DoJ emblem and handcuffs

Three Charged With Orchestrating a $400 Million SIM-Swapping Scam On FTX

The Department of Justice (DOJ) has taken decisive action by charging three individuals allegedly involved in a sophisticated SIM-swapping scheme that specifically targeted the now-defunct cryptocurrency exchange FTX. This intricate plot resulted in the unlawful extraction of more than $400 million from the beleaguered exchange. The orchestrated attack unfolded during a critical period for FTX, as it grappled with financial instability, ultimately culminating in the filing for bankruptcy in November 2022 and the resignation of its founder, Sam Bankman-Fried. The charges shed light on the severity of the cybercrime, revealing a strategic effort to exploit vulnerabilities in FTX’s security measures during a tumultuous phase for the cryptocurrency exchange.

Continue Reading...
Hi Yi and DoJ logo

Binance Co-Founder He Yi Holds 10% Stake, Stays On Despite DOJ Pressure

He Yi, the co-founder and chief marketing officer of Binance, holds at least 10% of the company’s shares, according to a report by The Wall Street Journal. She has been a key player in Binance’s global expansion and public relations, as well as its controversies.

Continue Reading...