Nigerian P2P Crypto Trader Convicted and Fined in Pig Butchering Scam Case
A Nigerian court has convicted and fined a peer-to-peer (P2P) cryptocurrency trader who was accused of operating a pig butchering scam. The trader, Lawrence Success Karinate, was found guilty of computer-related fraud, and the court ruled that he must pay a fine equivalent to $257.90 or N200,000. ...
Brazilian Court Imposes Fine on Crypto Pyramid Scheme Organizer Instead of Prison
A Brazilian court has given the organizer of the crypto pyramid scheme Mirror Trading International (MTI) a monetary fine instead of the three and a half years in prison he was expecting. The court found Johann Steynberg guilty of using forged identity documents. Although Steinberg was sentenced ...
BitFlyer USA Fined $1.2 Million for Cybersecurity Violations
This is the decision issued by U.S. regulator NYDFS The reason is a violation of cybersecurity rules Cryptocurrency exchange has promised to "work on the errors" Cryptocurrency exchange BitFlyer USA received a fine from the New York Department of Fina ...
Poloniex to Pay $7.6 Million Fine for Violating U.S. Sanctions
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced an agreement with Poloniex exchange management. The site will pay a $7.6 million fine for violating sanctions. According to the regulator, the cryptocurrency ...
Belarus fines foreigner for running illegal cryptocurrency exchange
The Ministry of Internal Affairs of Belarus reported a new offense in the field of cryptocurrencies - a citizen of another country opened a digital asset exchange in Minsk and now the young man faces a fine. A 22-year-old foreigner organized a cryptocurrency exchanger, sp ...
Poloniex to pay $7.59 million fine for violating OFAC sanctions
The exchange continued to provide services to customers from the sub-sanctioned jurisdictions The list of such includes temporarily occupied Crimea The company "settled," admitted guilt and will pay a fine Foreign Assets Control Authority (OFAC) publi ...
SEC Fines Coinme and Up Global for Misleading Investors in UpToken ICO
The U.S. Securities and Exchange Commission (SEC) fined two companies at once, Coinme and Up Global, in the case of the initial coin offering of the cryptocurrency asset UpToken. Commission claims Coinme and Up Global misled investors during 2017 ICO. Regulator insists: C ...
CFTC Fines CEO of Cryptocurrency Pyramid Scheme $3.4 Billion
The U.S. Commodity Futures Trading Commission (CFTC) imposed a $3.4 billion fine on the CEO of cryptocurrency pyramid scheme Mirror Trading, Cornelius Johannes Steinberg. A statement from the regulator alleges that Cornelius Johannes Stey ...