Enforcement Actions

NVIDIA has recently faced a class-action lawsuit from investors for concealing over $1 billion in cryptocurrency mining revenue, which has been officially approved to proceed by a U.S. federal judge. Investors allege that NVIDIA failed to adequately disclose its business's reliance on cryptocurrency demand during the period from 2017 to 2018, which affected its stock price. Although NVIDIA claims that cryptocurrency mining only accounts for a small portion of its business, the company benefited significantly during the crypto boom, and subsequently, its business performance was impacted by fluctuations in demand.

On March 29, Singapore cracked a case of internal employee conflict involving the theft of cryptocurrency assets, with an amount of 8.83 million Singapore dollars at stake. Three defendants, dissatisfied with their dismissal, illegally hacked into their former employer SafeX's account, stole cryptocurrency, and laundered money. Zhang Xinghua has pleaded guilty and received a two-year sentence, while one of the other two has fled.

The UK has imposed new sanctions on Southeast Asian scam networks, naming Chen Zhi and his long-time collaborator Hu Xiaowei, and sanctioning the cryptocurrency exchange "New Coin," alleging that it supports fraudulent activities.

Senator Elizabeth Warren requested the U.S. Department of Commerce to provide records on Bitmain Technologies amid concerns of national security risks related to its bitcoin mining equipment. This inquiry is part of the ongoing "Operation Red Sunset" investigation into potential espionage and power grid disruptions. Warren also expressed worries about possible political influences due to business ties between the Trump family and Bitmain.

Coin Center's Executive Director stated that the Trump administration failed to fulfill its promises, leading to legal risks for developers of cryptocurrency privacy software. Currently, the U.S. Department of Justice has filed lawsuits against multiple developers, exacerbating compliance uncertainty in the industry.

The Washington State attorney general filed a civil lawsuit against prediction market platform Kalshi, alleging it violated state law with prediction services covering sports events and other events. Kalshi denies the alleged violations and says it is confident it will prevail. This case is one of several lawsuits it is facing.

The Attorney General of Washington State has filed a lawsuit against the prediction market platform Kalshi, accusing it of violating state gambling laws and seeking to prohibit its operations and recover damages. Kalshi claims it operates in compliance with the law and denies the related accusations, and it is currently facing multiple lawsuits.

Kalshi is facing another state-level lawsuit after the state of Washington on Friday filed allegations that the prediction market operator violated state gambling laws with its products. The Washington Attorney General’s complaint cites the Pacific Northwest state’s existing ban on online gambling

Vietnam is investigating a major crypto fraud linked to Vemanti Group, which reportedly attracted billions from investors. The case reflects increasing scrutiny over online financial scams in Vietnam and the region as the crypto market expands.

In brief California public officials are banned via executive order from using inside information to make money on prediction markets. The ban extends to state officials and appointees using information to help others from profiting, as well. The order follows continued scrutiny from

Brazilian President Lula signed an anti-gang bill that authorizes the freezing and confiscation of criminal assets, including cryptocurrencies, stocks, and luxury goods. This bill encourages the public to report in order to receive asset rewards and increases penalties for violent criminal organizations.

As cryptocurrency investment heats up in Taiwan, regulatory authorities are increasing their focus on "copy trading" behavior. The Financial Supervisory Commission plans to regulate KOL investment advice through legislation to establish an orderly market. At the same time, multiple illegal solicitation cases highlight the clarity of regulatory boundaries. The public should carefully choose legitimate platforms to protect their rights and interests.

Florida-based crypto company Goliath Ventures has filed for Chapter 11 bankruptcy reorganization, accused of a $328 million Ponzi scheme, with over 2,000 investors affected. The former CEO has been arrested for telecom fraud and money laundering, with funds misappropriated to pay returns to early investors and for lavish spending.

Goliath Ventures has filed for bankruptcy reorganization in Florida, accused of being involved in a $328 million Ponzi scheme, with over 2,000 victims. The former CEO has been arrested and faces charges of wire fraud and money laundering.

Senator Elizabeth Warren has reportedly asked the US Commerce Department to explain how it is handling potential national security risks tied to Chinese crypto mining giant Bitmain, following previous reports that the firm has been under federal scrutiny. In a letter sent Thursday to Commerce

U.S. Senator Elizabeth Warren sent a letter to Commerce Secretary Howard Lutnick, requesting documents related to Bitmain to understand the potential risks the company poses to national security. Bitmain is a major manufacturer of Bitcoin mining machines and is under investigation by the Department of Homeland Security regarding safety concerns related to its equipment and connections to the Trump family.

Gate News Report, on March 28, on-chain detective ZachXBT tweeted that Circle had unfrozen ckUSDC (Dfinity bridge) and two other hot wallets with addresses starting with 0x00e a few hours ago. As of now, 5 out of the 16 hot wallets previously mentioned have been unfrozen. ZachXBT stated that once the New York civil case is unsealed, he will publicly name the plaintiffs, experts, and all other relevant parties in the case.

Senator Warren of the Democratic Party sent a letter to the Secretary of Commerce, asking for clarification on national security concerns regarding the Chinese Bitcoin mining manufacturer Bitmain, particularly concerning the Trump family's stake in American Bitcoin's purchase of mining machines. U.S. authorities have launched an investigation, worried that the related equipment could be used for espionage activities or pose a threat to the power grid's security. Bitmain and American Bitcoin deny any security issues, stating that they comply with the law. This issue reveals the tension between politics and national security.

The UK imposed sanctions on scam networks in Southeast Asia, including Hu Xiaowei, who is closely linked to the founder of the Cambodian royal prince group, Chen Zhiming, whom it refers to as "Wu Anming." It also stated that he is a long-term collaborator of Chen Zhiming and provides support. At the same time, a virtual currency trading platform was also sanctioned for offering crypto services that facilitate scams.