Over the past week, news broke detailing that Oz Yosef, an executive of the mysterious firm Crypto Capital, has been indicted by the United States for conspiracy to commit bank fraud and conspiracy to operate an unlicensed money transfer service. The news came just days after Crypto Capital’s president, Ivan Manuel Molina Lee, was arrested by Polish authorities on suspicion of laundering roughly $350 million worth of funds from illegal proceeds and having ties to a transnational drug cartel. According to local reports, the arrested was tied to $350 million worth of funds previously seized by the Polish Ministry of …

The United States Attorney for the Southern District of New York has indicted Crypto Capital executive Oz Yosef on three criminal counts. An Oct. 23 court filing obtained by Cointelegraph confirmed that Oz Yosef has been indicted by U.S. authorities on conspiracy to commit bank fraud, bank fraud and conspiracy to operate an unlicensed money transmitting business. Crypto Capital allegedly mislead Bitfinex The filing would appear to confirm allegations from cryptocurrency exchange Bitfinex, which in a recent statement tried to establish itself as a victim of fraud regarding Crypto Capital — its former payments processor. On April 25, the New …

Over the past week, the global crypto community bore witness to a unique case wherein California resident and blockchain entrepreneur Seth Shapiro filed a lawsuit against American telecom giant AT&T — alleging that a couple of the firm’s employees had perpetrated a nefarious SIM-swap scheme that resulted in the former losing $1.8 million in various crypto assets. Shapiro, who is a two-time Emmy Award-winner, as well as an author and adjunct professor at the University of Southern California School of Cinematic Arts, filed the aforementioned lawsuit against AT&T on Oct. 17, claiming that between May 16, 2018 and May 18, …

Major global crypto exchange Bitfinex has called itself a “victim of a fraud” in response to the recent arrest of the president of Crypto Capital exchange. Bitfinex will continue to recover lost funds Following the arrest report on Oct. 24, Cointelegraph received a response statement from Stuart Hoegner, Bitfinex's general counsel, on Oct. 25. The statement seeks to establish the company as a “victim of fraud” and to deny potential accusations of illegal activity by Bitfinex. In the statement, Bitfinex claimed that any allegation that Crypto Capital, which is a former Bitfinex’s payment processor, laundered any illicit funds upon request …

Ivan Manuel Molina Lee, the president of controversial Panama-based payments processor Crypto Capital tied to Bitfinex and other major cryptocurrency exchanges, was arrested by Polish authorities. According to local news outlet wPolityce’s report published on Oct. 24, he is suspected of money laundering and being involved in an international drug cartel. Laundering drug cartels’ money Per the article, Molina Lee was detained on the basis of an European Arrest Warrant issued by the prosecutor's office in Wrocław. His arrest is reportedly connected to $350 million that were seized by the Polish Ministry of Justice previously. Notably, these seized funds belonged …

IFinex, the parent company of major cryptocurrency exchange Bitfinex filed a discovery application to regain access to $880 million in funds. Discovery is a law allowing each party to obtain evidence from the other party or parties through the law of civil procedure before the actual trial. According to the application and supporting declaration by Bitfinex chief financial officer Giancarlo Devasini uploaded by industry news outlet The Block on Oct. 20, the firm filed the document in the Southern California district court on Oct. 18. The request is related to the purportedly inaccessible funds kept in bank accounts in Poland, …

Cryptocurrency exchange Bitfinex has announced the latest updates and optimizations to its mobile app. New version features support for derivatives trading On Oct. 11, cryptocurrency trading platform Bitfinex presented the newest version of the Bitfinex mobile app, which includes derivatives trading support as well as in-app access to Bitfinex Reports 2.0. Version 3.19.3 of the Bitfinex mobile application features support for derivatives, including pairs, charts, order form with a leverage slider, order history and positions. Users of the updated mobile app can now also gain access through an in-app browser to Bitfinex’s Reports 2.0, where they can instantly compile an …

At the start of October, New York-based legal firm Roche Freedman filed a new class-action lawsuit against stablecoin firm Tether and digital currency exchange Bitfinex. The case accuses the aforementioned entities of manipulating the market by using a host of sophisticated schemes that involved fraud, pump-and-dump schemes, as well as certain money laundering-related ploys. As a result of this legal drama, the USDT/BTC trade pair has witnessed a substantial decline in its market value (around 10% as of press time). USDT/BTC price over the last seven days As per the lawsuit, the legal team over at Roche Freedman has argued …

Kim Dotcom, the controversial internet entrepreneur and founder of the now-defunct file storage platform Megaupload, is making a comeback in the digital content business. This time, instead of a platform that allows users to download copyright songs and television series, Dotcom plans to use blockchain technology to create a fair digital content distribution market called K.IM. According to K.IM’s white paper, the proposed project is pitched as a dynamic ecosystem that is “aimed to become the easiest and the most secure way to generate revenue with digital content.” The project plans to facilitate consumer and publisher transactions while cutting out …

A New York-based legal firm has filed a lawsuit against Tether and Bitfinex, accusing them of cryptocurrency market manipulation. “Largest bubble in history” Roche Freedman filed a class-action suit alleging that the stablecoin firm and affiliated crypto exchange have been involved in defrauding investors, manipulating markets and concealing illicit proceeds, the firm’s founding partner Kyle Roche tweeted on Oct. 7. In the tweet, Roche accused Tether and Bitfinex of creating the “largest bubble in history.” Filed on Oct. 6, the complaint document states that Bitfinex and Tether primarily accomplished a “sophisticated scheme” involving “part-fraud, part-pump-and-dump, and part-money laundering.” Suit alleges …

Cryptocurrency exchange Bitfinex in conjunction with EOSFinex, its decentralized trading platform, have announced that they had successfully completed a “chainswap” to convert $5 million worth of Tether (USDT) stablecoins onto the EOS blockchain protocol. According to a press release shared with Cointelegraph on Oct. 5, this way the companies aim to “provide the EOS DApp ecosystem with a stable and liquid store of value to reduce the risks pertaining to digital assets' volatility.” Bitfinex CTO Paolo Ardoino added: “Promising projects aren’t getting the light of day with current congestion and volatility issues on other chains, and that is why there’s …

Stablecoin firm Tether and its affiliate exchange Bitfinex anticipate a lawsuit alleging that Tether token (USDT) is involved in market manipulation as the result of an unpublished paper. Tether and Bitfinex to defend its position On Oct. 5, both Tether and Bitfinex published statements claiming that they had become aware of an unreleased paper “falsely positing that Tether issuances are responsible for manipulating the cryptocurrency market.” Both firms argued that findings and conclusions claimed by that unpublished source relies on “flawed assumptions, incomplete and cherry-picked data, and faulty methodology.” Both announcements likewise refer to the paper as “non-peer reviewed.” Tether …