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Cardano’s Hoskinson Calls Ethereum Classic a ‚Scam‘ — Here’s Why

• The Department of Justice (DOJ) has charged a Nevada man in a $45 million crypto scam.
• The U.S. Treasury Department has sanctioned the Tether address of Huriya CEO over Russia connections.
• Cardano founder Charles Hoskinson has called Ethereum Classic a “scam” project after Ergo was excluded from Proof-of-Work Summit.

DOJ Charges Nevada Man

The Department of Justice (DOJ) has charged a Nevada man involved in an alleged $45 million CoinDeal cryptocurrency scheme with money laundering and other offenses. The man, who ran a fraudulent investment scheme involving cryptocurrencies such as Bitcoin and Ether, is accused of using false representations to solicit customers and using their funds for his own benefit instead of investing them as promised.

Treasury Sanctions Huriya CEO

The U.S. Treasury Department has imposed sanctions on the Tether address associated with the CEO of the Russian payment processor Huriya for engaging in activities that are against U.S law or policy related to Russia’s occupation of Crimea and its malicious cyber activities. This is the first time that a cryptocurrency address has been targeted by economic sanctions imposed by the United States government, signaling an increasingly stringent approach towards digital assets linked to illegal activities or sanctioned persons or entities.

Worldcoin Faces Privacy Concerns

Worldcoin, which is being used for biometric verification, faces privacy concerns as an iris scan black market emerges online selling access to users‘ biometric data without their knowledge or consent. The company promises users complete anonymity when using its services but there are reports that it may be vulnerable to attacks due to its lack of robust security measures in place which could lead to data breaches if not addressed quickly enough.

Cardano Founder Calls Ethereum Classic A Scam

Cardano founder Charles Hoskinson called Ethereum Classic (ETC) a scam project after Ergo was excluded from Proof-of-Work Summit organized by ETC Cooperative and Litecoin Foundation due to past animosity between both blockchains‘ communities. Hoskinson stated that Ergo should have been what ETC should have been because it “continues to innovate [and] has a purpose.“ This statement demonstrates Cardano’s increasing rivalry with Ethereum networks which could further escalate competition between these two platforms in the future as they continue striving for dominance in smart contract space and beyond.

Conclusion

This week saw some significant developments in the world of cryptocurrency regulation with regulatory authorities cracking down on fraudulent projects and sanctions being imposed on individuals involved in activities deemed contrary to US interests abroad.. These events demonstrate how central governments are taking more aggressive stances against entities operating outside their purview while also taking steps towards protecting consumers against fraud and abuse within domestic crypto markets as well as internationally through increased oversight and enforcement actions such as those described above