The world is also becoming more dangerous for tech trillionaires. This was recently demonstrated by the guilty plea and prison sentence for Binance founder and CEO Changpengh Zhao. Now, Russian-French Telegram founder and CEO Pavel Durov is in prison. French authorities have extended his detention for up to 96 hours as part of a preliminary investigation into alleged offenses related to his messaging platform. Short Narrative: Pavel Durov, the founder of Telegram, was detained at Le Bourget Airport near Paris on August 24, 2024, under a warrant issued by France’s Office for Preventing Violence Against Minors (OFMIN). The charges include fraud, drug trafficking, cyberbullying, organized crime, and promotion of terrorism. French authorities have extended his detention to continue questioning, highlighting the seriousness of the investigation. Russia has expressed strong outrage, accusing France of double standards and demanding access to Durov, while public figures like Elon Musk have voiced their support for Durov under the hashtag #FreePavel. Key Details: Person of Interest: Telegram founder Pavel Durov Detention Extended: Durov’s detention could last up to 96 hours as French authorities continue their investigation. Russian Reaction: Russia accuses France of double standards and has demanded consular access, criticizing the lack of cooperation. Celebrity Support: Public figures, including Elon Musk, have shown support for Durov, framing the detention as an attack on free speech and digital rights. Telegram’s Stance: Telegram defends its moderation practices and insists Durov has nothing to hide, maintaining that their CEO frequently travels in Europe without issues. Actionable Insight: The French charges against Pavel Durov revolve around the alleged failure to moderate illegal activities on Telegram. This case could set a precedent for how governments regulate and enforce content moderation on social media platforms, potentially increasing pressure on tech companies to tighten their policies or face legal consequences. Read More: Full Article Link Whistleblower Request: If you have information about Telegram’s moderation practices or related legal issues, don’t hesitate to contact us securely via our whistleblower system, Whistle42. Your identity will be protected. Share Information with FinTelegram CategoriesCourt Cases tickerTagsElon MuskPavel DurovTelegram

The Russia-linked ransomware group Qilin is now stealing credentials stored in Google Chrome browsers, expanding its cyberattack reach. Qilin operates as a Ransomware-as-a-Service (RaaS) and purportedly has an attractive affiliate payment structure, with affiliates allegedly earning 85% of ransom payments. While the Qilin affiliates carry out the attacks, the Qilin people negotiate the ransom payment. Short Narrative: Ransomware attacks have become a significant threat to organizations worldwide, causing financial losses and operational disruptions. Qilin, a relatively new player in this cybercrime arena, has introduced a dangerous twist to ransomware tactics. By targeting Google Chrome credentials, the group is expanding the scope of their attacks beyond the initial ransomware demand. This strategy not only compromises the primary target but also threatens the broader network and data security, highlighting the evolving danger of ransomware groups and their innovative methods. Key Details: Attack Details: Qilin, linked to recent attacks on U.K. hospitals, was found stealing Chrome browser credentials from compromised networks. Tactics Used: Attackers accessed a VPN without multi-factor authentication, moved laterally, and deployed scripts to harvest Chrome-stored credentials. Security Flaw: The attack leveraged poor VPN security practices and the extensive use of Chrome for storing sensitive passwords. Potential Impact: Access to Chrome credentials could provide attackers with entry points to further exploits, posing risks beyond the initial ransomware attack. Actionable Insight: Organizations should enforce strict security measures, including multi-factor authentication and regular monitoring of credential storage practices, to defend against such evolving ransomware tactics. Read More: Darktrace background research on Qilin Whistleblower Request: If you have information about ransomware activities or security breaches, please get in touch with us securely via our whistleblower system, Whistle42. Your confidentiality is guaranteed. Share Information with FinTelegram CategoriesRansomware

On August 20, 2024, Joshua Cartu, 45, a prominent figure in the notorious Cartu Brothers‘ binary options fraud scheme, was detained in Russia. Court press service said Cartu was under an Interpol Red Notice due to accusations that he was part of a group that defrauded investors between 2013 and 2017. The Cartu Brothers operated the GreyMountain Management (GMM) Binary Options fraud scheme. On August 24, 2024, Cartu was released. Short Narrative On August 24, 2024, a Russian court in Saint Petersburg released Israeli-Canadian citizen Joshua Cartu, who had been detained earlier in the week at the request of the United States. Cartu, known as the “Ferrari fugitive” for his luxurious lifestyle and race car ventures, is accused of defrauding investors of over $200 million in a binary options scam operated primarily from Israel between 2013 and 2017. Despite being on an Interpol Red Notice, the court terminated proceedings against Cartu, citing a lack of an official extradition request from the U.S. Most recently, the fugitive former Wirecard board member Jan Marsalek found refuge in Russia. Russia is known for protecting people persecuted in the West. Perhaps Marsalek and Cartu will toast the release in Moscow. They should know each other, as Wirecard was one of the payment partners for the Cartu Brothers‘ GMM scheme. Key Details: Charges: Cartu and his brothers, David Cartu and Jonathan Cartu, are accused of orchestrating a $60 million fraud involving binary options. Detention and Release: Arrested by Interpol in Russia, Cartu was released after the court found no formal U.S. extradition request. Background: The binary options industry was banned in Israel in 2017 after numerous fraud cases involving global investors. Implications: Cartu’s release raises concerns about international cooperation on financial crimes, especially between countries without an extradition treaty. Read More: Read more in The Times of Moscow Read our report about Joshua Cartu (here) and GMM (here) Actionable Insight: The release of Cartu could complicate future efforts to extradite financial crime suspects, highlighting the need for stronger international agreements and regulatory measures. Whistleblower Request: If you have any information about binary options scams or related financial fraud, please contact us securely via our whistleblower system, Whistle42. Your identity will remain confidential. Share Information with FinTelegram CategoriesBinary Options Court CasesTagsGMMGreyMountain ManagementJan MarsalekJoshua CartuWirecard

Pavel Durov, the founder and CEO of Telegram, has long been a controversial figure in the tech world. Born in Russia in 1984, Durov first rose to prominence as the founder of VKontakte (VK), Russia’s largest social network. However, his refusal to comply with Kremlin demands to shut down opposition accounts on VK led to his departure from Russia in 2014. He sold his stake in VKontakte and subsequently launched Telegram, a messaging app that prioritizes privacy and free speech, attracting over 700 million users worldwide. Durov’s wealth has grown substantially alongside Telegram’s popularity. As of 2024, Bloomberg estimates his net worth at around $9.1 billion, primarily derived from his holdings in Telegram, founded in 2013. As of March 2024, the company had about 900 million monthly active users globally. The company is headquartered in the British Virgin Islands. In 2021, Durov also became a citizen of France. Despite offers from major tech companies to buy Telegram, Durov has remained committed to keeping the platform independent, funded mainly through personal investments and a recent token issuance under the Telegram Open Network (TON) initiative. Throughout his career, Durov has been involved in several notable events that have shaped his public persona. His defiance against Russian authorities in 2014 marked him as a staunch advocate for digital freedom. More recently, Telegram‘s role in global conflicts, including the Russia-Ukraine war and the Israel-Hamas conflict, has drawn both praise and criticism for its hands-off approach to content moderation. Durov’s arrest in France on August 19, 2024, at Le Bourget airport near Paris, has sent shockwaves through the tech community. French authorities detained him under a preliminary investigation into alleged criminal activities on Telegram, including fraud, drug trafficking, and organized crime. These accusations come at a time when Telegram is under intense scrutiny by European regulators due to the new Digital Services Act (DSA), which mandates stricter content moderation for large platforms. Durov’s relationship with Russia remains strained. Though he is no longer involved with VK and resides abroad, Western sanctions and his platform’s influence in Russia continue to complicate his standing. His arrest could signal a broader crackdown on messaging apps and social media platforms that resist regulatory compliance. The implications of Durov’s arrest for other digital platforms are significant. Durov’s arrest highlights the growing pressure on tech companies to enforce stricter content moderation policies or face legal consequences. As governments worldwide tighten digital communication regulations, platforms will need to balance user privacy with regulatory demands to avoid similar fates. Report Content Violations to FinTelegram CategoriesPeople RadarTagsPavel DurovTelegramVKVKontakte

