Fraud

cryptocurrenc

2026-07-08 13:26:16

Tennessee Passes Universal Crypto ATM Ban, Kiosks Must Be Removed by July 1

Tennessee Governor Bill Lee signed HB 2505 on April 23, 2026, banning all cryptocurrency ATMs in the state, effective July 1. The bill passed unanimously in both chambers amid $142 million in crypto scam losses reported by the FBI in 2025.

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SEC

2026-07-02 21:00:14

SEC Charges Bitcoin Miner Founder for Defrauding Investors of $48.5 Million

The U.S. Securities and Exchange Commission has filed a lawsuit against Danh C. Vo, founder and CEO of Bitcoin mining company VBit Technologies Corp., alleging he defrauded investors out of $48.5 million. According to the SEC, Vo raised over $95.6 million from approximately 6,400 investors between December 2018 and February 2022 by selling 'hosting agreements' that promised a share of Bitcoin mining profits. However, he misrepresented the number of operational mining rigs and misused funds for gambling, cryptocurrency purchases, and gifts to family members. Vo allegedly transferred $5 million to relatives and left the U.S. after his divorce. The SEC is seeking disgorgement, civil penalties, and a ban on Vo from future securities offerings. The case highlights ongoing congressional efforts to combat crypto scams and serves as a warning for investors to verify passive income claims.

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Donald Trump

2026-07-02 18:45:14

Trump Says No Pardon for Sam Bankman-Fried, Ending Crypto Clemency Speculation

In an interview with The New York Times, President Donald Trump stated he has no intention of pardoning Sam Bankman-Fried, the former FTX CEO serving a 25-year prison sentence for one of the largest financial frauds in U.S. history. Since his conviction, Bankman-Fried and his allies have pursued multiple avenues to soften his image and open doors for clemency, including a jailhouse interview with Tucker Carlson, letters from his parents, and public signals of political realignment. However, Trump's refusal underscores that the SBF case, driven by customer losses and internal FTX records, does not fit the 'weaponized Justice Department' narrative. Notably, Trump did pardon Binance founder Changpeng Zhao in October 2025, framing it as ending the 'war on cryptocurrency,' but SBF's situation remains distinct.

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Goliath Ventu

2026-07-01 08:20:49

Former Goliath Ventures CEO Pleads Guilty in $400M Crypto Ponzi Case, Forfeits Assets

前Goliath Ventures首席执行官Christopher Delgado承认欺诈和洗钱指控，同意没收包括房产、车辆、奢侈品和加密钱包在内的资产。该案涉及约4亿美元的加密庞氏骗局，再次凸显加密行业监管与司法追责的力度。

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SEC

2026-06-30 10:24:01

SEC Wins Social Engineering Fraud Case: NanoBit Ordered to Pay $5.5M, Funds Funneled to Hong Kong

The U.S. Securities and Exchange Commission announced today that a federal court in the Eastern District of New York has ordered NanoBit Limited and five related defendants to pay a total of $5,518,902 in disgorgement, prejudgment interest, and civil penalties. From September 2023 to June 2024, the scheme's participants posed as financial professionals in WhatsApp groups, built trust with investors, and directed them to deposit funds into NanoBit. Investor funds were not traded but instead transferred to bank accounts in Hong Kong. The ring also sent over $2 million overseas and misappropriated hundreds of thousands of dollars in crypto assets. The case highlights the persistent threat of social engineering in crypto fraud and warns investors to avoid investment opportunities touted on informal channels.

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NanoBit

2026-06-30 10:24:01

New York Court Orders NanoBit to Pay Over $5.5 Million in Disgorgement and Penalties for WhatsApp Investment Fraud

The U.S. Securities and Exchange Commission (SEC) announced that the U.S. District Court for the Eastern District of New York has entered a final judgment against NanoBit Limited and five related defendants, ordering them to pay a total of $5,518,902 in disgorgement, prejudgment interest, and civil penalties. The fraudulent scheme operated from September 2023 to June 2024, where participants impersonated financial professionals in WhatsApp groups, building trust with investors and directing them to deposit funds into NanoBit. Investor funds were never traded but instead transferred to Hong Kong bank accounts. Over $2 million was sent overseas, and hundreds of thousands of dollars in crypto assets were misappropriated. The case highlights the prevalence of social media-driven crypto scams and the SEC's continued enforcement focus on cross-border investment fraud.

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ACE Exchange

2026-06-30 10:20:14

Taiwan's ACE Exchange Former Head and Partner Arrested for Fraud, Seizing Over NT$200 Million; Victims Defrauded Over NT$1 Billion

The former head of Taiwan's leading crypto exchange ACE (ACE Fa Bi Jia Mi Huo Bi Jiao Yi Suo), Pan, and his partner Lin, have been arrested on charges of fraud, money laundering, and violations of the Banking Act. Police seized cash and crypto assets totaling over NT$200 million (approx. US$6.4 million), with estimated total defrauded amount exceeding NT$1 billion over three years. Lin allegedly used social media to promote scam tokens such as MOCT, NFTC, and BNAT, while Pan facilitated their listing on ACE. ACE Exchange issued a statement claiming it cooperated as a witness and that operations remain unaffected. Separately, Taiwan's Financial Supervisory Commission (FSC) fined Hong Han Creative Company NT$500,000 for failing to submit anti-money laundering compliance statements, highlighting tightening regulatory scrutiny on crypto businesses in Taiwan.

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ACE Exchange

2026-06-30 10:00:14

Taiwan ACE Exchange Former Head Arrested for Fraud: Key Lessons for Crypto Investors

The former head of Taiwan's ACE Exchange, along with his partner, was arrested on charges including fraud, money laundering, and banking law violations. Police seized over NT$200 million (approx. US$6.4 million) in illicit proceeds, estimating the total scammed amount over three years to exceed NT$1 billion. The scheme involved promoting 'air coins' (MOCT, NFTC, BNAT) through social media ads and listing them on ACE Exchange, leveraging its brand trust. The exchange responded that it is cooperating as a witness and has delisted the disputed tokens. Separately, another entity, Honghan Creative, was fined NT$500,000 for failing to complete anti-money laundering compliance. This article breaks down the case and offers practical tips for investors to identify exchange listing risks and avoid crypto scams.

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