This article outlines 18 effective KYC tactics that help crypto platforms onboard users more quickly while minimizing fraud. It emphasizes the need for tailored approaches instead of traditional banking methods, focusing on compliance and user experience.

Do Kwon, co-founder of Terraform Labs, received a 15-year prison sentence for fraud that led to a $50 billion loss in the crypto market. The judge highlighted Kwon's deceitful actions and the extensive impact on victims while rejecting the defense’s plea for a lighter sentence. Kwon admitted his guilt and expressed remorse during the hearing.

Binance, Coinbase, and several other major crypto exchanges have joined TRM Labs' new Beacon Network, aimed at combating cryptocurrency-related crime. The initiative involves collaboration with law enforcement to monitor and flag suspicious activities in real-time, enhancing consumer protection in the crypto ecosystem.

Lee, the CEO of Haru Invest, was acquitted of fraud charges related to $650 million in losses for investors, as the court found no deliberate deception despite management neglect. The abrupt closure of withdrawals in 2023 was linked to the FTX bankruptcy, leading to a broader liquidity crisis. Other co-CEOs were also acquitted, while the COO received a prison sentence for embezzlement.

Do Kwon, co-founder of Terraform, is expected to plead guilty to multiple charges, including fraud and money laundering, as a court conference has been scheduled. The charges stem from the collapse of the algorithmic stablecoin Terra USD in 2022, which resulted in significant financial losses. Kwon had previously pleaded not guilty to the allegations.