Bitcoin Guru

Reports are emerging that an agent for an Indian law enforcement agency has been arrested for stealing bitcoins tied to a drug bust. According to the Times of India, an officer for the Indian Narcotics Control Bureau (NCB) is alleged to helped steal more than 400 bitcoins originally confiscated during a 2015 seizure. Specifically, investigator Satyendra Kumar Singh is said to have been accused of unfreezing those funds at the behest of one of those arrested. The media source claimed that it was the first such case in India – though the cryptocurrency world is no stranger to rogue agents siphoning bitcoins obtained during criminal investigations. The NCB reportedly alleged that Singh consulted with Deepak Manguikya, one of the accused drug dealers, after he was released on bail in 2016. In July 2016, Singh then helped Manguikya forge documents which would allow for the unfreezing of the accounts where the bitcoins were stored. After being unfrozen, the accounts were emptied and liquidat...

A February 2018 trial date has been set for a civil trial pitting the SEC against infamous cryptocurrency entrepreneur Homero "Josh" Garza, founder of controversial companies including GAW Miners and ZenMiner. The update is the latest in a case that stems back to 2015, when the SEC alleges that Garza and GAW operated a Ponzi scheme in which investors were sold fraudulent "cloud mining contracts" with the promise of receiving profit distributions. Thus far, Garza has refused to answer questions regarding the allegations, preferring to exercise his Fifth Amendment right to non-incrimination. The court has given Garza and his counsel Marjorie Peerce until 7th May to file any motions regarding the direction of the case. Likewise, the SEC has until 7th August to gather evidence supporting the claims filed against Garza and his companies. The SEC is now seeking a cease to all cryptocurrency related activities by Garza and his companies, as well as to disgorge profits from...