charges in U.S.

Top blockchain and crypto news: SBF denied bail, US extradition likely next. The Block chief quits over secret FTX loans. Hong Kong readies digital asset rules.

FastForkast headlines

Crypto, digital assets account for 69% of online investment scams in Hong Kong

Bahamas regulators hold US$3.5 bln of FTX assets, to be delivered to customers, creditors

Late Nexon CEO’s US$6.7 mln crypto stolen; hacker gets six years in prison

Sam Bankman-Fried, FTX misled investors, lent billions to Alameda, Caroline Ellison says

Hong Kong arrests two for suspected involvement in digital asset fraud on AAX

FTX Bahamas Co-CEO warned authorities on Nov. 9 of illegal customer asset transfers, documents show

SEC charges FTX founder Sam Bankman-Fried with defrauding investors

Sam Bankman-Fried hires attorney Mark Cohen amid probes of failed FTX exchange

December 2022

Scam Center Slavery?

It’s no secret that crypto scams and fraud are abundant – but those doing the scamming might be victims of something even more sinister.

Chinese mafia forcing Filipinos to work for crypto scams, says Philippine Senator

The organized crime gangs victimize both the trafficked and those that get scammed, according to the official

FastForkast headlines

Sam Bankman-Fried hires attorney Mark Cohen amid probes of failed FTX exchange

Wallet linked to defunct crypto exchange BTC-e suddenly activates

Disgraced FTX founder SBF to speak at New York Times Dealbook Summit despite controversy

Seizure, guilty plea in US$3.36 bln stolen Silk Road Bitcoin case

Asia’s largest metaverse Zepeto targets sex abuse, exploitation

November 2022

Scammers Paradise?

Crypto crimes are costing Hong Kong billions every year – but what’s being done about it and what can the rest of the world learn from it?

‘High risk’ crypto activity most prevalent in Eastern Europe amid Russia-Ukraine war: Chainalysis

‘Risky or illicit’ transactions represent the highest rate of any region measured by the blockchain analytics firm.

Brazil police bust crypto group led by ‘Bitcoin Sheikh’

Gold bars, cash, jewelry, cars and luxury watches bought with defrauded funds are seized.

FastForkast headlines

Asia’s largest metaverse Zepeto targets sex abuse, exploitation

Sam Bankman-Fried to refund FTX phishing victims — just this once

Software maker Hancom raided amid suspicions over token Arowana, slush fund

South Korea mulls uploading headshots of sex offenders on 3D metaverse

South Korea seeks software to track US$7.2B in illegal crypto

BNB Chain back online after around $100 mln lost in possible exploit

Arrested Terra employee, Do Kwon associate, released from custody amid S. Korea Terra-LUNA probe

Aussie laundered stolen retirement funds via Hong Kong using crypto, diamonds

US$4B in money laundering happened on DEXs, bridges and coin swaps: Elliptic

October 2022

Crypto community pushes back following CFTC charges against Ooki DAO

The Commodity Futures Trading Commission faces criticism from cryptocurrency industry as opposition grows over “unprecedented” charges against the Ooki DAO.

China busts ‘world’s dumbest thieves’ in digital yuan money laundering case

Chinese authorities can track e-CNY wallet transaction history, if warranted, thanks to its ‘managed anonymity’ design.

Interpol issues red notice for Do Kwon, says South Korean prosecutor

South Korea is pursuing different options to get custody of Do Kwon as the Terraform Labs CEO faces charges for his alleged involvement in the multibillion collapse of the Terra-LUNA stablecoin project.

For South Korea, making Do Kwon pay for his alleged crimes easier said than done

A member of the prosecuting team tells Forkast additional charges are likely to be leveled against Terraform Labs Chief Executive Officer Do Kwon following this week’s issuance of an arrest warrant for violating the country’s Capital Markets Act.

Terra CEO Do Kwon faces ‘illegal alien’ status in Singapore as Seoul cancels passport

Prosecutors investigating the man behind the US$37 billion wipeout of the Terra-LUNA cryptocurrency project are raising the stakes to get him back to South Korea.

FastForkast headlines

US$4B in money laundering happened on DEXs, bridges and coin swaps: Elliptic

Binance law enforcement training program to seek out ‘bad actors’

Japan plans new crypto transfer rules to combat money laundering

China says it busted US$5.6B crypto money laundering ring

UK bill allows law enforcement to ‘seize, freeze, recover’ crypto assets

Do Kwon says “not on the run” as S.Korea calls for Interpol’s red notice

Argentinian tax agency conducts first-ever raids on illegal crypto mining farms

Crypto Fraud and Asset Recovery Network in U.K. launches Hong Kong chapter

S.Korean man sentenced to four years for sexual abuse in metaverse

US$30 mln seized from North Korea hacking group: report

‘Doctor Bitcoin’ claims to be heading to prison for P2P BTC sale

Indian police arrest alleged crypto trickster in US$31 mln scam: report

Australia establishes federal crypto police unit

September 2022

Tornado Cash arrest heralds storm season for crypto mixers

Top blockchain and crypto news: Tornado Cash, mixer crash. Cardano’s Vasil vulnerabilities. Canaan earnings buoy expansion plans.

FastForkast headlines

Australia establishes federal crypto police unit

Alleged Tornado Cash Developer Alexey Pertsev to stay in jail

Ukraine seizes funds from crypto wallet funding Russian forces

NFT platform SudoRare vanishes with 519 Ethereum