Co-founder of NFT platform Blockparty charged with fraud
The Hindu
The case comes amid increased uncertainty in the cryptocurrency industry, which is in the midst of a downturn made worse by the collapse of crypto exchange FTX.
The former chief technology officer of Blockparty was arrested on Wednesday after U.S. prosecutors alleged he stole more than $1 million in cash and cryptocurrency from the company, which operates a marketplace for non-fungible tokens.
(For insights on emerging themes at the intersection of technology, business and policy, subscribe to our tech newsletter Today’s Cache.)
Rikesh Thapa, 28, of San Diego, California, co-founded the company in 2017 and left it in 2019 after refusing to return $1 million in company funds he agreed to hold in his bank account while Blockparty looked for another bank, prosecutors said. Thapa, who was arrested in Southern California, faces one count of wire fraud.
The case comes amid increased uncertainty in the cryptocurrency industry, which is in the midst of a downturn made worse by the collapse of crypto exchange FTX.
The federal public defender's office in San Diego, which typically represents defendants after their arrest, did not immediately respond to a request for comment.
A representative for Blockparty did not respond to a similar request.
Prosecutors allege in the indictment unsealed in Manhattan federal court on Wednesday that Thapa took $1 million from the company for "safekeeping" while it looked to diversify its banking options in case its main bank stopped doing business with crypto firms.
For most patients with TB who are severely underweight, nutritional support is an essential and not optional part of treatment
Family of custodial death victims demands harsh punishment for nine convicted policemen to prevent future abuses of power.
Rajinikanth refutes TVK leader's claims about DMK threats preventing his political entry, expressing gratitude to supportive political figures.
CM announces Cabinet Sub-Committee on Musi rejuvenation; rehabilitation for all displaced
Ramanathapuram identifies 145 polling stations as sensitive, ensuring security with paramilitary forces ahead of assembly elections, says DEO.
BJP Puducherry president V. P Ramalingam files nomination for Raj Bhavan, joined by Union Minister Mandaviya and Khushbu Sundar.
History-sheeter 'Thoppai' Ganesh shot dead by police in Chennai after attacking officers during attempted escape.
The government plans to amend the FCRA, introducing new regulations for NGO asset management and accountability for key functionaries.
The draft policy for “Responsible Digital Use Among Students”, released on Monday by the Department of Health and Family Welfare, has recommended that parents set structured routines with clear screen-time rules and prioritise privacy, safety, and open conversation with children on digital well-being.
Police Observer Sushant Kumar Saxena conducts surprise inspection at Shencottai police station, reviewing warrants and security arrangements ahead of elections.
Andhra Pradesh government to launch key projects in April, focusing on industrial growth and infrastructure development, says Nara Lokesh.
Lok Sabha refers the Corporate Laws (Amendment) Bill to a JPC amid opposition concerns over CSR provisions dilution.
SHG members in Kanniyakumari use snakes and ladders to raise election awareness and boost voter turnout.