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New York Attorney General Letitia James is seeking a $1.37 billion judgment against the alleged operators of NovaTech and AWS Mining, two crypto schemes prosecutors say collected more than $1 billion while promising returns not supported by actual trading.
New York Attorney General Letitia James is seeking about $1.37 billion from NovaTech founders Cynthia and Eddy Petion over an alleged crypto investment scheme that targeted Haitian communities. Four promoters agreed to pay nearly $6 million, while collecting from the founders may be difficult after they left the U.S.
A wallet linked to the Cysic bridge exploit sent about $744,000 in ETH and BNB to Tornado Cash after the foundation offered a 10% bounty for returning most of the identified proceeds. Cysic had earlier frozen about 2.8 million newly minted tokens.
Wallets linked to April’s $295 million Drift hack transferred $109 million in Ether to Tornado Cash over two days. The exploiter-linked wallets still held about $138 million in ETH after the latest $46 million transaction, according to blockchain data cited by Cointelegraph.
A wallet linked to Drift’s April exploit moved 25,710 ETH, worth about $63.1 million at the time, through Tornado Cash in 258 deposits. The transfer left recovery claims unresolved as Drift continues using its Recovery Pool to address verified user losses.
A wallet linked to Drift Protocol’s $295 million April hack transferred about $61 million in Ether to Tornado Cash after two months of inactivity. Addresses associated with the exploiter still held roughly $194 million in ETH, according to blockchain analytics data.
Federal prosecutors say an appeals ruling upholding Bitcoin Fog founder Roman Sterlingov’s conviction supports trying Roman Storm in Manhattan. The argument centers on a Tornado Cash user’s transactions from New York, while Storm points to FinCEN’s withdrawal of a proposed mixer-reporting rule.
Federal prosecutors cited a recent Bitcoin Fog appeals ruling in opposing Roman Storm’s acquittal bid, arguing that Tornado Cash activity in Manhattan established New York venue for key charges. Storm’s motion remains undecided, while a possible retrial is scheduled for April 2027.
The DOJ is defending New York as the venue for key charges against Tornado Cash co-founder Roman Storm, citing a Bitcoin Fog appeal. The case continues despite Treasury’s withdrawal of a proposed crypto-mixer reporting rule and its recognition of lawful financial privacy.
California Attorney General Rob Bonta’s office has subpoenaed OpenAI for information about cybersecurity incidents involving its AI models, including the Hugging Face intrusion. The action adds to growing scrutiny from other state attorneys general and federal regulators over model safety and cyber risks.
SEC staff said token buyback announcements on functional crypto networks do not necessarily promise the managerial efforts central to the Howey test. Projects with unfinished networks could still face securities-law concerns if buybacks are marketed as a source of yield or returns.
New York officials have sued Polymarket, alleging the prediction-market platform operates as an illegal gambling business without a state license. The complaint was filed by Attorney General Letitia James and Governor Kathy Hochul.
New York Attorney General Letitia James and Governor Kathy Hochul are suing to block Polymarket, alleging the prediction-market platform operates without a license and exposes residents to gambling harms.
Bloomberg reportedly says the Manhattan US Attorney’s Office is examining whether Binance knowingly allowed trading that breached US sanctions on Iran. The report follows earlier disclosures of a Justice Department probe into the exchange.
The CLARITY Act faces resistance from 18 state attorneys general before a key Senate vote. They say the revised bill would weaken state oversight, despite an ethics concession addressing another hurdle.
Judge Katherine Polk Failla has postponed Roman Storm’s Tornado Cash retrial until April 2027. His motion for acquittal remains undecided, while TORN is the related crypto asset.
