Investors in the cryptocurrency Ponzi scheme OneCoin may finally get some relief through a Department of Justice program, some 12 years after the project launched. In the United States, victims of the $4 billion crypto Ponzi scam OneCoin are finally receiving compensation. On April 13, the US Department of Justice said that $40 million in assets are available to anyone who purchased OneCoin between 2014 and 2019 and experienced a net loss. This program marks a milestone for OneCoin victims, most of whom had no recourse to get back what they lost, until now. Victims in the UK attempted a class action suit in 2024, but it fell apart when litigation funding was terminated. Read more
Australia’s A$24B digital asset opportunity hinges on regulation. Clear rules could drive tokenized markets, faster payments and institutional investment. Australia could generate A$24 billion, or about $17 billion, annually from digital assets and tokenized finance. But that opportunity depends on whether policymakers establish clear and supportive regulatory frameworks. Tokenization could transform financial markets by improving liquidity, automating settlement processes and expanding investor access to assets such as foreign exchange, equities, government debt and investment funds. Tokenized money, including CBDCs and stablecoins, could significantly reduce the cost and time of cross-border payments by minimizing reliance on traditional banking networks. Read more
The corrected filing details timeline, caveats and conditions tied to a potential Naver Financial IPO after the Dunamu share swap deal. South Korean tech company Naver and Upbit operator Dunamu said in a corrected filing that their planned share swap includes forming an initial public offering (IPO) committee for Naver Financial within one year of closing, outlining a path toward a future listing. The disclosure, outlined in the corrected filing on Wednesday, said the companies would pursue a listing within five years, with a possible two-year extension. Naver said it plans to secure voting rights in Naver Financial so the fintech unit remains a consolidated subsidiary after the deal. The filing suggests the deal goes beyond a simple ownership change, outlining a structure that could eventually bring Upbit’s parent under a listed fintech group. The move indicates Naver and Dunamu are positioning any future South Korea listing at the fintech-parent level rather than through a standalone listing of Upbit’s par...
Ukrainian authorities detained a suspect linked to a $100 million cybercrime network targeting the US and Europe, seizing $11 million in assets, of which $3 million was in cryptocurrency. Ukrainian authorities have arrested a member of an international cybercrime network wanted by the FBI over allegations of fraud and money laundering tied to losses exceeding $100 million across the United States and Europe. The suspect was arrested in the Transcarpathia region during a joint operation involving the National Police of Ukraine and other internal security units, Ukraine police said on Thursday. Officials said the man had been wanted internationally for some time and was eventually found in Uzhhorod, where he was living under a fake identity using forged documents. “He issued fictitious documents about his own death and continued to live in Ukraine as a “new” person, using false documents,” prosecutors said, adding that he laundered illicit proceeds through property acquisitions, often using relatives as interme...