Mediaboss Marketing

Prosecutors say it took a pair of brothers only 12 seconds to steal nearly $25 million in cryptocurrency, and now they face serious criminal charges.

The Department of Justice announced it has charged Anton Peraire-Bueno, 24, of Boston, and James Peraire-Bueno, 28, of New York, of numerous criminal counts, including conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering.

Prosecutors allege that the brothers studied mathematics and computer science at a "prestigious" university and applied their knowledge to exploit the integrity of the Ethereum blockchain. Multiple outlets reported that they studied at MIT. The Department of Justice said the pair "manipulated and tampered with the process and protocols by which transactions are validated and added to the Ethereum blockchain."

In a court indictment, prosecutors say the alleged crime occurred in April 2023.

U.S. News

4:50 PM, May 16, 2024

The DOJ says the brothers learned the trading behaviors of the people they allegedly stole from. Prosecutors added that they took numerous steps to conceal their identity in hopes of not getting caught.

The Peraire-Bueno brothers stole $25 million in Ethereum cryptocurrency through a technologically sophisticated, cutting-edge scheme they plotted for months and executed in seconds, said Deputy Attorney General Lisa Monaco. Unfortunately for the defendants, their alleged crimes were no match for Department of Justice prosecutors and IRS agents, who unraveled this first-of-its kind wire fraud and money laundering scheme. As cryptocurrency markets continue to evolve, the Department will continue to root out fraud, support victims, and restore confidence to these markets.

Prosecutors say the Peraire-Bueno brothers face up to 20 years for each criminal count. The case will be heard in the Southern District of New York federal court.

More here:

Brothers allegedly steal $25 million in cryptocurrency in 12 seconds - Scripps News

An inquiry was launched into Effective Ventures Foundation in 2022 following the collapse of one of its major funders, the cryptocurrency exchange FTX.

The charity, which runs research projects related to charitable giving, received over 3 million in funding from FTXs philanthropic arm, the FTX Foundation.

The Commission opened the inquiry to examine the management of the relationship between the charity and its funders and sought to ensure the charitys assets were protected in the wake of FTXs collapse.

During the inquiry, the Commission was satisfied that the trustees had taken steps to ringfence the funds it had received from the FTX Foundation. The charity has since come to an agreement with the FTX estate regarding this funding.

The Commission was concerned about perceived conflict of interests at the charity and found two members of the trustee board had connections with the FTX Foundation.

While the inquiry found no evidence of any improper conduct by the trustees, it did find that it was not always clear in what capacity those two trustees were acting (i.e. as trustee of the charity or for the FTX Foundation). These two trustees resigned from their positions at the charity.

The inquiry found that there was no formal process for trustees to identify conflicts of interest. However, there was no evidence to suggest that conflict of interests had been mismanaged by the charity.

During the inquiry, the charity strengthened its policies on managing conflicts of interest and financial controls.

Its important that people have trust in charities to take swift and appropriate action when faced with serious incidents.

After the demise of FTX and the subsequent jailing of its founder, Sam Bankman- Fried, the Charity Commission wanted to ensure that Effective Ventures had protected itself against financial or reputational damage.

In this case, we were satisfied that trustees took steps to quickly protect its assets and to resolve any conflicts of interests between the charity and FTX and is on a surer footing for the future.

The full report detailing the findings of this inquiry can be found on gov.uk

Press office

Email: pressenquiries@charitycommission.gov.uk

Out of hours press office contact number: 07785 748 787

View original post here:

Charity Commission concludes its inquiry into charity with links to failed cryptocurrency firm FTX - GOV.UK

New York, NY, May 21, 2024 (GLOBE NEWSWIRE) -- ChainBitVortex , a pioneering new cryptocurrency exchange founded in 2024 and based in the USA, is setting new standards in digital asset trading with its cutting-edge security measures and user-friendly interface. As the cryptocurrency market continues to evolve, ChainBitVortex aims to eliminate doubts and foster trust among traders worldwide.

About ChainBitVortex

ChainBitVortex has rapidly grown to prominence with a team of over 300 employees, offering a comprehensive suite of services tailored to both novice and experienced traders. Originally designed for multi-asset trading, the platform has quickly evolved into a premier cryptocurrency exchange, featuring a convenient web app, competitive fees, and a strong focus on security.

Key Benefits of ChainBitVortex

Convenient Web App

ChainBitVortex's web app stands out for its ease of access and user-friendly interface. Accessible from any internet-connected device, the app ensures traders can manage their accounts and execute trades seamlessly, whether they are using a desktop, laptop, tablet, or smartphone. The app's intuitive design and real-time data capabilities make it an excellent choice for those new to cryptocurrency trading.

Speed and Performance

Optimized for speed, the ChainBitVortex web app provides real-time data and fast transaction processing, essential for the fast-paced cryptocurrency market. Users can execute trades quickly and efficiently, minimizing the risk of financial loss due to delays.

User-Friendly Interface

The modern and clean layout of the ChainBitVortex web app ensures that all essential features are easily accessible, enhancing the overall trading experience.

Easy to Start Trading

Designed with user-friendliness in mind, ChainBitVortex's intuitive interface makes it easy for beginners to start trading. The platform supports multiple languages, including English, Spanish, and Chinese, making it accessible to a global audience.

Competitive Trading Fees

ChainBitVortex offers transparent and competitive trading and withdrawal fees, allowing users to maximize their returns without worrying about hidden costs.

7*24 Customer Supporting

Quick Response, 24/7 Availability. Responding and resolving customer issues in as fast as 5 minutes.

