New York Supreme Court Grants Bitfinex’s Motion to Modify Injunction

Justice Joel Cohen of the New York Supreme Court has granted the Bitfinex cryptocurrency exchange’s motion to modify an injunction from the New York Attorney General (NYAG), Bitfinex announced on May 16.Per the announcement, the court order will allow Bitfinex and affiliated stablecoin operator Tether to continue their normal business. It also states that the…

Former Investor Sues OneCoin Scheme, Seeks Class Action

Former OneCoin investor Christine Grablis is suing the cryptocurrency investment scheme for fraud, according to a complaint filed on May 7.Grablis is seeking damages and a class action suit to represent other investors purportedly defrauded by OneCoin.The full list of defendants in this lawsuit — Grablis v. OneCoin Ltd. — includes OneCoin Ltd, Ruja Ignatova,…

Bitfinex Covered $850 Million Loss Using Tether Funds, NY Prosecutors Allege

news The New York Attorney General’s office has alleged that crypto exchange Bitfinex lost $850 million and subsequently used funds from affiliated stablecoin operator Tether to secretly cover the shortfall. According to a press release issued Thursday, NYAG Letitia James announced that she had obtained a court order against iFinex Inc., which operates both Bitfinex…

Chinese Internet Court Employs AI and Blockchain to Render Judgement

In China, blockchain technology is increasingly employed to settle court cases, local news outlet Global Times reported on April 25.Speaking at the 2019 Forum on China Intellectual Property Protection, Zhang Wen, president of the Beijing Internet Court — which was established in September 2018, and has since processed 14,904 cases — reportedly said that the…

Mt. Gox CEO Decides to Appeal Conviction on Manipulating Financial Records

Mark Karpeles, former CEO of now-defunct Mt. Gox crypto exchange, has appealed his conviction on charges of manipulating data, The Associated Press (AP) reports on March 29.On March 15, Karpeles was acquitted of charges of embezzlement, but was found guilty of tampering with financial records, with the court stating that he manipulated data to harm…

Winklevoss Twins to Pay Out $45,000 in Legal Fees to Charlie Shrem After New Ruling

Bitcoin (BTC) entrepreneur and advocate Charlie Shrem will receive around $45,000 in legal costs from Tyler and Cameron Winklevoss as part of an ongoing lawsuit, according to an official document filed on Feb. 7.The latest step in the lengthy legal proceedings between the former business partners, a judge at the District Court of the Southern…

Crypto Firm Accused of Fraud, Duping Investor Into Buying $2 Million in Tokens

A lawsuit recently filed in a United States district court in New York claims that an investor was misled into investing $2 million dollars in the cryptocurrency MCash, a Feb. 1 court filing states.The filing alleges that the plaintiff Lijun Sun transferred $2 million to New-York based investment group Blue Ocean Capital Group, Inc. to…

Crypto Exchange QuadrigaCX Missing $145 Mln After Death of Founder

Following the sudden death of its founder Gerry Cotten, cryptocurrency exchange QuadrigaCX is reportedly missing CA$190 million dollars ($145 million) in digital assets, Canadian news daily The Globe and Mail reports on Feb. 1Citing a creditor protection filing from the Nova Scotia Supreme court, the Globe and Mail states that the firm has been unable…

Bitcoin Hedge Fund and CEO Slapped With $2.5 Million Penalty for Ponzi Scheme

A New York federal court has ordered cryptocurrency hedge fund Gelfman Blueprint, Inc. (GBI) and its CEO Nicholas Gelfman to pay over $2.5 million for operating a fraudulent Ponzi scheme, according to an official announcement published Oct. 18.GBI is a New York-based corporation and denominated Bitcoin (BTC) hedge fund incorporated in 2014. As stated on…