Crypto ‘Godfather’ Gets 78 Months For $37M Meta Fraud Scheme
TL;DR Adam Iza, who called himself “The Godfather,” has been sentenced to 78 months in federal prison. Prosecutors said he stole more than $37 million from Meta through fraud involving access to business-manager accounts and credit lines. The court also ordered more than $23.4 million in restitution; Meta was a victim of the scheme, not…
US Charges Man After Crypto Scam Wallets Received More Than $53M
TL;DR U.S. prosecutors have charged a Vietnamese national with money laundering tied to alleged cryptocurrency “pig butchering” schemes. Prosecutors say wallets controlled by the defendant received roughly $53.3 million linked to fraud schemes targeting U.S. victims. One victim allegedly transferred about $16 million after being directed to a fake crypto investment platform. U.S. prosecutors have…
DOJ Seizes Huione Cloud Backbone In Crypto Scam Money-Laundering Crackdown
TL;DR The U.S. Justice Department says it seized backend cloud infrastructure tied to Huione Group money-laundering services. Authorities linked the infrastructure to a broader ecosystem of scam payments, laundering and cybercrime activity. The action is a reminder that crypto enforcement is increasingly targeting infrastructure, not only wallets and exchanges. U.S. Authorities Target The Infrastructure Layer…
Turbo Team Selling After The AI Meme Coin Flies To New All-Time High: Time To Exit?
Turbo is trending at around all-time highs. The upswing started in mid-September and initiated a move up that saw the AI meme coin break above local resistances, which is now supported and propelling valuation to record highs. At press time, TURBO is changing hands at $0.010 but is down nearly 20% from this week’s highs.…