Cryptocurrency Scheme
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Tamil Nadu DGP Unveils ‘Handbook for Investigations into Virtual Digital Assets’: All Details
Tamil Nadu’s Director General of Police, Shankar Jiwal, has unveiled a guide for police officials on how to investigate crypto-related crimes. The handbook contains industry insights on crypto crimes like money laundering, ponzi schemes, and cyber fraud. It also covers key legal provisions around crypto and Web3.
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GainBitcoin Scam: CBI Seizes Cryptocurrencies Worth Rs. 23.94 Crore
The Central Bureau of Investigation (CBI) said it seized significant incriminating evidence and virtual digital assets, unravelling the extent of the cryptocurrency fraud following nationwide searches conducted on February 25-26 in connection with the GainBitcoin scam cases.
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ED Seizes 'Biggest' Crypto Fund Worth Rs. 1,646 crore in PMLA Case
The ED has busted a mega money laundering scheme, seizing Rs. 1,646 crore of crypto assets. The ED case, filed under the Prevention of Money Laundering Act (PMLA), stems from an FIR of the Surat Police crime branch which said the alleged fraud that took place between November 2016 - January 2018 (after demonetisation).
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WazirX Says Asset Rebalancing Complete, Invites Creditors to Raise Disputes
On February 10, WazirX announced the completion of its Net Liquid Platform Assets (NLPA) rebalancing, aligning token denominations with its assets and liabilities. The exchange has introduced three new tabs on its app and website, allowing users to view their rebalanced portfolio, their balance as of July 18, 2024, and the preliminary creditor list...
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WazirX Tells Creditors to Approve Restructuring Scheme or Wait Till 2030 for Refunds
WazirX said if a majority of creditors vote against the scheme, they could have to wait for up to five years to get compensated for the funds they lost in the July 2024 hack. A company spokesperson told Gadgets 360 that the exchange plans to start the voting process by the end of February or early March.
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Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
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WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
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WazirX Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
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Siblings Duped Of Rs 1 Crore In Crypto Scheme By 19 Members Of A Family
Police have registered a case against 19 members of a family in Maharashtra's Thane for allegedly duping a man and his brother of Rs 1.17 crore under the pretext of high returns on investment in a cryptocurrency scheme, an official said.
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YouTube Restores Access After Crypto Scammers Hijack Ranveer Allahbadia's Channel to Trick Viewers
This week, cyber criminals breached content creator Ranveer Allahbadia’s handles on YouTube, replaced related logos and images with those of Elon Musk and Tesla, as well as deleted all of the videos that were published on the pages. The channels started promoting a crypto fraud scheme, for hours before YouTube restored access to Allahbadia.
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WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
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Former US Bank CEO Shan Hanes Jailed For Stealing $47 Million In Crypto Scheme
A former chief executive officer (CEO) of a US bank has been sentenced to more than 24 years in federal prison for embezzling $47 million in a cryptocurrency fraud scheme.
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Elon Musk Deepfake Videos Targeting Crypto Investors Displayed on Channel Seven Following YouTube Hack
Elon Musk’s popularity in the crypto circle is becoming a dangerous threat for crypto investors, especially for ones who take the billionaire’s market commentary rather seriously. In a fresh incident, Musk’s identity was misused to promote a fake crypto scheme on the YouTube channel of Australia’s Channel Seven .
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Cryptocurrency Ponzi Scam Unearthed in Odisha, Head of ‘Yes World Crypto Token’ Arrested
The Economic Offences Wing (EOW) of Odisha has arrested the Country Head of "Yes World Crypto Token," namely Sandeep Choudhary (40) from Jaipur. Choudhary is a native of Rajasthan's Jhunjhunu. The case was registered on October 16 under sections 420, 467, 468, 471 and 120-B of the Indian Penal Code and sections 4, 5 and 6 of the Prize Chits and Mon...
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Man Dupes People With Fake Cryptocurrency Scheme, Arrested In Kolkata
A man has been arrested from Kolkata for allegedly duping people under the pretext of doubling their money in a cryptocurrency scheme, a Mumbai Police official said on Saturday.
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Tamil Nadu DGP Unveils ‘Handbook for Investigations into Virtual Digital Assets’: All Details
Tamil Nadu’s Director General of Police, Shankar Jiwal, has unveiled a guide for police officials on how to investigate crypto-related crimes. The handbook contains industry insights on crypto crimes like money laundering, ponzi schemes, and cyber fraud. It also covers key legal provisions around crypto and Web3.
