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US Government Sending $2,400,000,000 in ‘Special Payments’ To Americans – With One Million People Expected To Receive Cash

US Government Sending ,400,000,000 in ‘Special Payments’ To Americans – With One Million People Expected To Receive Cash

About a million Americans are expected to receive their piece of an imminent $2.4 billion payout from the Internal Revenue Service (IRS). The agency says it will be sending the funds by the end of the month to eligible individuals who did not claim the Recovery Rebate Credit, a refundable credit for taxpayers who did […]

The post US Government Sending $2,400,000,000 in ‘Special Payments’ To Americans – With One Million People Expected To Receive Cash appeared first on The Daily Hodl.

The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why

$1,900,000 To Be Handed To Victims of ‘Free Credit Report’ Scam That Conned 42,849 People

,900,000 To Be Handed To Victims of ‘Free Credit Report’ Scam That Conned 42,849 People

The Federal Trade Commission (FTC) is preparing to send a total of $1.9 million to victims of an alleged free credit report scam. The FTC says 42,849 victims will receive their share of the funds, stemming from a lawsuit that the agency filed against Credit Bureau Center back in 2017. According to the FTC, Credit […]

The post $1,900,000 To Be Handed To Victims of ‘Free Credit Report’ Scam That Conned 42,849 People appeared first on The Daily Hodl.

The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why

Revolut prevents $13.5M of ‘potential fraud transactions’ in crypto

Revolut has been under fire as fraud complaints piled up in 2024, but the company has insisted it saved hundreds of millions in “potential fraudulent transfers.”

Cryptocurrency-friendly neobank Revolut said it has prevented millions of dollars in potential customer losses from fraudulent crypto transfers over the past three months

Revolut said on Oct. 7 that it blocked up to $13.5 million worth of “potentially fraudulent crypto transfers” between June 1 and Sept. 1, 2024, according to an announcement sent to Cointelegraph.

“The company’s proactive approach has seen it significantly enhance its crypto-specific security measures recently, which has led to an increase in the amount of potential fraud it has prevented,” Revolut said.

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The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why

Judge Urged to Jail Man Who Spent $10M Mistakenly Sent by Crypto.com

Judge Urged to Jail Man Who Spent M Mistakenly Sent by Crypto.comProsecutors are urging a judge to imprison Jatinder Singh, who spent millions of dollars accidentally refunded by Crypto.com. The issue began when Singh attempted to deposit $100 into his Crypto.com account in May 2021. Due to a discrepancy between account names, the transaction was rejected, but an error by a Bulgarian employee led to a […]

The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why

Winklevoss twins refunded for exceeding Bitcoin donation limit to Trump

It is uncertain whether the Trump 47 Committee, returned the amount in Bitcoin or converted it to its equivalent value in cash.

The billionaire Winklevoss twins, founders of cryptocurrency company Gemini, were refunded after their bitcoin donations to Donald Trump’s presidential campaign exceeded the maximum amount allowed under federal law.

According to a Bloomberg report, the portion above the legal limit was refunded to the donors, citing a campaign official who spoke on condition of anonymity to discuss the matter.

The twins each announced donations totaling $2 million in Bitcoin in posts on social media site X on Thursday to the presumptive Republican nominee, which would exceed the maximum $844,600 that the Trump committee can legally accept per person.

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The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why

ZKasino gives investors 72-hour window to get back deposited ETH

ZKasino denied it tried to make off with $33 million of investor funds in April and has now opened up a short refund window.

Blockchain-based gambling project ZKasino says it has initiated a 72-hour “2-step bridge back process” to return funds to investors a month after it was alleged to have done a $33 million “rug pull.” 

“We are now initiating the 2-step bridge back process in which bridgers can sign up and bridge back their ETH at a 1:1 ratio,” ZKasino said in a May 28 Medium post, adding the team hasn’t given up on the project.

“The ZKasino team is still working hard to make the project successful. We again want to assure everyone that we are here to deliver and continue our best efforts.”

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The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why

Gala Games exploiter returns $22M from GALA token attack

On Monday, an attacker minted $200 million worth of GALA tokens but managed to sell only a portion of them. It’s just been returned.

Gala Games has received around $22 million in Ether (ETH) from the person responsible for a May 20 “security incident” where $200 million worth of Gala (GALA) tokens were minted and a small portion sold before the wallet was frozen.

On May 21, the attacker’s wallet sent back 5913.2 ETH worth $22.3 million — close to the market value of the 600 million GALA they sold a day earlier.

