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lyn

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first_img Goldman Sachs $100 billion Treasury Fund FTIXX connects to Lynq network

Goldman Sachs has connected its approximately $100 billion government bond fund FTIXX to the digital asset settlement network Lynq, providing a new subscription channel for institutional-level crypto companies. The fund will be listed on Lynq, with trading handled by tZERO Securities, a broker-dealer registered with the U.S. Securities and Exchange Commission. This is the first external fund introduced to the Lynq network, which previously only had a single investment product.Unlike most blockchain-based fund products on Wall Street, FTIXX has not been tokenized. BlackRock's BUIDL is a tokenized fund, and Franklin Templeton offers tokenized shares of money market funds through BENJI, while Goldman Sachs retains the traditional fund format of FTIXX, with Lynq opening new access channels for digital asset companies. Lynq CEO Jerald David stated that there is a convergence occurring between traditional market participants and digital asset market participants.For institutions using Lynq, FTIXX provides a place to store cash and earn returns during trading gaps, redeemable when needed. David mentioned that clients have been looking for government bond assets on the platform that offer yields different from existing tools. Lynq's partners include B2C2, Wintermute, Galaxy, FalconX, Crypto.com, and Fireblocks. The network operates on a private permissioned Avalanche Layer 1 blockchain and has connected over 30 institutional digital asset companies, with assets exceeding $89 million.

Coinbase assists the Brooklyn District Attorney's Office in combating fraud cases, involving approximately 16 million dollars

Coinbase officially stated that it is cooperating with the Brooklyn District Attorney's Office in New York, assisting in the investigation of a long-term impersonation fraud case targeting platform users and supporting victims in recovering funds.According to the Brooklyn District Attorney's Office, a Brooklyn man has been charged with long-term impersonation of Coinbase customer service, using social engineering techniques to mislead users into believing their accounts were compromised and requesting them to transfer funds to a "secure wallet," subsequently transferring and stealing the funds. The case involves approximately 100 victims, with the amount in question nearing $16 million, and over $600,000 has been recovered so far.Coinbase stated that such scams do not stem from platform security vulnerabilities but are social engineering attacks that exploit user trust and urgency, with common tactics including identity forgery, impersonating customer service, and creating account risk panic. The company claims to have cooperated with law enforcement to complete various investigative tasks, including identifying suspects, assisting victims in notifications, providing legal request data support, and on-chain fund tracking, emphasizing that blockchain traceability helps law enforcement track the flow of funds.Coinbase also reminds users that the platform will never ask users to transfer funds to a "secure wallet," nor will it request 2FA verification codes, recovery phrases, or password reset links, and advises users to contact customer service only through official in-app channels. The company will continue to strengthen anti-fraud mechanisms, user education, and cooperation with law enforcement to address the increasingly complex cryptocurrency asset fraud.

Brooklyn man arrested for impersonating Coinbase customer service in $15 million cryptocurrency scam

23-year-old Brooklyn resident Ronald Spektor was arrested for perpetrating a large-scale scam by impersonating a Coinbase customer service representative. He is currently being held at Rikers Island jail, with bail set at $500,000 cash or $1 million bond.According to prosecutors, Spektor began contacting approximately 100 Coinbase users by phone starting in April 2023, falsely claiming that their assets were at risk and needed to be transferred to a "new wallet" for protection. After gaining the victims' trust, he obtained their seed phrases (a sequence of 12 to 24 words equivalent to a password), resulting in the immediate transfer of cryptocurrency to accounts controlled by the suspect. Investigations revealed that users in California alone lost over $6 million and $1 million. More than $5 million of the stolen funds were traced to the suspect's online gambling accounts, while the remainder was converted to cash or laundered through cryptocurrency exchange services.Law enforcement discovered a wealth of evidence on the suspect's phone, including conversations where he boasted about making millions from the scam on the Discord platform, as well as communications with his parents discussing how to hide the proceeds of his crimes. Spektor faces multiple charges, including felony theft and money laundering, each carrying a maximum sentence of 25 years in prison. His attorney, Todd Spodek, stated that the suspect has pleaded not guilty to all charges and claimed that these allegations are "based on incomplete information."
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