Pavel Durov, 39, the founder and CEO of the popular messaging app Telegram, was arrested by French police on Saturday evening at Le Bourget airport near Paris. When apprehended under a French arrest warrant, he was traveling from Baku, Azerbaijan, on his private jet. He is accused of failing to take measures to curb the use of his platform for criminal purposes. Durov is expected to appear in court on Sunday to face these serious allegations. Short Narrative: On Saturday, the Russian-born Telegram CEO Pavel Durov was detained by French authorities as he disembarked his private jet at Le Bourget airport outside Paris. The arrest, reported by multiple outlets, is linked to a preliminary investigation into potential criminal activities facilitated through the Telegram app. The investigation focuses on posts related to fraud, drug trafficking, and organized crime, highlighting Telegram’s controversial stance on content moderation. Russia has accused France of “refusing to cooperate” and demanded access to Durov, but has not received a response from French authorities so far. Key Details: Reason for Arrest: Part of an investigation into criminal activities, including fraud and drug trafficking, on Telegram. Durov is being investigated as part of a preliminary inquiry led by France’s OFMIN (Office for Preventing Violence Against Minors). Platform Controversy: Telegram has resisted pressures to moderate content, facing scrutiny under the EU’s new Digital Services Act (DSA). Court Appearance: Durov is expected to appear in court on Sunday. Background: Durov, who left Russia in 2014 over censorship conflicts, is known for his stance on maintaining a platform with minimal moderation. Actionable Insight: This arrest could signal increased regulatory actions against tech leaders who resist content moderation, especially under new laws like the DSA in the EU. Read More: Read more about the arrest of Pavel Durov Learn more about Pavel Durov Whistleblower Request: If you have insights about Telegram’s content moderation or related issues, please contact us securely. Your identity will remain confidential. Share Information with FinTelegram CategoriesCourt Cases Cybercrime People Radar tickerTagsPavel DurovTelegram

Rosen Law Firm, a global investor rights law firm based in New York, United States, announces an investigation into potential securities claims against the NASDAQ-listed US crypto exchange Coinbase following allegations of misleading business information. Allegedly, Coinbase may have issued materially misleading business information to the investing public. The law firm invites Coinbase shareholders to join a class action. Short Case Narrative The Rosen Law Firm, known for its expertise in investor rights, is investigating potential securities claims on behalf of Coinbase shareholders. The investigation comes after the UK’s Financial Conduct Authority (FCA) fined CB Payments Limited, affiliated with Coinbase, for failing to prevent high-risk customer activity due to inadequate controls. This news caused Coinbase’s stock to drop by 5.5% on July 25, 2024, raising concerns about the company’s disclosures to investors. Key Details: Investigation Focus: Potential securities claims for issuing misleading business information. Background: FCA fined CB Payments Limited for regulatory breaches related to financial crime defenses. Impact on Stock: Coinbase shares fell 5.5% following the FCA’s announcement. Class Action: Investors may join a class action for compensation on a contingency fee basis. Actionable Insight: Shareholders who suffered losses from Coinbase investments are urged to join the class action. Contact Rosen Law Firm for more information on how to participate. Read More: Read the Press Release on the Class Action Whistleblower Request: If you have additional information on Coinbase’s business practices or potential misconduct, please contact us confidentially. Your anonymity will be protected. Share Information with FinTelegram CategoriesCourt Cases FCATagsCoinbaseCP PqymentsRosen Law

The U.S. SEC has awarded over $98 million to two whistleblowers for their critical contributions to enforcement actions. The two whistleblowers’ information and assistance led to an SEC enforcement action and an action brought by another agency. The first whistleblower’s tip prompted the opening of the investigations, and thereafter provided critical additional information and ongoing assistance. Key Details: Award Breakdown: $82 million awarded to the first whistleblower who initiated the investigations and provided ongoing assistance. $16 million awarded to a second whistleblower who contributed significantly to one aspect of the actions. Significance: According to Creola Kelly, chief of the SEC’s Office of the Whistleblower, whistleblower tips are crucial for uncovering violations that may otherwise go undetected. Funding: Awards are paid from an investor protection fund, financed by sanctions paid by securities law violators, not taxpayer dollars. Eligibility: Whistleblowers can receive 10-30% of monetary sanctions if their information leads to sanctions exceeding $1 million. Confidentiality: The SEC protects the identities of whistleblowers under the Dodd-Frank Act. Insight: Whistleblower tips are vital for the ability of regulators to detect and prosecute securities law violations, reinforcing the importance of the whistleblower program in protecting investors. In 2023, the SEC awarded nearly $600 million—the highest annual total by dollar value in the Program’s history—to 68 individual whistleblowers. These totals include a single award for almost $279 million—the largest in the history of the Program. Until the end of 2023, the SEC has awarded more than $1.9 billion to 397 individual whistleblowers since the beginning of the Program in 2011. Read More: SEC press release Report Information If you have information about financial wrongdoing, please report it to FinTelegram using our whistleblowing system, Whistle42. Report Financial Wrongdoing to FinTelegram CategoriesSEC WhistleblowerTagsCreola Kelly

