Trader from Chicago stole $ 3 million in cryptocurrency

Home » BITCOIN » Trader from Chicago stole $ 3 million in cryptocurrency
2018-02-17
Trader from Chicago stole $ 3 million in cryptocurrency

The FBI is investigating a criminal case against 24-year-old Joseph Kim, who works as an assistant trader in Consolidated Trading LLC. The young man is accused of having stolen from the company almost $ 3 million in cryptocurrency.

According to the FBI, Kim traded Consolidated’s bonds, and despite ordering to stop all personal trading outside of his immediate work, stole the company from cryptocurrency, transferring it to his personal purses. In total, about 284 biticoins were lost from the company’s accounts ($ 2.8 million at the current rate).

When he was charged with theft, Kim admitted that he had invested the company’s bitcoins in short positions to cover his personal losses. As it turned out later, he had debts on gambling. FBI officials note that Kim’s case was the first in Chicago concerning cryptotrading.

As representative of the Republican Party Jeff Vaninger noted, changes in the state’s tax law are aimed at making Arizona a comfortable place to live for users of new technologies. He also believes that in this way Arizona sends a signal to everyone in the US and the rest of the world that in the future the state will be open to blockchain and digital currencies.

“This means that the funds are being sent to the state, and after that it is the state that is responsible for the further conversion of the [cryptocurrency]”

CRYPTOCURRENCIES
  • bitcoinBitcoin$3,946.05
  • ethereumEthereum$137.42
  • rippleXRP$0.313436
  • tetherTether$1.00
  • eosEOS$3.75
  • stellarStellar$0.089669
  • litecoinLitecoin$57.73
  • cardanoCardano$0.046167
  • tronTRON$0.022528
  • moneroMonero$50.16
  • iotaIOTA$0.287872
  • nemNEM$0.047434
  • dashDash$81.18
  • neoNEO$9.01
What is Blockchain?
“Giving users easy access to many different kinds of digital assets on the blockchain and, particularly, tokens that are linked to assets in the real world, is crucial to seeing blockchain adoption reach the next level, and I applaud Digix Global’s initiative in being the first of many such projects to successfully launch” – Vitalik […]
2019-03-06 0 39
What is Bitcoin?
The cryptocurrency industry is becoming more and more popular all around the world. Despite the fact that there are more than 1000 different cryptocurrencies and the number keeps growing, cryptocurrency is often associated with Bitcoin. Bitcoin is the first modern cryptocurrency in the world; it attracts thousands of users and investors from different countries. Millions […]
2019-03-05 0 36
Anton Vokrug, the CEO of DataTrading, about the financial markets and cryptocurrencies
The topic of cryptocurrency regulation will be actual for several more years in Ukraine. The Government of Ukraine has already taken steps towards the adoption of relevant cryptocurrency-related laws. In particular, the Ukrainian officials work on the legalization of the project “The Concept of State Policy in the Field of Virtual Assets”. However, what does the regulation really mean […]
2019-02-27 0 138
IBM used blockchain to ship 28 tons of citrus fruits from China to Singapore
On the eve of the Chinese New Year celebration, the technological giant IBM delivered 28 tons of oranges and tangerines from China to Singapore. When issuing a bill of lading confirming the contract of shipment, the blockchain technology was used, reports CoinDesk. IBM experts note that the electronic bill of lading (e-BL) has accelerated administrative […]
2019-02-19 0 20
© 2017–2018