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Cryptocurrency

Business
Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital
Dow Drops 1,000 Points: US Stock Market In Free Fall, Wiping Away Trillions In Capital Investors hoping the major dip in the stock market last week was just a blip were greeted with even more losses on Monday, Aug. 5, as fears of a recession and global turmoil sent stocks tumbling. The Dow Jones Industrial Average fell 1,200 points at one point but closed 1,000 down. The S&P 500 dropped more than 3 percent and the Nasdaq fell 3.4 percent.  The massive sell-off began on Friday after a US jobs report showed that employer hiring in July had slowed more than analysts had predicted. Investors were already on edge over fears the US Federal Reserve had left interest ra…

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by Josh Lanier
News
Former FTX CEO, MIT Grad Sam Bankman-Fried Charged With Defrauding Investors Of $1.8 Billion Former FTX CEO, MIT Grad Sam Bankman-Fried Charged With Defrauding Investors Of $1.8 Billion
Former FTX CEO, MIT Grad Sam Bankman-Fried Charged With Defrauding Investors Of $1.8 Billion The former CEO of what used to be one of the world's largest cryptocurrency companies has been charged with defrauding investors of almost two billion dollars, authorities said. The Securities and Exchange Commission (SEC) charged Samuel Bankman-Fried on Tuesday, Dec. 13, with defrauding FTX investors out of more than $1.8 billion.  The SEC alleges that Bankman-Fried raised the funds – including $1.1 billion from 90 US-based investors – by falsely promoting a safe, responsible cryptocurrency since May 2019.  "We allege that Sam Bankman-Fried built a house of cards on a foundation of dece…

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by David Cifarelli
Police & Fire
Northampton Police Warn Of Email Scam Northampton Police Warn Of Email Scam
Northampton Police Warn Of Email Scam An alert has been issued by law enforcement agencies in Western Massachusetts regarding a cryptocurrency scam that has been making the rounds in the region. In Hampshire County, police in Northampton issued a notice to the community advising of a scam involving currency accounts that have been hacked by fraudsters. According to the Northampton Police Department, users have been instructed to be cautious if they receive any emails saying that an account was compromised which include potentially harmful links. Police did not note if any cryptocurrency accounts have been compromised. “Do not…

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by Zak Failla
News
CT Man Who Downloaded Child Sex Abuse Images Sentenced CT Man Who Downloaded Child Sex Abuse Images Sentenced
CT Man Who Downloaded Child Sex Abuse Images Sentenced A Connecticut man who admitted to possessing child pornography will largely avoid time behind bars after being sentenced in Hartford District Court. Windham County resident Shayne Shayer, age 40, of Thompson, was sentenced to one day in prison, time already served, and 10 years of supervised release for downloading child sex abuse videos from the dark web, federal prosecutors announced. According to court documents, a Homeland Security investigation that was launched by law enforcement in Europe, determined that in January 2018, Shayer used cryptocurrency to access a dark web server and dow…

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by Zak Failla
News
COVID-19: Beware Of These Five New Scammer Tactics, Utility Companies Warn COVID-19: Beware Of These Five New Scammer Tactics, Utility Companies Warn
Covid-19: Beware Of These Five New Scammer Tactics, Utility Companies Warn With the United States crossing a grim milestone as the COVID-19 death toll topped 500,000, utility companies are cautioning about new scams that have arisen in the past year as opportunistic fraudsters look to take advantage of the pandemic. Utility companies across the country have issued alerts regarding new scams as they seek to allow their customers to protect themselves from scammers exploiting the COVID-19 outbreak. According to officials, one of the largest threats involves scammers aggressively threatening to disconnect service, claiming that bills are past due, unless a payment is…

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by Zak Failla
Police & Fire
Man Accused Of Converting Profits From Knock-Off 'Gucci' Into Bitcoin Is Indicted Man Accused Of Converting Profits From Knock-Off 'Gucci' Into Bitcoin Is Indicted
Man Accused Of Converting Profits From Knock-Off 'Gucci' Into Bitcoin Is Indicted A Central Mass man has been accused of using Bitcoin to launder profits from the sale of illegal items such as knock-off Gucci bags. On Thursday, March 4, Alan Joseph 32, of Fitchburg, was indicted by a grand jury on the charges of operating an unlicensed money transmitting business, and 4 counts of money laundering, the U.S. Attorney’s Office, Massachusetts, said. From August 2020 to February 2021, Joseph allegedly engaged in 4 financial transactions in which he used money he thought had been obtained through the sale of contraband and turned it into Bitcoin as a way to make the source of…

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by Kristin Palpini