Commodity Futures Trading Commision [CFTC] has filed a case against Blake Harrison Kantor, Nathan Mullins, Blue Bit Banc, Blue Bit Analytics Ltd, G. Thomas Client Services and Mercury Cove Inc for a fraudulent scheme involving ATM Coin [ATMC].
According to the complaint, Blue Bit Banc was initially offering U.S retail customers trading in binary options. Kantor, Analytics, Mullins, Thomas, and Mercury Cove were operating and functioning as a common enterprise, the Blue Bit Enterprise and were involved in unlawful acts and practices with Blue Bit who later got involved in a cryptocurrency fraud.
Blake Harrison Kantor who is also known by the name Bill Gordon launched the Blue Bit Website and introduced it to the investors as an exceptional trading platform where they can trade in binary in a simple and smart way.
Kantor and other individuals working on behalf of the enterprise manipulated the customer’s accounts to an extent where some customers online account was nearly drained.
In order to conceal their binary fraud, Kantor started a new fraudulent scheme where he approached customers of Blue Bit who still had a large amount of money and fooled them to transfer them to a newly formed affiliated cryptocurrency company, Bitsblockchain.com
Kantor propagated the scheme by offering the customers a chance to purchase a new virtual currency, ATM Coin [ATMC] via BitsBlockchain.com. He told the customers that they would receive the coin with a value in US dollars that is more than the US dollar in their Blue Bit account. In addition, he urged the customers to invest more for better returns.
Two customers were informed that their Blue Bit account was transferred to Bitsblockchain which had a balance of approx. $300,000 and $175,000. The customers saw their ATMC holding going up to more than $2 million.
When one of these customers tried to withdraw their ATMC fund from BitsBitcoin, the attempt turned out to be unsuccessful. Following which, the ATMC account dropped from more than $2.9 million to $814,381.
When questioned upon why the withdrawal attempt was unsuccessful, a representative of Bitsblockchain informed the customer that the ATMC account has been temporarily blocked due to an investigation.
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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
Crypto News – 25 May – Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more
— AMBCrypto (@CryptoAmb) 25 May 2019
Daily Crypto News – May 25
1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.
Read more at https://bit.ly/2VRQwb0
2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.
Read more at https://bit.ly/2W40sTR
3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.
Read more at https://bit.ly/2X6fdlw
4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.
Read more at https://bit.ly/2McaTjE
5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.
Read more at https://bit.ly/2wmk4mJ
6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.
Read more at https://bit.ly/2HUEnNB
7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.
Read more at https://bit.ly/2W64KKj
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