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Mt. Gox Customers Are Getting Bitcoin Bonanza

Cryptocurrency has gone up 10K% since exchange shut down a decade ago

(Newser) - Former customers of the collapsed Mt. Gox bitcoin exchange will finally start getting their tokens back within days, which is fantastic news for them but could be a problem for other investors. The exchange shut down in early 2014 after multiple massive thefts and creditors have been waiting for more...

Reward for Info on Missing 'Cryptoqueen' Goes Way Up

Ruja Ignatova is accused of scamming OneCoin investors out of more than $4.5B

(Newser) - A reward for information on one of the few women ever featured on the FBI's Ten Most Wanted list has climbed 20-fold, despite claims that the missing "Cryptoqueen" was murdered. Ruja Ignatov, a Bulgarian-born German citizen accused of running a $4.5 billion cryptocurrency scam, has been missing...

Former FTX Exec Sentenced for 'Astonishing' Crimes

Ryan Salame handled illegal campaign contributions for Sam Bankman-Fried

(Newser) - One of Sam Bankman-Fried's top deputies at collapsed cryptocurrency exchange FTX was sentenced Tuesday—and US District Court Judge Lewis Kaplan gave Ryan Salame a stiffer sentence than prosecutors had asked for. Calling the 30-year-old's crimes "astonishing," Kaplan sentenced him to 7.5 years in federal...

Brothers Who Went to MIT Stole $25M in Crypto in 12 Seconds: DOJ

Anton and James Peraire-Bueno hit with charges related to wire fraud, money laundering

(Newser) - Anton and James Peraire-Bueno went from graduating from MIT to facing more than 20 years behind bars. The brothers, one of whom lives in New York and the other in Boston, were arrested Tuesday on federal charges alleging they stole $25 million in cryptocurrency in just 12 seconds in a...

Biden: Crypto Firm Can't Own Land Near Wyoming Base

Chinese-backed firm ordered to sell site, remove all equipment

(Newser) - President Biden issued an order Monday blocking a Chinese-backed cryptocurrency mining firm from owning land near a Wyoming nuclear missile base, calling its proximity to the base a "national security risk." The order forces the divestment of property operated as a crypto mining facility near the Francis E....

SBF's Main Rival Is Also Going to Prison

Binance founder Changpeng Zhao gets 4 months

(Newser) - Former Binance CEO Changpeng Zhao was sentenced Tuesday to four months in prison for allowing rampant money laundering on the world's largest cryptocurrency exchange. Zhao pleaded guilty in November to one count of failing to take required anti-money-laundering measures and stepped down as Binance agreed to pay $4.3...

A Big Moment for Bitcoin Is Happening This Week
Bitcoin's 'Halving'
Is Almost Here

Bitcoin's 'Halving' Is Almost Here

Quadrennial event is like the 'World Cup for crypto believers'

(Newser) - A huge day for bitcoin is almost here. The halving—or, as some call it, the "halvening"—happens roughly once every four years, and the next one is expected Friday night. The event halves the supply of bitcoin available to miners daily, and surges in the price of...

Brooklyn DA Targets Crypto 'Pig Butchering' Scams

He says his office shut down 21 websites

(Newser) - Authorities in New York City said Thursday they disrupted an online fraud operation that stole millions of dollars by duping victims into making phony cryptocurrency investments. Brooklyn District Attorney Eric Gonzalez said his office seized 21 web domains that were being used by scammers in so-called "pig butchering" schemes,...

SBF: 'I'm Haunted, Every Day, by What Was Lost'

'I never thought that what I was doing was illegal,' says FTX founder Sam Bankman-Fried

(Newser) - Held up in Brooklyn's Metropolitan Detention Center, Sam Bankman-Fried at least has access to email, which he used to communicate with ABC News over the weekend, detailing his remorse for defrauding investors out of $8 billion. "I'm haunted, every day, by what was lost," said the...

SBF Gets 25 Years: 'My Useful Life Is Probably Over'

Sam Bankman-Fried is sentenced over cryptocurrency fraud

(Newser) - Sam Bankman-Fried is going to federal prison for a long time over his fraud conviction in the world of crypto, though not as long as prosecutors wanted. Judge Lewis Kaplan on Thursday sentenced the 32-year-old former wunderkind to 25 years related to the collapse of his FTX crypto exchange, which...

