Court Cases | ForkLog

ForkLog 14 26.02.2024

Kazakhstan Confiscates 408,000 USDT from Pyramid Scheme Organizer

A court in Astana has tried the organizer of the local branch of the cryptocurrency pyramid scheme Eolus, as reported by the AFM. According to the case materials, in 2023, the accused registered LLP “ENERGY EOLUS QAZAQSTAN” with the aim of attracting investments in renewable energy sources, allegedly located in the United States. The agency […]

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ForkLog 12 24.02.2024

Former FTX Executive Ryan Salame to Be Sentenced in May

On May 1, Judge Lewis Kaplan of the Southern District of New York will sentence Ryan Salame, the former CEO of FTX’s Bahamian division. This was reported by Cointelegraph, citing court documents. In September 2023, Salame pleaded guilty to criminal charges related to the collapse of the cryptocurrency exchange. The charges include conspiracy to make […]

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ForkLog 9 24.02.2024

US Court Approves Binance’s $4.3 Billion Settlement with Justice Department

A federal court in the Western District of Washington has approved a $4.3 billion payment by cryptocurrency exchange Binance to the US Department of Justice as part of a plea agreement. This was reported by Bloomberg. According to the signed memorandum, the platform has agreed to implement significant measures to ensure ongoing compliance with US […]

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ForkLog 16 23.02.2024

Riot Platforms Sues U.S. Department of Energy Over Data Collection

The mining company Riot Platforms and the industry group Texas Blockchain Council (TBC) have filed a civil lawsuit demanding a halt to the “emergency data collection” by authorities from the association’s members. The defendants are the U.S. Department of Energy, the Energy Information Administration (EIA) within the department, and the Office of Management and Budget […]

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ForkLog 19 23.02.2024

Kraken Challenges SEC Lawsuit as a ‘Dangerous Precedent’

The cryptocurrency exchange Kraken has filed a motion to dismiss a lawsuit by the SEC, arguing that the case could set a “dangerous precedent” for the regulator’s authority. In November 2023, the Commission accused the company of offering unregistered securities in the form of digital tokens on its platform. The agency also alleged that Kraken […]

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ForkLog 10 22.02.2024

Montenegro to Extradite Do Kwon to the United States

The High Court of Podgorica has decided to extradite Terraform Labs co-founder Do Kwon to the United States, according to Vijesti. The court rejected a similar request from South Korean authorities. The ruling is not legally binding, as Kwon’s lawyers have the right to appeal. “We have received the decision of the High Court of […]

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ForkLog 11 21.02.2024

Former Celsius CEO to Engage Lawyers of Sam Bankman-Fried

Former Celsius CEO Alex Mashinsky plans to rely on the same legal team as FTX founder Sam Bankman-Fried in court. Former Celsius CEO Alex Mashinsky said he was comfortable using the same lawyers as FTX founder Samuel Bankman-Fried to defend him against charges that he pumped up the price of his firm’s cryptocurrency https://t.co/pxxhxKkYZ6 — […]

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ForkLog 14 19.02.2024

Australian Officer Accused of Stealing Seized 81.6 BTC

The Melbourne court is examining the case of former federal police officer William Wheatley, accused of stealing bitcoins confiscated from a drug syndicate. This was reported by CryptoPotato. In January 2019, police investigated the illegal trade of drugs and steroids via the darknet and seized, among other things, a Trezor hardware wallet containing 81.6 BTC. […]

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ForkLog 9 15.02.2024

Court Authorizes Genesis to Sell $1.3 Billion in GBTC Shares

The bankruptcy court has approved Genesis Global Holdco’s request to sell 35 million GBTC shares, valued at over $1.3 billion, to satisfy creditor claims, according to Bloomberg. The subsidiary of DCG also plans to sell “more than 11 million shares of two Grayscale Ethereum trusts worth over $200 million.” Digital Currency Group sought to delay […]

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ForkLog 13 14.02.2024

Digitex CEO Accused of Violating US Bank Secrecy Act

The US Attorney’s Office filed a lawsuit against Adam Colin Todd, CEO of the bitcoin exchange Digitex, for lacking an “adequate” AML/KYC program on the platform. According to authorities, the accused “willfully caused Digitex Futures to violate the Bank Secrecy Act by failing to establish and implement an anti-money laundering system.” Investigators allege that from […]

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ForkLog 12 13.02.2024

Sentencing of Binance Founder Postponed to April

The sentencing of Binance founder Changpeng Zhao on money laundering charges has been postponed to April 30. This was reported by CNBC, citing a notice from the federal court in Seattle. The document did not specify the reason for the nearly two-month delay; the verdict was initially expected on February 23. Federal guidelines suggest a […]

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ForkLog 17 09.02.2024

Thai Regulator Accuses Former Zipmex CEO of Corruption and Fraud

The Securities and Exchange Commission (SEC) of Thailand has accused former Zipmex CEO Akalarp Yimwilai of fraud and misleading clients. According to the regulator’s investigation, the exchange transferred user funds stored in the platform’s Z Wallet to other addresses, notifying clients of the transactions only after the fact. “We believe that the Thai division of […]

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