US man indicted for operating fake cryptocurrency recovery service through CDN
The New York Special Operations Group of the US Homeland Security Investigation Bureau (HSI) stated on August 5th that Las Vegas resident Michael Lauchlan is suspected of operating a false cryptocurrency asset recovery business through Coin Dispute Network (CDN).Lauchlan claimed to provide blockchain analysis and cryptocurrency recovery services, but actually retained customer fees and obtained additional Ethereum through false promises.Investigation shows that more than 175 CDN customers failed to recover any cryptocurrency. User funds of approximately $14,000 were traced to the CoinEx exchange.Lauchlan is currently facing charges of grand larceny and two counts of fraud in Manhattan Criminal Court. This is the first time the Manhattan District Attorney's Office has shut down a cryptocurrency recovery website.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
South Korea’s leading presidential candidate wants more time on US tariff deal
Share link:In this post: Lee Jae-myung wants the July 8 US-South Korea tariff deal deadline extended. He says diplomacy must benefit both sides and not feel forced. If elected, he’ll launch an economic task force and push a stimulus budget.
Meta makes bold claim in final argument of FTC trial
Share link:In this post: Meta ended its defense in the FTC antitrust trial, arguing it helped Instagram and WhatsApp grow instead of holding them back. The company pointed to rising competition from TikTok and YouTube, saying the real battle is for users’ attention, not just user numbers. Judge Boasberg will now decide if Meta’s control of social networking apps harms competition, which could lead to the dissolution of its past acquisitions.
Solana Plunges 5% as Midnight Sell-Off Signals Institutional Exit
R3 Taps Solana to Bridge $10B+ RWAs to Public Chain
R3 partners with Solana to bring over $10B of tokenized RWAs from Corda to public blockchain infrastructure.Why Solana?
Trending news
MoreCrypto prices
More
