A US hotel giant is preparing to pay a $45 million settlement to millions of customers affected by two massive data breaches. MGM Resorts International has reached the settlement over two breaches that hit about 37 million people in July of 2019 and September of 2023. The 2019 breach exposed sensitive data including names, addresses, […]
The post Hotel Giant Handing $45,000,000 To Customers After Massive Data Breaches Hit Millions of People appeared first on The Daily Hodl.
A US hotel giant is preparing to pay a $45 million settlement to millions of customers affected by two massive data breaches. MGM Resorts International has reached the settlement over two breaches that hit about 37 million people in July of 2019 and September of 2023. The 2019 breach exposed sensitive data including names, addresses, […]
The post Hotel Giant Handing $45,000,000 To Customers After Massive Data Breaches Hit Millions of People appeared first on The Daily Hodl.
Bitcoin payments firm Strike now offers callback phone support to its verified U.S. customers. “We know that sometimes a phone conversation is the most effective way to get the help you need,” the company said when it officially announced the service on Thursday, also calling it “the best support experience in bitcoin.” Phone support is […]
The Consumer Financial Protection Bureau (CFPB) is filing a lawsuit against the ninth-largest bank in the US for allegedly misleading and cheating customers out of billions of dollars in interest. The CFPB alleges Capital One misled consumers into believing that its product known as “360 Savings” was offering the best and the highest interest rates […]
The post Capital One Sued by US Government, Accused of Cheating Millions of Customers out of $2,000,000,000 in Interest appeared first on The Daily Hodl.
A US regulator has announced a settlement with Goldman Sachs and Apple that will send nearly $20 million to Apple customers. The Consumer Financial Protection Bureau (CFPB) says Goldman Sachs and Apple “illegally mishandled transaction disputes” from Apple Card users – accusing Apple of failing to forward a significant number of reported issues to the […]
The post $19,800,000 To Be Handed To Apple Customers in Settlement With US Regulator and Trillion-Dollar Bank appeared first on The Daily Hodl.
A US-based crypto payments firm says tens of thousands of users are exposed after a hacker gained access to an employee’s laptop. The fiat-to-crypto payment provider Transak says the security incident has affected 92,554 of its users. According to Transak, the attacker obtained unauthorized access through a “sophisticated phishing attack.” With the employee’s credentials, the […]
The post 92,554 Users Exposed As Crypto Payments Firm Reveals Attacker Accessed Names, Birth Dates, Passports, Drivers Licenses and More appeared first on The Daily Hodl.
Millions of Americans may be at risk of fraud after bad actors breached the systems of a Utah-based fintech firm. Health savings account (HSA) administrator Health Equity tells the Office of the Maine Attorney General that it suffered a security incident that “resulted in unauthorized access to or disclosure of” the sensitive data of 4.3 […]
The post 4,300,000 Americans Exposed As Savings Account Data Breach Leaks Customers’ Names, Addresses and Social Security Numbers appeared first on The Daily Hodl.
An infamous hacker group says it’s behind a breach at one of the world’s largest banks. The notorious group ShinyHunters says it’s responsible for a new data breach at Santander, claiming personal information from 30 million customers is now for sale. The group says the data will be sold one time to one bidder, for […]
The post 30,000,000 Customers’ Data Allegedly Exposed and on Sale After Trillion-Dollar Bank Suffers Massive Data Breach: Report appeared first on The Daily Hodl.
The now-defunct crypto lender Blockfi is officially shutting down the firm’s web portal this month according to an update from the firm. Blockfi said that it has partnered with Coinbase to help facilitate the execution of withdrawals to eligible Blockfi customers. Blockfi Collaborates With Coinbase for Withdrawals, Plans to Shut Down Web Portal After the […]
CFTC Commissioner Kristin Johnson’s comments came after separate lawsuits from the CFTC and FTC were filed against Voyager and its former CEO Stephen Ehrlich.
A commissioner for the United States Commodity Futures Trading Commission (CFTC) has slammed Voyager Digital for its mistakes that eventually led to the loss of billions of dollars of customer funds.
Statement of @CFTCjohnson regarding @cftc's charges against Voyager's chief executive officer. Learn more: https://t.co/OiBvOoCuV6
— CFTC (@CFTC) October 12, 2023
In an Oct. 12 statement, Commissioner Kristin Johnson took aim at Voyager for misleading practices, ignoring warning signs, and “bare-bones due diligence,” which failed to protect customers.
“Because of Voyager’s failures, the company became no better than a house of cards.”
The commodities said Voyager turned a blind eye to what its subsidiary investment firms were doing with its own customer funds:
“It is astounding that Voyager failed to exert pressure on the firms where it invested its customers' assets."
“Instead of demanding that investment firms that received customer assets offer greater levels of transparency, Voyager shirked the long-established expectations for custodians and simply dispatched customer funds with little effort to preserve the same," she added.
Johnson’s comments came after the regulator, along with the Federal Trade Commission, filed parallel lawsuits against Voyager’s former CEO Stephen Ehrlich on Oct. 12.
The CFTC lawsuit alleges Ehrlich and Voyager conducted fraud and “registration failures” over its platform and its “unregistered commodity pool”.
It has been frustrating watching lots of obvious malfeasance happening in crypto land and enforcement actions only target low-rent relatively tiny scam operations while the industry was building industrial scale predation machines.
— Patrick McKenzie (@patio11) October 12, 2023
This is not that pattern!
The FTC, on the other hand, reached a proposed settlement with Voyager, banning the firm from offering, marketing, or promoting any product or service that could be used to deposit, exchange, invest, or withdraw any assets, according to an Oct. 12 statement.
Voyager and its affiliates agreed to a judgment of $1.65 billion, which will go toward repaying customers in the bankruptcy proceedings.
Meanwhile, a separate Oct. 12 statement from CFTC Commissioner Caroline Pham said the regulator will continue to pursue action against cryptocurrency firms that misuse customer funds:
“There is a significant difference between managing investor money for the purpose of trading derivatives, and taking deposits and providing loans to others. Without financing and consumer credit, our economy would grind to a halt.”
Related: CFTC issues $54M default judgment against trader in crypto fraud scheme
However, Pham thinks the CFTC may have stepped outside the bounds of its authority in interpreting what constitutes a commodity pool operator:
“Such an interpretation is an overreach beyond our statutory authority and would disrupt well-established legal and regulatory frameworks for lending to institutions and consumer finance.”
On Sept. 7, Pham called for the CFTC to establish a cryptocurrency regulatory pilot program which would address the risks retail investors face.
Voyager filed for Chapter 11 bankruptcy in July 2022 where it indicated that it may owe anywhere between $1 billion to $10 billion in assets to more than 100,000 creditors.
The cryptocurrency brokerage firm opened withdrawals for customers in June.
Magazine: Crypto regulation: Does SEC Chair Gary Gensler have the final say?
