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The South Korean yield platform said it has filed a criminal complaint against B&S Holdings and plans to initiate civil proceedings as well. B&S Holdings, formerly known as Aventus, a consignment operator , has been alleged by South Korean yield platform Haru Invest of submitting fraudulent management reports containing “false information” and deceiving the company and its users. Notice to Investors (June 14, 2023): https://t.co/RN01gswTfq pic.twitter.com/IbYb9dA3oP — Haru Invest (@haruinvest) June 14, 2023 In a blog post, Haru Invest shared that it was planning to pursue legal action on top of criminal proceedings against B&S Holdings “to protect our users." Haru Invest said it is engaged in discussions with B&S Holdings regarding the matter. The company concluded its announcement with an apology, stating: “Once again, we apologize for causing concerns and inconveniences to our investors and customers. We will continue to work on the issue in a faithful mann...

In the letter, SBF denies stealing funds and stashing billions of dollars away. The crypto community has voiced their opinions on former FTX CEO Sam “SBF’ Bankman-Fried’s “pre-mortem overview” of the collapse of FTX he published on Jan. 12 as a letter on Substack.  https://t.co/XVd0BPHxEU — SBF (@SBF_FTX) January 12, 2023 As previously reported by Cointelegraph, SBF denied the allegations made against him in the lengthy letter and maintained that FTX US had been “fully solvent” at the time the firm filed for Chapter 11 bankruptcy, with approximately $350 million in cash available. Bankman-Fried further stated that FTX International had a substantial amount of assets (approximately $8 billion) when John Ray became CEO. According to Bankman-Fried, “No funds were stolen. Alameda lost money due to a market crash it was not adequately hedged for–as Three Arrows and others have this year.” Unfortunately for him, the crypto community seemed unimpressed by SBFs “pre-mortem overview....