On August 19, 2024, British tech entrepreneur Mike Lynch, known for his role in the HP-Autonomy saga, tragically died in a yacht accident off the coast of Sicily. The yacht, the Bayesian, was a luxurious 56-meter vessel with the tallest aluminum mast on a sailing yacht, built by the renowned Italian shipyard Perini Navi. The rapid sinking of the Bayesian, described by experts as virtually unsinkable, has fueled a series of conspiracy theories given the circumstances surrounding Lynch’s legal battles and recent events. The US Charges In the US, Mike Lynch was charged with HP’s acquisition of his company, Autonomy. He was charged with 15 counts of fraud, including wire fraud, securities fraud, and conspiracy. US prosecutors accused Lynch of fraudulently earning $815 million. The indictment alleged that Lynch and Stephen Chamberlain, Autonomy’s former VP of Finance, engaged in a scheme to defraud purchasers and sellers of Autonomy securities, including HP. They allegedly had inflated Autonomy‘s revenues while lying to regulators and analysts. Prosecutors portrayed Lynch as the mastermind behind a years-long fraud scheme related to the $11.1 billion sale of his company Autonomy to Hewlett-Packard (HP) in 2011. The core of the US government’s case centered on allegations that Autonomy concealed its hardware sales, marketing itself as a software company while selling hardware and software bundles to artificially inflate sales. If convicted, Lynch could have faced up to 20 years in prison. However, after a trial that began in March 2024, Lynch was acquitted of all charges by a jury in San Francisco on June 6, 2024. Mike Lynch‘s acquittal in the US trial was considered highly unlikely for several reasons. Lynch’s former colleague, Sushovan Hussain (Autonomy’s ex-CFO), had already been convicted and jailed for five years over the same case before the same judge. This precedent likely made an acquittal seem even less probable. A UK civil court had already ruled mostly in HP’s favor in a related case, potentially setting expectations for the criminal trial’s outcome. The Accident: A Sudden and Catastrophic Event The Bayesian sank in the early hours of the morning, around 4:00-5:00 AM, while anchored off the coast of Palermo. The yacht was caught in a sudden and violent storm, producing severe waterspouts and extreme weather conditions. Witnesses reported that the yacht’s 75-meter mast, the world’s tallest aluminum mast on a sailing yacht, broke during the storm. This structural failure likely contributed to the vessel’s rapid capsize and sinking. Several key factors contributed to the disaster: Severe Weather: A sudden storm struck, bringing violent winds and waterspouts that overwhelmed the yacht. Mast Failure: The yacht’s tall mast broke during the storm, which may have destabilized the vessel. Anchored Position: The Bayesian was anchored when the storm hit, possibly increasing its vulnerability to the severe weather. Possible Keel Issues: There is speculation that the yacht’s extractable keel may not have been properly deployed, potentially affecting its stability. The combination of these factors led to the rapid sinking of the Bayesian, leaving little time for passengers and crew to react. Out of the 22 people on board, seven lives were lost, including Mike Lynch and his 18-year-old daughter, Hannah Lynch. The tragic loss of life, combined with the circumstances of the accident, has led to extensive speculation and investigation. The Victims and the Investigation Mike Lynch died in the accident together with his 18-year-old daughter Hannah Lynch. Among the victims were notable individuals such as Jonathan Bloomer, chair of Morgan Stanley International, his wife Judy Bloomer, and Chris Morvillo, a lawyer at Clifford Chance, alongside his wife, Neda Morvillo. The crew and passengers faced immense challenges as the yacht rapidly sank, with survivors including a one-year-old infant and Hannah’s mother, Angela Bacares. Following the accident, Italian authorities launched a criminal investigation into the sinking, examining potential charges of shipwreck, disaster, and multiple homicides. The rapid nature of the sinking and the testimony from Captain James Catfield, who claimed he could not have anticipated the sudden severe storm, have led to intense scrutiny of the emergency response and preparedness for such a catastrophic event. Conspiracy Theories: The Unlikely Chain of Events Given the Bayesian’s reputation for safety and the unusual nature of the sinking, conspiracy theories have proliferated. These theories are further fueled by the fact that Lynch’s co-defendant in the HP-Autonomy legal case, Stephen Chamberlain, died in a separate accident just 48 hours prior. The coincidence of these two tragic events has sparked speculation about potential foul play. Intelligence Agency Connections: Some theories suggest possible links between Lynch and intelligence agencies, based on alleged connections through his computer security companies. Staged Death Theory: A more far-fetched idea proposes that Lynch’s death was faked, suggesting he may have escaped via submarine and staged the accident to disappear. Targeted Assassination Claims: There are vague and unsubstantiated claims that Lynch and others may have been deliberately targeted, possibly by disgruntled officials or corporate actors involved in the legal battle over Autonomy. Corporate Conspiracy Theories: Some speculate that corporate entities connected to the HP-Autonomy case might have had a motive for retribution following Lynch’s recent acquittal. A Legacy of Suspicion and Speculation While these theories remain speculative and lack concrete evidence, they reflect the public’s difficulty in accepting the seemingly improbable series of events. The Bayesian, described by Giovanni Costantino, CEO of The Italian Sea Group, as “virtually unsinkable,” should have been able to withstand severe weather. The unexpected sinking, therefore, raises legitimate questions about potential equipment failures, human error, or unforeseen circumstances. As investigations continue, the true cause of the Bayesian’s sinking may come to light, dispelling rumors and providing closure to those affected by the tragedy. For now, the mystery surrounding the incident remains a source of intrigue, speculation, and conspiracy. Share Information with FinTelegram CategoriesRIPTagsAngela BacaresChris MorvilloClifford ChanceHannah LynchJames CatfieldJonathan BloomerJudy BloomerMike LynchMorgan Stanley InternationalNeda MorvilloPerini Navi

Gen Z and Millennials are embracing cryptocurrency as a key part of their financial strategies, significantly more than Baby Boomers. Much like Gen Z, cryptocurrencies are native to the digital environment. As this generation matures, their comfort with digital technology will likely drive further adoption of blockchain-based financial systems. The shift towards cryptocurrencies among younger generations could signal the beginning of a new era in finance. Key Details: Ownership Rates: 20% of Gen Z own cryptocurrency, higher than the 18% who own stocks. In contrast, only 5% of Baby Boomers invest in crypto, compared to 33% who own stocks. Investment Behavior: 94% of crypto buyers are aged 18-40, with Gen Z spending an average of $6,120 annually on crypto. Comparative Investments: Nearly equal ownership of crypto (21%) and real estate (20%) among Gen Z and Millennials, reflecting crypto’s growing acceptance. Financial Strategies: 62% of Gen Z have tried financial “hacks” from social media, showing a trend towards experimenting with alternative investments like crypto. Cautious Approach: Despite high adoption rates, Gen Z shows caution about crypto, balancing enthusiasm with concerns over market volatility. Context Younger generations are more tech-savvy and open to innovative financial strategies, which drives their higher engagement with cryptocurrencies compared to older generations. Their focus on digital assets indicates a shift towards more modern and diverse portfolios. Insight For Gen Z and Millennials, crypto is not just an investment; it’s a critical component of their approach to financial independence and wealth-building. Read More: Read more in the FinTelegram research report. Share Information About Crypto Schemes with FinTelegram CategoriesAMF Quebec Crypto

