Among the typical cases recently jointly issued by the Supreme People's Procuratorate and the State Administration of Foreign Exchange to punish foreign exchange-related crimes, there are two cases involving OTC business in the currency circle. Below, the author will analyze the legal risks existing in the OTC business of the currency circle based on cases.
JinseFinanceHong Kong, ETF, USDT, Bitcoin ETF, OTC U exchange. I experience the gray area of Web3 in Hong Kong. Golden Finance, web3 is always happening in Hong Kong, and it is also happening around you and me.
JinseFinanceIn recent days, there has been a lot of news circulating on the Internet about the illegal financial activities of buying and selling virtual currencies, making friends in the currency circle panic.
JinseFinanceRegarding the behavior of OTC merchants making money from the price difference by buying and selling the stable currency USDT, can these currency exchanges be charged with an "illegal business crime"?
JinseFinanceWintermute has found itself embroiled in a legal controversy as creditors of the bankrupt cryptocurrency lending platform, Celsius, have made serious allegations against both entities.
Bitcoinist
Coinlive Wintermute booked $225 million in revenue during the first nine months of 2022, Forbes reported.
OthersAccording to a crypto sleuth Librehash, the Wintermute hack required a level of security clearance only available to insiders.
BeincryptoHacker warned of legal consequences by Wintermute if stolen funds not returned.
OthersDigital asset algorithmic market maker Wintermute has been exploited for approximately $160 million in its decentralized finance operations.
Beincrypto