Adam Iza, founder of the Zort crypto trading platform, and LASD deputy Eric Chase Saavedra admit to exploiting law enforcement.
This was the first case against JPEX, which operated in Hong Kong without a license.
A phishing scam netted a fraudster luxury cars and foreign vacations, and then a prison sentence.
Tether said it aided in recovering the stolen crypto by freezing the scammers’ wallets, which the FBI then seized.
A deepfake of Apple CEO Tim Cook asked viewers to deposit crypto into a wallet address in a bid to pull off the common “double-your-money” scam.
The authorities continue to urge the public to remain cautious and verify the legitimacy of financial transactions to avoid falling victim to such elaborate scams.
Ben&Ben, a nine-piece pop band with over three million YouTube followers, started live-streaming a fraudulent XRP advertisement.
Two people took in $1 billion in crypto deposits and traded $26 million of it, the suit alleges.
The plaintiffs seek to recover funds transferred out of their wallets as criminal proceedings against the exchange continue.
The scammers convinced victims to transfer millions of dollars into U.S. bank accounts, which were then used to launder the illicit funds.