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Chinese exile once linked to Trump strategist gets 30-year sentence in $1 billion fraud
A U.S. judge sentenced Chinese businessman Miles Guo, the billionaire behind the fraudulent crypto venture Himalaya Coin, to 30 years in prison, long after a trial jury found the well-connected defendant was guilty of several crimes in 2024. Guo, 55, also known as Ho Wan Kwok and a number of other aliases, was a self-imposed exile from China who had a close relationship with Steve Bannon, the…
Taiko halts Ethereum layer-2 network after a bridge exploit, token dives
Security firm BlockSec said its initial investigation traced the likely cause to a signing key for Raiko, which Taiko uses to produce proofs indicating a transaction is genuine, that was left publicly accessible on GitHub. The key is meant to stay sealed inside secure hardware so the proofs can be trusted. If it’s exposed, attackers can enroll their own provers as legitimate and sign fraudulent…
Aave asks court to block $71 million crypto seizure tied to North Korea claims
Leading decentralized lending platform Aave has asked a U.S. federal court to block an attempt by victims of North Korean terrorism to seize about $71 million in crypto frozen after last month’s rsETH-related exploit, escalating a dispute that has already split Arbitrum’s governance. The filing, submitted Monday in the Southern District of New York, seeks to vacate a restraining notice served on…
Crypto exchange Kraken targeted in extortion attempt; says no breach and no funds at risk
Crypto exchange Kraken is facing an extortion attempt by a criminal group that threatens to release videos purportedly showing access to internal systems containing client data, the company said Monday. The Wyoming-based firm said it identified and shut down two instances of inappropriate access tied to individuals within its support team, each involving limited client data. “Our systems were…
Ramil Ventura Palafox gets 20 years sentence over $200 million bitcoin Ponzi scheme
The CEO of Praetorian Group International (PGI) was sentenced to 20 years in prison in the U.S. for running a global Ponzi scheme that falsely claimed to invest in bitcoin and foreign exchange trading. Ramil Ventura Palafox, 61, promised daily returns of up to 3%, misleading more than 90,000 investors and draining over $62.7 million in funds, according to a Thursday statement from the U.S.…
