Analysis Crypto by Thebittimes.Com

The United States Securities and Exchange Commission continues reducing hostility towards crypto and non-fungible token projects. In yet another bullish move, the regulatory commission has ended an investigation into CyberKongz, a renowned non-fungible token project created on Ethereum. Previously, the United States SEC was known for its harshness to the crypto and NFT projects. The SEC Drops Probe Into CyberKongz In an April 15 blog post, the CyberKongz team confirmed that the United States Securities and Exchange Commission has dropped its investigation into their non-fungible token and gaming projects. Launched in March 2021, CyberKongz is a non-fungible token project featuring a limited edition of 1,000 randomly generated 2D and 3D avatars of gorillas hosted on the Ethereum blockchain network. The NFT collection was created by the digital artist Myoo. The SEC has officially closed its investigation into CyberKongz. After years of litigation, unjust allegations, crippling legal...

Bithumb was raided by South Korean authorities today after it allegedly provided its former CEO with $2 million for an apartment deposit. YTN reports that the Seoul Southern District Prosecutor’s Office conducted the raid on Bithumb’s Yeoksam-dong headquarters after Kim Dae-sik allegedly misappropriated 3 billion won to buy the property in Seoul. The Financial Supervisory Service initially launched an investigation and handed it over to Seoul’s prosecutors. South Korean crypto scandal prompts Upbit and Bithumb raids Read more: Pictures from Singapore raid that seized $735M in crypto and other assets Bithumb was raided back in 2023, along with Upbit, after a South Korean lawmaker used the exchanges to hold roughly $4.5 million worth of wemix coins.  The official was accused of trading cryptocurrency during parliamentary sessions and had voted in favor of various crypto legislation . Got a tip? Send us an email or ProtonMail. For more informed news, f...

The Secretary for Security of Hong Kong, Chris Tang Ping-keung, has pledged to address the JPEX crypto exchange fraud, which is being called the country’s most significant digital asset deception. The seriousness of the matter was brought to light in a press conference held on Sep. 27. According to local reports, authorities have already made significant headway. Twelve individuals have been apprehended, and asset s worth over 85 million HK$ ($10.8 million), comprising cash and other asset s like real estate and digital currency, have been seized. Hong Kong security chief vows to hunt down ringleader of crypto platform JPEX https://t.co/eBk2tonQTC — South China Morning Post (@SCMPNews) September 27, 2023 Of the arrested, three were associated with JPEX Technical Support Company, while two notable YouTubers, Chan Wing-yee and Chu Ka-fa, were also implicated. The scandal revolves around JPEX, a crypto exchange, which allegedly operated without authorization and deceiv...