SEC Charges NovaTech in Crypto Fraud, $10M Crypto Mistake Lands Enthusiast in Jail

Simply Crypto

SEC alleges NovaTech ran a fraudulent crypto-centered scheme. A cryptocurrency enthusiast's spending spree after a $10M refund lands him in jail. Plus, a cryptocurrency platform diverts $13M to gambling sites and owner's accounts. Also, Zeus Network launches final testnet with 15K wallets connected in 72 hours.
Sources:
https://www.pymnts.com/cryptocurrency/2024/sec-alleges-novatech-ltd-ran-fraudulent-crypto-centered-scheme/
https://www.news.com.au/national/victoria/courts-law/cryptocurrency-enthusiast-jatinder-singh-jailed-for-spending-spree-after-accidentally-receiving-1047m-refund/news-story/8932bec1c58806b060a5f70fe7f76c3d
https://www.cbc.ca/news/canada/british-columbia/bc-crypto-trading-fraud-1.7292566
https://www.investing.com/news/cryptocurrency-news/zeus-network-launches-final-testnet-15k-wallets-connected-in-72-hours-3566770
Outline:
(00:00:00) Introduction
(00:00:44) SEC Alleges NovaTech Ltd Ran Fraudulent Crypto-Centered Scheme
(00:03:16) Spending ‘flurry’ after $10m crypto mistake
(00:05:54) Cryptocurrency platform diverted $13M to gambling sites, owner's accounts: B.C. Securities Commission
(00:07:42) Zeus Network Launches Final Testnet, 15K Wallets Connected in 72 Hours By Chainwire