oh look, another #fintech bankruptcy involving Evolve Bank & Trust.

some other fun places Evolve has popped up:

1. issuer of #FTX and #BlockFi debit cards (before those companies blew up and customers lost all their money)
2. #GeorgeSantos and #AndyOgles held their campaign money at Evolve
3. #Synapse bankruptcy which cost customers of a bunch of fintech "banks" like #Yotta most if not all of their money
4. Partnered with "anti-woke" fintech #GloriFi
5. Got hacked by Russia midway through Synapse bankruptcy proceedings
6. Anonymous crypto debit card issuer for #ZELF
7. Frequently found to be the bank used by #pigbutchering fraudsters
8. Sanctioned by federal reserve for #moneylaundering

The fact that Evolve has not been shut down is insane. Banking system cannot survive if these kinds of bad actors roam free like the wind.

* more on Evolve: https://fintechbusinessweekly.substack.com/p/evolves-problematic-partners-bankruptcies
* even more: https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action

#EvolveBank #EvolveBankAndTrust #finreg #Banking #uspol #AML #BaaS #Russia #putin

💰 BlockFi.com: Legit Crypto Platform or Potential Risk? 🔍
Is BlockFi.com a reliable platform for your crypto investments, or are there hidden risks? We examined user reviews, financial stability, and regulatory compliance.
🔗 Full Report: https://www.cybercriminal.com/check/blockfi.com
#BlockFi #CryptoSafety #ScamAlert #CryptoInvesting #FinancialSecurity #FraudAwareness #TradingRisks #Blockchain #CryptoNews #awareness #trendingnow

@JessTheUnstill interesting fact: the #Synapse partner bank where all these issues are stemming from, Evolve Bank & Trust, has a bunch of fun properties:

1. Issuer of the #FTX debit card
2. Used by George Santos and Andy Ogles to store campaign funds
3. Banking partner of #PrimeTrust, the Nevada crypto custody company that collapsed in 2023
4. Banking partner of #BlockFi, one of the crypto "banks" that went down with the good ship FTX.
5. Recently hacked by Russians
6. Recently hit with a major fed enforcement action

Also Synapse was backed in a big way by Trump loving #a16z and Marc Andreessen.

Some more details:

https://fintechbusinessweekly.substack.com/p/evolve-hit-with-fed-enforcement-action

#marcandreessen #EvolveBank #EvolvebankAndTrust #crypto #cryptocurrency #Bitcoin #ethereum #BTC

🚨 New BlockFi Phishing Alert 🚨

Beware of phishing emails redirecting to a fraudulent #BlockFi domain, attempting to gain access to users' private keys by asking them to connect their wallets to withdraw funds. 🔒🚫 #Phishing #Crypto @CoinbaseSupport

The biggest financial frauds ever – from Sam Bankman-Fried to Bernie Madoff
https://qz.com/financial-frauds-sam-bankman-fried-bernie-madoff-enron-1851367680
#ycombinator #Sam_Bankman_Fried #Bernie_Madoff #Bankman #Business #Finance #Corporate_crime #Ramesh_Balwani #MCI_Inc #BlockFi #Verizon #Enron #Joseph_Bankman #Scott_Sullivan #Cryptocurrency_exchange #WorldCom #AMERICAN_TELECOM #Kenneth_Lay #Bernard_Ebbers #Accounting_scandals #Netflix #Elizabeth_Holmes #Cynthia_Cooper #Theranos #Law #Crime #FTX #Houston_Natural_Gas #Quartz

#BlockFi reaches agreement with bankrupt #FTX and Alameda, potentially recovering $874.5 million. #crypto

Settlement simplifies #bankruptcy proceedings, prioritizes client recoveries, but full repayment to customers remains uncertain.
https://coinpedia.org/news/blockfi-nears-full-customer-repayment-with-874-5-million-ftx-and-alameda-claim-agreement/

BlockFi Inc.'s bankruptcy aftermath: Four Big Law firms set to receive a total of $40 million in fees for their roles in the Chapter 11 case liquidation plan, approved in October. #BlockFi #Crypto

https://www.tronweekly.com/blockfi-collapse-costs-big-law-firms-40-million/

El tribunal da luz verde a las conversaciones para llegar a un acuerdo entre #BlockFi y #FTX

Un tribunal estadounidense ha abierto la puerta para que #BlockFi continúe con sus esfuerzos para recuperar mil millones de dólares en pérdidas de #ftx
https://x.com/ismeidy/status/1724576968698405000?s=20

#Voyager continues their solid bankruptcy management process. It's the little details of the team that runs winding down to maximize recovery really stands out. I always compare them to #BlockFi who are more interested to pay themselves out as much as possible in the process and recovery might be of secondary importance.

