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NFT Collector Who Fell To A Phishing Scam Takes OpenSea To Court

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NFT collector Robbie Acres has taken legal action against OpenSea NFT Marketplace for keeping his account locked following a scam. The collector is displeased with the NFT marketplace for not responding to his complaint after he lost his collections to a phishing scam.

However, the collector’s leading counsel claimed Acres’ case isn’t the only one. According to the lawyer, several other OpenSea users faced similar problems, and the platform overlooks some issues.

Robbie Acres said he immediately reported to OpenSea after his NFTs got stolen through a phishing scam. But it took 48 hours for the marketplace to respond, before which the thief sold his assets at a lower value.  Read more...

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Bankruptcy Court Approves FTX’s Plan to Sell Ledger X

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Judge John Dorsey has allowed the sale of four necessary units of failed crypto exchange FTX, as stated in a petition in the Delaware Bankruptcy Court. LedgerX, a derivatives trading platform, and Embed, a stock trading platform with regional branches, are among the assets.

FTX Selling Its Shares Quickly

The sale of the FTX assets, which comprises the European and Japanese divisions of the cryptocurrency exchange, can now begin, with investment firm Perella Weinberg having received interest from 117 potential buyers.  Read more...

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Sam Bankman Fried Pleads Not Guilty, Trial Date Set By Court

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FTX founder and former CEO Sam Bankman Fried (SBF) appeared before U.S. District Judge Lewis Kaplan in a Federal Court in New York. The former executive pleaded not guilty to eight charges, including those related to wire fraud and conspiracy to commit fraud, allegedly as part of an agreement with U.S. law enforcement agencies.

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Craig Wright Ordered To Pay Peter McCormack’s Legal Fees, Faces Contempt Of Court Hearing

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A judgment made in the U.K. found Wright breached an embargo and must pay McMormack’s legal fees.

A judgment in Peter McCormack’s current case against Craig Wright concluded that Wright must pay the court fees of McCormack on an indemnity basis, amongst other findings.

The conclusion of the trial also sets up an inquiry into Wright for contempt of court, with Justice Chamberlain of the Royal Courts of Justice writing, “I will issue a summons requiring Dr. Wright to attend a directions hearing before a judge nominated by the Judge in Charge of the Media and Communications List, who will give directions for the conduct of contempt proceedings in respect of breach of the embargo.”  Read more...

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Royal Rumble: FTX Asks Court To Help In Fight Over $450 Million Robinhood Shares

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Multiple news agencies reported on Saturday that the bankrupt cryptocurrency exchange FTX has requested a U.S. court for assistance in a dispute over ownership of approximately $ 450 million worth of Robinhood Markets stock.

Based on a court filing made by the Bahamas-based FTX, 56 million shares of Robinhood Markets are the focus of this conflict, and as of today, three separate parties have asserted ownership.

The attorneys for the failed crypto exchange sought the bankruptcy judge handling its insolvency case to suspend access to the shares pending confirmation of their genuine ownership.  Read more...

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Ripple: SEC Begs Court Not To Disclose Hinman Documents, Threatens Appeal

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While U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler is calling for a crackdown on the crypto industry based on existing laws and jurisprudence, he may find his nemesis in Ripple and the battle over the Hinman documents.

As Bitcoinist reported yesterday, redactions of all documents related to the summary judgment were due to be filed by the SEC and Ripple by yesterday. Both parties met that deadline in a timely manner. And the SEC’s filing reveals that it is still not ready to release the Hinman documents to the public.  Read more...

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Ripple Execs Slam SEC And Wells Fargo As Updated Court Schedule Is Released

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Ripple remains belligerent against the U.S. Securities and Exchange Commission (SEC). Both CEO Brad Garlinghouse and general counsel Stuart Alderoty wrote tweets denouncing the SEC’s double standards. Garlinghouse tweeted a meme in reference to recent scandals at banking giant Well Fargo.

