Wyre had been a partner of Binance US, through which Binance was able to accept USD deposits. However, Binance US is now the target of SEC regulatory action, and has suspended US dollar deposits. Wyre wrote in their announcement that the closure "is not due to any regulatory agency direction". Sure thing.
Sadly for them, they were unable to obtain a VASP registration in the country, and their "many alternative avenues to service Dutch residents in compliance with Dutch regulations" didn't pan out either. They announced that, effective immediately, they would no longer be accepting new customers from the region. Existing customers in the country will soon be only able to withdraw assets, and will not be able to purchase assets or trade on the platform.
The company is also banned from operating in the state going forward. The agreement requires CoinEx to implement geoblocking to prevent people with New York IP addresses from accessing the platform, and prohibits the company from creating new accounts for US customers or allowing US customers to do anything other than withdraw their assets.
- "Banned In New York, CoinEx Returns $1.7 Million to Settle Lawsuit", Decrypt
- "Attorney General James Recovers $1.7 Million from Cryptocurrency Platform for Operating Illegally", press release by New York Attorney General Letitia James
The group announced that they were working with "the FBI, the Department of Homeland Security, our regulators and Chainalysis" to investigate the attack. The group had previously earned SOC 2 certification for its cybersecurity controls.
Texas securities regulator alleges in cease-and-desist that Abra crypto lender has been insolvent for months
According to the complaint, although Abra claimed it stored customer funds with the Fireblocks crypto custodian, they had actually been "secretly transferring assets" to Binance.
The regulator also alleged that Abra had around $30 million in assets with Babel Finance, $30 million with Genesis, and $10 million with Three Arrows Capital — three companies in various stages of liquidation or bankruptcy. They also have $8.8 million with Auros, a firm that was in liquidation but has since exited the process.
Delio, like Haru, advertised yields of more than 10%.
- "출금 중지 조치 안내", Delio (in Korean)
- "Two Crypto Platforms Halt Withdrawals in an Echo of the Sector’s 2022 Woes", Bloomberg
In the bankruptcy filings, Banq alleges that $17.5 million in assets were stolen by former officers, described in the listing as "computers, trade secrets, proprietary information and technology, business records, etc." The transfer allegedly was made to Fortress NFT Group, a rival company founded by the former CEO, CTO, and CPO. A lawsuit from Banq filed against Fortress and the executives in May 2022 alleges that the executives "stole not only Banq's technology, but also significant other value of Banq's, and used the purloined property to launch Defendants Fortress NFT and Planet NFT using Banq's assets, employees, trade secrets and proprietary technology, claiming all of it to be their own." They also claim that the defendants deleted files and engaged in other fraudulent activity to try to cover up the theft.
The following day, the company named the partner as B&S Holdings (formerly Aventus), and announced that they were taking legal action against the company for filing falsified management reports.
Haru Invest advertised APR in the double digits.
On June 22, Haru laid off 100 employees. Haru explained in a blog post: "after much consideration, it comes with a heavy heart to inform you that we will be minimizing the operations of Haru Invest and its affiliated companies to prevent further damages that are likely to be incurred". Haru's CEO told local media that Haru's offices were empty because employees were working from home for their own safety. After Haru halted withdrawals, they closed their office, and CoinDesk reported that "all company officials disappeared".