CFTC-PR-8938-24 (Aug. 8, 2024) CFTC Obtains $12.7 Billion Judgment Against FTX and Alameda – Restitution and Disgorgement Damages to Pay Fraud Victims. Washington, D.C. — The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of New York entered a consent order of permanent injunction and other equitable relief against FTX Trading […]
Category: Digital Asset Marketplace
The Digital Asset Marketplace is a virtual platform where individuals and institutions can buy, sell, and trade digital assets such as cryptocurrencies, non-fungible tokens (NFTs), and other blockchain-based assets. This marketplace operates similarly to traditional financial markets but within the digital realm, providing liquidity and opportunities for investment in emerging technologies. Fraud in this space can manifest in various forms, including phishing attacks targeting users’ private keys, pump-and-dump schemes where asset prices are artificially inflated and then sold off, and scams involving fake initial coin offerings (ICOs) or fraudulent NFT projects that deceive investors into purchasing non-existent or worthless assets. Such fraudulent activities exploit the relative novelty and lack of regulation in the digital asset space, often leading to significant financial losses for unsuspecting participants.
Resources:
- CFTC – Investor Alert
USSS – Combating the illicit use of digital assets
IRS – Digital Assets
SEC – Investor Alert – Digital Asset and “Crypto” Investment Scams
CFTC-PR-8939-24 (Aug. 8, 2024) CFTC Awards Over $1 Million to Whistleblower Who Aided a Digital Assets-Related Investigation Washington, D.C. — The Commodity Futures Trading Commission today announced a whistleblower award of over $1 million to a whistleblower who provided significant information and assistance that led the CFTC to bring an enforcement action connected to digital asset […]
CFTC-PR-8884-24 Commodity Futures Trading Commission Charges KuCoin with Operating Illegal Digital Asset Derivatives Exchange Date: Mar. 26,2024 Date Accessed: Aug. 1, 2024 Source URL: https://www.cftc.gov/PressRoom/PressReleases/8884-24 Categories: CFTC-2403 Digital Asset Derivatives Exchange Digital Asset Fraud MEK GLOBAL LIMITED PHOENIXFIN PTE LTD FLASHDOT LIMITED PEKEN GLOBAL LIMITED KUCOIN PDF Notes: The PDF viewer below disables the links inside the […]
CFTC-PR-8850-24 CFTC Charges Bogus Digital Asset Platform with Fraud and Misappropriation in an Online Romance Scam. Five Victims Lost $2.3 Million to Con Targeting Asian Americans. Date: Jan. 19, 2024 Date Accessed: Aug. 1, 2024 Source URL: https://www.cftc.gov/PressRoom/PressReleases/8850-24 Categories: CFTC-2401 Affinity Fraud Bogus Trading Platforms Digital Asset Fraud Frauds Targeting Asian Americans Romance Scams DEBIEX PDF […]