The financial landscape is undergoing a significant transformation, driven largely by the adoption of cryptocurrencies among younger generations like Gen Z and Millennials. As digital natives, these groups are not only more comfortable with technology. Still, they are also actively reshaping how financial systems operate, moving away from traditional fiat currencies to embrace blockchain-based cryptosystems. This shift signals a potential diffusion and even replacement of the legacy fiat system among future generations. A Generational Shift in Financial Strategies Millennials (born between 1981 and 1996) and Gen Z (born from 1997 onwards) have grown up in an era marked by rapid technological advancement. While Millennials witnessed the transition from analog to digital, Gen Z has never known a world without the internet, smartphones, or social media. This profound exposure to technology has influenced their approach to finance, fostering a comfort with digital transactions and an openness to new financial tools, like cryptocurrencies. Recent studies indicate that 20% of Gen Z individuals own cryptocurrency, a figure slightly higher than the 18% who own stocks. In contrast, Baby Boomers, who are more accustomed to traditional investment vehicles, show much lower engagement with crypto, with only 5% investing in digital assets. This divergence underscores a generational shift towards cryptocurrencies, which are increasingly seen as a viable investment option and a crucial part of the younger generation’s financial strategies. The Appeal of Crypto for Younger Generations Several factors drive the growing interest in cryptocurrencies among Gen Z and Millennials. For one, the decentralized nature of cryptocurrencies aligns with the values of these younger generations, who prioritize autonomy, transparency, and fairness. Unlike traditional fiat systems, which are often criticized for being controlled by a few powerful entities, cryptocurrencies operate on a blockchain, offering a decentralized and transparent alternative. Moreover, the economic challenges faced by Millennials—such as the burden of student loans in the US—have shaped their financial behaviors and attitudes towards savings and investment. Cryptocurrencies, with their potential for high returns and innovation, offer a way to achieve financial independence and security, which is particularly appealing to younger generations who have experienced economic volatility firsthand. Gen Z, in particular, shows a unique blend of enthusiasm and caution towards cryptocurrencies. While they are eager to explore new financial opportunities, their cautious approach reflects a desire to balance the potential rewards of investing in digital assets with the inherent risks, such as market volatility. This cautious optimism positions cryptocurrencies as not just a speculative asset but a long-term component of their financial portfolios. The Potential of Cryptocurrencies to Replace the Fiat System As more young people adopt cryptocurrencies, there is growing speculation that these digital assets could eventually replace traditional fiat currencies. Cryptocurrencies offer several advantages over fiat, including lower transaction costs, faster cross-border payments, and protection against inflation—a significant concern in today’s global economy. Additionally, the underlying blockchain technology provides a secure, transparent, and tamper-proof way to record transactions, which could make it a superior system for the future of finance. Campaigns like Coinbase‘s Stand with Crypto further support the potential for cryptocurrencies to replace the fiat system. This initiative aims to mobilize the 52 million crypto holders in the U.S. to advocate for crypto-friendly regulation. By leveraging the voices of millions of Americans who already see the value in digital assets, Coinbase is pushing for a regulatory framework that would allow cryptocurrencies to thrive and, possibly, supplant traditional financial systems. A Digital Financial System for Digital Natives Much like Gen Z, cryptocurrencies are native to the digital environment. As this generation matures, their comfort with digital technology will likely drive further adoption of blockchain-based financial systems. The shift towards cryptocurrencies among younger generations could signal the beginning of a new era in finance—one that is more inclusive, equitable, and aligned with the values of digital natives. While the complete replacement of fiat by cryptocurrencies remains a hypothesis, the trend is clear: younger generations are embracing digital assets at an unprecedented rate. Their growing influence will likely shape the financial systems of the future, potentially leading to a more decentralized and democratized financial landscape. The legacy fiat system, long dominated by traditional financial institutions, may need to adapt or face obsolescence in the face of this digital revolution. Coinbase‘s call to action highlights the urgency of this shift. As millions of crypto enthusiasts rally for regulatory change, it’s evident that the future of finance could be significantly different from what we know today—one where cryptocurrencies and blockchain technology play a central role. For Gen Z and Millennials, this isn’t just about financial innovation; it’s about creating a more accessible and fair financial system for everyone. Share Information About Crypto Schemes with FinTelegram CategoriesCrypto

As the 2024 U.S. elections approach, US crypto exchange Coinbase is spearheading a major initiative to mobilize the nation’s 52 million crypto owners into a powerful advocacy group. This “Stand with Crypto” campaign is not just about rallying support—it’s about making a decisive impact on the regulatory landscape for cryptocurrencies. Apparently, Coinbase wants to enforce crypto regulation and fight the U.S. SEC’s regulation-by-enforcement approach. Key Details: Campaign Launch: Stand with Crypto Day in DC on September 27. Objective: Turn 52 million crypto owners into 1 million advocates for fair crypto regulation. Key States: AZ, CA, GA, IL, NH, NV, OH, PA, WI. Current Situation: 87% of Americans want financial reform; 51% feel the system is unfair. Action: Call your congressperson to support crypto-friendly legislation. Context: The Coinbase campaign aims to challenge outdated financial systems that limit economic freedom and opportunity. With the 2024 elections approaching, crypto owners are urged to push for sensible, clear regulation to foster innovation and protect jobs. The campaign underscores the urgent need for clear and sensible cryptocurrency regulation. The current “enforcement only” approach is driving jobs and innovation overseas, risking the U.S.’s position as a global leader in financial technology. To address this, Coinbase is advocating for the Financial Innovation and Technology for the 21st Century Act (FIT21), which provides a strong regulatory framework that balances consumer protection with innovation. Insight: Crypto is a crucial part of the future financial landscape. Approximately 20% of Gen Z individuals own cryptocurrency, slightly higher than the 18% who own stocks. This contrasts with older generations, where only 5% of baby boomers engage in cryptocurrency investments. A study found that nearly 94% of cryptocurrency buyers fall within the age range of 18-40, encompassing both Gen Z and Millennials. Read More: Full Article Link Share Information If you have any information about crypto and crypto investments, please share it with FinTelegram via our Whistle42 whistleblowing system. Share Information with FinTelegram CategoriesCrypto Compliance tickerTagsCoinbase

Former Binance CEO Changpeng Zhao (CZ) has been transferred from FCI Lompoc II prison in California to a halfway house at RRM Long Beach, but contrary to speculation on social media, he has not been released. The move is part of the U.S. Bureau of Prisons’ process to transition inmates nearing the end of their sentences into residential reentry management (RRM) facilities. He has been sentenced to 4 months prison time after his guilty plea. RRM Long Beach is not a traditional prison but a facility designed to help inmates reintegrate into society before their full release. While CZ is technically no longer in prison, he remains under strict supervision and must adhere to the rules of the halfway house. The facility operates on voluntary compliance, but CZ is still serving his sentence and is not free. Background: CZ pleaded guilty to money laundering charges and was sentenced to four months in prison on April 30, 2024. This sentence came after a November 2023 settlement with U.S. authorities, in which CZ admitted to violating anti-money laundering laws and agreed to step down as CEO of Binance. The U.S. government imposed a hefty penalty of $4.3 billion on Binance, while Zhao personally agreed to pay a $50 million fine. Prosecutors had sought a three-year sentence, citing the extensive nature of Zhao’s misconduct, but the judge opted for a shorter term, acknowledging Zhao’s cooperation and lack of prior offenses. As part of the settlement, Zhao waived his right to appeal any sentence up to 18 months, and Binance will operate under the supervision of a government monitor for compliance oversight The confusion surrounding CZ‘s status stems from misinformation on social media platforms like X (formerly Twitter), where users incorrectly assumed his move to the halfway house signified an early release. In reality, CZ‘s sentence is set to conclude on September 29, 2024, not August 30 as previously speculated. The earlier date was tied to his sentencing on April 30, but his imprisonment began in late May, extending his time in custody. As CZ approaches the end of his sentence, he faces additional legal challenges. A class action complaint filed on August 16 accuses CZ and Binance of enabling the laundering of stolen funds due to inadequate anti-money laundering (AML) and know-your-customer (KYC) protocols. The plaintiffs, three crypto traders, allege that Binance’s lax regulatory practices led to the loss of their funds. With his sentence nearing completion, CZ‘s legal battles are far from over, raising further concerns about Binance’s regulatory compliance and operational integrity. Share Information with FinTelegram CategoriesCourt Cases Money Laundering People RadarTagsBinanceChangepeng ZhaoCZ

