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US Man Fined $1.1 Million, Sentenced to 15 Months for Fraudulent Bitcoin, Litecoin Schemes

U.S. citizen Joseph Kim of Phoenix, Arizona has been fined $1.1 million and sentenced to 15 months in jail for misappropriating Bitcoin (BTC) and Litecoin (LTC) from several people, the U.S. Commodity Futures Trading Commission (CFTC) reports Friday, Nov. 9.The CFTC found out that Kim defrauded his employer, a Chicago-based proprietary trading firm, transferring approximately […]
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Trader Jailed and Fined Over $1 Million for Bitcoin and Litecoin Fraud …

The U.S. Commodity Futures Trading Commission (CFTC) issued a press release on Friday, November 9, 2018, stating that it had fined Arizona resident Joseph Kim for perpetrating a fraudulent cryptocurrency trading scheme against his former employer and other investors. The same day, a District Court in the Northern District of Illinois sentenced Kim to 15 […]
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North Korea Allegedly Backed Two Cryptocurrency Scams This Year

According to a new report from U.S.-based security firm Recorded Future published on Oct. 25, the North Korean government has sponsored at least two scam coins.In the report entitled “Shifting Patterns in Internet Use Reveal Adaptable and Innovative North Korean Ruling Elite,” Recorded Future’s research team Insikt Group mentions two alleged altcoin scams tied to […]
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Ticketmaster to Enhance Ticketing System with Blockchain in New Partnership

Global ticketing giant Ticketmaster has acquired blockchain-focused live events firm Upgraded, according to an Oct. 18 press release.Ticketmaster, a division of the world’s largest live-entertainment business Live Nation, plans to use blockchain technology through the partnership as a way to provide more transparency and better control ticket distribution.Additionally, the company hopes it will protect clients […]
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US Regulators Extend Their Purview Within Crypto Industry

This week, on the same day, two United States regulating bodies — the Financial Industry Regulatory Authority (FINRA) and its ruling organization the Securities and Exchange Commission (SEC) — reported filing objections against non-compliant crypto players who made some false statements regarding their businesses.While the SEC barely needs any introduction for those who follow the […]
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New York District Judge Rules That CFTC Can Permanently Ban Crypto Firm

The U.S. Commodities Futures Trading Commission (CFTC) has won a court order to permanently bar the operator of the New York-based firm CabbageTech Corp. for cryptocurrency-related “bold and vicious fraud,” Bloomberg reported August 24. Earlier this year, Patrick McDonnell, cryptocurrency promoter and operator of CabbageTech Corp., was charged with “fraud and misappropriation in connection with […]
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