The Securities and Exchange Commission has started administrative proceedings against American CryptoFed, a Wyoming-based decentralized autonomous organization (DAO), to weigh a stop order to suspend the registration of the offer and sale of its Ducat and Locke tokens.
An issuer seeking to register the offer and sale of crypto assets as securities transactions must furnish the required disclosure information to the SEC,” David Hirsch, chief of the enforcement division’s crypto assets and cyber unit, said in a statement. “American CryptoFed not only failed to comply with the disclosure requirements of the federal securities laws, but it also claimed that the securities transactions. https://www.theblock.co/post/188464/sec-moves-to-suspend-sale-of-american-cryptofed-dao-tokens
Controversial crypto entrepreneur Jason Falovitch on Sunday reported that hackers breached his crypto wallet on OpenSea and stole four NFTs and six ETH. In a similar incident, earlier this month, famous American actor and comedian Bill Muray became a victim of hackers and lost 119.2 ETH worth $185,000 that he had just finished raising through his NFT action for a charity.
Asking to fix responsibility on the wallet service provider, a user sued OpenSea for $1 million after he lost his Bored Ape NFT in a phishing attack. The plaintiff claimed that OpenSea must accept some responsibility for the heist. The four NFTs that hackers illegally transferred out of his wallet included a Bored Ape Yacht Club (BAYC) NFT and a Mutant Ape Yacht Club (MAYC) NFT, and two Doodles. Both Mutant and Bored Ape NFTs were sold for 15.99 ETH and 82.69 ETH, equivalent to $20,700 and $107,000, respectively.
A Briton Christopher Hamilton will be extradited to the U.S. to face money laundering and wired fraud charges after being indicted in the $ 4 billion OneCoin scam, according to Law360. Hamilton and his co-accused Robert McDonald had filed to be tried outside of the US since the majority of the crimes took place in Britain.
A U.K District Judge Nicholas Rimmer, however, ruled against their plea and ruled for extradition given that the victims were based in the US. While Hamilton will be tried in the U.S., McDonald was exempted from the extradition on claims of human rights. He claimed that his wife was critically ill and his absence may expose her to suicidal tendencies. The duo is facing legal charges for taking part in the $4 billion OneCoin Ponzi scam pioneered by “CryptoQueen” Ruja Ignatova.#web3grandpappa
U.S. authorities have warned about the rising popularity of a crypto scam known as “pig butchering.” The Federal Bureau of Investigation (FBI) explained: “The fraud is named for the way scammers feed their victims with promises of romance and riches before cutting them off and taking all their money.”#Web3GrandPappa #mimeXmime
She created the OnceCoin project, which originated in Bulgaria, and left the organization to disappear in 2017. Federal authorities in Manhattan have accused her of fraud and money laundering in connection with what the government describes as a pyramid scheme.
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