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• A Ph.D. student of Oxford was recently sentenced to four and a half years in prison for a 2 million euro crypto scam.
• The 36-year-old student, Wybo Wiersma, created a website named iotaseed.io which supposedly generated private keys (seeds) for IOTA cryptocurrency users, but it was all a scam.
• Bitfinex identified the malicious activity on their exchange and froze Wiersma’s accounts after he presented two fake passports which they were unable to identify.

Crypto Scam Leads To Prison Sentence

The British Royal Court recently sentenced a Ph.D. student of Oxford to four and half years in prison for a 2 million euro crypto scam on January 27th. The 36-year-old student from the Netherlands, Wybo Wiersma, used a false name to set up the website iotaseed.io when he was studying at St Cross College which supposedly generated private keys (seeds) allowing users to trade IOTA cryptocurrency tokens.

Malicious Codes Used To Access Private Accounts

Wiersma tricked users into believing that his website could generate random 81 characters passwords (seeds) which granted them access to IOTA tokens, however in reality he had written malicious codes onto the website that allowed him to access each user’s “seed” when they carried out transactions and hijack funds into his own personal account. He then converted the stolen funds into Bitcoin and Monero altcoin tokens on Bitfinex exchange platform during 19th January 2018 worth 11 million dollars initially but part of this money was recovered by the IOTA foundation and affected exchanges after freezing his accounts on suspicion of fraud activity taking place within them .

Bitfinex Freezes Accounts On Suspicion Of Fraudulent Activity

Upon being suspicious of fraudulent activity involving Wiersma’s accounts, Bitfinex demanded that he identify himself before unfreezing these accounts so he gave them photographs of two fake passports – one from Belgium with incorrect information about its country stated in the document and other photo showed Jason holding an Australian passport – however due to not being able to identify who owned these accounts they remained frozen leading Wiersma onto making multiple attempts at trying to withdraw his money back out again without success due to authorities being alerted already about his actions before this could be done or completed successfully by him .

Victims Of Crypto Scam Have Been Compensated

The victims affected by this crypto scam have been compensated fully through collective efforts made by both exchanges as well as IOTA Foundation despite their losses originally caused by fraudulent activities set up against them via this false platform created by Wiersma widely known as “IOTASEED” . Furthermore , British Royal Court has ruled out sentence toward Wybo Wiersma for carrying out such an illegal activity without proper authorization or permission needed beforehand .

Conclusion

Crime involving cryptocurrencies is becoming increasingly more common and law enforcement agencies are stepping up their efforts in order crack down on those responsible for such scams or frauds committed against innocent people involved with digital currencies either directly or indirectly through investing activities carried out while trading online amongst different platforms available at present time within market today !

• FTX, a bankrupt crypto exchange, is sending letters to former donors asking them to return the money they received.
• The recipients have until February 28, 2023 to return the funds or face legal action.
• Sam Bankman-Fried and Ryan Salame of FTX donated tens of millions of dollars in campaign contributions between 2020 and 2022.

FTX Asks For Donations Back

FTX, a bankrupt crypto exchange founded by Sam Bankman-Fried, has sent out confidential letters to political figures, political action funds and other recipients of contributions made by or at the direction of the FTX Debtors. The recipients have been asked to return any money given to them before February 28th, 2023 or face potential legal action.

Donations Totaling $93 Million

Between 2020 and 2022 Bankman-Fried was the Democrats’ second largest donor providing more than $37 million for campaigns while FTX Digital Markets Co-CEO Ryan Salame contributed roughly $20 million to Republican candidates throughout the same period – resulting in a total of around $93 million donated between both parties.

Creditors Call For Voluntary Repayment

In December last year creditors issued a call for fund recipients to repay the money voluntarily but now FTX are making it clear that if they do not receive repayment they reserve their right to pursue legal action in order to compel payment plus interest due on any remaining funds.

“Unusual_Whales” Reveals List Of Recipients

The list of all those who had been handed donations was tweeted by “unusual_whales” which included powerful public figures as well as those with private sector wealth who were showered with hundreds of millions of dollars from Bankman-Fried and Salame without question.

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• Floki Inu, a meme coin, has seen a surge in price due to a development proposal to burn a large number of tokens.
• The proposal was aimed to reduce the tax users pay for transacting on the network, as well as reduce the potential security concerns associated with cross-chain bridges.
• After the proposal, FLOKI saw a 25% price increase.

Floki Inu, a meme coin birthed by fans and the SHIB community, has seen tremendous performance over the past few hours. This success has been attributed to a development proposal issued by the coin’s governing DAO. This proposal proposed to burn an enormous number of its circulating tokens, in order to reduce the tax users pay for transacting on the network, as well as reduce the potential security concerns associated with cross-chain bridges.

The proposal was released to much anticipation, as the coin is a strict Shiba Inu competitor, hence the name “Shiba Inu-Killer.” Being the people’s cryptocurrency (governed by a decentralized autonomous organization), Floki received a community proposal to burn a large number of its tokens. Reports stated that over $2 billion either got misplaced or stolen from cross-chain bridges alone in 2022, which further reinforces the importance of the proposal.

