#crypto-fraud

#crypto-fraud

Police said the investigation into Zhimin Qian, 47, led to officers recovering devices holding 61,000 Bitcoin in the largest cryptocurrency seizure in the U.K. Qian, dubbed "cryptoqueen" by British media, was arrested in April 2024 after spending years evading the authorities and living an "extravagant" lifestyle in Europe, staying in luxury hotels across the continent and buying fine jewelry and watches, prosecutors said.

Interpol's latest clampdown on cybercrime resulted in 1,209 arrests across the African continent, from ransomware crooks to business email compromise (BEC) scammers, the agency says. Operation Serengeti 2.0 took place between June and August this year, and the global policing coordinator confirmed today that it seized $97.4 million gained from cybercriminal enterprises across the continent. About $37 million was recovered in Angola, where authorities shut down 25 cryptocurrency mining centers allegedly run by 60 Chinese nationals using illegal power stations to validate blockchain transactions.

The plaintiffs failed to adequately plead causation and plausibly argue Defendants' knowledge of FTX fraud, as stated by Judge K. Michael Moore.