Aussie Cop in Bitcoin Theft Scandal
A startling accusation has emerged from Australia, where a federal police officer stands accused of involvement in the disappearance of 81 Bitcoin during a drug raid. The National Anti-Corruption Commission (NACC) alleges that the officer, identified as William Wheatley, spirited away the cryptocurrency from a hardware wallet found at the scene. Despite Wheatley’s denial, an investigation has unearthed compelling evidence linking him to the missing funds. The incident underscores the growing importance of crypto-tracing technology in combating illicit activities involving digital assets.
Yuga Labs’ Acquisition of PROOF Raises Eyebrows
In a move that has raised eyebrows within the NFT community, Yuga Labs, a prominent player in the non-fungible token (NFT) space, has acquired PROOF, a notable NFT conglomerate. While the acquisition itself proceeded smoothly, unusual trading activity preceding the announcement has sparked controversy.
Observers noted a significant spike in sales volume for PROOF’s Moonbirds collection just days before the acquisition was made public, leading to speculation of insider trading. Despite these concerns, the deal will see PROOF’s assets integrated into Yuga’s expansive NFT portfolio, signaling further consolidation in the burgeoning NFT market.
Allegations of a “Secret Line of Credit” at Deltec Bank
In a bombshell revelation, allegations have surfaced regarding Bahamian bank Deltec’s purported provision of a “secret line of credit” to Alameda Research, a sister firm of cryptocurrency exchange FTX. According to documents and declarations presented in court, Deltec allegedly extended substantial credit to Alameda for the purchase of Tether (USDT), enabling the trading house to profit from fluctuations in the stablecoin’s value. The lawsuit further claims that Deltec facilitated the movement of customer funds between FTX and Alameda accounts, raising serious questions about the integrity of financial practices within the crypto ecosystem.
Related: FTX and Alameda Research Transfer $10.8M to Binance, Coinbase, and Wintermute
TWEETS OF THE WEEKEND
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