ChainCatcher reports that, according to market sources, 24-year-old Connecticut man Elmin Redzepagic faces up to 375 years in prison for allegedly embezzling nearly $1 million in cryptocurrency investor funds to gamble on the Stake platform.
Prosecutors accuse him of impersonating a cryptocurrency investment expert working under the name “The Chef,” promising clients high returns but actually using the funds for gambling. Last month, a federal grand jury indicted him on 21 charges, including seven counts of wire fraud, eleven counts of international money laundering, and three counts of making false statements to IRS criminal investigators. This Thursday, Redzepagic pleaded not guilty to all charges and was released on a $500,000 bond.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
South Korea's National Tax Service accidentally exposed wallet seed phrases, leading to the instant theft of $4.8 million in crypto assets
South Korea's National Tax Service unexpectedly disclosed the 12-word seed phrase for a cryptocurrency wallet, resulting in approximately $4.8 million worth of digital assets being stolen within a few hours. This incident has raised cybersecurity alerts and exposed government negligence in managing crypto assets. Authorities have launched an investigation. This is the third related incident in nearly three months, highlighting operational risks within the government.
ChainNewsAbmedia2h ago
Exaggeration » Korean Tax Agency Press Release Reveals Mnemonic, 6.4 Billion Won in Seized Assets Emptied Overnight
The Korean National Tax Service quickly transferred approximately $4.8 million worth of crypto assets after a mnemonic phrase in a press release was not masked, leading to a security breach. This incident is the third cryptocurrency theft in South Korea within the past three months. Experts criticize this as a reflection of law enforcement's insufficient understanding of crypto asset security and emphasize that mnemonic phrases should be strictly protected to prevent asset theft.
動區BlockTempo6h ago
Latam Insights: Brazil Introduces Crypto Tax Evasion Bill, El Salvador Finalizes New Bitcoin Diploma Program
Welcome to Latam Insights, a compilation of the most relevant crypto news from Latin America over the past week. In this edition, a bill to criminalize crypto-linked foreign currency tax evasion surges in Brazil, El Salvador finalizes its Bitcoin Diploma 2.0 educational program, and Engie mulls
Coinpedia7h ago
Iran Built a $7.78B Crypto Economy to Bypass Sanctions
Chainalysis links transaction spikes to protests, sanctions, and the 2025 Iran–Israel war.
Citizens increased Bitcoin withdrawals during unrest as inflation hit 40–50% and the rial weakened.
Addresses tied to the IRGC and central bank moved billions in crypto, including over $507M in
CryptoFrontNews7h ago
Washington's Crackdown on Southeast Asian Scam Centers Tops $580 Million in Crypto Seizures
U.S. authorities have seized over $580 million in cryptocurrency linked to Southeast Asian scam centers operated by Chinese criminals, targeting "pig butchering" fraud schemes and potentially addressing nearly $10 billion in annual losses for victims.
Coinpedia11h ago
