Prosecutors

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FTX CEO Sam Bankman-Fried Sentenced to 25 Years in Prison for Fraud and Money-Laundering

Earlier this month, U.S. prosecutors from the Department of Justice called for a “necessary” 40 to 50-year sentence for him. Prior to its collapse, FTX was one of the top crypto exchanges by volume, behind Coinbase and Binance. Bankman-Fried testified that he didn’t defraud FTX customers or use their funds, but that Alameda “borrowed” that capital from the exchange. Prosecutors strongly argued Bankman-Fried made a number of false promises internally and externally and was responsible for the loss of billions of dollars for thousands of FTX investors. And as a result, Bankman-Fried will be spending quite some time behind bars.

Kira Kim
March 28, 2024
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Security

“Encountering the Cyber-Criminals of the Future: A Look into 2023”

This year was no different to last: we saw another round of high-profile busts, arrests, sanctions, and prison time for some of the most prolific cybercriminals in recent years. Twitter took drastic measures to rid the hackers from its network by temporarily blocking all of the site’s 200-million-plus users from posting. A New York judge sentenced the 24-year-old hacker to five years in prison, two of which O’Connor already served in pre-trial custody. Federal prosecutors this year accused a former Amazon employee of hacking into a cryptocurrency exchange and stealing millions worth of customers’ crypto. Why did a Russian man accused by U.S. prosecutors of ransomware attacks burn his passport?