ChainCatcher news, according to Dahe Opinion reports, the People's Court of the Economic Development Zone in Heze City, Shandong Province, has heard a telecom network fraud case involving Indian nationals as victims, related to virtual currency "Killing Foreigners" scams. It is reported that the criminals used high returns as bait to attract Indians to invest money, and then purchased 'USDT' virtual currency through a third-party payment platform with the invested funds, converting the virtual currency into RMB or USD and extracting a 15% profit.The court found that from June 1, 2023, to January 13, 2024, within just over 7 months, 66,800 Indians were defrauded, with a total fraud amount reaching 517 million Indian Rupees (approximately over 40 million RMB). Nine fraudsters were sentenced to fixed-term imprisonment ranging from five years to fourteen years and nine months, along with fines.

ChainCatcher news, according to crypto.news, Florida federal court judge Federico Moreno this week finally approved NBA star Shaquille O'Neal's settlement agreement with the Astrals NFT buyers' class action for $11 million. The judge stated in the issued order that the plaintiffs have reviewed and approved the fees requested by the lead class counsel as fair and reasonable.

ChainCatcher news, according to Cryptopolitan, the Peshawar High Court in Pakistan has ordered the federal government to address the issue of illegal cryptocurrency trading nationwide within two months. The court requires the government to first formulate relevant strategies and submit a comprehensive report.The case was brought by lawyer Huzaifa Ahmad. According to the lawsuit, despite the fact that the State Bank of Pakistan issued a notice back in 2018 declaring virtual currencies, including Bitcoin and Litecoin, as illegal payment methods, individuals and businesses are still conducting transactions through internet channels. Particularly in Khyber Pakhtunkhwa, some training institutions not only offer Bitcoin and forex trading services but also market them on social media platforms such as TikTok, Facebook, and YouTube.The Deputy Attorney General representing the federal government stated that the government is formulating relevant legislation, which is expected to take about a month to complete. The court ultimately granted the government two months to submit the policy proposal.

ChainCatcher news, according to Kalshi founder Tarek Mansour, the U.S. District Court for Nevada has approved the preliminary injunction application of the prediction market platform Kalshi, preventing the state government from intervening in Kalshi's provision of prediction market services. Kalshi expressed gratitude for the court's careful consideration and recognition of its status as a CFTC (Commodity Futures Trading Commission) regulated exchange.

ChainCatcher news, according to Bloomberg, Ledger SAS must respond to consumer allegations in the United States, which claim that it misleadingly advertised the security of its cryptocurrency "wallet" devices, as ruled by a U.S. federal court.U.S. District Judge LaShonda A. Hunt of the Northern District of Illinois stated that while the sales contracts for the Nano S and Nano X hardware devices mention the applicability of French law, this mention is not exclusive, and the consumer allegations do not rely on the applicability or interpretation of the contract, thus the contract cannot limit the venue for consumer lawsuits.It is reported that "SAS" is one of the commonly used company types in France, which is similar to the American "Limited Liability Company" (LLC). This company structure provides a flexible management structure and shareholder liability protection, and is typically used for small to medium-sized enterprises or startups.

ChainCatcher news, the Nigerian court has postponed the hearing of the tax evasion case against Binance until April 30, to allow the tax authorities to respond to the legal motions filed by Binance. The Federal Inland Revenue Service of Nigeria accuses Binance of failing to pay corporate income tax and penalties for 2022 and 2023, totaling over $79 billion in claims. Binance questions the legality of the court's delivery of legal documents via email, stating that its headquarters is in the Cayman Islands and it has no physical presence in Nigeria.

ChainCatcher news, according to Cointelegraph, Brazil's Superior Court of Justice unanimously ruled that courts can seize debtors' cryptocurrency assets to repay creditors. According to the ruling, judges can now issue notices to cryptocurrency exchanges to seize the assets of account holders for debt repayment.The memorandum published on the court's website noted that although cryptocurrencies are not legal tender, they can serve as a means of payment and a store of value. Judge Ricardo Villas Bôas Cueva stated that while Brazil currently lacks formal regulation of cryptocurrencies, certain bills have recognized them as "digital representations of value."

ChainCatcher news, according to GlobeNewswire, the NYSE-listed company Genius Group announced that the U.S. District Court for the Southern District of New York (SDNY) has prohibited the company from selling stock to raise funds and has also prohibited the use of investor funds to purchase Bitcoin, thus forcing it to sell the Bitcoin in its treasury.It is reported that on October 30, 2024, Genius initiated arbitration to terminate the asset purchase agreement with Fatbrain AI (LZGI). LZGI shareholders filed a lawsuit against LZGI and its executives Michael Moe and Peter Ritz. However, on February 14 of this year, Michael Moe and Peter Ritz applied to the court for a Temporary Restraining Order (TRO) and a Preliminary Injunction (PI) to prevent Genius from selling any shares or raising any funds to purchase Bitcoin. The TRO was granted that day, and the PI was granted on March 13.

