Mastermind of Bitcoin Mining Ponzi Scheme Extradited to the US: $20 Million in Victims’ Funds Laundered

The US government says it has extradited Gutemberg Dos Santos, the co-founder of the Airbit Club Ponzi scheme from Panama and he now awaits his trial in a Manhattan court. Dos Santos is facing charges relating to his role in perpetuating a “cryptocurrency” scam which defrauded victims of “tens of millions of dollars.” Fraudulent Claims According to the US Department of Justice (DOJ), Dos Santos and five accomplices are accused of falsely promising victims that they will earn passive income from cryptocurrency mining. However, investigations found that “no bitcoin mining…

Over 5,000 Bitcoin Worth $97 Million from the 2016 Bitfinex Hack Spring Into Action

As bitcoin surpassed its 2017 all-time high on Monday morning, a few hours later 5,045 BTC or $97 million worth of bitcoin from the 2016 Bitfinex hack was transferred. The hackers that stole the funds four years ago have moved the bitcoins numerous times this year. The hackers that stole 119,756 BTC from the cryptocurrency exchange Bitfinex on August 2, 2016, have moved a number of stolen coins in 2020. The coins that were taken over four years ago are now worth around $2.3 billion using today’s exchange rates. Following…

Guggenheim Investment Fund to Invest $497 Million in Grayscale’s GBTC Seeking Bitcoin Exposure

Guggenheim’s billion-dollar Marco Opportunities Fund (MOF) may seek indirect exposure to BTC through the investment of 10% of its net asset value into Grayscale’s BTC Trust (GBTC). The investment (when complete) means MOF will have committed as much as $497 million into the GBTC. In a November 27 amended prospectus filing with the U.S. SEC, Guggenheim explains the rationale for seeking indirect exposure to BTC. According to the explanation, Guggenheim’s MOF wants to achieve its investment objective by “investing in a wide range of fixed-income and other debt and equity…

PS5 Scalpers Brag £1 Million Profit Flipping Next-Gen Consoles

Sony’s PS5 console, launched on Nov. 12/Nov. 19, is in short supply, with many would-be owners struggling to secure a purchase. A scalper group obtained nearly 3,500 units from pre-orders and limited launch day stock. The group boasts a profit of over £1 million from reselling the PS5. If you’re wondering why you haven’t managed to secure a PS5 from a retailer, then we may have an explanation. A reselling group based UK boasts banking over £1 million for its members from the resale of Sony’s freshly-launched next-gen PS5. The…

Poker Site Buys $100 Million of Bitcoin Every Month to Pay Players in BTC

A major online poker website has been buying millions of dollars of bitcoin every day to meet demand from players wanting to cash out in bitcoin. This amounts to $100 million in bitcoin a month as about 95% of players now demand payouts in the cryptocurrency. Poker Site Buys $100 Million of Bitcoin Demand for bitcoin payouts has been rising, particularly after the recent price rally. One of the largest online poker websites, Winning Poker Network (WPN), has been buying millions of dollars worth of bitcoin in recent weeks from…

Western Union Acquires 15% Stake in Stc Pay via $200 Million Investment

Western Union is confident that stc pay is poised for expansion and further growth in the future. American financial services The Western Union Company (NYSE: WU) has agreed with Saudi Telecom Company to acquire 15% stake in stc pay. The Western Union Company announced the $200 million worth investment on the 22nd of November. Expectedly, the deal should close in the first quarter of 2021.  Western Union chief executive officer Hikmet Ersek expressed his pleasure over the company’s digital growth strategy in 2020. In 2020, digital partnerships fueled Western Union growth. The…

Institutional Stock Up Could Push BTC to $1 Million

Experts and analysts believe that BTC price growth has become possible thanks to the increasing adoption of Bitcoin by numerous firms. Bitcoin (BTC) price is currently making impressive moves as the premier digital currency is seeing some of its greatest adoptions since it made an entry into the world back in 2009. According to a report from Express.co.uk, the belief that Bitcoin price could skyrocket to more than $1 million is championed by one of Bitcoin’s early proponents Max Keiser. Max Keiser’s stance on the possible moon ride of Bitcoin…

$pickle in a pickle as attacker swipes $20 million in “evil jar” exploit

In yet another attack on a major decentralized finance (DeFi) protocol, farming project Pickle Finance has been exploited today to the tune of $20 million.  The attack transpired roughly two hours ago, and ETH-savvy Twitter users were quick to notice that pickle’s cDAI jar — Pickle’s term for a yield-bearing vault — had been emptied: I think @picklefinance‘s cDAI jar just got attacked and drained. https://t.co/Lxwi2dWSSZ pic.twitter.com/nUBE1KjEPh — mattyb (@mattybchats) November 21, 2020 Unlike other recent attacks however, this particular exploit did not feature flashloans — an increasingly maligned DeFi…

Crypto hedge fund Pantera Capital files for massive $134 million raise

In a filing with the SEC yesterday, Bitcoin hedge fund giant Pantera Capital announced an equity offering of up to $134 million — among the largest capital fundraising efforts in the seven year history of the firm.  Formed in 2013 as the first-ever Bitcoin fund in the United States, Pantera initially raised a comparatively measly $13 million, and later $25 million, according to reporting from Cointelegraph. But in 2018, the fund directed its efforts towards a larger raise that would result in the formation of a third investment fund, dubbed…

Chainalysis to Raise $100 Million at $1 Billion Valuation

Chainalysis valuation and growth are not common in the crypto space as the $1 billion valuation is quite rare and particular for a blockchain data analytics service firm. Blockchain analysis company Chainalysis is set to increase its valuation to $1 billion following its next scheduled Series C funding round that will come as early as next. According to a report by Forbes, the new Chainalysis funding round is set to be led by Addition, a new Venture Capital firm founded by Lee Fixel. According to Forbes, the Series C funding…