Jun 6, 2021

Kais Mohammad – a resident of Orange County – will spend the next 24 months in federal prison for operating an illegal BTC ATM service. The US officials said that the man processed up to $25 million with some of it on behalf of criminal suspects. Behind Bars In 2020 Kais Mohammad, also known as ”Superman29”, pleaded guilty to the charges against him of operating unauthorized money transmitting business, money laundering, and failing to maintain an effective anti-money laundering program. Judge Josephine Staton from the Central District of California sentenced the 39-year-old man to spend the next two years in prison, the US officials recently reported . According to the US Department of Justice, Mohammad was in charge of the illegal digital currency money services business – Herocoin – from December 2014 to November 2019. During this period, he offered Bitcoin-to-cash exchange services, charging fees of up to 25 percent – significantly above the usual market rate. The investigation added that Mohammad advertised Herocoin’s services online, asserting that he could exchange up to $25,000 worth of the primary cryptocurrency. Subsequently, under the nickname ”Superman29”, he would meet his clients – some of them criminals – in private to provide the service, but he never questioned the source of their funds. ADVERTISEMENT The US authorities acknowledged that they put into action undercover agents, who reached out to the outlaw for his services. They told him that their money comes from prostitution, human trafficking, and dark web activities, but Mohammad still did business with them and exchanged the cryptocurrency. In addition to the two years that he has to spend behind bars, ”Superman 29” also agreed to give over 17 BTC ATMs, 18.5 BTC, 222.5 ETH, and $22,820 in cash to the authorities. Other Punishments for Crypto Scams The aforementioned Kais Mohammad is not the only individual who will see a prison cell from the inside. One of the most notorious scandals this year was the Turkish trading venue Thodex. According to the authorities, the CEO of the crypto exchange has allegedly scammed its users and fled the country with a sizeable portion of their funds. However, the officials in Turkey sent to prison six members accused of being part of the criminal affairs. Interestingly, two of the suspects are the brother and the sister of Faruk Fatih Özer – founder and Chief Executive Officer of the platform. The aforementioned individuals are the first to be imprisoned after many others were released in the previous weeks due to lack of evidence. Nonetheless, the Turkish government assured that they are putting great efforts into catching the head of the criminal platform – Özer – as they search for him in four different countries: ”When he is caught with the red notice, we have extradition arrangements with a large part of these countries. God willing he will be caught and he will be returned.” SPECIAL OFFER (Sponsored) Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer). PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC. You Might Also Like: A Statue of His Honor The secret identity of Bitcoin’s creator – with the pseudonym Satoshi Nakamoto – remains one of the biggest mysteries in the crypto community. Even though no one knows his (or her) real name, sculptors from the Hungarian capital Budapest decided to erect a life-size bronze statue in their honor. According to the local paper Hungary Today, Réka Gergely and Tamás Gilly will create the statue with a hoodie on top of his head, referring to his unknown identity. Moreover, the figure will have a face, but it will be a reflective surface, so everyone staring at it will see themselves strengthening the idea that ”we are all Satoshi.” András Györfi – the crypto enthusiast who launched the project – highlighted Bitcoin’s merits and Satoshi Nakamoto’s major innovation: ”It is an efficient, fair, and transparent database that eliminates distrust between people and can make the world a better place in many areas, from food supply to aid delivery.” The funding for the project came from four Hungarian organizations – Blockchain Budapest, Mr. Coin, Crypto Academy, and Blockchain Hungary Association. ADVERTISEMENT Interestingly, the future bronze statue of Satoshi Nakamoto will be erected in Graphisoft Park in Budapest’s 3rd district – the neighborhood which already has a statue depicting the founder of Apple – Steve Jobs. Satoshi Won’t Use His BTC Experts in the crypto community believe that Satoshi Nakamoto had mined nearly 1.1 million BTC back when the network was first launched. However, the prominent Argentinean researcher Sergio Demian Lerner opined that this amount would never be used because of the selfless nature of Nakamoto. Furthermore, selling these 1.1 million BTC could cause catastrophic consequences for the price of the primary cryptocurrency. The Argentinean is the designer of the second layer Bitcoin protocol RSK. He is also known to be the inventor of the so-called Patoshi pattern. According to it, back in the early days of Bitcoin, a miner used a slightly different algorithm to mine 1.1 million bitcoins, which caused many people to believe that it was Satoshi Nakamoto. SPECIAL OFFER (Sponsored) Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer). PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC. You Might Also Like: Kais Mohammad – a resident of Orange County – will spend the next 24 months in federal prison for operating an illegal BTC ATM service. The US officials said that the man processed up to $25 million with some of it on behalf of criminal suspects. Behind Bars In 2020 Kais Mohammad, also known as ”Superman29”, pleaded guilty to the charges against him of operating unauthorized money transmitting business, money laundering, and failing to maintain an effective anti-money laundering program. Judge Josephine Staton from the Central District of California sentenced the 39-year-old man to spend the next two years in prison, the US officials recently reported . According to the US Department of Justice, Mohammad was in charge of the illegal digital currency money services business – Herocoin – from December 2014 to November 2019. During this period, he offered Bitcoin-to-cash exchange services, charging fees of up to 25 percent – significantly above the usual market rate. The investigation added that Mohammad advertised Herocoin’s services online, asserting that he could exchange up to $25,000 worth of the primary cryptocurrency. Subsequently, under the nickname ”Superman29”, he would meet his clients – some of them criminals – in private to provide the service, but he never questioned the source of their funds. ADVERTISEMENT The US authorities acknowledged that they put into action