tamir | FinTelegram News

Author: tamir

December 4, 2023

FCA-Regulated Forex & Payment Services Entity RFX Was Placed Under Special Administration!

On November 29, 2023, Rational Foreign Exchange Limited (RFX), an FCA-regulated institution offering foreign exchange and payment services, was placed into special administration under the Payment and Electronic Money Institution Insolvency Regulations 2021. This decision came after the firm's directors determined that RFX was insolvent, leading to a court application for special administration.

December 4, 2023

Worthwhile Reading: How Libel Firms Are Implicitly Enabling Illicit Schemes Via SLAPP Attacks!

A remarkable analysis published by the Bureau of Investigative Journalism (TBIJ) on the UK law firm Carter-Ruck, renowned as Britain's fiercest libel firm, sheds light on the profound impact of libel laws and practices on democratic values. In recent years, FinTelegram has had several experiences with law firms that represent scammers or shoddy schemes without moral or legal scruples and try to help them by preventing criticism through SLAPP actions.

December 4, 2023

Introducing Better Business Bureau: Understanding The U.S. Rating Agency!

In many lawsuits in the U.S. against financial institutions, Plaintiffs often make reference to the Better Business Bureau (BBB) and the customer complaints mentioned there. Most recently, we saw this in fraud complaints filed against Donald Kasdon and his now-bankrupt high-risk payment processor, T1 Payments. But what is the BBB, and can you rely on their information? We do think so; here is our review and assessment.

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RIP

December 3, 2023

RIP Charlie Munger: Warren Buffett’s right-hand man, Died At Age 99!

It is undoubtedly the end of an era. Charlie Munger, a titan of the investment world and a visionary in business leadership, died on November 28, 2023, in Santa Barbara, California, at the age of 99. He was a man whose life and career were inextricably linked with that of investment legend Warren Buffett, his long-time business partner and friend. He would have turned 100 on New Year’s Day.

December 2, 2023

U.S. Federal Judge Criticizes SEC Lawyers for Misleading Court In Crypto Case Against Debt Box!

In a recent development that has raised eyebrows in legal and financial circles, a federal judge has expressed serious concerns about the conduct of attorneys from the U.S. Securities and Exchange Commission (SEC). The judge threatened to impose sanctions on the SEC lawyers, accusing them of presenting "false and misleading" arguments in a case against crypto firm Debt Box. These are typically allegations that the SEC makes against companies and individuals against whom it takes action.

December 1, 2023

Virtual Currency Mixer Sindbad Sanctioned by OFAC for Laundering Activities Linked to DPRK’s Lazarus Group

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has taken decisive action against Sinbad.io, a virtual currency mixer, for its role in laundering millions of dollars from cyber heists conducted by the notorious Lazarus Group, a cyber hacking group backed by the Democratic People’s Republic of Korea (DPRK). Sinbad has been a crucial tool for laundering proceeds from high-profile heists such as those on Horizon Bridge and Axie Infinity.

November 30, 2023

Attention: Crypto Exchange Bybit Under Regulatory Scrutiny Receives Red Compliance Rating!

The Binance case has kept the crypto scene busy over the last few days. Binance and its founder, Changpeng Zhao (CZ), have pleaded guilty to money laundering as part of a $4.3 billion settlement with the U.S. authorities. The U.S. authorities are also investigating Bybit, which works with the same payment processors as Binance. We have added this crypto exchange to our Red Compliance list in our initial review. Here is our review.

FinTelegram

November 29, 2023

Expected: Rene Benko’s Real Estate Conglomerate Signa Group Filed For Insolvency!

The Signa Group, a major player in the European real estate market, has found itself in the throes of financial turmoil. The company, controlled by Austrian tycoon René Benko, filed for insolvency at the Vienna Commercial Court. This move marks a dramatic shift in the group's fortunes, attributed to the challenging economic climate marked by high interest rates, restrictive bank credit policies, and plummeting real estate prices across Europe.

November 29, 2023

FinCEN Exposes Binance’s Deep Ties with Sanctioned Russian Exchange, Implications for Ex-CEO Zhao’s Sentencing!

FinCEN's recent investigations into Binance have unearthed troubling revelations about the cryptocurrency exchange's longstanding collaboration with the Russian exchange Garantex, which has been embroiled in money laundering controversies. This partnership persisted even after Garantex Europe, based in Estonia, had its license revoked in February 2022 due to AML concerns and was subsequently placed on the OFAC sanctions list in April 2022.

Court Cases

November 29, 2023

Football Legend Cristiano Ronaldo Sued Over Promotion Of Binance!

Portuguese football legend Cristiano Ronaldo is currently facing a proposed class-action lawsuit, with allegations stemming from his involvement in promoting the cryptocurrency exchange Binance. This legal challenge, filed on November 27 in a United States district court in Florida, accuses Ronaldo of aiding in the offer and sale of what are claimed to be unregistered securities, in collaboration with Binance.

November 28, 2023

Attention: Asian Crypto Scheme MEXC Appeals Against The Revocation Of Estonian License!

The Estonian entity of the crypto scheme MEXC, MEXC Estonia OÜ, has appealed against the revocation of its license in court in Estonia. The appeal reinstated the license. Pending the court's decision, the license is therefore to be recognized as valid. It remains to be seen whether the court will confirm the FIU's revocation of MEXC Estonia's crypto license. The Russian Mercuryo had also challenged the revocation of its license in court but ultimately lost.

November 28, 2023

Urgent Warning Against The Blockchain.com Fund Recovery Scammers!

FinTelegram has already issued several warnings against fund recovery scammers who misuse the company data of BLOCKCHAIN ACCESS UK LTD to trap victims. The scammers claim that they have discovered wallets that belong to the victims. In order to receive a payout, they would first have to send a reactivation fee of around €500. This is followed by several more requests for payments. Stay far away.