The meme shows DC Comics superhero Batman slapping his sidekick Robin. The latter’s speech bubble reads, “But Wells Fargo illegal activities!” While Batman’s response is, “We only care about FTX.”

Garlinghouse uses the meme to express his frustration that the recent scandal at the fourth-largest bank in the U.S., Wells Fargo, is not being reported with the same level of outrage as FTX.  Read more...

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Hodlonaut Defeats Craig Wright In Norwegian Court Case For Defamation

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Wright must pay for court costs, and the court determined there is sufficient evidence for Hodlonaut to debate whether or not Wright is Satoshi Nakamoto.

Hodlonaut, a pseudonymous Bitcoiner, has won a court case for defamation against Craig Wright who claimed to be Satoshi Nakamoto in a Norwegian court, per a translated transcript sent to Bitcoin Magazine.

While this case did not seek a definitive answer to the question of legitimacy to Wright's claims, the judge did need to ascertain the likelihood of the possibility that Wright was telling the truth about being the creator of Bitcoin in order to decide if Hodlonaut was liable for damages based on his social media statements.  Read more...

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Three Arrows Founders’ Locations Unknown As Court ‘Manhunt’ Begins

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Unconventional actions are being taken by the liquidators of the collapsed crypto hedge firm Three Arrows Capital to compel the fund’s founders into complying with the law’s due process.

After a British Virgin Islands court apparently placed the company into liquidation at the end of June, the Singapore-based firm filed for Chapter 15 bankruptcy in a federal bankruptcy court in the Southern District of New York in July.

Now, based on court documents, as traditional methods of service have failed, the court-appointed liquidators from the consultancy firm Teneo and its attorneys have asked a US judge to allow them to serve subpoenas on 3AC founders Su Zhu and Kyle Davies via their social media accounts and email addresses, Forkast and other news outlets reported, Tuesday.  Read more...

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UK Court Bans ‘Britain’s Pablo Escobar’ From Using WhatsApp And Bitcoin

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As the popularity of bitcoin grows, various governments across the globe have been paying attention to it, the people who invest in it, and what they do with the cryptocurrency. One of the high profile cases that have emerged has been the one of Liverpool man, Curtis Warren, famously known as the ‘Brit Pablo Escobar.’ Warren recently received a judgment from a UK court that has banned him from ever using bitcoin.

Nabbing A Notorious Criminal  Read more...

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Celsius In Fresh Trouble: New Court Filing Says Company Hid Financial Woes, Misled Investors

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According to a court document from the Vermont Department of Financial Regulation, bankrupt cryptocurrency lender Celsius Network made “false and misleading claims” regarding its “financial health and compliance with securities laws”.

Celsius Was Ran Like A Ponzi Scheme

The Vermont Department of Financial Regulation said in a document supporting the Justice Department’s request to appoint an examiner in Celsius’ bankruptcy case that the company may have been paying yields using a Ponzi-like system.  Read more...

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Crypto Exchange Zipmex Granted Three Month Creditor Protection From Singapore Court

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Crypto Exchange Zipmex has just received a moratorium extension from Singapore High Court. At the moment, Zipmex has more than three months of creditor protection. This will give the crypto exchange some more time so that they could devise the next steps of their funding plan.

Zipmex had filed for bankruptcy protection and had also suspended its withdrawals at the beginning of July. Now with the extension, the exchange will be safe against creditor lawsuits until December 2.

The moratorium extension has been granted to Zipmex’s all five entities. Zipmex’s solicitors had applied for six months of protection for all five entities which are available in Thailand, Singapore, Indonesia and Australia.  Read more...

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Singaporean Authorities To Hold Court Cases And Marriages In Metaverse

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The digital space is creating more impressive output recently in different areas of life, with the introduction of metaverse, more people believe in the possibility of getting the digital form of real-life. The metaverse is gradually making its waves with diverse applications in the virtual space.

