🧠📰 BitYields Crypto News

🇺🇸⚖️📃 Indictment document

🇺🇸🚨🚓 🔒 BREAKING: 26-years old founder of crypto investment project “Gray Digital / Gray Fund” 🇨🇦Nathan Gauvin (aka DeFi Gray) arrested in UK following charges pressed by FBI, SEC and IRS —————————————————— 10 Dec 2025, New York: Earlier today in federal court in Brooklyn, a 21-count indictment was unsealed charging Nathan Gauvin, also known as “defigray” and “gray,” a citizen of Canada with conspiracy to commit securities fraud and wire fraud, securities fraud, wire fraud, investment advisor fraud, bank fraud, money laundering, obstruction of justice and aggravated identity theft.  The charges arise from Gauvin’s roles in defrauding hundreds of investors in a web-based investment company called Gray Digital Capital Management Inc. (Gray Digital) and in a subsequent scheme to defraud a New York-based financial technology company to obtain credit from two banks insured by the Federal Deposit Insurance Corporation (“FDIC”).  In total, Gauvin fraudulently raised more than $42 million from Gray Digital investors and obtained more than $800,000 in credit from lenders.  Gauvin was arrested today in England on a provisional arrest warrant issued from the Eastern District of New York. Joseph Nocella, Jr., United States Attorney for the Eastern District of New York, Christopher G. Raia, Assistant Director in Charge, Federal Bureau of Investigation, New York Field Office (FBI), and Harry T. Chavis, Jr., Special Agent in Charge, Internal Revenue Service-Criminal Investigation, New York (IRS-CI) announced the indictment. “As alleged, the defendant’s investment company was a house of cards constructed with investor funds and held together with lies.  When his house of cards collapsed, Gauvin doubled down by obstructing the regulator’s investigation and trying to defraud a lender.  Gauvin’s run of lies ends today,” stated United States Attorney Nocella.  “ “Nathan Gauvin allegedly lied about his background, qualifications and purported investment returns to raise at least $42 million from interested investors of his fund. As alleged in the indictment, between approximately May 2022 and October 2024, Gauvin and others defrauded investors in Gray Digital and Gray Digital’s flagship fund, the Gray Fund. For example, Gauvin and Gray Digital made false claims that the Gray Fund had a cumulative return since inception of 4,384%, and that Gray Digital’s holdings had been verified by an audit firm when, in reality, the asset attestations were based on doctored bank and brokerage statements provided by Gauvin and others to the audit firm and not independently verified.  Gauvin raised at least $42 million from investors based on these false claims, including investors in the Eastern District of New York.  Rather than invest the funds he raised as represented, Gauvin used most investor deposits to pay investor withdrawals and misappropriated millions of dollars in investor funds, which he spent on luxury goods, jewelry and his personal credit card bills.  Gauvin estimated losses from the Gray Digital fraud to be approximately $20 million. After Gray Digital collapsed in 2024, Gauvin obstructed and attempted to obstruct a SEC investigation into the fraud by providing the SEC with fraudulent documents. Between approximately May 2025 and June 2025, Gauvin and others provided fraudulent bank statements and other false information to a New York-based financial technology company (“FinTech Company-1”) to obtain approximately $800,000 in credit from two FDIC-insured banks.  Gauvin used the proceeds to pay personal expenses, including to a private members-only social club in London, England. 🌎 Official press release (including full indictment document): https://www.justice.gov/usao-edny/pr/founder-and-chief-executive-officer-investment-company-charged-multi-million-dollar ————————————————— 🧠 Follow us: @bityields_news 💬 Join the chat: @bityields 🌎 Read our articles: bityields.net ⭐️ Boost us: 🚀 Boost Bityields 🔖Tags: #BitYields #LegacyZ #GrayFund #GrayDigital #DeFiGray #Crypto #Scam #Blockchain

