Court Cases | ForkLog

ForkLog 29 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 16 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 19 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 23 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 17 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 17 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 23 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 21 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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ForkLog 24 09.02.2024

WEX Administrator Appeals for Leniency and Asset Return

On February 8th, the Moscow City Court began reviewing the appeal of Alexey Bilyuchenko (Ivanov), the system administrator of the cryptocurrency exchange WEX, against his previous conviction. This was reported by journalist Irek Murtazin on his Telegram channel. Bilyuchenko is accused of embezzling 3.1 billion rubles of WEX assets. In September 2023, the court of […]

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ForkLog 15 08.02.2024

Montenegro Delays Do Kwon’s Extradition to the US

The Court of Appeals in Montenegro has overturned a previously approved decision to extradite Do Kwon to South Korea or the United States, granting a renewed appeal by the co-founder of Terraform Labs’ lawyers. This was reported by The Block. In December, the court had already rejected the initial verdict, which was contested once more. […]

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ForkLog 40 07.02.2024

Uzbekistan to Sue Binance Over Unpaid Fine

NAPU of Uzbekistan is preparing a lawsuit against the cryptocurrency exchange Binance, which has refused to voluntarily pay a fine for operating in the country without a license. This was reported by local media, citing a statement from the agency’s deputy director, Vyacheslav Pak. According to him, Binance’s refusal to settle the matter amicably was […]

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ForkLog 12 07.02.2024

CEO of Bitsonic Sentenced to Seven Years for Fraud

The CEO of South Korean cryptocurrency exchange Bitsonic, Jinwook Shin, has been sentenced to seven years in prison for his involvement in a fraudulent scheme amounting to 10 billion won ($7.5 million), according to local media. Court documents reveal that from January 2019 to May 2021, Shin artificially inflated trading volumes on the exchange and […]

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