Know Your Customer

The South Korean Financial Intelligence Unit (FIU) ordered for a suspension of operation of Upbit, the country's largest crypto exchange, for violating the Anti-Money Laundering (AML) Policies. The Financial Intelligence Unit has notified Upbit of the punishment, which would involve the banning of the exchange for six months, where it won't be able to provide services to new customers for the whole duration of the suspension.

World Liberty Financial, backed by the Trump family, has launched the KYC process for its WLFI tokens. Accredited US investors and non-US participants can join, while US retail investors are excluded due to regulations. The project hopes to expand access to all US users in the future.

This group of scammers has been associated with numerous rug pulls, including projects like Magnate, Kokomo, Solfire, and Lendora.

The funds were also connected to a "pig butchering" scam that cost U.S. citizens $3.3 billion in 2022, as per the FBI.

Recent court hearings disclosed that the bankrupt crypto exchange FTX utilized customer funds to repurchase its entire stake held by competitor Binance. The revelation came as part of ongoing investigations related to the trial of Sam Bankman-Fried, with the U.S. Department of Justice hiring an accounting professor to trace the funds between Alameda and FTX.

Because of their large transaction volumes, service provider inevitably transfer risk-associated USDT to exchange addresses, potentially triggering restrictions on these accounts due to their involvement with illicit activities.

The Supreme Court's decision to entertain arguments in this case signifies a crucial moment that could potentially reshape industry practices related to arbitration agreements.

The breach has since been resolved, and Bitfinex assures customers that no funds were lost.

Article exploring the potential rug-pull and tokenomic risks associated with KuCoin's latest product. Urges readers to conduct their own due diligence before investing.

The proposal is scheduled to be reviewed by the US Bankruptcy court in mid December