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Braden John Karony , Kyle Nagy, and Thomas Smith have been charged with conspiracy to commit securities fraud, conspiracy to commit wire fraud, and money laundering, all linked to their roles with the SafeMoon Crypto currency project.  The criminal complaint claims that the defendants and their business, SafeMoon US LLC, lied to investors about what ‘locked’ liquidity meant and then used the money from investors to buy things like a Porsche 911 and real estate. SafeMoon marketed itself by emphasizing that it was unable to engage in a ‘rug pull’ due to the way it ‘locked’ its liquidity. However, these promises were never accurate, and Smith maintained control over the project’s liquidity pools. FBI ties and Ponzi games — here’s what SafeMoon doesn’t want you to know Read more: Five ridiculous claims from the latest SafeMoon court battle Furthermore, despite claiming they didn’t hold any SafeMoon tokens for personal u...

Platypus Finance, a decentralized finance protocol on the Avalanche blockchain, has recovered 90% of its assets following a recent security breach involving flash loan attacks. Platypus Finance, a DeFi protocol operating on the Avalanche blockchain, announced the recovery of 90% of the assets lost to a security breach last week. On Oct. 12, the platform fell victim to three flash loan attacks, which resulted in the theft of $2.23 million. A flash loan attack is an exploitation in which hackers manipulate vulnerabilities to borrow cryptocurrency without the requisite collateral, effectively draining the protocol of its assets and causing bad debt for its users or treasury. 2/ Along with the recovery on Oct 12, over 90% of the funds have been recovered. The net loss has been minimized to approximately 18k AVAX. We will release further information on withdrawal arrangement as we progress. — Platypus (+🦦+🦫) (@Platypusdefi) October 17, 2023 By Oct. 17, the protocol’s develop...

Web3 platform Galxe experiences a security breach, as several users report losing access to their funds and wallets. Leading web3 community-building platform Galxe has suffered a security breach. Multiple users have report ed being unable to access their funds and wallets on the platform . The Galxe website is also down.  The platform has posted multiple cautions for users to disconnect their wallets from the platform and not to confirm any transaction. According to the latest information, the breach was the result of a DNS account conducted through the platform’s domain nameservers on Dynadot, a domain marketplace. Update: We’ve detected a security breach affecting the DNS record for “https://t.co/yxdPH0SijN” through our Dynadot account. Please refrain from visiting the site from all channels while we are resolving the issue. Your safety remains our utmost priority. — Galxe (@Galxe) October 6, 2023 Users have been urgently advised to transfer funds from their Galxe acco...

Despite their best efforts, bankruptcy trustees have only managed to recover a fraction of the $160 million ($215 million Canadian) owed to creditors. According to a May 8 post by Miller Thomson, the law firm representing users of the defunct crypto currency exchange QuadrigaCX, interim distribution of funds tied to bankruptcy proceedings will be scheduled "in the coming weeks." Bankruptcy trustee Ernest & Young announced the interim distribution in consultation with estate inspectors. In the near future, the trustee will post a Notice to Affected Users regarding details about the manner and procedure of the distribution. According to Miller Thomson, a small number of affected users are expected to receive a Notice of Disallowance of Claim, which means that the creditor's claim has been revised or disallowed in the bankruptcy process.  "If you received a Notice of Disallowance, you have the right to appeal the decision," Miller Thomson explained, addin...