Singh pled guilty to conspiracy to possess with the intent to distribute controlled substances and conspiracy to commit money laundering, charges for which he's expected to serve around 8 years in prison.
- "Defendant pleads guilty in dark web narcotics case involving largest cryptocurrency seizure of $150 million in drug proceeds", U.S. Attorney's Office, Southern District of Ohio [archive]
- "Dark-web drug-ring plea nets DEA millions in cryptocurrency", The Washington Post [archive]
The attackers were able to siphon 769 million $WSM from the contract, which was notionally worth around $7 million. However, the token lacks liquidity to support swapping hundreds of millions of tokens without depressing the price, and the token price dropped around 35% in the wake of the attack as the thief began to cash out over several days.
Meanwhile, WSM announced that they would be issuing a new token to replace the stolen tokens, and "renew[ing] the liquidity pool"... somehow.
The emails appeared to announce airdrops and exclusive offers from those companies, and recipients were invited to connect their wallets to claim tokens. Those wallets were then drained.
The attackers stole a variety of cryptocurrencies, and some outlets have reported the theft has totalled more than $3.3 million. However, because a substantial amount of that number comes from the illiquid Xbanking token, the actual liquid value of the tokens is likely closer to $700,000. The attackers have begun mixing the stolen funds through the Railgun privacy service.
- "MailerLite confirms hack that led to $3.3M crypto-phishing email attacks", CoinTelegraph [archive]
- "Coordinated crypto hack and phishing campaign floods investor emails: Alert", CoinTelegraph [archive]
- "Mailer Lite hacker impersonates crypto firms, draining $600,000 with phishing emails", The Block [archive]
GMEE is the token belonging to the Gamee blockchain-based gaming platform, which was acquired by the Animoca Brands company in 2020. Animoca is mostly known for its crypto-metaverse project, The Sandbox.
Tokens priced at around $1.8 million were drained from the project vaults. In a tweet, Concentric urged users to revoke contract approvals to avoid further losses.
The wallet addresses used by the exploiter appeared to connect the attacker to the $2.7 million OKX DEX theft in December 2023.
Despite all of that, Terraform Labs had continued to operate. However, it is now in dire financial straits, and has now filed for Chapter 11 bankruptcy in an attempt to sort out its financial obligations amid costly legal cases. Terraform Labs is currently a defendant in a complaint by the SEC, as well as several class-action lawsuits.
According to the company's bankruptcy filing, it has between $100 million and $500 million in assets, and liabilities in the same range.
After the dismal launch, Howard tried a few somewhat desperate-seeming moves to try to attract interest in the project: promising to send free crypto to some holders, redoing all the art after criticism of its quality, and slashing the NFT supply to 1,500. Despite all that, only 465 NFTs have sold (15% of the original supply, netting Howard 930 AVAX — around $28,400).
The flop was so bad that a member of the team behind the Avalanche blockchain put out a tweet distancing themselves from the project, stating that they didn't even know about the project until he announced it. "Gone are the days that individuals/Brands with large followings can just drop IP related NFTs out of nowhere and expect it to do well," they wrote, seemingly criticizing Howard's approach by writing that NFT creators must "mak[e] sure to do it in an organic way with proper intentions."
Debiex, however, only resembled a cryptocurrency trading platform. In reality, the website merely mimicked a trading platform, and the funds supposedly deposited there for trading purposes were taken by Debiex.
The CFTC identified five victims who were allegedly defrauded of a combined $2.3 million.
Regalado posted a video to his supporters explaining that he had been sued by the Colorado state securities regulator. "So the charges are that Kaitlyn and I pocketed $1.3 million, and I just want to come out and say that those uh charges are true," said Regalado in the video, presumably causing a cold chill to run down the spine of his defense attorney in the middle of whatever he was doing.
According to Regalado, God told them to first invest in a separate coin, which turned out to be a scam. Then, says Regalado, God told him to make his own currency, which Regalado called INDXcoin, "but also give them a 10x". Who knew God was a degen! Regalado had told investors that the funds would be going to "widows and orphans", but spent most of it on himself and his wife.
- "Colorado Securities Commissioner Files Complaint Against Alleged Cryptocurrency Fraud Scheme", Colorado Division of Securities press release [archive]
- "Pastor pocketed $1.3M selling worthless cryptocurrency, state says", BusinessDen [archive]
Luis Rubiales' NFT launch condemns "radicalism and feminist extremism" and describes alleged assault as "a small mistake"
In an announcement posted on Rubiales' Twitter account, the South Korean Moon Labs wrote: "Yes, we agree that Mr. Luis Rubiales made a small mistake in women world cup." The statement went on to condemn "extremism and radical feminism", and downplay Rubiales' actions as not "really" sexual assault. "Yes, Luis did small mistake but probably the biggest mistake was losing Luis Rubiales in football part [sic]."