Germany seizes 13 crypto machines, institutional investors increase stake in Bitcoin ETF by 14%
Germany’s Federal Financial Supervisory Authority (BaFin) announced the seizure of 13 crypto machines that were operating without the necessary license. In the official statements it is stated that these devices operated without BaFin’s permission, which posed a risk of money laundering.
The operation was carried out together with the police and the Bundesbank, in coordination with the Federal Criminal Police Office. 60 people were involved in the investigation, and about 250,000 euros were seized.
BaFin emphasizes that illegal operators are subject to criminal prosecution by the police and prosecutors, with the possibility of receiving a sentence of up to 5 years in prison. The regulator added that crypto machines handling transactions above €10,000 must verify the customer’s identity to prevent money laundering.
Detention in Montenegro: the co-founder of the crypto-pyramid FutureNet is in custody
In Montenegro, law enforcement officers detained Roman Zemyan, the 51-year-old co-founder of the FutureNet crypto-pyramid. This information reported mass media
Zemyan was discovered under a different name in Podgorica. His arrest was the result of an international operation overseen by Interpol.
Zemyan is suspected of financial fraud and money laundering. Earlier, South Korea and Poland issued an international arrest warrant for him.
The FutureNet project, co-founded by Zemyan together with Stefan Morgenstern, started its activities in 2014. The platform quickly gained popularity in Poland and South Korea, but was later exposed as a pyramid scheme. According to the police, more than 2,000 people were injured, and the total damage is estimated at $21 million.
Morgenstern has been detained before, first in Greece and later in Albania in 2023.
Earthly, for data edition of Vijesti, pleaded not guilty, saying that his company acted within the law and had nothing to do with illegal activities.
His further fate will be decided by the court, probably Zemyan will be extradited.
Institutional Bitcoin ETF Growth: Up 14% QoQ – Bitwise
According to a report by Bitwise, the number of institutional investors holding spot bitcoin ETFs increased by 14% in the second quarter of 2024, according to CoinDesk.
The share of these investors in the total amount of assets under management also increased, from 18.74% to 21.15%. Bitwise reported that as of the end of the second quarter, institutional investors held $11 billion worth of assets in bitcoin ETFs.
Bitwise Chief Investment Officer Matt Hogan noted:
“If institutional investors buy bitcoin during price volatility, that’s a great signal. Imagine what could happen in a bull market”.
The report also notes that Bitcoin ETFs have been adopted by institutions at a record pace.
“Typically, ETFs gain momentum gradually, but inflows into Bitcoin ETFs are expected to be larger in 2025 than in 2024, and even larger in 2026,” the report said.
Trader losses due to phishing attack: more than $55 million in DAI
According to the report experts CertiK, a major cryptocurrency holder, lost $55.4 million in DAI stablecoins after a phishing attack.
The attacker used the Inferno Drainer service to access an external account (EOA) and transfer ownership of DSProxy smart contract #166,776 to a controlled address.
The attacker then gained access to Maker’s vault and issued DAI stablecoins using other cryptoassets as collateral. Using his control over the vault, he withdrew the stablecoins, and the further movement of the assets remains unknown.
