Dutch Trader Loses Reclamation Suit Against Banks That Froze His Accounts In November 2016, a Dutch cryptotrader tried to buy his first 10 bitcoin, first using funds from his ING bank and later from ABN Amro. Both banks denied the transactions. He subsequently filed a complaint with Ki…… Read More
BitAngels Founder Sues AT&T for $224 million Following Wallet Hacks BitAngels founder Michael Terpin has filed a $224 million lawsuit against telecoms provider AT&T, alleging that its negligence led him to lose about $24 million worth of cryptocurrency to fraudsters, accordin…… Read More
Lyn Ulbricht and the Effort to Free Ross: Looking at “the End of the Road” The darknet site founded by Ross Ulbricht, Silk Road, has been offline for years now. But the legal questions behind his conviction and subsequent sentencing to life in prison without the possibility of parole in 2015, remain fresh, raw and real to Ulbricht’s advocates. Among the people most passionate in their belief that Ulbricht has been given an unfair shake by the American justice system is his mother, Lyn Ulbricht. Her staunch support of her son should come as no surprise, and it’s a stance that has seen her make her case — that Ross was unjustly convicted and sentenced — to audiences of CNN, the Wall Street Journal and international media of every stripe. Lyn now has an unfortunate impetus for making a fresh round of appearances, in the recent denial by the U.S. Supreme Court to reconsider Ross Ulbricht’s conviction or life sentence. As a guest this week on The Tatiana Show! podcast, Lyn provided listeners not only with an update on the dwindling legal options available to the Ulbrichts but also with an intimate view of the personal costs that afflict the family members of those who have been incarcerated. Almost Out of Options There are many who are unsure of where they stand on Ross Ulbricht, whose online creation employed both Tor (a.k.a. The Onion Routing, an anonymous communication platform) and bitcoin to enable an anonymous global marketplace of items both illicit (drugs were a preponderance of the offerings) and legal (art, cigarettes, jewelry). His supporters see a man whose guilt was never actually proven and whose work actually served to take on the War on Drugs’ overreaches while standing up for personal privacy online. His detractors believe he became a bitcoin multimillionaire while committing a rash of crimes including money laundering, computer hacking, conspiracy to traffic narcotics and attempting to order the murders of six people. They also see Silk Road as a major contributor to a negative public image for cryptocurrency, a high-profile example of bitcoin as an engine of criminal activity. For those on the FreeRoss side of things, Ulbricht’s interview with show host Tatiana Moroz did not reveal a hopeful darkhorse plan to counter the Supreme Court’s June 28 decision, which effectively declined to consider arguments that Ulbricht’s fourth and sixth amendment rights had been violated. “You can’t go any further with it,” Lyn said of the possibility of filing another petition on those points. “That’s it. That’s the end of the road. According to our lawyers, who seem to know these things, there’s no other option.” Barring the emergence of new legal strategies, the primary hope that the Ulbrichts are clinging to is a granting of clemency by the President of the United States. “We’ve moved from the judicial to the political,” Lyn said. “His options for direct appeal to the courts has ended. There is something called a 2255 (motion for retrial) that you can do within the year. That rarely works, but we’ll try. We’re not counting on it. What we really are focusing on is clemency from the President, and that means commuting Ross’ barbaric sentence.” A petition supporting clemency has 38,000+ signatures as of press time. Family Matters In her conversation with Moroz, Lyn Ulbricht helped listeners to go beyond legal jargon with another dimension of the case. Her window on the effect of prison on nonviolent offenders, and the families attached to them, reveals the emotional impact of America’s punitive action penchant. “There are so many people in the prison system now that it’s bigger than 11 states! It’s really metastasizing. It’s a crisis,” Ulbricht relates. “What really gets to me is the children [who are visiting their relatives in prison]. The kids are so happy to see their dad, they’re crawling over him and in his lap, and they have to be torn away. Every time we leave, there are sobbing, heartbroken children, who are being harmed and have a better statistical chance of being in the prison themselves.” This article originally appeared on Bitcoin Magazine. … Read More
International Coalition Set to Tackle Cryptocurrency Tax Crime In a bid to fight the threat of cryptocurrency tax crime, the United States Internal Revenue Service (IRS) has joined with tax authorities from Australia, Canada, the Netherlands and the United Kingdom to form th…… Read More
DOJ, U.S. Agencies Seize Over $12M Bitcoin in a Slew of Dark Web Busts The U.S. Department of Justice, in cooperation with the Immigration and Customs Enforcement’s Homeland Security Investigations (HSI), the Secret Service (USSS), the Postal Inspection Service (USPIS) and the Drug …… Read More
Mt. Gox Creditors May Be Reimbursed in Bitcoin Under Civil Rehabilitation The Japan-based Mt. Gox exchange had its bankruptcy stayed due to a petition filed by some of the creditors for the commencement of civil rehabilitation proceedings in Tokyo District Court on November 24, 2017, a…… Read More
Op Ed: The Rise of Cryptocurrency Securities Lawsuits As the cryptocurrency market develops and grows, cryptocurrencies have become the subject of an increasing number of securities lawsuits. This year alone, more than 10 cryptocurrency securities lawsuits have been…… Read More
South Korean Exchange Coinrail Hacked, $40 Million in Crypto Reported Stolen South Korean cryptocurrency exchange Coinrail reported a hack on its website during the early morning hours of June 10, 2018. The thieves allegedly made off with over $40 million worth of altcoins and assorted to…… Read More
South Korean Supreme Court Rules Bitcoin Is an Asset South Korea’s Supreme Court just ruled that bitcoin is a legally recognizable asset. The landmark ruling occurred on May 30, 2018, and it overturns a decision made by one of the country’s lower courts in a case d…… Read More
U.S. Justice Department Probes Price Manipulation on Bitcoin Markets The U.S. Justice Department is looking into whether the price of bitcoin and other virtual currencies are being manipulated, according to a report in Bloomberg that referenced four unnamed sources for the informa…… Read More