ChainCatcher news, according to Bloomberg, Elon Musk's X platform is urging the U.S. Supreme Court to protect the company from subpoenas issued by federal law enforcement agencies under "no reasonable suspicion," in order to avoid being forced to disclose sensitive user financial data. The X platform is requesting the judge to reconsider a lower court's ruling that allowed the IRS to enforce a subpoena for Coinbase customer transaction records in a tax investigation involving over 14,000 users of cryptocurrency exchanges.In a filing submitted last week, X platform's lawyers argued that the platform stores subscription and advertising data and plans to eventually provide financial services to users, but according to the Constitution, when these companies have entered into confidentiality agreements with users, the Constitution does not permit "warrantless searches of customer records held by third-party service providers."

According to ChainCatcher, as reported by Cryptopolitan, the Busan District Court in South Korea sentenced three cryptocurrency investment fraudsters to prison for violating the Specific Economic Crimes Aggravated Punishment Act. The main perpetrator was sentenced to four and a half years in prison, while the two accomplices received sentences of three and a half years and two and a half years, respectively. The three conducted illegal cryptocurrency investment activities in a building in Busan in June 2019, claiming to possess an algorithm capable of trading from approximately 1,000 high-quality cryptocurrencies worldwide, promising investors a 30% monthly return on investment. In reality, they had no trading algorithm, and the funds raised, approximately 610 million won (about $416,000), were used for personal consumption.

ChainCatcher news, according to TheMinerMag, early Bitcoin developer Adam Back and two affiliated companies are requesting a U.S. court to enforce a $28 million arbitration award against Chinese mining chip manufacturer Innosilicon.According to the complaint, Innosilicon was aware of hidden cracks in the chips of these machines as early as March 2018 (a few months before delivery), yet still completed the delivery in September 2018. The Hong Kong International Arbitration Centre ruled that Innosilicon breached all three contracts and ordered Innosilicon to compensate for the losses: 425.98 bitcoins to Blockstream, 1,393.79 bitcoins to Thigmotropism, and 51.84 bitcoins to Back.

According to the ChainCatcher news and the official WeChat account of the Intermediate People's Court of Ezhou City, the Ezhou Court has recently successfully concluded two cases of virtual currency online fraud. A fraud gang consisting of 34 defendants meticulously planned and executed the scams using a new type of virtual currency trading platform, resulting in nearly 30,000 victims in just one year, with a total amount involved of 460 million yuan.It is reported that the fraud gang established the "OURBIT Digital Currency Trading Platform," claiming to be "registered in Singapore" and other gimmicks. They fabricated trading K-line charts based on the trading prices of the Bitcoin market and created the illusion of trading nine types of virtual currencies.After hearing the case, the court determined that the amount involved was particularly huge, and the defendants' actions constituted fraud. The court sentenced the 34 defendants to fixed-term imprisonment ranging from three to twelve years and imposed fines. Given the large number of people involved and the complexity of the case, the court is handling the cases separately, and the judgments have all taken effect.

ChainCatcher news, the Seoul Administrative Court in South Korea has temporarily suspended the Financial Intelligence Unit (FIU)'s "three-month partial business suspension" penalty against Dunamu, the parent company of the cryptocurrency exchange Upbit. The court has approved Dunamu's administrative lawsuit and emergency suspension application, and the penalty will only be reinstated 30 days after the main case judgment takes effect. This move means that new users of Upbit can continue to recharge and withdraw cryptocurrency assets.Previously, the FIU accused Upbit of trading with unregistered overseas exchanges without real-name verification, violating the "Special Financial Transactions Information Act."

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal criticized the U.S. Treasury's attempt to circumvent legal rulings regarding Tornado Cash by removing it from its global blacklist. He warned that without a final court ruling, there is no guarantee that Tornado Cash will not face sanctions again in the future.It is reported that the U.S. Treasury blacklisted Tornado Cash in 2022 due to its alleged involvement in laundering $445 million stolen by the Lazarus cybercrime group, but the appeals court ruled that blacklisting certain smart contracts is unconstitutional.

ChainCatcher news, according to Cointelegraph, the U.S. Treasury Department stated that since removing Tornado Cash from the sanctions list on March 21, the Tornado Cash lawsuit does not require a final ruling from the court.

ChainCatcher news, according to Decrypt, the UK Court of Appeal has rejected a request from a Welsh man to excavate a landfill, claiming that his hard drive was discarded there over a decade ago, containing $676 million worth of Bitcoin.It is reported that the software engineer mined the lost Bitcoin in 2009, and in 2013, his former partner threw away the hard drive, which contained the keys to 8,000 Bitcoins. He subsequently launched a lengthy legal battle to gain the right to search the landfill for the Bitcoin hard drive.

ChainCatcher news, the British Columbia Court of Appeal upheld the provincial government's decision to limit electricity use for Bitcoin mining operations, rejecting the attempts by Bitcoin mining hosting provider Conifex Timber to secure unlimited electricity usage. The court supported BC Hydro, emphasizing its priority to protect public interest, safeguard the province's power supply, and prevent consumer electricity rate increases. Due to concerns about the impact of crypto mining on energy consumption, several provinces in Canada have implemented restrictions.

ChainCatcher news, according to Decrypt, the U.S. bankruptcy court has approved the liquidators of the hedge fund Three Arrows Capital (3AC) to expand their claim against FTX to $1.53 billion, rejecting the objections of FTX's debtors, who argued that this move was untimely and unfair.

ChainCatcher news, according to Jinshi reports, court documents show: The U.S. court dismissed the preliminary injunction requested by Musk in the lawsuit against OpenAI.