SBF Will Learn His Fate Today
SBF Will Learn His Fate Today

SBF Will Learn His Fate Today

Prosecutors are seeking up to 50 years

(Newser) - Former cryptocurrency kingpin Sam Bankman-Fried will be sentenced Thursday for crimes including wire fraud and conspiracy to commit wire fraud. There's no question that the 32-year-old will face years in federal prison but there's a big gap between recommendations from prosecutors and those from his defense lawyers, the...

Bitcoin Surges to a Record High
Bitcoin Defies Expectations
as It Hits a Record High
the rundown

Bitcoin Defies Expectations as It Hits a Record High

Cryptocurrency reaches $69K

(Newser) - The roller coaster of bitcoin continues, this time with a high: The cryptocurrency reached a record-high price of $69,000 on Tuesday, reports the Wall Street Journal . The outlet cites Dow Jones Market Data, but the high mark differs slightly depending on the outlet. The New York Times , for example,...

Going on Trial: An Enduring Bitcoin Mystery

Craig Wright has long claimed to be creator 'Satoshi Nakamoto,' but court could settle the debate

(Newser) - One of the enduring mysteries of the cryptocurrency industry took center stage Tuesday in a London court where a trial could finally settle the debate over the identity of bitcoin's founder, the AP reports. Australian computer scientist Craig Wright entered the witness box at the High Court and testified...

Pastor Throws God Under the Bus After Fraud Charges

'The Lord told us to,' Colorado's Eli Regalado tells his flock

(Newser) - A pastor in Colorado stands accused of bilking his flock out of millions of dollars in a cryptocurrency scheme to fund a lavish lifestyle, reports NBC News . And in a video to his followers, Eli Regalado admits that he and wife Kaitlyn did indeed pocket $1.3 million in the...

SEC Reluctantly Approves New Bitcoin Funds

Agency says action 'did not approve or endorse bitcoin'

(Newser) - The Securities and Exchange Commission reluctantly approved the first exchange-traded funds that hold bitcoin Wednesday, saying that it is still deeply skeptical about cryptocurrencies and that it "did not approve or endorse bitcoin" in its decision. The SEC said it is finishing the approval of 10 exchange-traded funds for...

Bitcoin Price Spikes After SEC's X Account Hacked

Agency says post about ETF approval was 'unauthorized'

(Newser) - The Securities and Exchange Commission says a post from its X account that caused a spike in the price of bitcoin was the work of hackers. The post claimed that the SEC had granted approval for bitcoin exchange-traded funds, known ETFs, "for listing on all registered national securities exchanges,...

Prosecutors: No Need for 2nd Trial of FTX Founder

Prosecutors say there would be harm, no benefit, in trying SBF again

(Newser) - A second trial of FTX founder Sam Bankman-Fried on charges not in the cryptocurrency fraud case presented to a jury that convicted him in November is not necessary, prosecutors told a judge Friday. Prosecutors told US District Judge Lewis A. Kaplan in a letter that evidence at a second trial...

Roller Coaster Bitcoin Is Clocking Big Gains

Cryptocurrency is above $40K again, up 150% this year

(Newser) - Bitcoin is once again having a moment. On Monday, the world's largest cryptocurrency soared past $41,000 for the first time in over a year and a half—marking a 150% rise so far this year, per the AP . Volatile bitcoin rocketed from just over $5,000 at the...

Ronaldo Faces $1B Suit Over Endorsement of Binance

Soccer star pitched NFTs tied to his career

(Newser) - A year ago, soccer star Cristiano Ronaldo offered fans a deal that he said would reward them "for all the years of support." He had partnered with Binance on a collection of non-fungible tokens celebrating "an iconic Ronaldo moment." The investment didn't pan out for...

How Billions of Stolen Bitcoin Stayed Hidden—Until a Slipup

Jimmy Zhong stayed under the radar for nearly a decade, until he made a banking error

(Newser) - The 2012 mystery of who stole a bundle of bitcoin that eventually ballooned to $3 billion in worth puzzled authorities for the better part of a decade, but in 2019, Jimmy Zhong finally made an error that led them to his doorstep. CNBC's investigative report delves into how Zhong...

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