The democracy advocacy group Public Citizen has sounded the alarm on the massive influx of cryptocurrency-related donations aimed at influencing the upcoming U.S. presidential election. Major players in the crypto industry, including Coinbase and Ripple, have emerged as some of the largest corporate political contributors this election cycle, pouring over $100 million into political action committees (PACs) that back candidates with pro-crypto stances. The Numbers: A Closer Look at Crypto’s Political Spending The scale of political contributions from the crypto sector is unprecedented. Of the $248 million in total corporate contributions identified by Public Citizen, crypto firms are responsible for nearly half—48%. Coinbase and Ripple, in particular, have been identified as the primary contributors, collectively funneling approximately $99 million into efforts to sway the 2024 elections in favor of candidates who are likely to support favorable regulatory environments for cryptocurrencies. The substantial financial involvement of crypto firms, Public Citizen warns, could lead to weakened regulatory oversight, potentially endangering consumers while benefiting “Big Crypto.” The Role of Fairshake PAC A significant portion of this political spending has been channeled through Fairshake PAC, which has become the main vehicle for corporate crypto donations. The PAC has secured $202.9 million in total, with more than half—$107.9 million—coming directly from major crypto firms like Coinbase and Ripple. This funding has positioned Fairshake as one of the most influential super PACs in the current election cycle, rivaling even the major political fundraising platforms like ActBlue and WinRed. Coinbase’s recent announcement of an additional $25 million donation to Fairshake underscores the aggressive spending by the crypto sector. This contribution brings Fairshake’s total to $160 million, marking it as one of the most well-funded efforts to shape the outcome of the November elections. The funds are being strategically deployed to support candidates—both Republican and Democrat—who favor light-touch regulation of the crypto industry. According to Public Citizen, crypto corporations have contributed $129 million in the last three election cycles alone, accounting for 15% of the total corporate contributions of $884 million since the Citizens United decision. This dramatic rise underscores the growing influence of the crypto sector in American politics, with Coinbase now emerging as the second-largest corporate spender in federal elections, trailing only behind Koch Industries. Concerns Over Regulatory Impact Public Citizen’s report raises serious concerns about the implications of such large-scale spending. The organization argues that these donations are part of a “brazen and unprecedented attempt by a relatively small corporate sector to distort U.S. democracy to serve its private, profit-maximizing interests.” The potential for this financial power to sway lawmakers into enacting more lenient regulations on the crypto industry is seen as a significant risk, particularly for consumers who may be left vulnerable in a less regulated environment. As the election approaches, the role of crypto money in U.S. politics will likely remain a contentious issue, with significant implications for the future of both the crypto industry and the broader regulatory environment. Share Information with FinTelegram CategoriesCrypto Compliance Politics tickerTagsActBlueCoinbaseFairshakePublic CitizenRippleWinRed

The recent arrest of Joshua “Josh” Cartu in Russia has reignited interest in one of the most notorious financial fraud cases of the past decade—the binary options scheme orchestrated by the Cartu Brothers, centered around the Irish company GreyMountain Management (GMM). Tens of thousands of victims worldwide are still seeking justice and the return of their lost funds, which allegedly financed the extravagant lifestyles of the Cartu Brothers. The Genesis of the Scheme Despite the vast scale of their fraudulent operations, the brothers have yet to be held accountable in a meaningful way by any court. This report revisits the story of the Cartu Brothers, their involvement with GMM, and the ongoing quest for justice on behalf of their victims. Joshua Cartu, the mastermind among the three Canadian-Israeli brothers, built a career around exploiting financial loopholes and regulatory blind spots. Growing up in a middle-class family in St. Catharines, Ontario, Josh was not the typical entrepreneurial prodigy. He was a socially awkward youth who dropped out of high school and began his career washing cars at his father’s dealership, Toronto Life remarks. In the 2000s, Josh moved to Cyprus and became involved with Playtech, an Estonia-based gambling software company. This experience laid the foundation for his later ventures into the binary options industry, where he and his brothers—David and Jonathan—would create a global network of fraudulent trading platforms under the umbrella of GMM. Read our GMM reports here. The Rise of GreyMountain Management Founded in Ireland, GreyMountain Management Ltd (GMM) became a key player in the binary options industry, serving as both an operator and a payment processor for various fraudulent platforms. The Cartu Brothers, with Josh at the helm, used GMM to facilitate the operations of their binary options schemes, including BeeOptions, Glenridge Capital, and Rumelia Capital. These platforms lured unsuspecting investors with promises of high returns, only to siphon off their money into offshore accounts controlled by the Cartu Brothers. GMM‘s role was crucial in the Cartus’ operations. The company processed hundreds of millions of dollars through its payment channels, working closely with Wirecard Ireland to facilitate transactions. Despite its significant role in the fraudulent activities, GMM was conspicuously absent from many legal actions, including the U.S. Commodity Futures Trading Commission’s (CFTC) fraud complaint filed in September 2020 against the Cartu brothers and their associates. Legal Battles and Court Findings The fraudulent activities of the Cartu Brothers did not go unnoticed. In 2020, the CFTC filed a lawsuit against Joshua Cartu, David Cartu, and Jonathan Cartu, along with their Israeli associates Leeav Peretz and Nati Peretz, accusing them of operating illegal binary options schemes that defrauded investors of millions of dollars. However, despite the extensive evidence against them, the Cartu Brothers have managed to evade serious legal consequences, largely due to jurisdictional challenges and the complexity of their operations. One of the most significant legal developments came in October 2022, when the Irish High Court found that David Cartu and Jonathan Cartu were shadow directors of GMM and held them personally liable for the losses suffered by investors, including those like Bill Powers, a 71-year-old retiree who lost $124,000 to Glenridge Capital. The court’s ruling exposed the depth of the Cartu brothers’ involvement in GMM’s operations, revealing that they had siphoned off significant sums of money, leaving GMM with just €600,000 to fulfill its obligations. The Irish directors of GMM, Ryan Coates and Liam Grainger, were also found liable for their roles in the fraud. The court criticized them for their “complete dereliction of duty,” highlighting that they had been negligent in their oversight of the company, allowing the Cartu brothers to operate their schemes with impunity. The Lavish Lifestyle of the Cartu Brothers While their victims faced financial ruin, the Cartu Brothers enjoyed a life of luxury, flaunting their wealth on social media and in the company of celebrities. Josh Cartu, in particular, cultivated an image of a successful entrepreneur and racecar driver, sharing glimpses of his extravagant lifestyle with his 600,000 Instagram followers. His posts featured private jets, supercars, and exotic vacations, all funded by the money stolen from thousands of investors. The Cartu Brothers‘ opulent lifestyle, however, was built on deception. Behind the façade of success, they were running one of the most extensive financial frauds in recent history, preying on individuals who trusted them with their life savings. Despite their public personas, the reality was that they were orchestrating a sophisticated scam, manipulating software to ensure that even when clients placed winning bets, it appeared as though they had lost, allowing the brothers to pocket their funds. The Disappearance of Funds and the Quest for Justice To this day, the whereabouts of the funds stolen by the Cartu Brothers remain largely unknown. Investigators believe that the money has been funneled into offshore accounts, making it difficult for authorities to recover and return it to the victims. Despite the efforts of regulators and law enforcement agencies across multiple countries, the Cartu brothers have managed to evade significant legal repercussions. The Irish High Court’s ruling, which held the Cartu Brothers David and Jonathan personally liable for investor losses, marked an important step towards justice. However, the fact that they have not yet faced criminal charges or been forced to return the stolen funds is a glaring injustice. The victims of their schemes are still waiting for compensation and closure, while the Cartu Brothers continue to live in luxury. Conclusion The arrest of Joshua Cartu in Russia may signal a turning point in the pursuit of justice, but much work remains to be done to hold the Cartu Brothers accountable and recover the funds stolen from their victims. According to the Russian media, the next detention hearing will take place on August 24, 2024. It will be interesting to see whether Cartu will be released on bail or perhaps extradited. The latter would be a minor miracle due to the Western sanctions against Russia. As this case unfolds, FinTelegram will continue to monitor developments and advocate for the rights of those who have been defrauded. The Cartu Brothers’ ability to evade justice for so long is a unique scandal that underscores the need for stronger international cooperation in tackling financial fraud and bringing perpetrators to justice. Share Information with FinTelegram CategoriesBinary Options tickerTagsBeeoptionsBill PowersCartu BrothersGlenridge CapitalGMMGreyMountain ManagementJoshua CartuLeeav PeretzLiam GraingerNati PeretzRumelia CapitalRyan Coates

