The founder of Binance, the world’s largest cryptocurrency exchange, has admitted he failed to take steps to prevent money laundering as the company agreed to pay more than 4 billion dollars (£3.2 billion) after an investigation by the US government. Chief executive Changpeng Zhao pleaded guilty to one count of failure to maintain an effective […]
A major bank has issued a warning about crypto investment scams, with victims standing to lose more than £10,000 on average and young adults often being particularly at risk. Lloyds Bank has recorded a 23% rise in reports of cryptocurrency investment scams by customers in its banking group (including Lloyds Bank, Halifax and Bank of […]
FTX founder Sam Bankman-Fried has pleaded not guilty in Manhattan federal court to charges that he cheated investors and looted customer deposits on his cryptocurrency trading platform. Bankman-Fried, 30, is accused of illegally diverting massive sums of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades […]
A “worrying” surge in reports about cryptocurrency scams which falsely claim to be endorsed by celebrities is being seen by a major bank. On average, people lost £11,872 to this type of scam in the first quarter of this year, Santander UK said. Based on the current growth in these frauds, Santander UK is expecting […]
