Security News

David Carmona, the founder of the cryptocurrency “Ponzi” scheme IcomTech, has been handed a 10-year prison sentence for conspiracy to commit wire fraud. Carmona was the “mastermind” behind IcomTech, which “preyed upon working-class people by promising them complete financial freedom in exchange for parting with their hard-earned money,” United States Attorney Damian Williams said in an Oct. […]

Maximizing Bitcoin BTC$62,122.93 decentralization throughout the entirety of the stack is a matter of national security, Rajiv Khemani, co-founder and CEO of mining chip manufacturer Auradine, told Cointelegraph. The CEO explained that third-party firmware — which updates and changes over time — could theoretically be used to compromise the energy grid or launch a 51% attack on […]

The Hong Kong Virtual Asset Exchange (HKVAX) has become the third cryptocurrency exchange to receive licensing from the Special Administrative Region’s Securities and Futures Commission (SFC) to serve retail customers. It is the third exchange to receive full licensing in Hong Kong. HKVAX received Type 1 (dealing in securities) and Type 7 (providing automated trading […]

Brazil is incorporating decentralized finance (DeFi) principles into its development of an in-house “synthetic” central bank digital currency (CBDC), Drex, which was previously called the Brazilian digital real. Roberto Campos Neto, president of Banco Central do Brasil, highlighted the country’s need for a multidimensional CBDC that addresses the “trilemma” of decentralization, privacy and programmability — […]

A man who reportedly turned $88,000 into $415 million before losing it all has sued his investment firm and advisers for failing to provide adequate advice as he carried out risky trades. Christopher DeVocht claimed RBC Dominion Securities set him up with a margin account and substantial loans that ultimately backfired, wiping out his entire […]

Crypto startup Lejilex and the United States Securities and Exchange Commission have filed competing briefs for summary judgment in a Texas federal court, escalating their legal battle over crypto’s classification. Lejilex, part of the Crypto Freedom Alliance of Texas, said in its Oct. 3 brief that it would facilitate crypto transactions, not sell securities, and […]

According to an Oct. 2 announcement, the United States Securities and Exchange Commission’s (SEC) chief enforcer, Gurbir Grewal, will step down on Oct. 11 after a stint distinguished by his aggressive policing of the cryptocurrency industry. The SEC has not chosen Grewal’s permanent replacement but Sanjay Wadhwa, deputy director of the SEC’s enforcement division, will […]

The United States Securities and Exchange Commission (SEC) filed a notice of appeal in the Ripple lawsuit on Oct. 2, 2024, seeking to overturn an earlier ruling from Judge Analisa Torres. Legal experts anticipated the regulatory agency’s appeal of the 2023 verdict set by Judge Torres, which established that secondary sales of Ripple’s XRP did not constitute securities […]

Tens of thousands of Bank of America customers have reported a network outage preventing them from accessing their bank accounts or seeing a $0 balance. Reports of service issues started to come in at about 4:26 pm UTC on Oct. 2 and peaked about one hour later with nearly 18,000 Bank of America customers reporting […]

The Bitcoin mining firm accused by Swan Bitcoin of stealing its mining business through a “rain and hellfire” plan has denied the allegations, and is calling for the case to be dismissed. In a Sept. 30 motion to dismiss, Proton Management said accusations made by Swan are “fatally flawed” because it “does not have a mining business” […]