Court Cases | ForkLog

ForkLog 4 23.07.2024

Marathon Digital Fined $138 Million for Contract Breach

Marathon Digital, the largest mining company in the United States, has been fined $138 million for breaching a non-circumvention agreement. This was reported by Cointelegraph. According to a press release from the law firm Affeld England & Johnson, the jury unanimously ruled in favor of Michael Ho, founder of US Bitcoin Corp and Chief Investment […]

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ForkLog 13 19.07.2024

Bitzlato Founder to Be Released After Time Served

On July 18th, the U.S. District Court in Brooklyn, New York, sentenced Anatoly Legkodymov, founder of the cryptocurrency exchange platform Bitzlato, to 18 months in prison, crediting him for the equivalent time already spent in detention. This was reported by Bloomberg. Legkodymov was accused of running an unlicensed money transfer business that processed over $700 […]

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ForkLog 18 18.07.2024

BlockFi to Begin Compensation Payments by Month’s End

The crypto lender BlockFi is set to return digital assets to clients via Coinbase by the end of July. The firm, which has undergone bankruptcy proceedings, announced this on X. As described in our previously announced Coinbase distribution partnership blog post (https://t.co/M0T56YiKAe), BlockFi will commence first interim crypto distributions through Coinbase in July 2024. — […]

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ForkLog 9 18.07.2024

Virgil Griffith’s Prison Sentence Reduced by Seven Months

The sentence of former Ethereum Foundation researcher Virgil Griffith, accused of violating sanctions law by visiting North Korea, has been reduced from 63 to 56 months. This was reported by The Block. The US District Judge considered the difficulties faced by the developer during his imprisonment and took into account several “disciplinary violations” on his […]

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ForkLog 7 17.07.2024

US Senator and Bitcoin Critic Convicted of Corruption

Democratic Senator Bob Menendez from New Jersey, who once described the leading cryptocurrency as “the perfect choice for criminals”, has been found guilty of accepting bribes. According to NBC News, the jury agreed on all 16 charges, including bribery, extortion, acting as a foreign agent, obstruction of justice, and various conspiracy counts. Menendez received cash […]

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ForkLog 12 17.07.2024

FTX and CFTC Reach $12.7 Billion Settlement Agreement

The bankrupt cryptocurrency exchange FTX and the CFTC have reached a $12.7 billion settlement following months of negotiations, as reported by The Block. Back in 2022, the CFTC accused former FTX CEO Sam Bankman-Fried and the affiliated Alameda Research of actions that led to customer losses of $8 billion. Initially, the agency pursued a claim […]

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ForkLog 11 16.07.2024

Craig Wright Faces Potential Criminal Charges in the UK

Court documents concerning the “pseudo-Satoshi” Craig Wright have been submitted to the UK prosecution for consideration of charges of perjury and forgery. “I have no doubt that I should submit the relevant documents in this case to the Crown Prosecution Service to consider whether to initiate prosecution against Dr. Wright for his extensive perjury and […]

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ForkLog 6 15.07.2024

US Court Delays Trial of Tornado Cash Co-Founder

The Southern District Court of New York has granted a request by the defense of Tornado Cash co-founder Roman Storm to postpone proceedings by three months, as reported by The Block. Lawyers cited “complex and novel legal and factual issues,” “millions of pages of documents,” many of which are in Russian and require translation. The […]

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ForkLog 14 15.07.2024

Australian Court Convicts Former BitConnect Promoter

The Sydney District Court found Australian promoter of the fraudulent $2.4 billion BitConnect scheme, John Bigatton, guilty of providing unlicensed financial services. The man was sentenced to three years of restricted freedom on the condition of good behavior. For five years, he will be barred from managing any business. According to court documents, the project […]

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ForkLog 7 13.07.2024

Ripple Reflects on Year Since Partial Victory Over SEC

Last summer, the Southern District Court of New York ruled in favor of Ripple Labs in its ongoing case against the SEC, which began in 2020. A year later, the company’s chief legal officer, Stuart Alderoty, discussed the ruling’s impact on the industry. Some reflections as we approach the one year anniversary of Judge Torres’ […]

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ForkLog 15 12.07.2024

Tornado Cash Developer Denied Bail

Tornado Cash cryptocurrency mixer developer Alexey Pertsev will remain in prison pending an appeal of his conviction in a $1.2 billion money laundering case, reports DLNews. This decision was made by the Court of Appeal in ‘s-Hertogenbosch, Netherlands. Pertsev’s lawyers argued that there was no flight risk and that he needed internet access to prepare […]

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ForkLog 23 11.07.2024

BitMEX Admits Guilt in Breaching the Bank Secrecy Act

The BitMEX exchange deliberately failed to develop, implement, and maintain an adequate anti-money laundering (AML) program as required by federal law. This was stated in a statement by the U.S. Attorney for the Southern District of New York. From 2015 to 2020, BitMEX was one of the leading cryptocurrency derivatives platforms. “The platform became a […]

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