Gala said in a May 21 blog post that the ETH’s return came after the team’s “swift, effective response and the involvement of Federal law enforcement agencies.”

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The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why

Crypto exchange Upbit stems fake APT token flood, resumes services

The newly created fake APT token called “ClaimAPTGift.com” made its way to 400,000 Aptos wallets, and users found they were able to deposit and sell it on the exchange.

South Korea cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals again after fixing an issue that saw a scam APT token incorrectly recognized as the real deal.

On Sept. 24, Upbit abruptly halted Aptos token services after noting an “abnormal deposit attempt,” prompting an inspection of the wallet system.

The problem appears to have originated from a newly created fake APT token called “ClaimAPTGift.com” which had made its way to 400,000 Aptos wallets after its creation on Sept. 21.

The fake token was likely part of a typical token airdrop scam, in which users are airdropped tokens that contain links pointing unsuspecting users to phishing websites.

However, a reported failure by Upbit to properly verify the source code of the scam tokens led to the exchange recognizing the fake tokens as real Aptos tokens, allowing users to deposit them on Upbit and sell them for Aptos' market price, according to X user Definalist.

“It seems that during the process of reflecting $APT coin deposits, there was a failure to check the type arguments, and all same functions transfers were recognized as the same APT native token.”

This reportedly led to users being able to walk away with funds. Upbit’s customer center has reportedly started to request refunds from users who sold the fake APT tokens.

The issue has since been fixed. As of Sept. 24 at 11:00 pm local time, Upbit confirmed it has resumed deposits and withdrawals after completing the wallet inspection.

Related: Aptos token rises 11.6% after Microsoft deal to marry AI with blockchain

“The action against the abnormal deposit attempt has been completed, and there is no problem with your Aptos transaction,” it said in a statement.

It however warned that there could be delays in processing deposits and withdrawals, and possible temporary price fluctuations in the APT tokens as compared to other exchanges.

APT is currently trading at $5.31 over the last 24 hours, however, the price of APT on Upbit is around $5.56, according to CoinGecko.

Price of the Aptos token, APT. Source: CoinGecko.

Magazine: China’s blockchain satellite in space, Hong Kong’s McNuggets Metaverse: Asia Express

The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why

Crypto exchange Digital Surge emerges as a rare survivor of FTX fallout

The Australian crypto exchange lost access to $23.4 million of digital assets when FTX collapsed and FTX’s Australian subsidiary went into administration.

Australian cryptocurrency exchange Digital Surge appears to have narrowly avoided collapse, despite having millions of dollars in digital assets tied up in the now-bankrupt FTX crypto exchange.

On Jan. 24 local time, Digital Surge creditors approved a five-year bailout plan, which aims to eventually refund its 22,545 customers who had their digital assets frozen on the platform since Nov. 16, while allowing the exchange to continue operating.

The rescue plan was first floated to customers by the exchanges’ directors via email on Dec. 8, the same day the company fell into administration.

As per the “Deed of Company Arrangement,” the Australian crypto exchange will receive a 1.25 million Australian dollar ($884,543) loan from an associated business, Digico — allowing the exchange to continue trading and operating.

In a statement, administrators at KordaMentha stated that creditors would be paid over the next five years out of the exchange’s quarterly net profits.

“Customers will be repaid in cryptocurrency and fiat currency, depending on the asset composition of their individual claims,” KordaMentha said, according to a Jan. 24 report from Business News Australia.

Cointelegraph reached out to Digital Surge, which confirmed that creditors voted in favor of the rescue plan at their second meeting, on Jan. 24.

“We expect further communication will be provided to all customers as the administration process with KordaMentha progresses,” it added.

The Brisbane-based crypto exchange had been in operation since 2017 but became one of the casualties of FTX’s collapse in November, freezing withdrawals and deposits only days after FTX filed for bankruptcy and FTX Australia was placed into administration.

At the time, Digital Surge explained they had “some limited exposure to FTX” and would update customers in two weeks’ time — though that exposure was later revealed to be to the tune of around $23.4 million, according to KordaMentha.

Related: ‘There will be many more zeros’ — Kevin O'Leary on FTX-like collapses to come

The exchange has been one of the few crypto firms to form a solid plan to restart operations and avoid liquidation despite sizeable exposure to FTX.

Since November, several crypto firms, including crypto lending firms BlockFi and Genesis, have filed for Chapter 11 bankruptcy protection as a result of exposure to the fallout of FTX and market turmoil.

The United States Government Should Acquire 20% of the Bitcoin (BTC) Network, Says Michael Saylor – Here’s Why