Fed Fights Mashinsky’s Firing, Crypto Karaoke Hack, and More

Fed Fights Mashinsky's Firing, Crypto Karaoke Hack, and More


Prosecutors argue Mashinsky's charges should stick.

US federal prosecutors have dismissed former Celsius CEO Alex Mashinsky's charges of commodity fraud and market manipulation, arguing they are legally irrelevant.

In a lawsuit filed Jan. 26 in New York District Court, prosecutors rejected Machinsky's Jan. 12 claims, saying the two lawsuits were inconsistent and lacked “fair notice,” seeking to sever information related to Celsius' losses. He was struck from the charge.

Prosecutors argued that Mashinski misread the record and misinterpreted the relevant case law when arguing to dismiss the merchandise fraud charge.

Phemex

They argued that the alleged fraud “consisted of commodity fraud in connection with the sale of goods (Bitcoin)” and that there was “nothing consistent or unusual about that outcome.”

Responding to Mashinky's fair publicity argument to dismiss the market manipulation charges, prosecutors argued that the challenge was premature and should wait. [the] Conclusion of the Trial”.

Regardless, the arguments “fall apart” as Mashinsky knew – and publicly denied – that the CEL token price spike was “due to Celsius' massive purchases of CEL tokens” and that his statements “understood that the law would prohibit it.” “Many forms of deception.”

“The facts surrounding Celsius' bankruptcy filing are relevant to the alleged crimes,” prosecutors said in response to Mashinky's motion to dismiss Celsius' bankruptcy.

Mashinsky's trial is set for September 2024.

Goledo finance for the attacker: take the police

Decentralized financial (DeFi) protocol Goledo Finance confirmed in a January 27, 2010 post that it had recently been hit by a sudden credit attack and has now told the exploiter to contact the exploiter for a 10% bonus or face “further legal action”.

Earlier on January 27, Goledo posted to X that he was investigating “some irregularities in the lending pool.” Blockchain security firm MetaTrust later reported that the attacker sold $1.7 million worth of crypto.

In a series of X posts, Goledoo claims to have identified all the exploit wallet addresses and contacted crypto exchanges to block the associated Doxed accounts – which he says have been blocked from withdrawing funds.

“Local law enforcement agencies have been notified and are actively involved,” the project added. He offered a 10% bonus to return the looted funds.

Meanwhile, Goledo's affected loan pool and loan interests remain frozen for the time being.

It covered 11.5 million dollars

Blockchain-backed karaoke platform Somesing has revealed that it has been extorted for $11.5 million, with 730 million of its SSX tokens stolen in a January 27 hack.

Somesing said 504 million SSX tokens were yet to be distributed, with plans to release next year, while an additional 226 million tokens were stolen from the firm and distribution.

“According to the investigations carried out so far, it has been confirmed that the hacking incident is not related to any member of the SOMESING group,” he wrote. Given the methods, it is assumed to be carried out by professional hacker(s) who specialize in hacking virtual assets.

The South Korea-based Cyber ​​Investigation Unit of the country's police agency has announced that it will contact Interpol to investigate the matter.

He also said that crypto exchanges that list SSX have temporarily suspended deposits and withdrawals and are working to monitor on-chain transfers to determine where the funds ended up and possibly identify the attackers.

OpenSea is reportedly open to acquisition

The head of non-fungible token (NFT) marketplace OpenSea is reportedly taking an “open-minded approach” to acquisitions and acquisitions.

In a Jan. 27 DL news release, OpenSea CEO and founder Devin Finzer said the company is not hunting for a buyer and has “no plans to acquire one,” but that “if the right partnership comes along, that's something we're interested in.” It should definitely be considered.”

OpenSea once dominated NFT trading volumes and market share, but now it's behind a rival blurb. At its peak, OpenSea saw between 60,000 and 80,000 transactions per day, which is now down to 20,000 per day, according to Dapradar data.

Related: OpenSea investor cuts platform stake by 90%

Volume has increased, with transaction volume reaching more than $2.8 million on January 27 — a 98 percent decrease from $144.5 million at the same time in 2022.

OpenSea's Always Exclusive Active Wallet (White) and Transactions (Green). Source: Dapradar

Meanwhile, on January 27, Blur posted $15 million in trades despite having less than half of OpenSea's nearly 11,000 unique active wallets.

Finzer said Blur “cut very different corners” in its regulatory and legal approach, and OpenSea's focus was on “deleting fraudulent or problematic collections” to keep users safe.

Other news

Commodity Futures Trading Commission Chairman Rustin Behnam said the approval of spot bitcoin (BTC) exchange-traded funds (ETFs) could be misinterpreted by investors as a sign that the asset is being regulated “when there is nothing” to control. Digital assets.

Hong Kong's Securities and Futures Commission (SFC) has warned of risky savings programs linked to the floky ecosystem that claim to post annual returns of up to 100%. Floki's group, however, said the SFC's complaint was that the staking programs were too well-executed.

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