Token burn is a means by which blockchain developers remove some coins permanently from circulation. It aims to reduce the total circulating token supply and increase the asset’s value, provided demand does not change. Therefore, the proposal was seen as a positive by the crypto community, and the results soon followed. After the proposal was issued, FLOKI saw a massive price increase of 25%.

The success of Floki Inu is a testament to the power of decentralized governance. The proposals that are made by the community are taken seriously, and the results are evident. Floki Inu has become a major player in the crypto space and is expected to continue its success. With the proposed token burn, the coin’s value is expected to increase further, as the supply of tokens decreases. If the proposal is implemented, the coin is expected to become even more valuable and the community should continue to benefit from it.

• The revenue of ransomware attacks fell by 40.58% in 2022, according to a report from on-chain analytics firm Chainalysis.
• The total funds from ransomware that hackers received from victims plummeted to $456 million in 2022 from $765.6 million in 2021.
• Global regulators are striving to bring transparency in the crypto sector, and organizations are increasingly refusing to pay ransomware attackers.

The crypto industry is growing at a rapid pace, however, this growth has attracted its fair share of hackers and cybercriminals. The financial watchdogs have been paying close attention to the sector and are making efforts to regulate it more tightly. This is mainly due to the rising trend of ransomware attacks and money laundering activities.

An annual report from on-chain analytics firm Chainalysis on the ransomware attack has highlighted a significant decrease in these activities. According to the report, the revenue of ransomware attacks fell by 40.58% in 2022, with the total funds from ransomware that hackers received from victims plummeting to $456 million in 2022 from $765.6 million in 2021. Chainalysis further believes that the amount could be much higher as not all addresses linked to attacks have been identified.

The decreasing trend of ransomware attacks is largely due to the efforts of global regulators. Regulators are pushing organizations to apply stricter cybersecurity measures, and organizations are choosing to stand up to criminals instead of paying them. This has been a major factor in reducing the revenue of ransomware attacks.

The report also states that the price of Bitcoin is currently hovering above $21,000 in the daily trading session. This could be a positive sign for the crypto sector as it indicates a growing trust in the digital asset.

Ransomware attacks and money laundering activities have been a major concern for the crypto sector. However, the efforts of global regulators and organizations to stand up to criminals have been successful in decreasing the revenue of ransomware attacks. This could be a positive sign for the crypto sector as it indicates a growing trust in the digital asset.

• Crypto.com, a Singapore-based cryptocurrency exchange, recently announced a global cut-off of its workforce by 20%.
• This decision will affect around 700-900 employees, due to the adverse economic developments happening globally.
• The layoff is not a result of the company’s overall performance or stability, but more because of the need to focus on prudent financial management and to position the company for long-term success over time.

Crypto.com, a Singapore-based cryptocurrency exchange, recently announced a difficult decision to reduce its global workforce by 20%. This global headcount reduction will have a direct impact on around 700-900 employees, due to the adverse economic developments happening globally.

Kris Marszalek, Co-Founder & CEO of Crypto.com, expressed the difficulty of implementing this decision in a company update published Friday morning. “Today we made the difficult decision to reduce our global workforce by approximately 20%,” he said. Since Crypto.com has between 3,500-4,500 employees, this 20% headcount reduction will have a direct impact on around 700-900 employees.

Kris mentioned that the decision to lay off workers has nothing to do with the company’s overall performance or stability. Rather, it’s more because of the need to focus on prudent financial management and to position the company for long-term success over time. “We grew ambitiously at the start of 2022, building on our incredible momentum and aligning with the trajectory of the broader industry. That trajectory changed rapidly with a confluence of negative economic developments,” he said.

Although the news of the global headcount reduction by Crypto.com is concerning, the company has taken measures to ensure the best interests of its employees. The company has taken into account the needs of its employees and provided them with severance and outplacement support.

Ultimately, the unfortunate decision to reduce its global workforce by 20% was a result of the challenging economic environment. Despite the grim news, Crypto.com is still dedicated to providing the best possible services and products to its customers and remains committed to its long-term success.

• Crypto asset inflows recorded one of their worst years in 2022, with a total inflow of only $433 million, compared to the $9.1 billion in 2021.
• Institutional investors remain highly wary of the crypto market, with the largest weekly outflows for the year coming out to 0.7%.
• Bitcoin still leads the market, commanding more than half of the recorded value at $287 million.

The year 2022 was a tumultuous one for the crypto asset market, with market dips and crashes that saw over $2 trillion wiped off its market cap, leading to a massive pull-out of investor money. As a result, institutional investors recorded the lowest cumulative figure for crypto asset investments since 2018. A report from CoinShares outlines the year 2022 in review and how the crypto assets being invested in had done. It showed that for the whole of the year, the total inflows came out to $433 million. This was a dramatic decline from the $9.1 billion in 2021, a sign of the wariness with which many institutional investors had approached the market in the face of the bearish trend.

