Tag

Stolen Funds

All articles tagged with #stolen funds

sports1 year ago•1 min saved

"Jaguars' Request Denied: FanDuel Refuses to Return $20M Stolen Funds"

The Jacksonville Jaguars are seeking to recover $22 million stolen by a former employee through sports betting and daily fantasy tournaments on FanDuel, but the sportsbook is reportedly denying their request, stating that they obtained the money fairly. The ex-employee, Amit Patel, lost approximately $20 million on FanDuel and another $1 million on DraftKings Sportsbook, and has pleaded guilty to stealing the funds through a virtual credit card system. Patel's attorney stated that almost all the stolen money was spent on gambling in the hope of winning it back to repay the funds and make the Jaguars whole.

via New York Post |

#embezzlement #fanduel #jacksonville-jaguars

cryptocurrency2 years ago•2 min saved

Millions in Crypto Assets Drained, HTX Reinstates Bitcoin Deposits, Justin Sun Promises Epic Airdrop

Over $100 million worth of altcoins have been drained from firms linked to Tron founder Justin Sun, with two protocols, crypto exchange HTX and Heco Bridge, being hacked. The hacks resulted in a combined loss of $100 million, with $86 million coming from the Heco Bridge. Assets including USDT, HBTC, SHIB, UNI, USDC, LINK, and TUSD were transferred to different accounts. Sun assures that all HTX customer funds are secure, but withdrawals and deposits will be temporarily suspended until the specific reason for the hack is identified.

via The Daily Hodl|

#cryptocurrency #ethereum #hacks

crime2 years ago•7 min saved

"Businessman's $8 Million COVID Relief Theft Funds Private Island and Texas Oil Fields"

Businessman Patrick Parker Walsh has been sentenced to five and a half years in federal prison for stealing nearly $8 million in federal COVID-19 relief funds, which he used to purchase a private island in Florida and oil fields in Texas. Walsh is one of thousands of thieves who collectively plundered over $280 billion in federal COVID-19 aid, with an additional $123 billion wasted or misspent. The stolen funds were used for luxury purchases such as houses, expensive cars, jewelry, strip club visits, and vacations. The government's goal of quickly distributing aid without stringent safeguards allowed these fraudsters to easily lie on applications and receive the money.

via CBS News|

#covid-19-relief-aid #crime #fraud

business2 years ago•0 min saved

FTX Insider Reveals Stolen Customer Funds Used for Political Donations

Former FTX executive Nishad Singh testified in the fraud trial of FTX founder Sam Bankman-Fried, revealing that the company made political donations in employee names using stolen customer funds.

via The Wall Street Journal|

#business #fraud-trial #ftx

crime2 years ago•2 min saved

Man sentenced to prison for $3.4 billion Bitcoin theft hidden in Cheetos tin and safe.

James Zhong, who stole over 50,000 Bitcoin from Silk Road, has been sentenced to a year and a day in prison. The stolen Bitcoin was worth over $3.4 billion at the time it was seized. Zhong stored the stolen cryptocurrency in an underground safe and a Cheetos popcorn tin. He was caught when US authorities obtained a search warrant and recovered the Bitcoin, which is still worth over $1.5 billion today.

via Yahoo News|

#bitcoin #crime #dark-web

cryptocurrency2 years ago•1 min saved

GDAC, a South Korean Crypto Exchange, Loses $13M in Hack

South Korean crypto exchange GDAC has been hacked, resulting in the theft of approximately $13.9 million worth of crypto. The exchange has halted all deposits and withdrawals and is performing emergency server maintenance. The attacker gained control of some of the exchange's hot wallets and stole around 61 Bitcoin, 350.5 Ether, 10 million of the WEMIX gaming currency, and $220,000 worth of Tether. GDAC has alerted the police, reported the hack to the Korea Internet & Security Agency, and notified the Financial Intelligence Unit of the loss caused by the attack.

via Cointelegraph|

#crypto-exchange #cryptocurrency #gdac