Crypto News
Man in Las Vegas Faces Charges for $45M Crypto Fraud on CoinDeal Exchange

Authorities today hit a Las Vegas man with charges related to the CoinDeal crypto fraud scheme. The U.S. Department of Justice alleged on Friday that 57-year-old Bryan Lee worked with others to defraud more than 10,000 investors out of $45 million. Investigators say CoinDeal was a blockchain technology investment scheme which involved a new cryptocurrency and the metaverse. It promised investors “extremely high” returns, according to the DOJ, because wealthy investors were set to get involved. At the time, a number of people were charged for violating securities laws.
Today, the DOJ announced new criminal charges, alleging that Lee and his co-worker Neil Chandran misappropriated millions of dollars of investor funds and spent it on luxury cars and real estate. The charges against Lee are: one count of conspiracy, two counts of mail fraud, one count of wire fraud, and three counts of engaging in monetary transactions in criminally derived property. Chandran was arrested last year; another defendant, Michael Glaspie, has pleaded guilty to one count of wire fraud and is scheduled to be sentenced on June 16.
Lee will appear in a federal court today and faces up to 20 years in prison for each of the wire fraud, mail fraud, and conspiracy counts, and up to 10 years in prison for each count of engaging in unlawful monetary transactions, the DOJ added—a total of 100 years behind bars.
This news is a reminder of the potential dangers of investing in cryptocurrency and other blockchain technology investments. The U.S. Department of Justice is investigating the case and has brought criminal charges against Bryan Lee and others for their alleged participation in the CoinDeal investment fraud scheme, which affected more than 10,000 investors and resulted in a reported $45 million in losses. Lee faces up to 100 years in prison if found guilty of all charges.
#CoinDeal #CryptoFraud #InvestmentFraud #DOJInvestigation
You can read more about this topic here: Decrypt: Las Vegas Man Charged in CoinDeal $45M Crypto Fraud Case
The post Man in Las Vegas Faces Charges for $45M Crypto Fraud on CoinDeal Exchange first appeared on Byte Syze Crypto.
Crypto News
Deepfake Dilemma: The Alarming Spread of AI-Generated Intimate Content

Ever felt like we’re skimming across the surface of a digital lake, unaware of the profound depths beneath? Well, it turns out the waters are getting murkier, especially in the realm of deepfakes. A stark report by Graphika has surfaced, revealing a troubling surge in ‘AI undressing’ – the act of stripping away clothing from images with a few clicks and a dash of AI.
This isn’t just a fleeting concern; it’s a full-blown crisis ballooning out of control. The case of Twitch streamer Atrioc, who inadvertently exposed his consumption of deepfake content involving friends, was merely a glimpse of a much darker picture. Graphika’s figures are jaw-dropping: over 32,000 instances of non-consensual intimate imagery (NCII) referenced online this year, a 2,408% increase from 2022.
What used to be hidden in the murky corners of the internet has now become a nefarious cottage industry. These AI tools don’t just threaten to fabricate adult content; they open the floodgates to harassment, extortion, and the unspeakable – child sexual abuse material.
The response? Legal battles by high-profile figures like Scarlett Johansson aim to stem the tide, but for many, particularly in the adult industry, their plight remains unheard. And with AI’s relentless march forward, distinguishing between the real and the artificial becomes a herculean task for law enforcement.
There’s a glimmer of hope, though. Individuals like Atrioc are taking steps to rectify past mistakes, assisting those affected. But it’s a small beacon in the vast, stormy ocean of deepfake content, which threatens to ‘overwhelm’ the internet, as the Internet Watch Foundation warns.
So, as we tread these digital waters, let’s be mindful of the unseen currents beneath, shaping an internet that’s becoming increasingly difficult to navigate with confidence.
#DeepfakeAlert #AIEthics #OnlineSafety #CyberSecurity
The post Deepfake Dilemma: The Alarming Spread of AI-Generated Intimate Content first appeared on Byte Syze Crypto.
Crypto News
Solana’s Soaring Success: A Tale of NFTs Outshining Ethereum and Meme Coins Breaking Records

Ever found yourself wondering if the crypto rollercoaster ever slows down? Well, for Solana, it’s full steam ahead, with SOL and BONK leading a charge that’s turning heads and wallets in the crypto realm.
Solana’s native coin, SOL, hit a triumphant 19-month high early Friday, touching $73.85 and marking a substantial recovery from its late 2022 lows. As of the latest check, it’s sitting pretty at just over $73, up 13% in 24 hours, according to CoinGecko.
Not to be outdone, Solana’s meme coin sweetheart BONK is on an astronomical ascent, reaching a new zenith of $0.00001314. The price may have slightly dipped since, but with a 24% increase in a day and a 982% surge in a month, it’s clear that BONK is having its moment.
But there’s more—Solana is also stealing the spotlight in the NFT marketplace. With trading volumes soaring above Ethereum’s, projects like Mad Lads and Tensorians are seeing their prices multiply. In just 24 hours, Solana NFTs notched up $14.8 million in trades, edging out Ethereum’s $13.9 million.
So what’s fuelling this frenzy? A combination of factors, including the Jito airdrop’s $225 million value and a 92% increase in trading volume, are propelling Solana to the forefront of the crypto conversation.
It’s a narrative of resilience, innovation, and perhaps a dash of that old crypto magic—proving again that in this digital Wild West, fortunes can turn on a dime.
#SolanaSurge #CryptoNews #NFTBoom #BONKcoin
The post Solana’s Soaring Success: A Tale of NFTs Outshining Ethereum and Meme Coins Breaking Records first appeared on Byte Syze Crypto.
Crypto News
AI Hype vs Reality: A Sobering Perspective from Industry Leaders

Ever felt like you’re watching a rerun in the world of tech trends? The latest episode in this saga is all about artificial intelligence (AI), with 2023 witnessing an explosion in AI chatter and applications that promise to either revolutionise our lives or spell doom for humanity. But as the AI narrative dominates headlines, there’s a voice of moderation cutting through the noise.
OpenAI’s COO, Brad Lightcap, recently expressed a thought-provoking stance in a CNBC interview. His view? The transformative business impact of AI is overhyped. CEOs won’t find a magic AI wand to skyrocket revenues or slash costs overnight. Yann LeCun of Meta concurs, likening present-day AI to a pet’s intelligence. Even regulators, like CFTC’s Christy Goldsmith Romero, urge a balanced approach to AI, warning against overreliance on AI models in financial markets.
While some tout AI as an economic game-changer, others fear its existential threats. The reality, according to industry experts like Lightcap, is more grounded. AI won’t replace real work and creativity; it’s a tool to augment human capabilities, perhaps best seen as a digital sidekick or research assistant. It’s an incremental journey towards artificial general intelligence (AGI), not a business revolution.
For crypto enthusiasts and professionals dipping their toes into AI, it’s a reminder to temper expectations with practical insights. As we navigate the AI narrative, it’s crucial to discern the hype from the helpful and to understand AI’s role in enhancing, not substituting, the human touch in innovation.
#AI #ArtificialIntelligence #TechTrends #Crypto
The post AI Hype vs Reality: A Sobering Perspective from Industry Leaders first appeared on Byte Syze Crypto.
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