Compared to 2018, the outflows for 2022 were relatively lower. The largest weekly outflows for the year came out to only 0.7%, a figure that was encouraging despite the decline in inflows. Nevertheless, such a large dump shows that institutional investors remain highly wary of the crypto market, and it could continue into 2023 if there is no recovery.

It is important to note where most of the inflows for crypto asset investments had gone for 2022. Once again, bitcoin leads the market, commanding more than half of the recorded value at $287 million. This was a testament to the resilience of bitcoin and its continuing dominance of the market. Ethereum was in second place, taking up a significant portion of the inflows at $90.4 million. Other crypto assets such as Litecoin, Bitcoin Cash, and Cardano also gained some traction, but the lion’s share of investments still remained with bitcoin.

In conclusion, the year 2022 was a difficult one for crypto asset investments, with the market seeing one of its worst years since 2018. With investor wariness still high, the onus is on the market to show some signs of recovery if it wants to attract more institutional investors. Bitcoin may have come out strong, but it is still up to the other crypto assets to prove their worth and show investors that they can make a good return on their investments.

• On-chain data shows that the trading dominance of altcoins is now more than 50%.
• Historically, Bitcoin and Ethereum have dominated the majority of the trading volume in the market, with their combined dominance usually staying above 50%.
• However, altcoin trading dominance has recently increased, and the metric’s value is now greater than 50%.

The crypto markets have been subject to increased volatility and trading in recent weeks, and now on-chain data has revealed an interesting development: the trading dominance of altcoins is now more than 50%. This implies that more traders are investing in altcoins rather than Bitcoin and Ethereum, which have dominated the market for some time.

The “trading dominance” metric is used to measure the percentage of the total trading volume that any crypto is contributing. An increase in the value of this metric indicates that there is increased trading interest from investors, while a decline suggests the coin is losing steam compared to the rest of the market.

Historically, Bitcoin and Ethereum have both had strong dominance in the market, with their combined total usually staying above 50%. This has been the case for some time, with Bitcoin and Ethereum accounting for much of the trading volume in the crypto market.

However, there are signs that this may be changing. According to a recent CryptoQuant post, altcoin trading dominance has recently increased and the metric’s value is now greater than 50%. This suggests that more investors are trading altcoins rather than Bitcoin and Ethereum, which could be a sign of a shift in the market.

It is worth noting that this is not the first time that the market has seen a shift in the dominance of altcoins. In the past, there have been points where the altcoins (other than Ethereum) have been able to flip the picture, and this could be the case here.

It remains to be seen whether this trend will continue, and if it does, what effect it will have on the markets. However, it is clear that there is an increasing amount of interest in altcoins, which could have a significant impact on the markets in the coming weeks and months.

For now, the best thing to do is to watch the markets closely and see how the trend develops. With the amount of volatility in the markets, anything could happen, and investors should be prepared for any eventuality.

• New York Attorney General Letitia James has filed a civil lawsuit against Celsius co-founder and former CEO Alex Mashinsky, accusing him of defrauding investors out of billions of dollars.
• The lawsuit alleges that Mashinsky made false and unsubstantiated promises and misled investors, violating the Martin Act and causing investors to lose millions of dollars.
• Celsius was forced to file for bankruptcy protection in 2022 following the collapse of crypto hedge fund Three Arrows Capital (3AC).

New York Attorney General Letitia James has taken legal action against Celsius co-founder and former CEO Alex Mashinsky, accusing him of defrauding investors out of billions of dollars. The civil lawsuit alleges that Mashinsky made false and unsubstantiated promises to investors and misled them, resulting in the loss of millions of dollars.

The Attorney General alleges that Mashinsky knowingly concealed information from investors and advertised the Celsius platform as being “safer than a bank” when, in fact, the company was taking “risky investments” with their funds. In addition, the lawsuit claims that Mashinsky violated the Martin Act, a law that allows state officials to investigate and prosecute securities and commodities fraud.

Celsius was one of the world’s leading crypto lending companies prior to its bankruptcy filing in 2022. This was part of a series of bankruptcies among crypto companies that were caused by the collapse of crypto hedge fund Three Arrows Capital (3AC).

Since then, Celsius has been restructured and is now owned by two companies, Celsius Network LLC and Celsius Network Ltd. The company is now focused on providing its users with access to banking, trading, and lending services. It also has a new mission of “empowering everyone to become financially independent.”

The lawsuit against Mashinsky is just the latest in a series of legal actions taken by the Attorney General against cryptocurrency companies. Earlier this year, the AG’s office filed a lawsuit against Bitfinex and Tether, alleging that the companies had defrauded investors out of billions of dollars.

It remains to be seen what the outcome of the lawsuit will be. However, the case serves as a reminder that cryptocurrency companies must be held to the same standards as other financial institutions. Investors should always do their due diligence before investing in any cryptocurrency company, and should be aware of the risks associated with such investments.