Another day, another exposed illegal online casino facilitated via Cyprus. Payment processors play a crucial role in sustaining this underground economy. FinTelegram’s research, based on the “follow-the-money” paradigm, repeatedly reveals that without these facilitating payment processors, many illegal online schemes, particularly in the gambling sector, would not thrive. Currently, we are focusing on the brands of the collapsed Rabidi Group that continue to operate anonymously and unauthorized. Here is our report on Cazimbo. Cazimbo Casino: A Case Study Cazimbo casino is a prime example of an online gambling platform that operates without proper regulatory authorization. Formerly part of the Rabidi Group—a notorious operator of illegal online casinos that FinTelegram has previously reported on—Cazimbo continues to function despite its lack of a valid license. The collapse of Rabidi N.V. in Curacao and the withdrawal of its license did little to hinder the operations of former Rabidi brands like Cazimbo, which have either moved into anonymous ownership or are being run by entities holding dubious offshore licenses. In the case of Cazimbo, the responsible jurisdiction cited in the terms and conditions is the Marshall Islands, a jurisdiction often associated with minimal regulatory oversight. As already exposed previously, Cazimbo is linked to Cyprus-based Tilaros Limited, a part of the former Rabidi Group, which is owned by Denys Butko and operates under the ButOn Group umbrella. Like many other online casinos, Cazimbo conceals the identity of its operators on its website and in its terms and conditions, shielding its activities from regulatory scrutiny. Despite this opacity, Cazimbo manages to accept players from various countries around the world. A Similarweb analysis indicates that website traffic to Cazimbo’s domain, Cazimbo5.com (screenshot right), originates almost entirely from Italy—another regulatory regime in which Cazimbo is not authorized to operate. The casino website connected with the main domain Cazimbo.com, receives traffic comes from Brazil, Tunisia, the United States, the United Kingdom, and Spain, further underscoring the casino’s global reach despite its lack of compliance with local regulatory regimes. Notably, the domain cazimbocasino.it redirects Italian visitors to the Dama Group’s N1 BET Casino for registration, demonstrating the interconnectedness of various illegal operators in this space. The Role of Payment Processors One of the most troubling aspects of the Cazimbo casino case is the continued involvement of regulated payment processors. Even though Cazimbo operates anonymously and without regulatory approval, it still offers its customers a range of payment options, a clear indication that payment processors are knowingly facilitating these illegal activities. Our review on August 21, 2024, revealed that Cazimbo works with a number of well-known payment processors, many of which have been implicated in similar schemes before. These include: PaymentIQ: A frequently utilized payment gateway in the high-risk online gambling sector; utPay (Utrg UAB): Used to process deposits via Rapid, Skrill, Neteller, Postepay and PaySafeCard (pscd); Kvitum: Processes Binance Pay payments for Cazimbo (and other illegal online casinos); CryptoPay: Handles deposits in cryptocurrencies for Cazimbo and other illegal online casinos; Jeton and MiFinity: Provide e-wallet services for Cazimbo and many other illegal online casinos. Notably, the payment agent appears to be Tilaros Limited, the same entity that owns the “Cazimbo” brand. This connection further strengthens the link between Cyprus-based entities and the facilitation of illegal online casinos. The recurring question in cases like this is how regulated payment processors, which are expected to comply with AML and Know Your Customer (KYC) requirements, continue to facilitate transactions for illegal online casinos. Based on our investigations, it is unlikely that this is due to mere negligence. Instead, it appears that these processors are systematically accepting high-risk customers, likely because of the lucrative fees such clients can offer. The Broader Context: Cyprus and the Rabidi Group A concerning pattern emerges from our investigations—Cyprus is becoming a central hub for payment agents facilitating illegal online casinos. The country’s relaxed approach to Anti-Money Laundering (AML) regulations creates an environment in which payment processors are allowed to support high-risk and unauthorized operators, such as the Cazimbo casino. Cyprus has emerged as a popular jurisdiction for payment processors working with unauthorized online casinos. The country’s lax approach to AML regulations and high-risk clients makes it an attractive destination for entities that want to operate in a gray area of the law. This is evident in the case of the ButOn Group and its connection to the Rabidi Group, which FinTelegram has reported on extensively. The Rabidi case underscores how Cyprus-based entities are playing a pivotal role in sustaining illegal online gambling operations worldwide. Call for Information As FinTelegram continues to investigate the dark sector of illegal online casinos and their facilitating payment processors, we encourage anyone with relevant information regarding the former Rabidi Group, the ButOn Group, or the payment processors supporting these illegal operations to come forward. You can submit any tips or information via our whistleblowing system, Whistle42. Share Information with FinTelegram CategoriesIllegal gambling Illegal Payment Services tickerTagsButOnButOn GroupCazimboDenys ButkoJetonKvitumMiFinityNetellerPaymentIQPaySafeCardpscdRabidiRabidi GroupRapidSkrillTilarosutPayUtrg

