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Misappropriation Cryptocurrency

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for April 2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s first “Shadow Trading” trial; •SCOTUS’s...more

Kohn, Kohn & Colapinto LLP

Crypto Fraud Remains Focus of CFTC Whistleblower Program

For the second straight year, the majority of whistleblower tips received by the Commodity Futures Trading Commission (CFTC) Whistleblower Program were related to cryptocurrency fraud. On October 31, the CFTC released its...more

Perkins Coie

SEC Spotlights Crypto With New “Safeguarding Rule” Proposal

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On February 15, 2023, the U.S. Securities and Exchange Commission (SEC) published sweeping and controversial proposed amendments to Rule 206(4)-2 (Custody Rule) under the Investment Advisers Act of 1940 (Advisers Act). Last...more

Seward & Kissel LLP

Not So Silver Lining, Weird Science, F is for Fraud, and Alex Jones Under the Microscope

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Below is our initial take on recent bankruptcy-related developments: Silvergate reported a $1 billion loss for the fourth quarter and said it is unable to meet an extended March 16 deadline for submitting its annual...more

Nelson Mullins Riley & Scarborough LLP

U.S. Regulators File Complaints for Digital Asset Market Manipulation and Misappropriation

The U.S. Commodity Futures Trading Commission (CFTC) filed a complaint on Jan. 9, 2023, in the U.S. District Court for the Southern District of New York against Avraham Eisenberg. The U.S. Securities and Exchange Commission...more

Farrell Fritz, P.C.

Commercial Division Grants $1 Million Punitive-Damage Award for Diversion of Company’s IP in Breach of Fiduciary Duty

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A recent decision from the Manhattan Commercial Division reminds us that although punitive damages are generally not recoverable in New York, certain circumstances require that they be awarded. In Hall v Middleton,...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for December 2022

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important and interesting SEC enforcement developments from the past month, with links to primary...more

The Volkov Law Group

The Department of Justice Charges FTX CEO Sam Bankman-Fried in the Southern District of New York (II of IV)

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Following FTX’s stunning collapse, federal prosecutors have quickly taken steps to hold FTX’s founder and CEO Sam Bankman-Fried (“SBF”) accountable. On December 13, the Department of Justice (“DOJ”) announced a criminal...more

Hogan Lovells

NFT at your service – English court grants service of proceedings by blockchain

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For the first time, the English court has granted permission for service of proceedings to be effected by non-fungible token (NFT) on the blockchain. The option to serve by NFT may be vital for victims of cryptocurrency fraud...more

Dechert LLP

SEC Brings First-Ever Insider Trading Action Involving Digital Assets in Parallel Civil Suit to SDNY’s Criminal Indictment

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The Securities and Exchange Commission (the “SEC”) on July 21, 2022, filed a complaint (the “SEC Complaint”) alleging insider trading violations against an insider, his brother, and a friend, claiming that the trio engaged in...more

Foodman CPAs & Advisors

¿Víctima De Cripto-Fraude? Un Contador Forense Puede Ser Capaz De Ayudar

Los inversionistas en el espacio de cripto deben estar conscientes de que el cripto-fraude existe en el espacio criptográfico de la misma manera que existe y tiene lugar en el espacio fiduciario tradicional. Los...more

Orrick - Finance 20/20

FinCEN Urges Financial Institutions to Focus on Detecting Proceeds of Foreign Public Corruption

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The Financial Crimes Enforcement Network (“FinCEN”) recently issued an advisory urging financial institutions (including certain cryptocurrency businesses) to implement controls to help detect proceeds of foreign public...more

Dechert LLP

Bitcoin fraud: the English Court grants extensive interim remedies to protect investors

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The English High Court has granted a combination of powerful remedies including worldwide freezing orders in favour of a UK resident who fell victim to persons unknown operating a suspected cryptocurrency investment scam....more

Goodwin

Litigation Insights - July 2021

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FOREWORD - On behalf of the new and expanding Goodwin London litigation team I am delighted to welcome you to our first ever ‘Litigation Insights’: a series of quarterly updates on important and interesting developments...more

Robins Kaplan LLP

Financial Daily Dose 1.14.2021 | Top Story: Intel Ousts CEO Robert Swan After Just Two Years

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Intel has ousted CEO Robert Swan “as the company faces pressure from an activist investor and grapples with the loss of leadership in producing ultrafast chips.” Swan had been at the helm since January 2019...more

Polsinelli

Charles Ponzi Fans Abound - SEC Charges Maryland Cyrptocurrency Ponzi Scheme

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The U.S. Securities and Exchange Commission (SEC) recently charged two Maryland companies and their executives in a scheme that allegedly defrauded approximately 1,200 investors of more than $27 million.  ...more

Eversheds Sutherland (US) LLP

Cryptocurrency misappropriation, hacking, theft and fraud on target for banner year

According to one blockchain and cryptocurrency security firm, this year is on pace to be the second highest in cryptocurrency theft, hacking and fraud, with January through May 2020 already seeing $1.36 billion stolen in...more

Hogan Lovells

CFTC charges Colorado man with fraud in digital asset-linked Ponzi scheme

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The U.S. Commodity Futures Trading Commission (CFTC) has charged a man from Colorado with fraud and failing to register with it in respect of a scheme that involved Ponzi-type payments....more

White & Case LLP

CFTC Jurisdiction Over Cryptocurrency – Implications for Industry Participants

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On October 10, 2019, CFTC Chairman Heath Tarbert commented on Ether’s status as a commodity: “We’ve been very clear on bitcoin: bitcoin is a commodity under the Commodity Exchange Act. We haven’t said anything about Ether –...more

Perkins Coie

Blockchain Week in Review - May 2019 #3

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U.S. Developments - Regulatory Updates - SEC Files Enforcement Action Against Alleged Fraudulent Cryptocurrency Pyramid Scheme - On May 22, the Securities and Exchange Commission (“SEC”) filed a complaint in the U.S....more

Skadden, Arps, Slate, Meagher & Flom LLP

The Distributed Ledger: Blockchain, Digital Assets and Smart Contracts

This is the inaugural issue of The Distributed Ledger, a periodic publication covering the latest trends and developments in blockchain technology, digital assets and smart contracts. In this edition, we examine a federal...more

Orrick - Trade Secrets Group

Kittens, Stephen Curry, And Cryptocurrency: This Trade Secrets Case Has It All.

What do kittens, three-time NBA Finals champion Stephen Curry, and cryptocurrency have in common? On May 7, 2018, a subsidiary of Launch Labs, a Canadian corporation doing business as Axiom Zen, released cryptocollectibles...more

Hogan Lovells

US court orders operator of fraudulent crypto scheme to pay £1.9 million

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What has happened? A US federal court has ordered Dillon Michael Dean and his UK-registered company, The Entrepreneurs Headquarters Ltd (TEH), to pay over $1.9 million in "civil monetary penalties and restitution"....more

Fenwick & West LLP

Intellectual Property Bulletin - Spring 2018

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Bitcoin is often portrayed as an untraceable method of payment that facilitates illicit activities by enabling criminals to make and receive payments without being tracked. This depiction implies that users transacting in...more

Proskauer - Blockchain and the Law

Federal Court Grants Preliminary Injunction, Affirms CFTC Jurisdiction over Virtual Currencies

Earlier this month, Judge Jack B. Weinstein of the U.S. District Court for the Eastern District of New York entered a preliminary injunction order against Patrick McDonnell and his company, CabbageTech, Corp. (together, the...more

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