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Cryptocurrency News Articles
The Shib's News Roundup: Corruption Within Law Enforcement, High-Profile Crypto Schemes, Personal and Community Impact of Crypto Scams, and Shifting Trends in the Global Crypto Landscape
Oct 10, 2024 at 03:44 am
We have arrived at the mid-week analysis of the cryptocurrency sector. Today, The Shib's news roundup highlights corruption within law enforcement, high-profile crypto schemes, personal and community impact of crypto scams, and shifting trends in the global crypto landscape.
The cryptocurrency sector has reached the mid-week analysis point. Today, The Shib’s news covers corruption in law enforcement, high-profile crypto scams, the personal and community impact of crypto scams, and shifting trends in the global crypto landscape.
Former Chief Investigator Gets 16 Years for Bitcoin Bribe in Russia
A former chief investigator in Russia, Marat Tambiyev, has been sentenced to 16 years in prison for accepting a Bitcoin (BTC) bribe from hackers, to the tune of $65 million. His case is part of a major corruption scandal within the Investigative Committee of Russia. Investigations into Tambiyev began last year and uncovered his acceptance of bribes from the Infraud Organization. This issue highlights the ongoing corruption in Russian law enforcement agencies that are tasked with combating cybercrime. A colleague of Tambiyev’s was also arrested.
The bribe, which was paid through anonymous Bitcoin transactions, marks one of the largest bribes ever recorded for a Russian official. The hackers sought to pay Tambiyev to prevent the confiscation of their illegal assets, with evidence of his corruption dating back several years.
‘Crypto Queen’ in Russia Accused of Crypto Fraud, $1 Million Cash Transfers
Valeria Fedyakina, known as the “Crypto Queen” or “Bitmama,” is being investigated for cryptocurrency fraud in Russia. She allegedly handled large cash transfers via Bitcoin, taking money from clients and transferring it primarily to Dubai. An exposé by Russian TV channel Vesti showed videos of her with suitcases full of cash related to her schemes. Authorities allege she provided crypto exchange services, with one victim stating she assured them of secure cash transfers to her Dubai office. Reports indicate that suitcases could carry as much as $1 million for these exchanges. Fedyakina also reportedly persuaded affluent clients to invest in non-existent projects, including Dubai hotels and oil businesses. She faces a potential 10-year prison sentence if found guilty.
Fraudulent Crypto Scams on the Rise: KOK Token, La China Leave Thousands of Investors Scammed
Chosun Ilbo, the largest newspaper in South Korea, is being accused of promoting a cryptocurrency scam that led to nearly $3 billion in losses. A post from IBC Group on X claimed that subsidiaries of the paper gave the KOK token positive reviews and accolades, which misled many investors into believing it was a safe investment.
A disgruntled investor who lost $100,000 in the KOK token said that the coverage by the newspaper gave them the false impression that it was a credible investment. The KOK token has dropped from a high of 6.83 to just 0.0003, and investors are now demanding answers. The newspaper has yet to comment on the situation.
In other news, around 20,000 residents of San Pedro in Buenos Aires have fallen victim to a pyramid scheme called La China, which is linked to the Knight Consortium Foundation. The scheme promised high short-term returns through fake cryptocurrency investments, but it turned out to be a classic pyramid selling model. At least 50 victims have sought legal assistance due to potential losses. The scam began with a viral advertisement that promised returns of up to 2% daily in U.S. dollars. The community is left to deal with the aftermath and question the legitimacy of the foundation.
Canine Craze: SHIB, BONE Lead ‘Dog Week’ Hype as Analyst Predicts Major SHIB Price Breakout
Shiba Inu (SHIB) and Bone ShibaSwap (BONE) are gaining attention among crypto enthusiasts as leading “Hype Tokens” during a week of canine-themed assets. Cryptocurrency exchange ChangeNOW announced the trending tokens on X, referring to the event as “Dog Week.” In this lineup, SHIB secured the top spot, while BONE, the governance token for ShibaSwap and the gas fee token of Shibarium, followed closely in third place.
More good news for SHIB holders is that the coin may be on the verge of a major price breakout, according to leading crypto analyst Crypto Sheriff. In a recent post, they stated, “SHIB breakout loading,” and included a supporting chart in their analysis. Their analysis points to SHIB’s recent interactions with a declining trendline. The Binance exchange chart showed that SHIB’s price tested and eventually broke above this trendline. Such a pattern is often interpreted by traders as a sign of bullish momentum, suggesting that SHIB has overcome recent selling pressure and could experience a notable price increase. The chart’s indication of a rise in trading volume during the breakout adds further weight to this optimistic prediction for SHIB.
ShibaCon, a vision of Shiba Inu creator Ryoshi, is set to make history in Thailand. Join the movement and be a part of this landmark event in November. Tickets are now available at shibacon.shib.io.
Malaya holds positions in SHIB, ETH, USDT, MATIC, etc. This article is for informational purposes
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- HBO's 'Money Electric' Fails to Prove Peter Todd Is Bitcoin Creator Satoshi Nakamoto
- Oct 10, 2024 at 04:25 am
- In the new HBO documentary “Money Electric: The Bitcoin Mystery Documentary”, filmmaker Cullen Hobak posits that Peter Todd, a prominent Canadian Bitcoin core developer, is the elusive Bitcoin creator known as Satoshi Nakamoto. Despite the sensational claims, the evidence presented falls short of conclusive, leading to significant criticism from the BTC community.