Bitcoinist·
Americans lost more than $11 billion to crypto-related fraud last year, according to an FBI report released in April — and the pressure on governments across Southeast Asia to crack down has only grown since then. A Deadly Business Myanmar’s military government has now responded with one of the harshest proposed laws of its kind […]
Read full articleBitcoin Depot had roughly 220 machines running in Canada when the Canadian government released its Spring Economic Update in April, proposing a nationwide ban on crypto ATMs to combat scammers and money launderers. The timing could not have been worse for the company. A Company Running Out Of Room The Atlanta-based crypto kiosk operator disclosed […]
The post Myanmar proposes life in prison for crypto scam appeared on BitcoinEthereumNews.com. Myanmar’s military published a draft bill on May 14 proposing life in prison for crypto scam operators. Summary Myanmar’s Anti-Online Scam Bill proposes life imprisonment for operating digital currency scam centers. The bill allows the death penalty for individuals using violence, torture or unlawful detention to force victims into scam work. Myanmar’s military-backed parliament is next scheduled to sit in the first week of June to advance the legislation. The draft legislation, called the Anti-Online Scam Bill, states that anyone convicted of “digital currency fraud” or running an online scam center faces a sentence ranging from ten years to life in prison. The bill permits capital punishment for operators who use “violence, torture, unlawful arrest and detention, or cruel treatment against another person for the purpose of forcing them to commit online scams.” Military bill targets digital c
Myanmar’s military published a draft bill on May 14 proposing life in prison for crypto scam operators. The draft legislation, called the Anti-Online Scam Bill, states that anyone convicted of “digital currency fraud” or running an online scam center faces…
The post Chinese entrepreneur calls out Binance Wallet, crypto traders, scammers, over meme token listing appeared on BitcoinEthereumNews.com. A Chinese entrepreneur is in a very public round of terse exchanges with Binance Wallet and the broader crypto space, demanding that the exchange delist a meme token using both his name and profile picture without permission. Binance Wallet has responded by blocking the token from search results, but the asset remains present on the blockchain, much to Luo Yonghao’s frustration. And the volley of snide comments via posts on his X profile has not stopped. Why is Luo Yonghao criticizing Binance? Luo Yonghao, one of China’s most recognizable internet entrepreneurs, took to social media to publicly confront Binance (BNB) co-founder Changpeng Zhao, better known as CZ, after discovering that an unauthorized meme coin bearing his name and profile picture had appeared on Binance Wallet. He posted a message on the social media platform X, directed to
The text of Myanmar’s Anti-Online Fraud Bill said that anyone who was convicted of committing “digital currency fraud” could face from ten years to life in prison, and possibly the death penalty.
Schwartz warned of a dramatic surge in fake XRP giveaways, airdrops, and impersonation accounts targeting the community. Scammers are now using deepfake AI videos and fraudulent NFTs with hidden buy offers to drain investor wallets. Schwartz warns that anyone claiming to be him on Instagram, Telegram, or most platforms is a scammer. The digital asset […] The post XRP Scam Wave Explodes as David Schwartz Issues Urgent Warning appeared first on Live Bitcoin News.
The post Victims of Iran Attacks Seek Court Order for Turnover of $344 Million in USDT Frozen by Tether appeared on BitcoinEthereumNews.com. TLDR: Terrorism victims filed a Manhattan court motion targeting 344 million USDT frozen in IRGC-linked wallets. Plaintiffs cite past FBI seizure cases where Tether burned and reissued USDT to law enforcement wallets. Creditors seek to enforce $2.42 billion in compensatory and punitive terrorism judgments against Iran. Jurisdiction over Tether rests on its New York-based reserves managed through Cantor Fitzgerald. U.S. terrorism judgment creditors filed a motion in Manhattan federal court Thursday, seeking the turnover of over $344 million in USDT. The frozen funds are held in OFAC-blocked wallet addresses linked to Iran’s Islamic Revolutionary Guard Corps. The plaintiffs want Tether to zero out those balances and reissue equivalent tokens to them. The case could set a notable precedent for crypto asset enforcement in terrorism-related judgments.
A user lost 6,000 XRP after falling for a scheme that promised to double their funds. That case is one of several being reported as scammers step up their efforts against XRP Ledger users, prompting a public warning from Ripple’s former chief technology officer. Related Reading: Bitcoin Faces Major Test As 37% Recovery Collides With Bear Resistance Fake Offers Hiding In Plain Sight David Schwartz, known online as JoelKatz, posted the alert on X after what he described as a sharp rise in fake airdrop and giveaway activity. He warned that nearly all such offers seen across social platforms are fraudulent, and that anyone claiming to be him on Instagram, Telegram, or similar apps is almost certainly running a scam. The warning came alongside reports from others in the XRP space. XRPL blockchain explorer Bithomp flagged a specific trick where scammers send unsolicited NFTs to user wallets. SCAM ALERT: There has been a huge escalation lately in airdrop and giveaway scams targetting XRPL use
