• Do Kwon converted millions of illicit funds to Bitcoin.
• Robinhood to pay $10.2M in penalties for operational and technical errors.
• Mt Gox creditors repayment window now open.
Do Kwon Converted Millions in Illicit Funds to BTC
South Korean prosecutors identified $314.2 million in illicit assets associated with Terraform Labs co-founder Do Kwon and his associates, out of which $69 million is directly linked to Kwon. He, however, converted most of the illicit funds into Bitcoin using overseas crypto exchanges, so the assets tied to him are not recoverable or under South Korean jurisdiction.
Robinhood Paying $10.2M Penalties
Major US online trading platform Robinhood will pay up to $10.2 million in penalties for operational and technical failures that harmed main street investors, following a North American Securities Administrators Association (NASAA) investigation into the platform outages in March 2020. The DFPI joined the multi-state settlement that followed this investigation.
Mt Gox Creditors Repayment Window Now Open
The deadline for Mt Gox creditors to provide their repayment information has passed, opening the window for repayments to be made according to an April 7 letter from the exchange Trustee. The Trustee will coordinate with several financial institutions, including crypto exchanges, which will receive and distribute the payments to creditors though it may take some time before repayments commence due to necessary preparations being made first.
Thailand Prime Minister Candidate Promises Digital Currency Stimulus Package
A candidate for Thailand’s prime minister position promised every citizen 10,000 Thai Baht ($300) in digital currency if his party forms a government following a general election in May as part of a basic-income style economic stimulus package via “digital currency”.
ZkSync Finds Solution To Frozen Smart Contract On Era Network
ZkSync found an elegant solution to unlock a frozen contract on its Era network after a team called Gemholic reached out for support requiring minimal changes in the gas metering of the protocol but allowing full recovery of ETH 921 stuck in a smart contract used by this team