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December 8, 2023

URGENT CONSUMER WARNING: Beware of Fund Recovery Scams Involving AnyDesk and TeamViewer!

It must be clearly stated that fund recovery with scammers is not successful in 99% of cases. Likewise, 99% of fund recovery schemes are also scams. These are facts. It has come to our attention through various victim reports that certain so-called "fund recovery" companies, including those such as Pay Back Ltd, may be engaging in dubious practices that could further endanger your financial security and personal privacy.

December 8, 2023

Next In Line: Terra Luna Founder Do Kwon Allegedly Extradited To The U.S. Prosecutors!

In a saga worthy of a financial thriller, Terra Luna’s Do Kwon, once a high-flying name in the digital asset industry, is now facing the music for his alleged financial misdeeds. Known for his role in manipulating the TerraUSD stablecoin, Kwon's actions precipitated a jaw-dropping $40 billion crash, drawing the ire of prosecutors from the U.S. to South Korea, all clamoring for a piece of justice. Allegedly, Kwon will be extradited to the U.S. from Montenegro.

December 7, 2023

From Billionaire to Insolvency: The Not-So-Glamorous Fall Of Fallen Real Estate Tycoon René Benko!

In a plot twist that could inspire a tragicomedy, René Benko, the once-glorified Austrian entrepreneur and founder of the Signa Group, has officially fallen from his billionaire pedestal. The man who made a grand entry on the Forbes Billionaires List in 2019 with a whopping $5 billion is now grappling with the insolvency of his empire - a situation as precarious as walking on a tightrope over a canyon of debts.

December 7, 2023

US Monitoring: FBI And FinCEN Agents In Cyprus To Enforce Sanctions Against Russian Oligarchs And Their Enablers!

The recent arrival of a team of 24 FBI agents in Cyprus marks a critical step in the global enforcement of sanctions against Russian oligarchs and their enablers. This move underscores the island’s evolution into a significant financial center, attracting substantial Russian money and technology entrepreneurs from Israel. The agents are set to assist Cypriot police in unraveling the complex web of financial transactions and support provided to sanctioned Russians by local professionals.

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 1, 2023

SSNDOB Marketplace Administrator Sentenced To Eight Years In Prison!

In another cybercrime case, U.S. District Judge Kathryn Kimball Mizelle has sentenced Ukrainian national Vitalii Chychasov, aged 37, to eight years in federal prison. Chychasov's crime was his role in administering the SSNDOB Marketplace, notorious for selling personal information, including names, dates of birth, and Social Security numbers of individuals in the United States.

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.

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.

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.

November 28, 2023

The Binance FinCEN Monitoring: Next In Line Are Partners Including Advcash!

The landmark settlement between crypto exchange Binance and U.S. authorities, including the DOJ, OFAC, and FinCEN, The agreement contains explosive material for the crypto industry. This settlement mandates Binance to exit the U.S. completely and puts the crypto exchange under strict FinCEN monitoring. It has to report 100,000 suspicious transactions retrospectively, which will potentially expose partners such as Advcash.

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.

November 27, 2023

FinTelegram Insights: Lessons for Crypto Businesses From Binance’s Non-Compliance with MSB Regulations!

FinCEN's unprecedented $3.4 billion settlement with Binance, marking the largest in its history, highlights crucial lessons for the cryptocurrency industry, particularly in adhering to Money Services Business (MSB) regulations. Binance's failure in establishing an effective KYC/AML program have brought the MSB obligations under sharp focus, demonstrating that MSB registration, while mandatory, does not equate to regulatory supervision or endorsement.