Court Cases | ForkLog

ForkLog 20 08.03.2024

Do Kwon to be Extradited to South Korea

Do Kwon, co-founder of Terraform Labs (TFL), is set to be extradited to South Korea. This decision was made by the High Court of Montenegro, reports Vijesti. On March 5, the country’s Court of Appeal overturned the approval for the TFL head’s extradition to the United States authorities. Previously, lawyers had succeeded in similar petitions […]

AI translated

ForkLog 14 07.03.2024

BlockFi Settles $874.5 Million Claims with FTX and Alameda Research

The lending platform BlockFi, currently undergoing bankruptcy proceedings, has reached a preliminary agreement to settle claims against FTX and Alameda Research for $874.5 million. If approved by the court, the firm will distribute funds to its clients. The amount is expected to fully satisfy creditor claims. FTX will contribute $185.2 million, while $689.3 million will […]

AI translated

ForkLog 6 06.03.2024

Binance.US Reports 75% Revenue Decline Following SEC Lawsuit

The American branch of Binance experienced a 75% drop in revenue and laid off 200 employees following the filing of a lawsuit by the SEC against the cryptocurrency exchange, according to court documents. In June 2023, the regulator brought 13 charges against Binance, including the unregistered offering of securities in the form of digital tokens. […]

AI translated

ForkLog 98 06.03.2024

Brother of OneCoin Founder Released from Prison

Konstantin Ignatov, brother of OneCoin cryptocurrency pyramid founder Ruja Ignatova, has been released after three years in prison, according to Bloomberg. The judge deemed the time he spent in custody awaiting the next hearing sufficient, taking into account his cooperation with the prosecution. During the hearing, Ignatov took full responsibility for his actions, as reported […]

AI translated

ForkLog 8 06.03.2024

Do Kwon’s Extradition to the US Halted by Montenegro Court

The Montenegrin Court of Appeals has overturned the approval of Do Kwon’s extradition to the United States. This marks the third successful appeal by the Terraform Labs co-founder, reports The Block. Previously, Kwon had similar extradition requests to the US and South Korea dismissed on December 19 and February 8, respectively. The appellate court cited […]

AI translated

ForkLog 33 05.03.2024

Kaliningrad Court Sentences Crypto Investor’s Kidnappers

Two residents of the Kaliningrad region have been found guilty of kidnapping, extortion, car theft, robbery, and attempted murder, according to a statement by the local Investigative Committee. In September 2021, they kidnapped a Kaliningrad resident who had substantial cryptocurrency savings. They held him for nearly a day in an undisclosed location, where they coerced […]

AI translated

ForkLog 7 04.03.2024

US Court Deems Cryptocurrency Trading as Securities Transactions

In an in absentia ruling on an insider trading case involving Coinbase, a US court determined that trading certain crypto assets on secondary markets constitutes securities transactions. In July 2022, authorities arrested former Coinbase product manager Ishan Wahi and his brother Nikhil, accusing them of insider trading fraud. Samir Ramani, a close friend of the […]

AI translated

ForkLog 12 01.03.2024

Elon Musk Sues OpenAI Over Closed-Source AI Product

Elon Musk accused OpenAI of abandoning its open-source roots following the release of a closed-source AI product. The billionaire contends that Sam Altman and OpenAI breached an agreement established at the company’s inception to develop technology for the benefit of humanity rather than for profit. “OpenAI has been transformed into a subsidiary with closed-source code […]

AI translated

ForkLog 8 29.02.2024

SEC Challenges Terraform Labs’ $166 Million Payment to Law Firm

The SEC has approached the bankruptcy court to request that Terraform Labs be denied the use of the law firm Dentons as an advisor due to a “suspicious” payment. This was reported by The Block. According to the agency, Terraform Labs transferred a “staggering” $166 million into Dentons’ advance payment system. Of this total, $122 […]

AI translated

ForkLog 19 28.02.2024

OpenAI Accuses New York Times of ‘Hacking’ ChatGPT

OpenAI has petitioned the court to dismiss part of the New York Times (NYT) copyright lawsuit, alleging the newspaper “hacked” ChatGPT to fabricate evidence. This was reported by Reuters. “What OpenAI calls ‘hacking’ is merely using its own products to find evidence that they stole and reproduced NYT’s copyrighted work,” responded the newspaper’s lawyer, Ian […]

AI translated

ForkLog 11 28.02.2024

Lawyer Seeks 6.5-Year Sentence for Sam Bankman-Fried

Mark Mukasey, the attorney for FTX founder Sam Bankman-Fried (SBF), petitioned the court to impose a sentence ranging from 63 to 78 months for his client. “A suitable method for delivering a fair decision would be to consider the adjusted offense level (intermediate result), which is 56, reduced by 30 levels, based on zero damage. […]

AI translated

ForkLog 10 28.02.2024

Investors Renew Class Action Lawsuit Against Ripple

Another lawsuit has been filed against fintech company Ripple and its CEO, Brad Garlinghouse, over alleged violations of securities laws. This class action complaint continues a legal initiative started by investors back in January 2020. In a statement submitted to the Northern District of California court, the plaintiffs request recognition of violations of federal and […]

AI translated

#Court Cases