It’s becoming quite intriguing how you can get the virtual form of several physical items and objects. There is even a possibility of getting your digital lands, houses, clothes, and other assets. Also, you can conveniently host events on virtual platforms.  Read more...

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Indian Government Unveils Draft Crypto Bill Ahead of Supreme Court Hearing

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Indian Government Unveils Draft Crypto Bill Ahead of Supreme Court Hearing

The Indian government has officially released the report by the interministerial committee tasked with proposing crypto measures. The announcement came one day before the country’s supreme court was scheduled to hear the writ petitions against the crypto banking restriction. The report contains the draft bill which proposes a ban on cryptocurrency.

Also read: G20 Leaders Issue Declaration on Crypto Assets – A Look at Their Commitments

Draft Bill Now Public, Supreme Court Hearing Delayed

The Indian supreme court was scheduled to hear the crypto case on July 23. It was expected to address the banking restriction by the central bank, the Reserve Bank of India (RBI). However, the case was not heard by the court on Tuesday.  Read more...

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Court Declares Bitcoin Legal in China as a ‘Virtual Property’

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China is not a bitcoin-friendly country as it has taken a slew of measures to kill the flagship cryptocurrency, which include imposing a blanket ban on all initial coin offerings (ICO) and shuttering crypto exchanges. But the latest order by Hangzhou Internet Court suggests that owning bitcoin is not illegal in China as it gave […]

The post Court Declares Bitcoin Legal in China as a ‘Virtual Property’ appeared first on CCN Markets

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Renewed Ransomware Menace Hits Georgia Court System

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Ransomware, which recently totally disrupted the government in Baltimore, has now overtaken a court system in Georgia . Ransomware Making A Comeback? After receiving a ransom note, officials in Georgia decided to take a system offline to be safe. Bruce Shaw, an official with the state court system, said: “Our systems have been compromised, so […]

The post Renewed Ransomware Menace Hits Georgia Court System appeared first on CCN Markets

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Bitcoin ‘Inventor’ Craig Wright Claims He Can’t Access Coins in Court Testimony

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Self-Proclaimed Bitcoin 'Inventor' Claims He Can't Access Coins in Court Testimony

On June 28, Craig Wright, the Australian native who claims to be Satoshi Nakamoto, spent the day in a Florida court battling with the Kleiman attorney. Wright became emotional when he told the court that he designed the network but didn’t like how it turned out. At one point he told the court he was “ashamed of his invention.”

Also Read: These Are 2019’s Biggest Cryptocurrency Winners and Losers so Far  Read more...

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‘Bitcoin Inventor’ Craig Wright Allegedly Cries in Court Amid $10B Crypto Lawsuit

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Self-proclaimed bitcoin inventor Craig Wright reportedly cried in court during cross-examination in the $ 10 billion crypto lawsuit filed against him by the estate of deceased computer genius Dave Kleiman. On Friday morning, Wright was captured on a Twitter video as he headed into the Paul G. Rogers Federal Building in West Palm Beach, Fla. Estate […]

The post ‘Bitcoin Inventor’ Craig Wright Allegedly Cries in Court Amid $ 10B Crypto Lawsuit appeared first on CCN Markets

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‘Bitcoin Inventor’ Craig Wright Basks in Satoshi Glow as Court Date Looms

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By CCN Markets: Self-proclaimed bitcoin inventor Craig Wright had his fondest wish come true when the capital city of Colombia formally recognized him as Satoshi Nakamoto. Bogota Grants Craig Wright’s ‘Satoshi’ Wish Officials in Bogota presented Wright with a fancy certificate affirming him as the creator of bitcoin. The events unfolded at the 2019 Expo-Bitcoin International in Bogota, a week-long crypto conference. Wright, the chief scientist at nChain, and Jimmy Nguyen, nChain’s CEO, both attended the conference, where they discussed how Latin Americans could use cryptocurrencies to improve their economies. Notably, Wright discussed “bitcoin and the law.” Certificate: Wright Is  Read more...

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