The co-founder of the cryptocurrency investment platform Forsage has been extradited from Thailand to the United States and pleaded not guilty to charges of conspiracy to commit telecommunications fraud
The U.S. Department of Justice stated that Olena Oblamska, a Ukrainian national accused of operating the cryptocurrency investment platform Forsage, was extradited from Thailand to the United States last week and appeared in federal court in Oregon, pleading not guilty to the charge of "conspiracy to commit wire fraud."
Prosecutors claim that Forsage operated under the guise of an investment project based on Ethereum blockchain "smart contracts," but in reality constituted a Ponzi and pyramid investment scheme, involving approximately $340 million. Currently, Olena Oblamska is being held in custody awaiting trial, with jury proceedings expected to begin on July 14, 2026; if convicted, she could face up to 20 years in federal prison.
You may also like
Core Scientific Eyes $3.3 Billion Debt to Propel AI Data Centers
Key Takeaways: Core Scientific is set to raise $3.3 billion through debt to expand its U.S. data center…
Nium Expands Global Payments Network with USDC Integration
Key Takeaways: Nium integrates Coinbase infrastructure for USDC-based payments, promoting seamless global transactions. The collaboration enables transactions across…
Fed Chair Nominee Faces Intense Scrutiny Over Conflicts of Interest
Key Takeaways: Kevin Warsh’s nomination as Fed Chair involves questions on financial disclosures and potential conflicts of interest.…
Blockchain.com Integrates Perpetual Futures in Self-Custody Wallets
Key Takeaways: Blockchain.com introduces perpetual futures trading through its DeFi wallet, allowing non-custodial futures trading. Users can leverage…
New York Targets Coinbase and Gemini in Crackdown on Prediction Markets
Key Takeaways: New York Attorney General Letitia James has filed lawsuits against Coinbase and Gemini for allegedly operating…
DoorDash Embraces Stablecoin Payments via Tempo Blockchain
Key Takeaways: DoorDash integrates with Tempo to enable stablecoin payments for users, dashers, and merchants. This initiative will…
Kalshi Considers Crypto Growth with New Perpetual Futures
Key Takeaways: Kalshi’s Shift: Kalshi plans to expand from prediction markets into crypto trading by introducing perpetual futures…
Latest Developments in the Cryptocurrency World
Key Takeaways: Tron founder Justin Sun is suing World Liberty Financial for allegedly freezing and threatening to burn…
Privacy Protocol Umbra Temporarily Disables Front End to Counter Kelp Exploiters
Key Takeaways: Umbra has put its front end in maintenance mode to hinder hackers exploiting funds from high-profile…
AI Spurs Bug Bounty Surge, Challenges Crypto Security
Key Takeaways: AI has boosted bug bounty submissions to 85,000 valid cases in 2025, a 7% increase. Rising…
US Law Firm Issues Apology Over AI-Caused Legal Filing Errors
Key Takeaways: Sullivan & Cromwell admitted to submitting a court filing with around 40 incorrect citations caused by…
Justin Sun Takes Legal Action Against World Liberty Financial for Token Freeze
Key Takeaways: Justin Sun, founder of Tron, sues World Liberty Financial for freezing his tokens unjustifiably. The lawsuit,…
Quantum Readiness in Blockchain: Algorand and Aptos Lead the Way
Key Takeaways: Algorand and Aptos are leading the charge in preparing for quantum threats, with Algorand implementing quantum-resistant…
Bitmine Acquires 101,627 ETH, Strengthening Public Ether Treasury
Key Takeaways: Bitmine purchased 101,627 ETH, bringing its total holdings to 4,976,485 ETH, which is about 4.12% of…
Fraudsters Exploit Crypto Demands on Ships in the Strait of Hormuz
Key Takeaways: Scammers posing as Iranian authorities are demanding cryptocurrency from ships stranded in the Strait of Hormuz.…
US Admiral Views Bitcoin as a Tool for US Power Projection
Key Takeaways: Bitcoin’s proof-of-work is praised for cybersecurity by US Navy Admiral Samuel Paparo. The technology imposes higher…
Volo DeFi Faces $3.5M Security Breach: A Close Look
Key Takeaways: Volo Protocol suffers a $3.5 million exploit in specific vaults on the Sui blockchain. Immediate steps…
Uzbekistan Launches Tax-Free Crypto Mining Zone in Karakalpakstan
Key Takeaways: Uzbekistan has initiated the “Besqala Mining Valley” in Karakalpakstan, offering a supervised zone for crypto mining…
Core Scientific Eyes $3.3 Billion Debt to Propel AI Data Centers
Key Takeaways: Core Scientific is set to raise $3.3 billion through debt to expand its U.S. data center…
Nium Expands Global Payments Network with USDC Integration
Key Takeaways: Nium integrates Coinbase infrastructure for USDC-based payments, promoting seamless global transactions. The collaboration enables transactions across…
Fed Chair Nominee Faces Intense Scrutiny Over Conflicts of Interest
Key Takeaways: Kevin Warsh’s nomination as Fed Chair involves questions on financial disclosures and potential conflicts of interest.…
Blockchain.com Integrates Perpetual Futures in Self-Custody Wallets
Key Takeaways: Blockchain.com introduces perpetual futures trading through its DeFi wallet, allowing non-custodial futures trading. Users can leverage…
New York Targets Coinbase and Gemini in Crackdown on Prediction Markets
Key Takeaways: New York Attorney General Letitia James has filed lawsuits against Coinbase and Gemini for allegedly operating…
DoorDash Embraces Stablecoin Payments via Tempo Blockchain
Key Takeaways: DoorDash integrates with Tempo to enable stablecoin payments for users, dashers, and merchants. This initiative will…
