Analysis Today TheBitTimes.com

Former Southern District of New York prosecutor Josh Naftali said Caroline Ellison, Gary Wang and Nishad Singh will probably skip time behind bars due to their cooperation with federal attorneys in United States v Sam Bankman-Fried. “it’s the exception, not the rule,” Naftali noted on TechCrunch’s Chain Reaction podcast, referring to witnesses serving time after testifying for the government. In a white collar case, where you’re a first time offender, as a cooperator , it’s pretty typical for the cooperating witness not to do actual jail time Josh Naftali, former prosecutor Naftali’s comments, backed by first-hand experience on the matter, correspond with prosecutor questioning and witness testimony during the criminal trial of FTX founder Sam Bankman-Fried. The three-star witness,  ex-CEO of Alameda Research Caroline Ellison, former FTX and Alameda CTO Gary Wang and Nishad Singh, who was chief developer at both firms, all signed plea deals in exchange for a 5K letter.  This ...

The Philippine SEC is now collaborating with the U.S. SEC and the Asian Development Bank to better combat crypto-related crime. The Philippines Securities and Exchange Commission (SEC) has teamed up with its United States counterpart, as well as the Asian Development Bank to crack down on criminals using cryptocurrencies to commit fraud and other financial crimes. According to a Sept. 15 press release, the three institutions conducted an International Organization of Securities Commissions (IOSCO) Investigation and Enforcement Training workshop last month, in a bid to upskill their combined fraud and scam prevention toolkit when it came to crypto -related crimes. The Securities and Exchange Commission (SEC) Philippines collaborating with international organizations to further its mandate of protecting the public from securities fraud and other forms of investment scams. Read more at https://t.co/TzdieiKRSp#SECupdates pic.twitter.com/3ANDH9yrwC — SEC Philippines (@SEC_Philippines) Se...

Prosecutors claimed Nathaniel Chastain profited from inside information as to which NFTs would be featured on the marketplace. The former OpenSea manager who was accused of insider trading of NFTs has been convicted on May 3 of wire fraud and money laundering in a New York federal court, according to a report from Reuters. According to prosecutors, Nathaniel Chastain, a former Product Manager at OpenSea, was in charge of choosing which NFTs would be featured on the website’s non-fungible token (NFT) marketplace. After making these decisions, he frequently purchased these NFTs and then resold them after they had been featured, prosecutors said. He was charged with wire Fraud and money laundering on June 1 in connection with these alleged transactions.  OpenSea's home page displaying featured NFTs. Source: OpenSea The trial began on April 24 and has been watched closely by lawyers specializing in crypto-related issues. Some legal experts have argued that the outcome of the case may ...

The majority of the funds stolen were from a single wallet which had $751,321.80 USDC drained from the malicious link. Azuki, a popular nonfungible token (NFT) project, had its Twitter account compromised on Jan. 27 leading to hackers stealing over $750,000 worth of USD Coin (USDC) by posting a malicious “wallet drainer link” posed as a virtual land mint. Hackers stole $751,321.80 USDC from a single wallet within half an hour of the malicious links being tweeted, according to Etherscan data provided to Cointelegraph by crypto wallet security firm Wallet Guard. The data also revealed that Hackers stole a further $6,752.62 worth of USDC from various wallets holding 11 NFTs and over 3.9 Ether (ETH). Wallet Guard stated that the total amount stolen was $758,074.42. Emily Rose, community manager for the anime-inspired NFT project confirmed via Twitter on Jan. 27 that the Azuki account was hacked, warning users not to click any links from Azuki’s Twitter account . AZUKI OFFICIAL TWITTER AC...