Unparalleled Security Features

Security is a top priority for ChainBitVortex. The platform employs multiple layers of security measures to protect users' assets and personal information:

Encrypted Keys: Private keys are encrypted with AES-256, ensuring robust protection against unauthorized access.

Password Security: User passwords are protected with Salted SHA-256 encryption, enhancing security by adding random data to passwords.

Secure Storage: 99.95% of user funds are stored in cold storage using multi-signature technology, minimizing the risk of hacking.

Data Transmission: Encrypted Transport Layer Security (TLS) connections (HTTPS) secure data transmission between web apps and servers.

DDoS Protection: Advanced distributed system architecture provides protection against Distributed Denial of Service (DDoS) attacks, ensuring uninterrupted trading.

Areas for Improvement

While ChainBitVortex has many strengths, there are areas that need attention. Some users have reported negative experiences, such as slower customer support response times, limited payment options, and occasional technical issues. Addressing these concerns will further enhance the platform's reliability and user satisfaction.

Conclusion

ChainBitVortex is poised to become a leading cryptocurrency exchange with its strong emphasis on security, user-friendly interface, and competitive fees. As the platform continues to evolve, addressing user feedback and improving service quality will be key to its long-term success.

For more information, please visit ChainBitVortex's website .

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

See the original post here:

ChainBitVortex Unveils Robust Security Features in New Cryptocurrency Exchange - InvestorsObserver

Donald Trumps presidential campaign has said it will begin accepting donations in cryptocurrency as part of an effort to build what it calls a crypto army leading up to Election Day.

The Trump campaign launched a fundraising page that allows any federally permissible donor the ability to give to its political committees using any crypto asset accepted through the Coinbase cryptocurrency exchange.

The announcement promotes his message that he is a crypto-friendly candidate, and also appeals to a core group of young male voters who are increasingly likely to dabble in digital assets.

Cryptocurrencies are a digital asset that can be traded over the internet without relying on the global banking system.

Mr Trumps campaign is accepting a range of popular cryptocurrencies that include Bitcoin, Ether and US Dollar Coin, and also the low-value coins that tend to be popular with internet personalities like Shiba Inu Coin and Dogecoin.

Billionaire Elon Musk, most notably, is considered a fan of the latter two, traded on markets as DOGE and SHIB.

It is not clear whether the Trump campaign will hold on to the crypto or will immediately sell it, and what sort of fees it may pay to liquidate.

While the campaign says it plans to follow US election laws, the anonymous nature of cryptocurrencies can make it tricky to confirm the funds are coming from who they say they are.

Mr Trump has already received millions in cryptocurrency personally through his Trump Digital Trading Cards non-fungible token projects and his Maga coin, released last August.

Julia Krieger, a spokeswoman for Coinbase, told the Associated Press that crypto is non-partisan and moves money forward because its cheaper and faster, adding that the Coinbase platform is open to all candidates this election season.

While some states do not allow cryptocurrency donations in state races under existing campaign finance laws, the Federal Election Commission does allow committees to receive Bitcoin as contributions.

A 2014 advisory opinion issued by the commission concluded that Bitcoin is money or anything of value within the meaning of the law and political committees should value the contribution based on the market value of Bitcoin at the time the contribution is received.

The presidential campaign for independent candidate Robert F Kennedy Jr accepts Bitcoin donations.

In conventional money, Mr Biden and the Democratic National Committee said on Monday that they raised more than $51 million in April, falling well short of the $76 million that Mr Trump and the Republican Party reported.

Read more here:

Trump campaign says it will begin accepting cryptocurrency contributions - BreakingNews.ie

Cryptocurrency spot trading cooled last month for the first time in seven months.

It was a trend driven by a dwindling likelihood of interest rate cuts and slower inflows into U.S.-listed spot bitcoin exchange-traded funds (ETFs), Seeking AlphareportedSaturday (May 18), citing numbers from researcherCCData.

According to that data, spot market volume on exchanges such asCoinbase, BinanceandKraken fell by 32.6% to $2.01 trillion in April, while monthly derivatives trading volume declined by 24.1% to $4.57 trillion, its first drop in three months.

This decline followed unexpected macroeconomic data, an escalation in the geopolitical crisis in the Middle East, and negative net flows from U.S. spot Bitcoin ETFs, leading major crypto assets retracing the gains they made in March, CCData said.

Last month also saw bitcoin drop by almost 15%, falling below $60,000 and breaking a seven-month hot streak that included a record highof more than $73,000 in March.

As the report noted, this run was driven primarily by speculation surrounding last years regulatory approval of spot ETFs and the bitcoin halving event.

Last week, crypto custody firmBakktsaid that the Securities and Exchange Commissions (SEC)approval of bitcoin ETFswill lead institutional investors to play a larger role in the cryptocurrency trading market.

The companys earnings showed that in the first three months of the year, crypto trading volume climbed 324%compared to the prior quarter, driven by exceptionally strong client trading activity, the presentation said.

As evidenced in our trading volumes in Q1, weve begun to see positive green shoots in the market and the overall demand environment improving, with more industry activity, higher coin pricesandoverall higher retail trading volume,Andy Main, president and CEO of Bakkt, said during the companys quarterly earnings call.

The institutional investors in this market are seeking a purpose-built crypto trading platform that will align with their needs and priorities, rather than the existing trading market that was built primarily for retail investors, Bakkts presentation said.

The crypto trading industry has been built primarily for everyday retail investors who use a central limit order book trading structure, Main said. Meanwhile, institutional investors who are offering bitcoin ETFs are increasingly finding that the retail central limit order book structure is not meeting their large-scale needs.

Read the rest here:

Report: Crypto Spot Trading Slows in April - PYMNTS.com