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Crypto users fell victim to a malicious fake wallet app that siphoned off over $70,000 in cryptocurrency in a sophisticated phishing attack. This app, posing as WalletConnect, remained undetected on the Google Play Store for four months, tricking 150 users before being removed. Checkpoint Research attributed this attack to crypto drainers, which are malicious tools […]
Alby Go is an easy-to-use open-source Bitcoin wallet that serves as an interface for your Lightning node or Nostr Wallet Connect (NWC) wallet service.
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Julia Leung's keynote at the Bond Connect Anniversary Summit 2024 highlights market integration and future prospects. (Read More)
The SFC and HKMA have expressed support for the PBoC's new measure on Northbound Swap Connect margin collateral arrangement, aimed at enhancing market stability. (Read More)
PRConnect, a digital content marketing services provider, has partnered with MediaFuse, a vertical newswire service, to enhance its news and content distribution services. In a statement shared with CryptoSlate on July 8, the companies said the move would expand PRConnect’s global distribution footprint while simultaneously creating successful campaigns targeting multiple markets and regions. PRConnect will […]
The post PRConnect taps MediaFuse for guaranteed coverage in blockchain, fintech sectors appeared first on CryptoSlate.
Aptos Connect allows users to log in with a Google ID without needing an MPC Network, Magic Links, or Windows passkey.
Trust Wallets collaboration with The Open Network aims to leverage Telegrams user base to enhance GameFi and DApps integration, promising seamless TON token transactions.
DAOPEOPLE, the next-generation Web3 social network built specifically for the crypto world, has been downloaded by over 100,000 users! Download it now.
The post Join the DAOPEOPLE Revolution with Our Exclusive Invitation Code! appeared first on Crypto Breaking News.
In today's daily recap - a promoter of Bitconnect has been convicted. More details in this article.
John Bigatton has been convicted for unlicensed financial advice, impacting the credibility of Australias financial sector.
Two months after pleading guilty, BitConnects national promoter in Australia, John Bigatton, was convicted by the court for providing unlicensed financial advice. He was subsequently released on a recognisance of good behaviour for three years.
The Australian courts decision on Friday came after Bigatton pleaded guilty in May for his role in promoting the cryptocurrency scam to retail investors in the country. He promoted the fraudulent scheme on social media, hosted seminars across the country, and had face-to-face meetings with victims, persuading them to invest in the scheme.
Licensing Is a Must
The Australian Securities and Investments Commission (ASIC), which indicted Bigatton, reiterated that many crypto assets are financial products, and even seminars and promotions around them would require a licence.
Providing unlicensed financial advice denies Australian investors access to key protections and undermines trust and confidence in Australias financial services industry, said ASICs Deputy Chair, Sarah Court. ASIC is committed to taking action against the unlawful promotion of high-risk digital assets to protect Australian investors.
This matter sends a clear message to Australians: that ASIC has and will act when unlicensed operators try to take advantage of Australian investors.
A $2.4 Billion Scam
Although the case has been legally framed around unlicensed financial activities, BitConnect was a massive scam. The scheme lured victims with absurdly high fixed interest rates.
BitConnect promoted its scheme heavily worldwide in 2016 and 2017. It incentivized invites and referrals to expand its network of investorsor rather, victims. The crypto scheme suddenly evaporated in 2018, and its websites and social media handles disappeared. This led to investigations by agencies in several countries.
The scam is estimated to have duped its investors out of approximately AU$2.4 billion globally.
According to ASIC, Bigatton promoted BitConnect locally in Australia, including its lending platform and tokens. He conducted four seminars nationwide and promoted it with two social media posts.
He claimed that BitConnect Coins would increase in value to at least US$1,000 and the scheme was better than any term deposit.
[The] offending involved a breach of trust in that the recipients of the financial product advice were entitled to have an expectation that they were receiving advice from a sufficiently licensed and regulated individual, the Aussie Judge stated.
This article was written by Arnab Shome at www.financemagnates.com.
Coinbases new wallet app will allow users to connect any self-custodial wallet for an aggregated view of assets.
In a recent development, Senators have initiated an investigation into Binance and its alleged ties to former US President Donald Trump. The probe aims to uncover any potential connections between the cryptocurrency exchange and the Trump administration. This move comes amidst growing concerns about the influence of cryptocurrency on political landscapes around the world. Binance, [...]
Learn how to connect the BNB Smart Chain to your MetaMask wallet and access a world of DApps, tokens and DeFi opportunities.
Recently, a North Korean spy disclosed connections through a deceptive job interview. This revelation sheds light on the intricate web of espionage and deceit employed by the secretive regime. The spy’s confession of using fake job interviews as a means to establish relationships with targets underscores the lengths to which North Korea goes to gather [...]
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The next trillion-dollar DePIN giant will be akin to Amazons AWS, driven by a demand for decentralized connectivity solutions.
John Bigatton, a Sydney man, has admitted guilt to promoting a cryptocurrency Ponzi scheme that swindled investors out of a staggering $3.6 billion. Bigatton, from Carss Park in New South Wales, pleaded guilty in Sydney District Court to acting as an unlicensed financial advisor while spruiking BitConnect’s Lending Platform in late 2017 and early 2018. […]
The US Treasury Department has taken action against a prominent Chinese fintech company, Huione, by revoking its access to the US banking system due to suspected ties to cryptocurrency money laundering activities. This move signifies the government’s commitment to combating financial crimes involving digital assets. Imposing sanctions on Huione demonstrates the US government’s determination to [...]
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