French police arrested three suspects after a break-in targeting a Binance France executive, RTL reported. Binance has confirmed a home invasion involving an employee. Update Feb. 13, 1:44 pm UTC: This article has been updated to include a comment from Yi He, the co-founder and chief customer service officer at Binance. Three suspects were arrested in France after a reported break-in targeting the home of a senior figure at Binance’s French unit, with the company confirming to Cointelegraph that one of its employees was the victim of a home invasion. Local outlet RTL, citing anonymous police sources, reported that three hooded individuals carrying weapons attempted to enter an apartment in Val-de-Marne around 7:00 am CET Thursday. Read more
Post-quantum Bitcoin wallets are already on sale, leaving investors to decide whether they’re buying insurance or paying up fear tax. Cryptocurrency wallet makers and security companies are pushing out post-quantum products even though large-scale quantum computers capable of breaking Bitcoin do not exist yet. The US National Institute of Standards and Technology (NIST) finalized its first post-quantum cryptography standards in 2024 and called for migrations before 2030. As standards bodies plan for a gradual cryptographic transition, parts of the wallet market are already monetizing that future. Read more
A federal judge sentenced PGI founder Ramil Palafox to 20 years in prison for running a Bitcoin Ponzi scheme that raised over $200 million from customers between 2019 and 2021. A US federal judge in Virginia sentenced the chief executive of Praetorian Group International to 20 years in prison for running a $200 million cryptocurrency investment scheme that defrauded tens of thousands of investors. According to the Department of Justice, 61-year-old Ramil Ventura Palafox, a dual US and Philippine citizen, was convicted of wire fraud and money laundering for what prosecutors described as a Ponzi scheme that falsely promised daily returns of up to 3% from Bitcoin trading. The US Attorney’s Office for the Eastern District of Virginia said investors poured over $201 million into PGI between December 2019 and October 2021, including at least 8,198 Bitcoin (BTC) valued at about $171.5 million at the time. According to prosecutors, victims suffered losses of at least $62.7 million. Read more