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"Bitcoin Jesus" Roger Ver renounced his U.S. citizenship to avoid taxes, and ten years later was pursued for nearly 50 million dollars in expatriation taxes

According to Reuters, earlier this month, the U.S. Department of Justice announced a deferred prosecution agreement with "Bitcoin Jesus" Roger Ver, under which his fraud and tax evasion charges will be dismissed in exchange for a payment of up to $49.9 million in fines.Roger Ver, one of the earliest Bitcoin evangelists, bought a large amount of Bitcoin in 2011 for less than $3 million. In February 2014, to avoid high tax burdens, he acquired citizenship in the Caribbean nation of Saint Kitts and Nevis and renounced his U.S. citizenship the following month. At that time, he and his companies held at least 131,000 Bitcoins, valued at over $70 million based on the price at that time. He believed that by changing his nationality, he could put an end to the high tax burden in the U.S.However, the U.S.'s stringent "exit tax" completely thwarted his plans. According to U.S. tax law, eligible expatriates must treat their global assets as if they were "sold the day before expatriation" and pay capital gains tax. Although Ver reported and paid $1.03 million in taxes, he not only failed to report his personal holdings of Bitcoin but also severely undervalued his company's assets. Ten years later, the IRS confirmed his fraudulent tax evasion (which is not subject to the statute of limitations), ultimately forcing him to pay back up to $49.9 million in taxes, fines, and interest, which is 48 times the amount he reported paying in taxes that year.

first_img Binance, Coinbase and other cryptocurrency companies participate in the anti-fraud operation in West Africa, identifying $11 million in funds that can be frozen

According to CoinDesk, the U.S. Department of Justice announced that authorities in Ghana and Nigeria arrested 28 people in an enforcement action against a West African scam network, which involved cryptocurrency investment fraud.The UK's National Crime Agency (NCA) stated that the operation also uncovered 117 victims of human trafficking in Ghana, who are awaiting repatriation to Nigeria. Private sector partners identified over $11 million in funds that could be frozen.The operation, hosted by the NCA, brought together tech companies and law enforcement agencies, aiming to combat scam networks targeting citizens of the U.S., U.K., and other countries. The Department of Justice stated that this is the first joint operation focused on West Africa. Cryptocurrency exchanges Coinbase and Binance, as well as blockchain analysis companies Chainalysis, Elliptic, and TRM Labs, were all involved.Coinbase stated that it assisted in tracking illegal funds, supporting asset freezes, and providing intelligence to investigators, identifying over 65 active scam victims and preventing over $415,000 in potential losses. TRM Labs claimed it uncovered a large-scale peer-to-peer money laundering network. In the Sasaabi region of Ghana, authorities arrested 19 people and seized 303 electronic devices; Nigeria arrested another 9 people. Meta reported that it has deleted over 3.7 million Facebook and Instagram accounts, pages, and groups, most of which targeted Americans and Britons through impersonation tactics. Law enforcement also received leads on over 30 suspected scam centers.

Ledger users encounter physical letter scams, with forged notifications requesting registration for a Bitcoin wallet through ZenLedger

According to Bitcoin News monitoring, a German Ledger user @jayr_crypto reported receiving a forged letter again this week. The letter impersonates Ledger, claiming that new regulations require users to register their Bitcoin wallets through a service called ZenLedger by October 31. The letter uses Ledger's official branding elements and mentions German financial regulators, while also including a QR code that directs users to a so-called mandatory registration process.The user believes that addresses exposed in a previous data breach are being used for targeted attacks on Ledger users. In the same week, Ledger coordinated with MediaMarktSaturn to suspend the sale of its hardware wallets in a European retail network covering 11 countries and over 1,000 stores.Earlier reports indicated that malicious spy implants were found inside Ledger devices purchased from European retailers. Ledger confirmed separately that compromised devices sold by a Southeast Asian distributor contained implants capable of stealing recovery phrases and transmitting them over cellular networks. Ledger has not confirmed any breaches of devices in Europe. Ledger users are currently facing physical supply chain tampering and targeted phishing attacks initiated using home addresses. Do not scan suspicious QR codes or enter recovery phrases.

first_img NEAR Intents: Frozen $503,000 of stolen funds from Bitget

Cross-chain trading protocol NEAR Intents stated in a post on X that on September 24, Bitget was attacked, resulting in approximately $387.5 million in funds being stolen, most of which were aggregated into Ethereum and converted to ETH. The hacker attempted to transfer over $50 million through NEAR Intents, but ultimately only $166,000 was successfully transferred, while $503,000 was intercepted during the execution process.NEAR Intents indicated that the relevant data comes from on-chain tracking tools, Arkham, internal logs, and risk control layer SHIELD, among other sources. The figures listed are rounded estimates, with an assessment deviation of no more than 10%. SHIELD identified over $50 million in money laundering attempts and has filtered out duplicate flows, of which $166,000 has been successfully transferred, while another $503,000 was frozen midway through execution and remains restricted, pending legal and recovery procedures.NEAR Intents stated: permissionless does not equal neutral, the team refuses to assist in cashing out stolen assets and will forgo the bounty from this incident to allow Bitget to recover funds as much as possible. Bitget previously established a 5% + 5% bounty arrangement. NEAR Intents also mentioned that the protocol will remain permissionless but set boundaries, and will combat money laundering of stolen funds, while suggesting Bitget contact legal and law enforcement channels to handle the frozen funds.
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