undercover agents, who reached out to the outlaw for his services. They told him that their money comes from prostitution, human trafficking, and dark web activities, but Mohammad still did business with them and exchanged the cryptocurrency. In addition to the two years that he has to spend behind bars, ”Superman 29” also agreed to give over 17 BTC ATMs, 18.5 BTC, 222.5 ETH, and $22,820 in cash to the authorities. Other Punishments for Crypto Scams The aforementioned Kais Mohammad is not the only individual who will see a prison cell from the inside. One of the most notorious scandals this year was the Turkish trading venue Thodex. According to the authorities, the CEO of the crypto exchange has allegedly scammed its users and fled the country with a sizeable portion of their funds. However, the officials in Turkey sent to prison six members accused of being part of the criminal affairs. Interestingly, two of the suspects are the brother and the sister of Faruk Fatih Özer – founder and Chief Executive Officer of the platform. The aforementioned individuals are the first to be imprisoned after many others were released in the previous weeks due to lack of evidence. Nonetheless, the Turkish government assured that they are putting great efforts into catching the head of the criminal platform – Özer – as they search for him in four different countries: ”When he is caught with the red notice, we have extradition arrangements with a large part of these countries. God willing he will be caught and he will be returned.” SPECIAL OFFER (Sponsored) Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer). PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC. You Might Also Like: El Salvador’s president revealed at the ongoing Bitcoin 2021 Conference in Miami that he plans to make bitcoin a legal tender in his country. Speaking at the Bitcoin 2021 event, Nayib Bukele, the president of El Salvador, said he is planning to introduce a law that will make bitcoin a legal form of money in the country. According to a  video broadcast at the conference today, Bukele said he would send the bill to Congress next week. If the bill pushes through, El Salvador will become the first sovereign nation to adopt bitcoin as legal tender, alongside a fiat currency. Bukele believes that the central banks are increasingly taking actions that can negatively impact the economic stability of El Salvador. He further added that in the short term, the move would create jobs and help provide financial inclusion to thousands of people in the country. El Salvador’s central bank will also adopt bitcoin as part of its reserves, while citizens will be allowed to freely transact with the primary cryptocurrency. President Nayib Bukele also revealed that the country has already partnered with Strike, a digital wallet company, to build modern financial infrastructure with the blockchain. Although Bukele did not provide enough details about how his plan will play out, Jack Mallers, founder of Strike, noted that the move will be a “shot heard ‘round the world for bitcoin.” Mallers also noted that the development, if successful, will unleash the power of bitcoin for daily use cases on “an open network that benefits individuals, businesses, and public sector services.” Meanwhile, bitcoin proponents like Adam Back believe bitcoin becoming a legal tender was inevitable and is here already. SPECIAL OFFER (Sponsored) Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer). PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC. Enjoy reading? Share with your friends [PRESS RELEASE – Singapore, Singapore, 5th June 2021] Justin Sun, the founder of TRON has won the bid for the first-ever Golden Whale Pass as an NFT in an auction hosted by NFT Glee in association with Bitcoin 2021. The pass gives the holder lifetime whale access to all future Bitcoin Conference events as well multiple VIP benefits at the Bitcoin 2021 conference. The hammer price of 12.6 BTC makes the Golden Whale Pass the highest-priced Bitcoin NFT ever. Bitcoin 2021 is set to be the largest event in crypto history, with a crowd of over 50,000 people expected to descend on Miami for the event. Bitcoin 2021 will feature a massive collection of the best and brightest minds in the space including US policymakers and senators, thought leaders like Jack Dorsey, and Microstrategy chairman and CEO Michael Saylor amongst others. The event will feature dozens of one-of-a-kind BTC activations and the chance to celebrate the world’s best technology and innovative projects poised to revolutionize. While 2020 was the year of DeFi, 2021 was the year NFTs captured mass fascination. Interest from respected thought leaders, athletes, influencers, and celebrities has resulted in the NFT space booming with new innovative ideas and investment. Justin has been an avid proponent of NFTs since the very beginning and has used his platform to further educate and transform the NFT economy and its use cases. Justin believes that NFTs are not only a fantastic platform for digital artists to shine but also can serve as a bridge between the traditional and digital art worlds. Recently Justin donated his entire collection of art including “OCEAN FRONT” by Beeple, Picasso’s “Femme nue couchée au collier”, Andy Warhol’s “Three self-portraits” and most recently a full collection of works by the renowned artist Pak; to the APENFT project as he was impressed by the team and their vision to be the ARK Funds in the NFT space. The APENFT team successfully launched their first native token $NFT on the new and improved Huobi Prime as well as on Poloniex LaunchBase 2 “Bitcoin epitomizes everything that cryptocurrency innovation stands for, and will continue to stay in the forefront of our industry as we enter mass adoption,” said Justin Sun. “It is exciting to see large-scale NFT use cases such as the Golden Whale Pass and I am excited to be a part of this legacy. Congratulations to The Bitcoin Conference team and the NFT Glee team, I plan on donating this NFT to the APENFT project and look forward to using my pass well into the future.” About TRON TRON is dedicated to accelerating and the decentralization of the internet through blockchain technology and decentralized applications. Founded in September 2017 by Justin Sun, the company has delivered a series of achievements, including MainNet launch in May 2018, network independence in June 2018, and TRON’s Virtual Machine launch in August 2018. July 2018 also marked the acquisition of BitTorrent, a pioneer in decentralized services boasting approximately 100M monthly active users. SPECIAL OFFER (Sponsored) Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer). PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC. Enjoy reading? Share with your friends