Enforcement Actions

The Central Bureau of Investigation in India has arrested a suspect named Sunil Nellathu Ramakrishnan, accusing him of serving as a coordinator in a trafficking network related to Southeast Asian online scams. This network lured Indian citizens to Myanmar to participate in scam activities, and the CBI has collected relevant digital evidence, with the investigation still ongoing.

The team behind the P2P.me decentralized trading platform disclosed that it opened positions on the Polymarket prediction market related to its recent capital raise. The team opened the positions 10 days before the raise went live, wagering whether the project would hit its $6 million fundraising t

Vietnam is investigating a major crypto fraud linked to Vemanti Group, which reportedly attracted billions from investors. The case reflects increasing scrutiny over online financial scams in Vietnam and the region as the crypto market expands.

In brief California public officials are banned via executive order from using inside information to make money on prediction markets. The ban extends to state officials and appointees using information to help others from profiting, as well. The order follows continued scrutiny from

Vietnam's Ministry of Public Security has detained several individuals related to the cryptocurrency platform ONUS, accusing them of embezzling investor funds through false advertising, involving billions of dollars. Investigators claim the suspects manipulated token supply and demand, with 140 people already summoned for questioning. The ONUS platform claims to have 7 million users and a market value of approximately $25 million, but has not yet responded to these allegations.

Intercontinental Exchange (ICE), the parent of the New York Stock Exchange (NYSE), said Friday it completed a new $600 million direct cash investment in Polymarket, deepening its bet on prediction markets as a new area of growth for exchange operators. The company also said it expects to

Chen Zhi, the founder of the Prince Group in Cambodia, has been detained on charges of fraud and other crimes. The UK has imposed sanctions on the group, with the sanctions list including his collaborator Hu Xiaowei. Chen Zhi had amassed a fortune through online fraud but was ultimately arrested and had his nationality revoked.

The UK High Court recently heard a case involving the theft of Bitcoin, where the plaintiff Ping Fai Yuen accused his estranged wife Fun Yung Li of secretly filming him to steal Bitcoin from his hardware wallet, worth approximately $176 million. Audio recordings and search warrant evidence support the plaintiff's claims, and the court upheld the asset freeze order, but dismissed part of the claims. The judge believes the plaintiff has a very high chance of winning and recommends that the case be heard as soon as possible.

Bit Digital has filed a lawsuit in New York, accusing Blockfusion founder Martini-Lo Manto of being involved in a $5 million cryptocurrency fraud, attempting to cover up his investment funds through a merger. Bit Digital aims to stop the merger and recover its funds through the lawsuit.

The Federal Court of Australia fined Binance's local branch A$10 million for misclassifying over 500 investors, exposing them to high-risk crypto-asset derivatives, leading to losses over A$12 million. Binance admitted to significant compliance failures in client onboarding.

The UK sanctioned Xinbi to disrupt a $20 billion crypto-enabled scam and money laundering network globally. The authorities targeted the infrastructure for fraud ecosystems, especially in financial channels, marketplaces, and interconnected illicit services. The United Kingdom has recently sancti

The Federal Court of Australia ruled that a certain CEX must pay a fine of 10 million AUD for mistakenly classifying 524 retail investors as wholesale clients, resulting in a lack of protection for consumers and losses exceeding 12 million AUD. The exchange has rectified the situation and ceased its derivatives business.

Vietnamese police have cracked a massive cryptocurrency fraud case, arresting businessman Eric Vuong and six accomplices, with the amount involved reaching several billion dollars. The gang sold counterfeit coins to users through the fake platform ONUS, and police have summoned over 140 people for investigation.

Israeli Air Force reservists are accused of using confidential information to trade on Polymarket in order to profit from the war between Israel and Iran that began last year. The two men have been charged with serious security offenses, bribery, and obstruction of justice. They had previously successfully predicted specific military operations and earned $162,663 in profits. Details of the case have been partially disclosed, but the defendants’ names have not yet been made public.

An Israeli Air Force reservist major allegedly used confidential information to trade on Polymarket, involving last year’s war between Israel and Iran. He and an accomplice were charged with serious offenses and made $162,663 in profits. Case details became public after some court gag orders were lifted, but the defendants’ names were not disclosed.

The UK Foreign Office has imposed sanctions on the Chinese cryptocurrency platform Xinbi, accusing it of playing a core role in fraud activities in Southeast Asia. The sanctions will freeze its assets in the UK and prohibit its access to the UK financial system. Chainalysis reports that Xinbi processed over $19.9 billion in transactions between 2021 and 2025, with deep connections to fraud networks. The purpose of these sanctions is to isolate Xinbi from the legitimate crypto ecosystem and will not affect ordinary compliant crypto users.

The UK government is cracking down on a $20 billion Chinese-language crypto guarantee marketplace, with sweeping sanctions aimed at cutting the platform off from crypto access. The UK’s Foreign, Commonwealth & Development Office said in a statement Thursday that Xinbi provides crypto-based

A U.S. court has allowed the class action lawsuit against NVIDIA to proceed, with plaintiffs accusing NVIDIA of concealing over $1 billion in GPU mining sales as gaming revenue from 2017 to 2018, impacting investor decisions. This case reveals legal risks associated with revenue classification and may have far-reaching implications for technology companies' future disclosures.

Maxine Waters, Chair of the U.S. House Financial Services Committee, sent a letter to the Federal Reserve Bank of Kansas City’s president, asking for a detailed explanation of the approval process for Payward Financial—an “account with limited purpose”—opened for cryptocurrency exchanges, and focusing on the scope of the relevant services, risk management requirements, and regulatory review, while expressing concerns about the account’s policies and consumer protection issues.

On March 26, the Taipei District Court sentenced Ko Wen-je to 17 years in prison for offenses including corruption, bribery, public interest misappropriation, and breach of trust, along with a 6-year deprivation of public rights. The court stated that the bribes he received were not related to Bitcoin, and the indictment did not involve virtual currencies. This ruling has attracted public attention and revealed the media's confusion in reporting on issues related to crypto assets.