CrispyBull

FTX's bold assertion of full repayment to creditors, amidst its tumultuous bankruptcy, raises doubts about the adequacy and fairness of its proposed plan. As stakeholders scrutinize the exchange's reorganization efforts, questions linger about the true extent of customer restitution in the FTX bankruptcy saga.

Google takes a stand against crypto scam apps, filing a lawsuit to protect users and uphold the integrity of its Play Store. This move signals a pivotal moment in the battle against online fraud.

The New York Attorney General's office has updated its lawsuit against prominent blockchain companies Gemini, Genesis, and Digital Currency Group (DCG), following a recent settlement with Genesis. The lawsuit expansion comes after allegations of fraud, with investor losses now totaling over $3 billion, highlighting the widespread impact of deceptive practices within the crypto industry.

A recent investigative report by Joseph Cox of 404 Media underscores the ease with which synthetic identities can circumvent verification on major crypto exchanges like OKX, raising concerns about susceptibility to fraud. Urgent regulatory action is needed to bolster KYC and AML protocols, ensuring the integrity of the financial system.

In a significant enforcement move, the U.S. SEC has charged Brian Sewell, founder of the American Bitcoin Academy, for orchestrating a fraudulent scheme that targeted students. The alleged scam involved enticing investors to participate in the Rockwell Fund, leveraging artificial intelligence and crypto trading strategies, but instead, Sewell retained the funds in Bitcoin, resulting in a $1.2 million loss when his digital wallet was hacked.