Singapore Launches Investigation into Illegal Trading of Worldcoin
11.09.2024 22:00 1 min. read Kosta Gushterov
On September 9, Singapore's Deputy Prime Minister Gan Kim Yong announced that an investigation is underway into seven individuals suspected of illegal trading of Worldcoin accounts and tokens.
As the Chairman of the Monetary Authority of Singapore (MAS), Yong stated that the police are investigating these individuals on suspicion of involvement in buying or selling Worldcoin accounts and tokens, which is in violation of the Payment Services Act of 2019.
He clarified that MAS does not recognize Worldcoin as a legitimate payment service under the Payment Services Act.
Yong emphasized that trading Worldcoin accounts and tokens as a business could involve payment services and may be illegal, potentially facilitating activities such as money laundering and terrorism financing.
Yong warned:
Users should be cautious about transferring access to their digital payment token wallets or World ID, as these accounts could be misused by third parties.
-
1
Cybercriminals Exploit GitHub to Distribute Crypto Malware
26.02.2025 20:00 2 min. read -
2
Gotbit Founder Extradited to U.S. Over Alleged Crypto Market Manipulation Scheme
27.02.2025 14:00 2 min. read -
3
Bybit’s Biggest Hack: What Investigators Have Found
04.03.2025 22:00 1 min. read -
4
India Intensifies Bitconnect Investigation, Seizing $190M in Crypto
16.02.2025 17:00 2 min. read -
5
Ex-Bank Staffer Pleads Guilty to Facilitating Fraud and Drug Money Laundering
15.03.2025 13:00 1 min. read
Ex-Bank Staffer Pleads Guilty to Facilitating Fraud and Drug Money Laundering
A former Bank of America employee has admitted to playing a role in an international money laundering network that funneled millions of dollars through fraudulent bank accounts, according to the U.S. Department of Justice (DOJ).
Argentine Lawyer Seeks Global Arrest Warrant for LIBRA Token Co-Creator
An international arrest warrant has been requested for Hayden Davis, co-creator of the LIBRA token, which became the center of a major political scandal in Argentina.
Ripple Co-Founder’s Wallet Compromised in $661 Million XRP Hack in 2024
Chris Larsen, the co-founder of Ripple, suffered a significant financial blow in 2024 when he lost over $661 million worth of XRP due to a security breach in the password management system LastPass.
Georgian Investor Faces Prison Amid Bitcoin Embezzlement Allegations
Venture capitalist and Mission Gate founder George Bachiashvili is now facing imprisonment in Georgia after a court revoked his bail.
-
1
Cybercriminals Exploit GitHub to Distribute Crypto Malware
26.02.2025 20:00 2 min. read -
2
Gotbit Founder Extradited to U.S. Over Alleged Crypto Market Manipulation Scheme
27.02.2025 14:00 2 min. read -
3
Bybit’s Biggest Hack: What Investigators Have Found
04.03.2025 22:00 1 min. read -
4
India Intensifies Bitconnect Investigation, Seizing $190M in Crypto
16.02.2025 17:00 2 min. read -
5
Ex-Bank Staffer Pleads Guilty to Facilitating Fraud and Drug Money Laundering
15.03.2025 13:00 1 min. read