According to a report published by the 47News and Times of Moscow, Russian law enforcement authorities have detained Joshua Cartu, a prominent figure in the notorious Cartu Brothers‘ binary options fraud scheme. Cartu, a 45-year-old Israeli-Canadian entrepreneur and racecar driver, was apprehended at St. Petersburg’s Pulkovo International Airport by the Interior Ministry’s Interpol bureau. The Cartu Brothers operated the GreyMountain Management (GMM) Binary Options fraud scheme. According to the Russian news site 78, Carto is a suspect in a $60 million fraud case. Joshua Cartu’s detention marks a significant development in the ongoing investigations into the Cartu Brothers—David Cartu, Jonathan Cartu, and Joshua Cartu—who orchestrated a vast binary options fraud network centered around their Irish company, GreyMountain Management (GMM). In September 2020, U.S. Commodity Futures Trading Commission (CFTC) had charged the Cartu brothers, alongside their business partners and associated companies, with defrauding investors of $204 million through illegal online trading schemes between 2013 and 2018. FinTelegram has extensively reported on the Cartu Brothers‘ fraudulent activities, which exploited vulnerable investors through promises of high returns via binary options trading. This financial scheme, which spanned multiple jurisdictions, led to significant regulatory actions. Notably, in March 2024, a Texas court found Jonathan Cartu and his associates, including Leeav Peretz, Nati Peretz, and Blue Moon Investments Inc., liable for their role in the fraud. The court ordered them to pay $204 million in civil monetary penalties and restitution. In addition to the U.S. legal actions, the Ontario Securities Commission (OSC) in Canada accused the Cartu brothers in 2020 of pocketing $233 million through global binary options-related schemes. In May 2021, OSC settled with David Cartu, who agreed to a seven-year ban and a CAD 300,000 penalty. In July 2022, Ontario’s Capital Markets Tribunal ordered Jonathan Cartu and Joshua Cartu to pay CAD 3.3 million. Their fraudulent activities allegedly targeted a wide range of victims, including retirees, disabled veterans, struggling parents, and early-career millennials. Joshua Cartu, who was known for flaunting his opulent lifestyle on social media allegedly has been living in Russia for the past three years. He owned a collection of Ferraris and was a regular participant in races and rallies for affluent supercar owners. Joshua Cartu with Ferrari According to the Russian news platform 78, the Moscow district issued a decree on the extension of the period of detention for 72 hours. The next court meeting will be held on August 24. If confirmation is received, Russian authorities will seek a court order to formally arrest him. However, due to the absence of an extradition treaty between Russia and the U.S., the process could face significant legal challenges. FinTelegram will continue to monitor this developing story as further details emerge regarding Joshua Cartu’s potential extradition and the broader implications for the Cartu brothers’ fraudulent empire. Report Information about the Cartu Brothers to FinTelegram CategoriesBinary Options CFTC Court Cases tickerTagsBlue Moon InvestmentsDavid CartuGMMGreyMountain ManagementJonathan CartuJoshua CartuLeeav PeretzNati Peretz

The world of online gaming is often shrouded in complex structures and hidden ownership, making it difficult to track the true beneficiaries behind these operations. The case of the Rabidi Group is a prime example of this opacity. Rabidi, once a significant player in the online gambling industry with a Curacao license, has recently come under scrutiny after the group’s sudden disappearance following its bankruptcy in June 2023. Following FinTelegram reports, Denys Butko, the alleged beneficial owner recently deleted his LinkedIn profile. The Background: Rabidi Group’s Rise and Fall Founded in 2019, Rabidi Group quickly rose to prominence in the online gambling sector, operating at least 34 online casinos under Rabidi N.V., a Curacao-registered entity. However, the group’s operations have always been linked to Cyprus, where the real control seemed to be exerted. Rabidi N.V. appears to have been an empty shell with no significant assets or bank accounts, as confirmed by its liquidator. All financial transactions were reportedly processed through Cypriot payment agents, namely Tilaros Limited and Tranello Limited, both of which are registered at the same address in Nicosia, Cyprus. Read our Rabidi reports here. The trademark rights for the Rabidi casinos, as well as the ButOn trademark, are held by Tilaros Limited. This connection between Rabidi Group and Tilaros Limited points to a deeper relationship with the Cypriot ButOn Group, owned and headed by Denys Butko. The situation raises questions about the actual ownership and operational control of the Rabidi Group, suggesting it was potentially a part of Butko’s broader business network. The Hypothesis: Rabidi Group as a Front for ButOn Group Based on the available evidence, it is plausible to hypothesize that the Rabidi Group was, in fact, a subsidiary or an extension of Denys Butko‘s ButOn Group. The connections between Tilaros Limited, which holds the trademarks of Rabidi Casinos, and ButOn Group, coupled with the shared Cypriot address and overlapping management, strongly suggest that the operations of Rabidi were not independent but were instead integrated into the broader structure of the ButOn Group. The fact that ButOn Group, through Estolia Limited, also holds online casino licenses and operates in Estonia further strengthens this hypothesis. The intertwining of entities and the rapid disappearance of both Rabidi Group and its beneficial owner from public view point to a deliberate effort to obscure the true nature of these operations, possibly to evade accountability following Rabidi N.V.’s bankruptcy. The Implications: Bankruptcy and Anonymity The insolvency of Rabidi N.V. and the subsequent actions taken by its administrators have uncovered a web of deceptive practices. The transfer of Rabidi’s assets to Adonio N.V. for €1.2 million, from which Rabidi allegedly received no payments, appears to have been a calculated move to defraud creditors. The involvement of companies like Starkeast Management N.V. and Wyze Management N.V., and the declaration that the transfer of domains, websites, and player databases was null and void, only adds to the suspicion of deliberate misconduct. Following the bankruptcy, the continued operation of former Rabidi casinos under anonymous ownership and the deletion of Denys Butko’s LinkedIn profile suggest an attempt to erase connections and evade further scrutiny. Butko’s association with other entities in the iGaming sector, such as PartnersCasa and ReferOn, where he continues to exert influence, indicates that while Rabidi Group has been dissolved, its operations and influence may persist under different guises. The Real Estate Connection Until recently, Butko’s LinkedIn profile showed that he was also a director of the Cypriot real estate company Landrino. Dan Hammer, who lives in Limassol, is registered as a director there. Like Butko, he also works full-time in the iGaming sector and is a manager at Butos Limited d/b/a PartnersCasa (Partnerscasa.com) and ReferOn (ReferOn.com), the operator of an affiliate system for the iGaming sector. Gera Hammers from Israel presents himself on LinkedIn as the founder of PartnersCasa. According to his LinkedIn profile, he is also currently based in Cyprus. Anyone who registers with PartnersCasa as an affiliate will receive a confirmation email from ReferOn. In this respect, the compelling conclusion is that the two schemes are linked. Conclusion The disappearance of the Rabidi Group and the actions of Denys Butko raise significant concerns about the transparency and accountability of online gambling operators. The evidence suggests that Rabidi Group was not a standalone entity but rather a part of Denys Butko’s ButOn Group, which has sought to distance itself from the fallout of Rabidi’s bankruptcy. As investigations continue, the need for greater regulatory oversight and the enforcement of financial accountability in the online gambling sector becomes ever more apparent. Rabidi Key Data Trading namesRabidiBusiness activityOnline casino and gambling operatorsStatusBankruptDomainshttps://rabidinv.com (offline)https://interpavaltd.com (offline)Legal entitiesRabidi N.V. (bankrupt legacy operator)Valia Nominees LimitedInterpava LimitedAllyant Group B.V. (company formation)Tilaros Limited (payment agent and brand owner)Tranello Limited (payment agent)Sentoka Limited (MateAffiliates)Adonio N.V. (Curacao)Starkeast Management N.V. (Curacao)Wyze Management N.V. (Curacao)Related entitiesButOn (www.buton.com)Estolio LimitedLandrino LimitedButos LimiedJurisdictionsCuracao, Cyprus, Estonia, GibraltarAuthorizationCuracao, Antillephone N.V. sublicense License No. 8048/JAZPayment facilitatorsMy EU Pay, BitSpider, InPayRelated individualsDenys Butko (Ultimate Beneficial Owner) – LinkedInHanna ChuprysIryna Liubochko Olga MusinaNatalia TsiourkinaDan Hammer (LinkedIn)Gera Hammer (LinkedIn)Related brandsGREATwin, Casinoly, Boomerang CasinoFEZbet, FunID, WazambaSlotsPalace, PlayZilla, SportazaExciteWin, OhMySpins, 5Gringos7Signs, PowBet, House of SpadesLuckyElektra, Neon54, Dolly CasinoZetCasino, Nomini, SpinRollz Share Information If you have any information regarding the activities of Rabidi Group or the individuals involved, we encourage you to share it with us through our Whistle42 platform. The pursuit of truth and justice depends on the willingness of informed individuals to come forward. Share Information with FinTelegram CategoriesIllegal gambling Illegal Payment Services tickerTagsAdonioAllyant GroupButOnButosDan HammerDenys ButkoEstolioGera HammerHanna ChuprysInterpavaIryna LiubochkoLandrinoNatalia TsiourkinaOlga MusinaRabidiSentokaStarkeast ManagementTilarosTranelloVilia Nominees

