Trung Nguyen, operator of a ‘no questions asked’ cash-to-Bitcoin service, receives a 6-year prison sentence and must forfeit $1.5 million for money laundering and running an unlicensed money-transmitting business.
Tag: Court
ASIC Appeals Block Earner Case to High Court: Defining Crypto Financial Products
Australia’s financial regulator, ASIC, seeks High Court appeal in the Block Earner case to clarify the definition of a ‘financial product’ in the context of crypto-linked services.
Binance Faces Legal Challenge: Arbitration Request for Securities Class Suit Explained
Binance is seeking arbitration for all members of a securities class-action lawsuit, citing user agreement to arbitrate claims. Explore the legal battle, key arguments, and potential outcomes.
Coinbase Faces Lawsuits After Data Breach: User Data Compromised, Security Questioned
Coinbase is embroiled in a series of lawsuits following a data breach where customer support agents were bribed, compromising user data. The lawsuits allege inadequate security measures and a delayed response from the exchange.
Sonic Labs Wins Judgment to Wind Up Multichain Foundation: Recovering $210M Hack Funds
A Singapore High Court has granted Sonic Labs’ motion to wind up the Multichain Foundation following a $210 million hack in 2023. Liquidators from KPMG will now attempt to recover and distribute funds to affected users.