The U.S. Securities and Exchange Commission had on Monday charged 11 individuals for running a huge global crypto fraud. The accused were involved in creating and promoting a fraudulent crypto pyramid and Ponzi scheme that raised more than $300 million. The money was raised from millions of retail investors worldwide, including in the United States, the SEC said.
According to data shared by popular cryptocurrency whale tracking service, Whale Alert, over 172 million XRP have moved from two crypto exchanges to unknown wallets and vice versa in the last 24 hours.
The French cryptocurrency hardware wallet manufacturer Ledger is seeking to raise fresh new capital after raising $380 million in June 2021, according to sources familiar with the matter. The hardware wallet company Ledger is reportedly looking to raise at least $100 million from strategic investors.
Ethereum’s Vitalik Buterin Urges Founders To Speak Up Against Scams In Response To News Of SEC Suit Against Creators Of Fraudulent Ponzi Scheme Based On Smart Contracts.
The United Kingdom’s Financial Conduct Authority (FCA) recently instructed the companies involved in marketing high-risk investments to provide clearer and more prominent risk warnings to the public. It is also going to ban certain investment incentives like refer a friend bonus.
Regulators from New York City have recently jumped in to help investors who have been recently duped or burned by crypto firms. On Monday, August 1, New York Attorney General Letitia James issued an investor alert asking investors who feel cheated to contact her office.