#BlockFi emerges from #bankruptcy, aims to repay creditors, and faces complexities due to #FTX and Three Arrows Capital bankruptcy proceedings.👇
https://coinpedia.org/news/blockfi-bounces-back-exits-chapter-11-bankruptcy/

💥💥💥EXCLUSIVA💥💥💥
El director ejecutivo de #BlockFi, Zac Prince, culpó al colapsado #exchange de cifrado #FTX y a su empresa comercial hermana, #AlamedaResearch, por la quiebra de su propia empresa mientras testificaba ante el tribunal en el juicio penal de Sam Bankman-Fried, afirmando que nunca habría repartido fondos si hubiera sabido que había balances falsos. siendo utilizado.
https://x.com/ismeidy/status/1712920940609150995?s=20

📬 Datenleck bei Kroll nach folgenreichem SIM-Swapping-Angriff
#Cyberangriffe #Datenschutz #BartStephens #BlockchainCapital #BlockFi #FTX #Genesis #Kroll #Phishing #SIMSwapping #TMobile https://tarnkappe.info/artikel/cyberangriff/datenleck-bei-kroll-nach-folgenreichem-sim-swapping-angriff-280041.html

It's concerning to hear that customer data was compromised due to a SIM swap. #Cybersecurity #DataProtection #CustomerPrivacy #Kroll #FTX #Genesis #BlockFi http://www.techmeme.com/230825/p20#a230825p20

Kroll Employee SIM-Swapped for Crypto Investor Data

https://krebsonsecurity.com/2023/08/kroll-employee-sim-swapped-for-crypto-investor-data/

#ALittleSunshine #LatestWarnings #DataBreaches #Krollbreach #SIMswapping #T-Mobile #BlockFi #FTX

Kroll Employee SIM-Swapped for Crypto Investor Data https://krebsonsecurity.com/2023/08/kroll-employee-sim-swapped-for-crypto-investor-data/ #ALittleSunshine #LatestWarnings #DataBreaches #Krollbreach #SIMswapping #T-Mobile #BlockFi #FTX

Kroll Employee SIM-Swapped for Crypto Investor Data - Security consulting giant Kroll disclosed today that a SIM-swapping attack against... https://krebsonsecurity.com/2023/08/kroll-employee-sim-swapped-for-crypto-investor-data/ #alittlesunshine #latestwarnings #databreaches #krollbreach #simswapping #t-mobile #blockfi #ftx

Cybersecurity Alert🚨 The claims agent handling FTX's bankruptcy case & #BlockFi faced a security breach, exposing non-sensitive customer data. #FTX swiftly responded, assuring no account passwords were compromised & their systems are secure. #Crypto
https://www.tronweekly.com/ftx-blockfi-affected-kroll-cybersecurity/

Bankruptcy agent #Kroll faced a #cyber attack via an employee's phone, leaking non-sensitive customer data from #FTX and #BlockFi.

Want to Know What lessons can be learned from this breach about the potential weaknesses even in major players' security?

https://coinpedia.org/news/kroll-cybersecurity-incident-affects-ftx-and-blockfi-customer-data-in-jeopardy/

I swear, #BlockFi liquidation is a textbook carnival. Look at the latest update:

"On Wednesday, August 23, 2023, one of BlockFi’s third-party vendors, Kroll, confirmed that an unauthorized third party gained access to a portion of its client data, including certain BlockFi client data housed on its platform."

Sure, not blockfi platform but yet their case data has to be accessed in unauthorized manner. Anyone that's connected to blockfi should be blocked from doing any business again.

I have some pocket change hanging around #BlockFi account. They just opened up withdrawals. I think these $9 are never making it back :)