Another week has passed, and a new edition of CryptoWatch is here. Robinhood has the top spot as it received a Wells Notice from the US Securities and Exchange Commission (SEC).
On the other hand, there is also the good news that FTX is repaying the debts it owes to the defrauded customers, investors, and others from Sam Bankman-Fried’s reign.
The crypto scammer also returned half of the stolen WBTC holdings they stole after being promised a 10 percent cut for its return.
Robinhood Received a Wells Notice from the SEC
Robinhood received a Wells Notice from the SEC after it concluded its investigation of the company, which means that there could be a lawsuit regarding a violation of the Commission’s regulations.
However, Robinhood stated that the company complied with the rules present and worked with the SEC behind this.
It was regarded by the company that the SEC recommended an “enforcement action” after its probe, with the crypto and investment company arguing that it followed everything,
The SEC revealed that it could file a civil injunctive action, among other suits. Still, Robinhood said the SEC was unclear about the regulations as the company repeatedly asked them to follow.
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FTX Repay Debts from Sam Bankman-Fried’s Days
FTX, the defunct crypto exchange company, has been true to its word down to the last dime as it repaid its debt to affected customers, investors, and more in full last week.
The company plans to pay off its $11 billion in debt after the actions of the convicted fraudster and its former CEO, Sam Bankman-Fried, mainly relying on the boosted Bitcoin prices.
The company recently released a statement regarding its Chapter 11 plan, claiming that it can pay its creditors in full and with interest.
Previously, FTX sold its $824 million stake to the AI firm Anthropic, which helped them get back on their feet and proceed with this Chapter 11 plan. John Ray III leads this repayment plan for the company, stepping in as CEO in November 2022.
Crypto Scammer Returns 50% of Stolen WBTC
A crypto scammer recently returned 50 percent of what they stole from a certain victim after luring them into an address-poisoning phishing scam that stole 1,155 Wrapped Bitcoin, amounting to $70.5 million. The scammer already converted the money into Ethereum and transferred it to numerous accounts, totaling 22,956 ETH.
The scammer returned the $34.7 million of stolen goods after the public callout of the victim, who claimed that there would be an “admin” fee for the thief who returned the WBTC.
After several exchanges in the conversation, it was reportedly returned as the bad actors were promised 10 percent of the total stolen goods.
This means that if fully returned, the scammer gets to keep $705,000 worth of the money. To date, only half have been returned, and no further developments have been publicized.
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