Techub News Search

Search "Uphold" has a total of2related results

Some search results are temporarily unavailable. Please try again later.

New York Attorney General Reaches Settlement with Uphold, Penalty Exceeds $5 MillionTechub News reports, citing Bitcoinist, that New York Attorney General Letitia James has reached a settlement with cryptocurrency platform Uphold, requiring it to pay over $5 million in compensation to customers. The settlement addresses Uphold's misleading promotion of the CredEarn product between 2019 and 2020, falsely claiming it was backed by insurance when no such insurance existed. The New York Attorney General's Office stated that CredEarn actually generated returns by providing microloans to low-income gamers in China. Cred went bankrupt in November 2020, resulting in losses for thousands of investors. Under the settlement agreement, Uphold must pay $5 million in direct compensation to customers and return $545,000 recovered from the Cred bankruptcy proceedings.Techub News05/04, 09:04 AM

快讯Letitia James05/04, 09:04 AM

New York Attorney General Reaches Settlement with Uphold, Penalty Exceeds $5 Million

Techub News reports, citing Bitcoinist, that New York Attorney General Letitia James has reached a settlement with cryptocurrency platform Uphold, requiring it to pay over $5 million in compensation to customers. The settlement addresses Uphold's misleading promotion of the CredEarn product between 2019 and 2020, falsely claiming it was backed by insurance when no such insurance existed. The New York Attorney General's Office stated that CredEarn actually generated returns by providing microloans to low-income gamers in China. Cred went bankrupt in November 2020, resulting in losses for thousands of investors. Under the settlement agreement, Uphold must pay $5 million in direct compensation to customers and return $545,000 recovered from the Cred bankruptcy proceedings.

U.S. Appeals Court hears Bitcoin Fog operator's appeal, upholds 12-and-a-half-year sentenceTechub News, according to CoinPost, the U.S. Court of Appeals for the District of Columbia is hearing an appeal from the operator of the cryptocurrency mixer Bitcoin Fog. The operator was sentenced to 12 and a half years in prison in 2024 for crimes including conspiracy to commit money laundering. The current focus of the dispute is the jurisdiction of U.S. law over overseas cryptocurrency services. Bitcoin Fog operated between 2011 and 2021, processing over 1.2 million bitcoins (approximately $400 million). The prosecution alleges it targeted U.S. users, while the defense argues it operated overseas and used legal technology. The panel of judges is currently deliberating on the verdict.Techub News05/13, 12:57 PM

快讯美国05/13, 12:57 PM

U.S. Appeals Court hears Bitcoin Fog operator's appeal, upholds 12-and-a-half-year sentence

Techub News, according to CoinPost, the U.S. Court of Appeals for the District of Columbia is hearing an appeal from the operator of the cryptocurrency mixer Bitcoin Fog. The operator was sentenced to 12 and a half years in prison in 2024 for crimes including conspiracy to commit money laundering. The current focus of the dispute is the jurisdiction of U.S. law over overseas cryptocurrency services. Bitcoin Fog operated between 2011 and 2021, processing over 1.2 million bitcoins (approximately $400 million). The prosecution alleges it targeted U.S. users, while the defense argues it operated overseas and used legal technology. The panel of judges is currently deliberating on the verdict.

Too many search requests. Please try again later.