$830M fraud arrests, Nobody’s 3,000% premium, Binance snitches get riches

Stephen Chow's "Nobody" NFT Collection: Renowned Hong Kong director Stephen Chow, famous for films like Kung Fu Hustle, has launched an NFT collection named "Nobody." The collection has gained significant traction, with over 10,609 Ether traded since its launch. One notable purchase by Ray Chan, co-founder of 9GAG, saw a premium of 3,155% to the floor price.

UBS Tokenizes Xiaomi Call Warrant: UBS, through its Hong Kong subsidiary, has tokenized a call warrant option on shares of Xiaomi using Ethereum. The tokenized financial derivative was sold to Hong Kong cryptocurrency exchange OSL. This move aims to enhance transparency, reduce transaction fees, and streamline settlement processes in trading.

Arrests in $830M Crypto Scam: Three executives associated with South Korean crypto lender Haru Invest, including CEO Hyung-soo Lee, have been arrested for alleged fraud. They are accused of failing to return over $830 million worth of digital assets to more than 16,000 customers. Haru Invest suspended withdrawals and deposits in June 2023, citing fraudulent information provided by a consignment operator.

These developments highlight the growing significance of NFTs, tokenization in traditional finance, and the challenges posed by fraud and regulatory issues in the cryptocurrency industry.

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