AI-powered summaries of the day's top crypto events
The SEC has filed a lawsuit against Nathan Fuller, the founder of Privvy, alleging he misappropriated $12.3 million from investors through a fraudulent crypto scheme involving fake AI trading bots. Fuller reportedly used only 3% of the funds for actual crypto trading, while diverting significant amounts for personal expenses, including a $1 million house and other luxuries.
The US Treasury has announced the seizure of approximately $1 billion in Iranian crypto assets as part of 'Operation Economic Fury,' aimed at restricting Iran's access to global financial networks. This move doubles the amount of Iranian crypto assets seized since April, intensifying the US's economic pressure campaign against Iran.
Researchers report that the Cosmos-based Gravity Bridge has been exploited, resulting in a $5.4 million loss. The attacker managed to siphon off USDC, ether, tether, and PAYG tokens, laundering some of the stolen assets through platforms like ChangeNow and Binance.
A court-ordered freeze has immobilized $12.6 million in USDC within Zama's confidential contract, linked to an ongoing legal case involving Overnight Finance. Zama's CEO, Rand Hindi, stated that the freeze was unexpected and the team is currently investigating the situation.