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Fan tokens based on members of England’s Euro 2024 team, including Jude Bellingham, manager Gareth Southgate, and captain Harry Kane, have all tanked in price ahead of the make-or-break quarter-final clash against Switzerland on Saturday.  The tokens were created to cash in on the hype around the quadrennial tournament. However, it didn’t take long for them to be labeled as scams. Indeed, speaking about Captain Harry Kane token ($CHK), Russian cybersecurity provider Kaspersky said: “Hackers are taking advantage of the popularity of Euro 2024 to sell personalized coins featuring the most popular players, promising impressive returns.” The coin has dropped almost 99.9% since its all-time high on June 6. Branding of the Captain Harry Kane coin. Other tokens based on the squad, including $JUDE (Jude Bellingham) and $GARETH (Gareth Southgate) haven’t faired well either. Bellingham managed to save England from an embarrassing tournament exit with a spectacular last-minut...

The UK’s Financial Conduct Authority (FCA) says it is clearing an ‘operational backlog’ by approving an increasing number of registering crypto firms and growing its crypto capability to 100 employees.  In a speech given yesterday, the FCA’s joint executive director of enforcement and market oversight, Steve Smart, said that crypto firms are registering with the regulator at an increased rate thanks to the FCA helping them to better navigate its registration process.  Smart said that prior to this, “some 86% of the initial crypto registrations we received were rejected, withdrawn or refused.” He said a total of 44 crypto firms are now registered with the FCA while the watchdog works “to eliminate our operational backlog.”  To help it relieve this logjam, the Financial News (FN) reported today that the FCA has increased its crypto staff to 100 and that the fastest-growing crypto team in the organization is its policy department .   FCA too slow on crypto enforcement, says UK...

A UK man dubbed the ‘El Chapo of the Cotswolds’ is facing 120 years in prison after a court ruled he can be extradited to the US to face charges of running an illegal drugs ring that has allegedly raked in more than $6 million in Bitcoin . Matthew Grimm was charged with five counts of drug charges and one count of money laundering for his alleged role in a multimillion-pound drug racket selling designer amphetamines to US customers. The 49-year-old allegedly ran the operation alongside two accomplices for over 10 years, transporting drugs from the Netherlands using online marketplaces such as ‘Smokeyschemsite.’ US authorities reportedly froze £5.2 million ($6.5 million) worth of bitcoin connected to his alleged drug proceeds.  Grimm was arrested in 2022 and given the green light for extradition by the country’s then-Home Secretary. He later appealed his US extradition, telling prosecutors to ‘bring it on,’ before, as reported by the Mirror, a High Court judge ruled again...

A multi-billion dollar bitcoin laundering case has reportedly revealed how estate agents in Dubai attempted to launder funds via the sale of Scottish land in a ‘starkly fraudulent’ scheme.  Former takeaway worker Jian Wen was convicted last week of launder ing billions of dollars worth of bitcoin on behalf of fugitive Chinese fraudster, Zhimin Qian. As reported by the Financial Times, during her prosecution, messages between Wen and Dubai-based estate agent Michael James Burke revealed a possible property deal in Scotland that would supposedly offer ‘ a 100% return on paper .’ Burke told Wen that he has “played with the valuation and the purchase price,” of his Scottish land to ensure a lucrative return. He said they accept cash or bitcoin before offering buyers a loan that can make “100% profit over two years.”  Scottish bitcoin scheme was ‘starkly fraudulent’ Prosecutor Gillian Jones claimed during Wen’s proceedings that Burke’s offerings were “ another ...

A UK crypto firm allegedly used to dodge sanctions report edly sent $4.2 million in crypto to a known member of an international Russia n arms dealing network before he was sanctioned by the US.  Crypto infrastructure firm Copper reportedly sent millions to the crypto wallet of Jonatan Zimenkov, an Israel-born Russian national accused by the US Office of Foreign Assets Control (OFAC) of helping his father Igor Zimenkov, avoid sanctions and run an arms dealing collective. Igor Zimenkov is alleged to be the leader of the Zimenkov network, which is accused by the OFAC of selling military equipment to third-world countries on Russia’s behalf while supporting defense entities key to Russia’s military-industrial complex. “Igor and Jonatan Zimenkov both had direct correspondence with sanctioned Russian defense firms. They have additionally been involved in multiple deals for Russian cybersecurity and helicopter sales abroad,” the OFAC sanction reads. Screenshot shared by th...