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Over $3.5 Billion In Token Unlocks Scheduled For July
July is set to witness a significant surge in altcoin supply emission, with over $3.5 billion worth of tokens scheduled for unlocking. This wave of unlocks is likely to impact the market, which has already shown difficulty in absorbing such substantial supply emissions. According to Token Unlocks, the largest token unlock this month will be $WLD, with a staggering $600 million worth of tokens being released. This accounts for 53.36% of its current circulating supply, making it the most substantial individual token unlock in July. $SOL is also seeing a notable unlock, with approximately $400 million worth of tokens being...
South Korean CEO Arrested in $366M Crypto Fraud Case
The fraud has had a severe impact on elderly investors, many of whom were not familiar with cryptocurrency. In a startling development, Byun Young-oh, the CEO of South Korean tech company Wacon, has been taken into custody in connection with a massive cryptocurrency fraud. The alleged scam, centered around Ethereum investments, is said to have defrauded more than 500 individuals, leading to significant financial losses, said to involve approximately $366 million. Details of the Fraud As reported by local Korean news media iNews24, Byun Young-oh, along with an accomplice named Yeom, is accused of operating a Ponzi scheme disguised as...
Binance Tries to Head off Indian $86 Million Penalty
By Mark Hunter 6 days agoWed Aug 07 2024 08:03:12 Reading Time: 2 minutes Binance is contesting an $86 million tax showcause notice from India’s DGGI issued last week The notice pertains to fees collected from Indian customers from July 2017 to March 2024 Binance has recently accepted a $2.2 million fine for unregistered access by Indian users Binance is contesting an $86 million tax showcause notice issued by India’s Directorate General of Goods and Services Tax Intelligence (DGGI). The notice, issued last week, acts as a potential prelude to action, with the amount relating to fees collected from Indian...
