Enforcement Actions

According to Yonhapnews, Gwangju Police arrested 3 suspects led by a man in his 60s on charges of virtual asset fraud since November 2024. The suspects allegedly defrauded over 100 elderly victims aged 70–80 by setting up offices in Seoul, Gwangju, and Gunsan, promising guaranteed returns and

BitMart exchange and its founder Sheldon Xia are facing an ultimatum from users and employees demanding transparency by Aug. 19, following the exchange's announcement weeks ago that it would wind down entirely. Users and staff are demanding proof of reserve funds, an independent audit, and a

According to a public letter posted to BitMart's official account, users and employees gave founder Sheldon Xia until August 19 to disclose reserves, submit to an independent audit, and provide a repayment plan, or evidence will be escalated to regulators and law enforcement across multiple

According to Digital Asset, South Korea's Broadcasting and Communications Committee designated Polymarket as a channel for illegal gambling on August 18, imposing access restrictions. The committee found that Polymarket allows users to bet on political, electoral, and sports outcomes, with a

According to Shanghai courts on August 18, the Shanghai Intermediate People's Court released a landmark judgment clarifying the criminal liability of 'traffic inciters' in crypto-related telefraud cases. Between February 2022 and April 2023, three defendants lured 30 victims into offshore scam

The European Union approved its 21st sanctions package against Russia on July 23, extending cryptocurrency transaction bans to 14 offshore platforms across Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan, and Belarus. The package introduces restrictions preventing Russians and

Curve Finance founder Michael Egorov criticized Pump.fun on August 17, 2026, calling it “a casino filled with scams known as memecoins.” A report released by Solidus Labs in May 2025 showed that 98.6% of the Pump.fun tokens it analyzed exhibited pump-and-dump or rug-pull characteristics. 98.6% of Pump.fun Tokens Are Pump-and-Dump Schemes, 68% Stop Trading on the Day of Issuance Token quality data is at the core of the controversy. A report released by Solidus Labs in May 2025 showed that 98.6% o

The U.S. Attorney’s Office for the Northern District of Georgia announced on August 18 that Fijian authorities, in coordination with the U.S. Federal Bureau of Investigation (FBI) and the U.S. Department of State, deported Edward Zimbardi last Friday. Zimbardi fled to Fiji after learning of the FBI investigation and remained there for more than a year. The indictment was filed on July 8 and contains 12 counts of wire fraud, 12 counts of money laundering, and one count of conspiracy to commit mon

Edward Zimbardi, the alleged mastermind behind a $165 million cryptocurrency Ponzi scheme, was deported from Fiji on Friday and returned to the United States to face federal fraud and money laundering charges. The US Attorney's Office for the Northern District of Georgia announced Monday that

According to the US Attorney's Office for the Northern District of Georgia, Edward Zimbardi, the alleged mastermind of a $165 million cryptocurrency Ponzi scheme, was deported from Fiji on Friday and returned to the United States on Monday to face federal fraud and money laundering

BitMart’s official Chinese-language X account published an open letter on August 17, demanding that founder Sheldon Xia and partner Nancy (Yi) Li publicly disclose the platform’s assets, liabilities, available reserves, and the status of user funds by August 19, and submit a specific, executable repayment plan. If verifiable asset disclosures and a repayment plan were not provided by the deadline, the poster threatened to submit the evidence to regulators in various jurisdictions. Five Major Dem

Hong Kong-born crypto investor Harry Yeh fell to his death from the 30th floor of his mansion in Paraguay on August 7 and was found completely naked. According to The Oriental Weekly, Paraguayan police have not ruled out any possibilities, including an accident, suicide, or murder. The crypto community widely suspects that the incident was a “Wrench Attack”—that is, the use of violence to force a victim to hand over crypto passwords or private keys. Harry Yeh Studied Electrical Engineering at UC

Bitcoin (BTC) has seen a slight rebound, temporarily trading at around $64,310 on August 18. According to an official press release issued by the U.S. Department of the Treasury, the Treasury has issued a Notice of Proposed Rulemaking under the GENIUS Act, seeking public comment on regulations governing the issuance, provision, and sale of payment stablecoins in the United States. The Office of the Comptroller of the Currency conditionally approved Trump family-backed World Liberty Financial’s a

According to Reuters, on August 18, Edward Zimbardi, a Georgia man, was extradited from Fiji and charged with 12 counts of wire fraud, 12 counts of money laundering, and one money laundering conspiracy charge related to a $165 million cryptocurrency Ponzi scheme. Between June 2022 and August 2023,

Chainalysis Government Solutions sued the United States government on July 27 over an Immigration and Customs Enforcement (ICE) contract awarded to TRM Labs. The lawsuit challenges ICE's decision to award the contract to TRM Labs, with Chainalysis arguing the decision was 'arbitrary, capricious, and

According to court filings, Chainalysis Government Solutions sued the U.S. Court of Federal Claims on July 27, challenging the Immigration and Customs Enforcement (ICE) decision to award a $94.6 million contract to competitor TRM Labs. Chainalysis argued the award was "arbitrary, capricious, and

According to an OCC official notice on Friday, the U.S. Office of the Comptroller of the Currency conditionally approved World Liberty Financial's application for a national trust bank charter. The company will operate as World Liberty Trust Company, National Association, and plans to issue U.S.