Lancashire Police Recover £28m in Bitcoin Fraud
In a significant crackdown on cryptocurrency fraud, Lancashire police have seized assets worth £28 million (US$34 million) from an international gang exploiting vulnerabilities in an Australian crypto exchange. According to Crypto.news, the investigation focused on James Parker from Blackpool who discovered this flaw back in 2017. Over three months, Parker and his associates managed to steal over £20 million through credits obtained via the security loophole.
The operation's proceeds were laundered with assistance from Stephen Boys of Clayton-le-Moors, infamously nicknamed “Rodney” after a character from "Only Fools and Horses." The lavish lifestyle funded by their illegal activities included distributing £5,000 gift cards randomly and purchasing cars for pub acquaintances. Despite Parker’s death before prosecution could occur, his co-conspirators faced justice earlier this year. Notably, Boys was sentenced to six years imprisonment while others received varying sentences based on involvement levels.
Coinbase Advocates for Strategic Bitcoin Reserve
Ahead of Donald Trump’s second inauguration as President of the United States next week, Coinbase has publicly endorsed establishing a U.S.-based strategic bitcoin reserve. As reported by Axios Newsletters, CEO Brian Armstrong shared these views within a comprehensive blog post discussing economic freedom strategies aimed at policymakers worldwide.
This marks Coinbase's first explicit support towards creating such reserves amidst growing interest surrounding digital currencies globally—especially given Trump's recent pro-crypto stance during election campaigns promising favorable regulations benefiting industry growth domestically alongside potential appointments like David Sacks leading advisory councils dedicated solely toward developing clear guidelines around cryptocurrencies’ future governance structures nationwide under new administration policies.
Sources:
- Lancashire police recover £28m in Bitcoin fraud involving Australian crypto exchange
- Coinbase endorses strategic bitcoin reserve ahead of inauguration
- Tax Season 2025: What Forms To Expect From Crypto Exchanges
- FDUSD on Solana Makes It to Binance, Zero Fees on Deposits and Withdrawals
- Wintermute Predicts US Bitcoin Reserve Consultations Will Spark Global Crypto Race
- Bitcoin soars past $100,000 ahead of possible Trump early action on cryptocurrency
