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HomeSecurityWoman Loses $8 Million In Crypto Scam, But Court Says Binance Is...

Woman Loses $8 Million In Crypto Scam, But Court Says Binance Is Not Liable

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TL;TD:

Binance, the world’s largest cryptocurrency exchange, has been ruled not liable for the $8 million loss incurred by a Texan woman in a pig butchering scheme. The judge dismissed the lawsuit, stating a lack of personal jurisdiction over Binance. The scam involved a romantic connection on Tinder and false promises of financial prosperity. Binance has faced regulatory scrutiny in the US, including lawsuits from the CFTC and investigations by the SEC and IRS. Despite these challenges, the price of BNB, Binance’s native currency, remains steady and has seen a 15% increase since March 2023.

Facts

  • ๐Ÿšซ Binance not held liable for $8 million loss in pig butchering scheme lawsuit.
  • ๐Ÿ’” Scam involved romantic connection on Tinder and false promises of financial prosperity.
  • โš–๏ธ Judge dismissed the case due to lack of personal jurisdiction over Binance.
  • ๐Ÿ”Ž Binance faces regulatory scrutiny from CFTC, SEC, and IRS.
  • ๐Ÿ’ฐ Price of BNB, Binance’s native currency, remains steady and has increased 15% since March 2023.
  • ๐Ÿ“‰ BNB currently trading above $300 and bullish.
  • ๐Ÿ›๏ธ Lawsuits and investigations surround Binance’s operations and compliance.

This article first appeared in NEWSBTC. Continue reading...

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