At any given time, hundreds, if not thousands, of crypto scams are active and looking for new victims. These scams promise customers quick and easy riches and collect deposits in cryptocurrencies. They leave no trace in the banking system. Most recently, we discovered a crypto investment scheme that uses various fake legal entities, brands and domains to defraud victims with the promise of high returns. Short Fraud Narrative We found around a dozen websites via the shared UK phone number +447868744153 (Google Search) that promise potential victims quick riches via investments or online trading with high returns. It appears that the same boiler rooms are behind all of the websites listed in the table below. Regulators have already issued warnings against some of the brands and websites. Some websites have already been blocked but the scheme continues with new domains and names. Fraud Investment Schemes Trading namesBluestone PortfolioSilverleaf Trading PortfolioChai Investments / Chai Agro InvestmentsNexa DeFiEthos ManagementPrestonDigital Trade BrokersMy Long Term PlanKingsway PortfolioWealthHaven / Wealth HavenScam activityCrypto investment and broker schemesDomainswww.bluestoneportfolioltd.comwww.silverleafportfolioltd.comwww.chaiagroinvestments.comhttps://www.prestonltd.comhttps://digitaltradebrokers.comhttps://mylongtermplan.comwww.kingswayportfolioltd.comhttps://wealthhaven.liveContact+447868744153Legal entities fake legal entitiesJurisdictionsUnited Kingdom (fake) Report Scams If you have any information about the operators of the above scams or other scams, please let us know via our whistleblowing system, Whistle42. Report Scammer to FinTelegram CategoriesCrypto SchemesTagsBluestone PortfolioChai Agro InvestmentsChai InvestmentsDigital Trade BrokersEthos ManagementKingsway PortfolioMy Long Term PlanNexa DeFiPrestonSilverleaf Trading PortfolioWealth HavenWealthHaven

Billionaire activist investor Carl C. Icahn, 88, has agreed to pay a $2 million fine to settle charges brought by the U.S. Securities and Exchange Commission (SEC) for failing to disclose that he had pledged his personal stock holdings as collateral for billions of dollars in loans. The SEC’s charges, announced on Monday, highlight Icahn’s use of more than half of his shares in Icahn Enterprises as collateral, a practice that went unreported for years. The SEC stated that Icahn, who owns approximately 86% of Icahn Enterprises, only disclosed the pledges in February 2022, despite having used the shares as collateral since late 2018. While pledging stock as collateral is a common practice, it introduces additional risks for other shareholders. If the borrower defaults on the loan, the lender may sell the pledged shares, potentially driving down the stock’s value. This settlement marks another significant challenge for Icahn, whose business practices have come under intense scrutiny following a report by Hindenburg Research, a prominent short-seller. Hindenburg accused Icahn Enterprises of operating “Ponzi-like economic structures” and paying dividends it could not afford, leading to a sharp decline in the company’s stock price. Shares of Icahn Enterprises have plummeted more than 60% since the report was released, with a further drop of over 1% following the SEC’s announcement. Read more about the Hindenburg Report on Icahn Enterprises. Icahn has strongly denied Hindenburg’s allegations, calling the report “false” and accusing the firm of profiting from its short position at the expense of ordinary investors. Despite the settlement with the SEC, Icahn maintains that the charges are unrelated to the Hindenburg report and notes that the issues were corrected more than a year before the report’s release. Hindenburg, however, continues to criticize Icahn Enterprises, asserting in a tweet on X that the company still operates a “Ponzi-like structure” and has failed to execute a $500 million stock buyback announced last year. The short-seller remains committed to its position against Icahn Enterprises, further complicating the billionaire’s ongoing challenges. Share Information with FinTelegram CategoriesPeople Radar SEC ShortsellerTagsCarl IcahnHindenburg ResearchIcahn Enterprises

The US-based Bitwise Asset Management is one of the leading providers of crypto index funds and ETFs. Bitwise has a six-year track record focused solely on crypto and aims to provide investors with professional-grade, rules-based exposure to the crypto asset class through its index funds and ETFs. The company announced the acquisition of London-based ETP issuer ETC Group. Over the last few years, Bitwise has achieved some remarkable milestones. Some key facts about the company: Bitwise pioneered the first cryptocurrency index fund and is one of the largest crypto asset managers, with over $4.5 billion in assets under management (AUM) as of August 2024. The company offers a broad suite of crypto investment products, including the Bitwise 10 Crypto Index Fund (BITW), which holds the top 10 cryptocurrencies weighted by 5-year diluted market cap, rebalanced monthly. Bitwise also offers a range of crypto ETFs, including the Bitwise Bitcoin and Ether Equal Weight Strategy ETF (BTOP), Bitwise Bitcoin ETF (BITB), Bitwise Ethereum ETF (ETHW), and Bitwise Crypto Industry Innovators ETF (BITQ). In August 2024, Bitwise acquired London-based crypto asset manager ETC Group, which manages over $1 billion in assets, further expanding the company’s presence in Europe. . So in summary, Bitwise is a pioneer and major player in the crypto fund and ETF space, offering a range of institutional-grade products to provide investors with diversified exposure to the growing crypto economy. Share Information with FinTelegram CategoriesCrypto TransactionsTagsBitwiseBitwise Asset ManagementETC Group