{"id":135458,"date":"2024-08-14T12:30:16","date_gmt":"2024-08-14T09:30:16","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135458"},"modified":"2024-08-14T09:32:05","modified_gmt":"2024-08-14T06:32:05","slug":"canadian-crypto-exchange-exec-allegedly-embezzled-9-5-million-for-gambling","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/canadian-crypto-exchange-exec-allegedly-embezzled-9-5-million-for-gambling\/","title":{"rendered":"Canadian Crypto Exchange Exec Allegedly Embezzled $9.5 Million for Gambling"},"content":{"rendered":"<p>A <strong><a href=\"https:\/\/www.bcsc.bc.ca\/-\/media\/PWS\/New-Resources\/Decision-and-Orders\/Decisions\/2024\/2024-BCSECCOM-348.pdf\" target=\"_blank\" rel=\"nofollow\">review<\/a><\/strong> by the British Columbia Securities Commission (BCSC) found that Smillie siphoned approximately 935 Bitcoins and 159 Ethers from the platform between 2016 and 2019.<\/p>\n<p>The stolen funds were channeled through his accounts to online gambling sites, leaving many customers unable to retrieve their investments.<\/p>\n<p>EzBtc, which ceased operations in 2019 and was dissolved in 2022, had promised to safeguard assets in cold storage. However, Smillie\u2019s actions led to significant losses for users.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/sec-crackdowns-on-650-million-cryptocurrency-ponzi-scheme\/\" title=\"SEC Crackdowns on $650 Million Cryptocurrency Ponzi Scheme\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/1140-wooden-gavel-court-house-ruling-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">SEC Crackdowns on $650 Million Cryptocurrency Ponzi Scheme<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The BCSC plans to impose penalties by September 24, which could include fines or market bans.<\/p>\n<p>In a broader context, cryptocurrency use in Canada remains low, with only 3% of Canadians engaging in crypto transactions.<\/p>\n<p>The majority still prefer traditional payment methods or e-transfers, reflecting a cautious approach towards digital currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>David Smillie, founder of the now-defunct Canadian crypto exchange ezBtc, is facing allegations of embezzling CAD 13 million (USD 9.5 million) from his users, reportedly using the funds for gambling.<\/p>\n","protected":false},"author":3,"featured_media":23918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-135458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canadian Crypto Exchange Exec Allegedly Embezzled $9.5 Million for Gambling<\/title>\n<meta name=\"description\" content=\"David Smillie, founder of the now-defunct Canadian crypto exchange ezBtc, is facing allegations of embezzling CAD 13 million ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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