DeFi News Daily Official TheBitTimes.com

Publicly shared documents released ahead of the upcoming extradition of notorious crypto Ponzi schemer Do Kwon reveal the stupid turn of events that led to his arrest and that of his compatriot, Joon Chang. Attempting to leave Podgorica, the capital of Montenegro , on a private jet in March of 2023, Kwon and Chang were stopped at a border crossing when they presented fake Costa Rican passports. The pair were attempting to fly to Dubai, the known home of Changpeng Zhao (colloquially known as CZ), founder and former CEO of Binance. After having their luggage confiscated and searched, further problematic documents were discovered, including invalidated South Korean and Belgian passports which included totally different personal information for the two. Indeed, according to these passports, Kwon was called ‘Frederic Nguyen’ and Chang was called ‘Thomas Wang .’ Some of the countries in which Do Kwon has been seen or are seeking his extradition. Read more: T...

Open Exchange’s (OPNX) native currency crashed on the heels of co-founder Su Zhu’s arrest. OX token value craters The arrest of Su Zhu has triggered a massive wave of sell pressure, resulting in a steep decline in the value of OX token s. According to Alphanomics, approximately $1 million worth of OX tokens were hastily dumped by token holders in the days following the news. As a result, OX token s dropped to as low as $0.010. While a minor recovery has occurred since the initial crash, the token ’s value remains down by over 83% from its all-time high. OX is the native cryptocurrency of OPNX, a specialized exchange designed for trading claims of insolvent crypto firms like FTX. Holders of OX token s benefit from reduced trading fees on the platform and have a say in its governance activities. You might also like: BlockFi battles FTX, 3AC in court over repayment claims OPNX was launched in April amid controversy due to its association with Zhu as wel...

Four Chinese nationals and a Lao citizen were arrest ed over their role in a crypto currency fraud that caused victims 2.7 billion Baht (approximately 76 million) worth of losses. The Cyber Crime Investigation Bureau (CCIB) of Thailand shared that at least 3,280 people have fallen victim to this crypto currency scam, with reports occurring since November 2022, The Bangkok Post reported. Not just one case of fraud Victims were said to being approached by strangers or foreigners who invited them to invest using foreign mobile apps and other online platforms, promising a high return on investment. Pol Col Kissana, the spokesperson for the CCIB, shared that many victims invested their life savings into this scam, even taking out a second mortgage on their land or home. The investigation found that several of the people running the fraudulent website (bchgloballtd.com) were also linked to other fake platforms. With support from Homeland Security Investigation and other law enforcement ...