Greboca  

Web3 is going just great [English]  -  Binance fined over $4 billion, founder pleads guilty and resigns

 -  Novembre 2023 - 

Binance logo, a yellow diamond next to the word Binance in yellow caps

Binance founder Changpeng "CZ" Zhao pleaded guilty to money laundering charges and agreed to step down as CEO of Binance, the largest global cryptocurrency exchange. He will pay a $50 million fine and faces the possibility of 18 months in prison.

Binance agreed to pay $4.3 billion in restitution for widespread wrongdoing including failure to implement proper anti-money laundering programs, unlicensed money transmitting, and sanctions violations. Binance will be allowed to continue operating, but will be subjected to a three-year-long monitorship program to ensure AML and sanctions compliance.

Simultaneously with the DOJ action, Binance reached agreements with the CFTC, FinCen, and OFAC on ongoing legal issues. Notably, the SEC lawsuit was not among those settled.

CZ posted a long thread on Twitter, admitting "I made mistakes, and I must take responsibility," carefully sidestepping mentioning what any of those mistakes were.

par Molly White

Web3 is going just great [English]

A timeline recording only some of the many disasters happening in crypto, decentralized finance, NFTs, and other blockchain-based projects.

Blueberry Protocol narrowly avoids $1.3 million hack

 -  23 février - 

The Blueberry defi leverage project had a bug in their lending contract, where improper decimal handling allowed for an exploit. An attacker (...)


DeezNutz_404 hacked for $170,000

 -  23 février - 

I might otherwise skip over news of a $170,000 hack, given how commonly thefts of that scale happen in the crypto world, but with a name like (...)


Axie Infinity co-founder suffers $9.5 million loss after wallet compromise

 -  23 février - 

Jeff "Jihoz" Zirlin, a co-founder of the Axie Infinity blockchain game, lost around $9.5 million as two of his crypto wallets were compromised. (...)


Influencer "Crypto Rover" accused of pump-and-dump and other shady behavior

 -  21 février - 

A popular cryptocurrency influencer known as "Crypto Rover" has been accused by blockchain sleuth zachxbt of shady behavior, including accepting (...)


Over $55 million taken from defunct AAX crypto exchange

 -  21 février - 

The Hong Kong-based AAX cryptocurrency exchange suspended withdrawals in November 2022, only days after the FTX collapse and related chaos in the (...)