#money

“I saw some ridiculous views, so i want to clarify that I’m refunding you not because you can find me, it’s because I don’t want to ruin your project, maybe it’s a lot of money for a lot of people, but not for me, I’m smarter than all of you, fuck!!!” Was this hack simply for the thrill of causing disorder? Or was there a message he was trying to convey? Given the thorough preparation that spanned weeks or perhaps even months, it's a thought-provoking consideration.

Ilya Lichtenstein and Heather Morgan, a husband and wife duo of crypto hackers, have pleaded guilty to federal money laundering conspiracy charges related to the 2016 hack of the cryptocurrency exchange Bitfinex. Their guilty plea comes after a year and a half since their arrest and charges in February 2022 and seven years after the initial hack. According to the government’s allegations, Lichtenstein hacked into Bitfinex and stole 119,754 bitcoins, which were valued at $72 million at the time and are now worth approximately $3.5 billion, for his personal benefit.

The body of Spanish crypto influencer Fernando Perez Algaba was tragically discovered in Argentina. He had been declared missing since last Tuesday. On July 23, children in Ingeniero Budge found a suitcase containing his amputated limbs. The police subsequently found his torso on the next day, and his head was located in a backpack on July 25. The motive for murder was related to his debts. A note left by Algaba’s explained that he had lost a significant amount of money invested in cryptocurrencies.

In a pivotal ruling on July 25, Judge Philip Jeyaretnam of the Singapore High Court declared cryptocurrency as personal property, placing it on par with fiat money. Judge Jeyaretnam's elucidation is notable for the legal status of digital assets. It was stemmed from a case where ByBit accused its former employee, Ho Kai Xin, of illicitly transferring approximately 4.2 million USDT from the company's coffers to personal accounts. The court mandated Ho to return the funds to cryptocurrency exchange.

The U.S. Senate is considering a new bill aimed at imposing strict anti-money laundering (AML) rules on decentralized finance (DeFi) protocols. The Crypto-Asset National Security Enhancement Act of 2023 targets entities controlling DeFi protocols or providing their applications. It requires customer vetting, AML programs, and reports of suspicious activities. In absence of a controlling entity, anyone investing over $25 million in a protocol's development would be responsible.

As Elon Musk occupies himself with the Twitter rebrand, the crypto community is enthusiastically trading tokens that bear association with the well-known platform only through its former name. The TwitterDAO (TWITTER) token is presently priced at $0.0001, despite a rocky start.This rise is attributed to the automatic system's verification and contract audit. Yet, it's vital to bear in mind that such tokens often morph into money-making tools for fraudsters, leading to a total wipeout of the assets belonging to external investors. The recent situation with BALD serves as a stark reminder of this risk.

American Senators Elizabeth Warren, Roger Marshall, Joe Manchin, and Lindsey Graham have once again introduced a proposal to tackle money laundering through cryptocurrencies. The Institute of Banking Policy wasted no time and promptly voiced its support for this bipartisan legislation, which seeks to tighten regulations on digital assets to ensure they fully comply with existing financial system rules

US presidential candidate Robert F. Kennedy Jr. disclosed that he invested in Bitcoin earlier this year, buying two BTC for each of his seven children. This move came after facing criticism for promoting the cryptocurrency without having any personal stake in it. Kennedy clarified that he made the investment right after attending a Bitcoin conference where he announced his decision to accept campaign donations in Bitcoin. “Right after that Bitcoin conference, I got a big check, and I said, okay, you know, I’m going to put my money where my mouth is.” During the conference, he denied having any personal investment in the cryptocurrency. However, he later decided to invest in Bitcoin to demonstrate his commitment to the technology and its potential.

Valkyrie's spot Bitcoin ETF application has officially entered the review stage at the U.S. Securities and Exchange Commission (SEC). It comes right after BlackRock's recent submission. Here's an interesting detail: this ETF has been given the ticker symbol BRRR, a sound crypto enthusiasts often equate with the whir of a money printing machine! The SEC has a window of up to 45 days (which can be extended to 90 days in special cases) to review Valkyrie's application.