NFT News Official TheBitTimes.com

A U.S. federal court recently used on-chain tech to lock criminals out of their crypto on the Jurat Network. Its founder, Mike Kanovitz, admits it could see hate from crypto purists. The founder of layer-1 blockchain Jurat has defended his protocol against potential haters, arguing that on-chain legal enforcement is a necessary trade-off for crypto mass adoption.  On Aug. 8, a U.S. District Court used Jurat’s on-chain enforcement tool to lock several sanctioned individuals out of their crypto accounts. These individuals were sanctioned for money laundering and using ransomware to extort cryptocurrency payments to benefit North Korea’s weapons program. A court just entered final judgment in a federal lawsuit and the court used @JuratNetwork to enforce its order on -chain ! The judge enjoined Russian and North Korean hackers from accessing their accounts, making $JTC the first crypto currency to comply with @USTreasury… — Mike Kanovitz (@MikeKanovitz) August 8, 2023 Speaking to C...

The CFTC has accused Tennessee-based real estate business owners of running a fraud ulent crypto scheme that allegedly swindled over 100 individuals out of more than $6 million. The Commodity Futures Trading Commission (CFTC) initiated a lawsuit against Michael and Amanda Griffis on July 25, a couple residing in Tennessee, who allegedly exploited their real estate business clientele to conduct a crypto scheme. The Griffises, who own EXIT Realty Screamin’ Eagle, are said to have deceived over 100 individuals, raising more than $6 million in the process. The elaborate fraud involved a digital asset commodity pool, ironically titled “Blessings of God Thru Crypto.” The scheme appealed to investors with promises of outsized returns and a surefire opportunity to speculate on the future value of cryptocurrencies. Misrepresenting the security of investors’ funds, the Griffises claimed these resources would remain in their control and would be used to trade “...

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against William Koo Ichioka, for de fraud ing around 100 users , including crypto asset holders , of more than $21 million .  The fraudulent scheme According to the CFTC’s report, Ichioka, a resident of New York City, operated a fraudulent scheme from 2018 to November 2021 called the Ichioka Ventures.  During that time, he solicited tens of million s of dollars from individuals, with a promise to trade digital asset commodities such as bitcoin (BTC) and ethereum (ETH), as well as engage in Forex utilizing the Ichioka Ventures commodity interest pool. You might also like: CFTC approves Cboe margin crypto futures The investment was supposed to be short-term, having a 10% return on investment after every 30 days. Participants in Ichioka’s venture pool were also assured that their funds could be withdrawn easily, or reinvested.  However, Ichioka didn’t keep to his promi...