-
GainBitcoin Scam: CBI Seizes Cryptocurrencies Worth Rs. 23.94 Crore
The Central Bureau of Investigation (CBI) said it seized significant incriminating evidence and virtual digital assets, unravelling the extent of the cryptocurrency fraud following nationwide searches conducted on February 25-26 in connection with the GainBitcoin scam cases.
-
ED Seizes 'Biggest' Crypto Fund Worth Rs. 1,646 crore in PMLA Case
The ED has busted a mega money laundering scheme, seizing Rs. 1,646 crore of crypto assets. The ED case, filed under the Prevention of Money Laundering Act (PMLA), stems from an FIR of the Surat Police crime branch which said the alleged fraud that took place between November 2016 - January 2018 (after demonetisation).
-
WazirX Says Asset Rebalancing Complete, Invites Creditors to Raise Disputes
On February 10, WazirX announced the completion of its Net Liquid Platform Assets (NLPA) rebalancing, aligning token denominations with its assets and liabilities. The exchange has introduced three new tabs on its app and website, allowing users to view their rebalanced portfolio, their balance as of July 18, 2024, and the preliminary creditor list...
-
WazirX Tells Creditors to Approve Restructuring Scheme or Wait Till 2030 for Refunds
WazirX said if a majority of creditors vote against the scheme, they could have to wait for up to five years to get compensated for the funds they lost in the July 2024 hack. A company spokesperson told Gadgets 360 that the exchange plans to start the voting process by the end of February or early March.
-
Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
-
WazirX Restructuring Plan Heads to Court in January; Risk of Liquidation If Rejected
Zettai stated that it is awaiting Singapore Court approval to present its restructuring plan to creditors. It added that if the plan is not approved, WazirX’s only remaining option would be liquidation.
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WazirX Hack: Zettai Requests Court Approval to Present Restructuring Plan for Creditor Vote
Zettai announced that it has filed an application with the court seeking permission to convene a meeting with its creditors. The meeting aims to present a proposed restructuring scheme and secure creditor approval through a vote.
-
Siblings Duped Of Rs 1 Crore In Crypto Scheme By 19 Members Of A Family
Police have registered a case against 19 members of a family in Maharashtra's Thane for allegedly duping a man and his brother of Rs 1.17 crore under the pretext of high returns on investment in a cryptocurrency scheme, an official said.
-
YouTube Restores Access After Crypto Scammers Hijack Ranveer Allahbadia's Channel to Trick Viewers
This week, cyber criminals breached content creator Ranveer Allahbadia’s handles on YouTube, replaced related logos and images with those of Elon Musk and Tesla, as well as deleted all of the videos that were published on the pages. The channels started promoting a crypto fraud scheme, for hours before YouTube restored access to Allahbadia.
-
WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
-
Former US Bank CEO Shan Hanes Jailed For Stealing $47 Million In Crypto Scheme
A former chief executive officer (CEO) of a US bank has been sentenced to more than 24 years in federal prison for embezzling $47 million in a cryptocurrency fraud scheme.
-
Elon Musk Deepfake Videos Targeting Crypto Investors Displayed on Channel Seven Following YouTube Hack
Elon Musk’s popularity in the crypto circle is becoming a dangerous threat for crypto investors, especially for ones who take the billionaire’s market commentary rather seriously. In a fresh incident, Musk’s identity was misused to promote a fake crypto scheme on the YouTube channel of Australia’s Channel Seven .
-
Cryptocurrency Ponzi Scam Unearthed in Odisha, Head of ‘Yes World Crypto Token’ Arrested
The Economic Offences Wing (EOW) of Odisha has arrested the Country Head of "Yes World Crypto Token," namely Sandeep Choudhary (40) from Jaipur. Choudhary is a native of Rajasthan's Jhunjhunu. The case was registered on October 16 under sections 420, 467, 468, 471 and 120-B of the Indian Penal Code and sections 4, 5 and 6 of the Prize Chits and Mon...
-
Man Dupes People With Fake Cryptocurrency Scheme, Arrested In Kolkata
A man has been arrested from Kolkata for allegedly duping people under the pretext of doubling their money in a cryptocurrency scheme, a Mumbai Police official said on Saturday.
