By William Janes ( September 23, 2025, 2:12 PM BST) — Five people have been arrested on suspicion of carrying out a €100 million ($118 million) cryptocurrency fraud in a joint international operation by law enforcement agencies across Europe, a European Union law authority said Tuesday….
Crypto
Winklevoss twins, Genesis target of SEC crypto crackdown

NEW YORK (AP) — The Securities and Alternate Fee went after two distinguished corporations within the crypto group, alleging that Genesis International Capital and the crypto trade Gemini had been promoting unregistered securities by way of a preferred program that was supposed to present excessive curiosity funds on crypto deposits.
The SEC’s lawsuit on Thursday towards Gemini, which is run by Tyler and Cameron Winklevoss who’re typically higher identified for being the disputed creators of Fb, and Genesis is a part of a broader cryptocurrency crackdown by a number of U.S. authorities companies after crypto costs fell sharply final 12 months, exposing largely retail traders to billions of {dollars} in losses.
Tyler Winklevoss referred to as the swimsuit a “parking ticket” and vowed to defend the corporate.
The lawsuit includes a program referred to as Gemini Earn, which allowed people to deposit their cryptocurrencies in flip for a excessive rate of interest, as a lot as 4.29%. Gemini and Genesis would then lend out these cryptocurrencies to different traders.
However the collapse of crypto costs final 12 months has put most of the crypto lenders out of enterprise, into chapter 11, or triggered them to dramatically pull again on their enterprise. Voyager Digital, Celsius and FTX — whose founder was criminally charged final month — had been all platforms that did numerous types of deposit-and-lending operations.
The SEC alleges that Gemini Earn was successfully a suggestion and sale of securities and this system ought to have been registered with U.S. authorities. Additional, as crypto costs collapsed, Genesis needed to freeze withdrawals from its Gemini Earn program and prospects at the moment are out round $900 million, in line with the SEC.
The SEC underneath Chairman Gary Gensler has argued for a while that they’ve the authorized authority to manage crypto, and so they have largely used their lawsuit and enforcement powers to take action.
“Right now’s expenses construct on earlier actions to clarify to {the marketplace} and the investing public that crypto lending platforms and different intermediaries must adjust to our time-tested securities legal guidelines,” Gensler stated in an announcement.
The cryptocurrency trade, its lobbyists and pals in Congress have pushed again laborious on the SEC, and have largely been pushing for the smaller Commodity Futures Buying and selling Fee to supervise crypto.
Tyler Winklevoss stated on Twitter that the Gemini Earn program was regulated by the New York Division of Monetary Providers and so they had been in conversations with the SEC about Earn for greater than a year-and-a-half. He stated the SEC didn’t have points with the Earn program till withdrawals had been paused in November through the aftermath of the FTX chapter.
“We look ahead to defending ourselves towards this manufactured parking ticket,” Winklevoss stated. “And we’ll ensure this doesn’t distract us from the vital restoration work we’re doing.”

Crypto
Ripple Highlights Transatlantic Initiative as Blueprint for Global Crypto Regulation

Crypto
Texas brothers charged in cryptocurrency kidnapping, robbery in MN

GRANT, Minn. (FOX 9) – A Washington County family was reportedly kidnapped and held hostage at gunpoint for hours by two Texas brothers who ultimately took more than $72,000 in cryptocurrency.
Raymond Christian Garcia, 23, and Isiah Angelo Garcia, 24, were each charged via warrant with three counts of kidnapping, three counts of first-degree burglary, and one count of first-degree aggravated robbery for their alleged roles.
The incident led to the Washington County Sheriff’s Office issued a shelter in place order while they searched for the suspects. The incident ultimately led to the cancellation of a high school homecoming football game in Mahtomedi.
Home invasion and cryptocurrency theft
The backstory:
According to the criminal complaint, a 911 call was received at approximately 4:45 p.m. on Sept. 19 from someone in Grant, Minnesota, stating that he and his family had been kidnapped and were being held hostage at gunpoint in their home.
The complaint details that on Sept. 19, a man was taking out the garbage at around 7:45 a.m. when the armed brothers allegedly forced him back into the garage and bound his hands with zip ties. The men then woke up the two other people in the house, also binding them.
Raymond Garcia is accused of holding the 911 caller and his mother hostage for nine hours while armed with an AR-15-style rifle. Police said the upstairs bedroom door was tied shut with wire and needed to be cut in order to free them, according to the complaint.
Meanwhile, Isiah Garcia, armed with a shotgun, allegedly forced the man to log into his cryptocurrency wallet and transfer over $36,000 to an unknown account, charges state. After learning of a separate crypto wallet kept at the family cabin in Jacobson, Minnesota, Isiah Garcia allegedly forced the man to drive three hours and transfer the additional cryptocurrency, valued at over $36,000.
According to the complaint, the victim believed some of his crypto account information had been leaked during a data breach. The charges note that the men were frequently on the phone with an “unknown third party who directed [them] to transfer the cryptocurrency.”
The victim inside the house called 911, and multiple squad cars passed Isiah Garcia as they were driving back from the cabin. Isiah Garcia then turned the truck around, parked, and fled on foot before discarding the shotgun in a nearby field, charges allege.
Raymond Garcia was seen on camera running out the back door of the home. During a search of the area, authorities recovered an AR-15 rifle in a suitcase located in the tree line behind the home, charges said.
Brothers arrested in Texas
The investigation:
According to the complaint, Isiah Garcia rented a car near Houston, Texas, on Sept. 16 and drove to Minnesota. The vehicle’s GPS data placed the car near the victim’s home and a motel in Roseville. On Sept. 21, Isiah Garcia was taken into custody while driving the same rental car in Texas.
Raymond Garcia went to authorities on Sept. 22 to report that his AR-15 had been stolen in Waller, Texas. During a search of the brother’s home in the Waller area, authorities reportedly found a firearm box with a serial number matching the AR-15 recovered in Minnesota.
At the time the criminal complaints were filed, both men were in custody in Texas.
The Source: This story uses previous FOX 9 reporting and information from a Washington County criminal complaint.
Crypto
EU Enforcers Arrest 5 Over €100M Cryptocurrency Scam – Law360

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