⚖️👨🏼‍⚖️📉 BREAKING: Telegram crypto influencer “LegacyZ” (@Legacyzz) is under investigation in U.S. for embezzlement of funds from multiple online crypto investment projects, leaving investors to suffer millions in losses ——————————————————— ◼️X.com account @DontRunImAsian shares: “It seems like Legacyz liquidated as much as he could. Millions of dollars belonging to investors might be gone.” ◼️ List of full projects attributed to LegacyZ: • Aion Ventures • Aion Alchemy • Aion Mining / Pioneer Legend • Liquid Capital / Doubloon / Gold Chest • Titan (project with $50K per NFT • Blood Horizon • Looties • Moonies • Degen Invest • Diamond Investment Group • Regrower Society 📱 "If you guys want to form a legal council, go for it. I'll just declare bankruptcy." said to investors in the Discord channel of Aion Ventures. 📱 Read full the thread: https://x.com/dontrunimasian/status/1969743966313533608?s=46pa ————————————————— 🧠 Follow us: @bityields_news 💬 Join the chat: @bityields 🌎 Read our articles: bityields.net ⭐️ Boost us: 🚀 Boost Bityields 🔖Tags: #BitYields #LegacyZ #Legal #Crypto #Scam #Blockchain #AionVentures #TitanNFT

🔹🟣🔐🥇 🥈💸👀 BITYIELDS EXCLUSIVE: $18+ MILLION of crypto assets transferred out from the cold wallets of Haru Invest to an unknown address ——————————————————— BitYields has been first to identify this morning that significant amount of money has been started to be transferred out from the publicly identified cold wallets of the bankrupt cryptocurrency investment platform Haru Invest. The recipient of the funds on the Ethereum chain is: 0x2D15C35FE6Ab4A321bC0F13Aa0A8cffC63563180 The verified wallets of Haru Invest from which the sums have been transferred out are: 0x7aDA32aD333051665953Ef8cFb801d02a883DA7b 0x77Ca61c7f06bBA8B8ed80B8455c40557AA3d7538 (⚠️B&S Holdings wallet identified first by BitYields) 0x926CbC6b830cD54E802c730255E19F349201cfbD 0xE94aE6ca671410D64961290AafD56c189b7826CD 0xAa5885b42B874DeBB8BFEF3FB46409fDd58B4bC3 0x108971c768FB92f287E76425086F9CfaB9141b69 0xBF19a1Feff1D6a97CE8c096504A21Ee492B76Eb8 A month ago BitYields has reported another suspicious transfer with a wallet closely associated with the cluster of the management of Haru Invest: https://t.me/bityields/7304/13944 BitYields was first to provide these addresses to public prosecutors in South Korea in 2023 and blockchain research conducted by us has been used both by creditors, prosecutors and law firms to identify and better evaluate the situation of Haru Invest and Delio. Additionally factual and blockchain evidence published by BitYields has also been cited as key evidence in the court indictment documents by South Korean authorities. Note: Bitcoin transactions are not included, hence the total estimate ought be greater. ————————————————— 🧠 Follow us: @bityields_news 💬 Join the chat: @bityields 🌎 Read our articles: bityields.net ⭐️ Boost us: 🚀 Boost Bityields 🔖Tags: #BitYields #HaruInvest #Haru #SouthKorea #Legal #Crypto #B&SHoldings #Law #Scam #Blockchain #ChainAnalysis

⚖️🇰🇷 “False statements about operations existed, but losses alone don’t prove fraud”: Haru Invest directors pronounced innocent by South Korea Seoul South District Court in controversial legal verdict on 17 June 2025, stunning international legal community and tens of thousands victims _______________________________________ ◼️“Losses alone do not equate to deceitful conduct.” ◼️“Returns were disclosed and paid through reasonably adjusted calculations.” ◼️“If deception was intended, they wouldn’t have voluntarily reduced fixed product yields.” ◼️“‘Risk-free strategy’ should be interpreted as low-risk, not no-risk.” ◼️“FTX-related miscommunication acknowledged… But defendants passed on what they were misled into believing.” ◼️“False promotion about management details admitted, but financial loss itself isn’t necessarily fraud.” ⏳The decision is not final as appeal by the prosecution will be pending ——————————————————— On June 17, the 15th Criminal Division of the Seoul Southern District Court (Presiding Judge Yang Hwan-seung) found not guilty four executives of Haru Invest, who had been charged with fraud for allegedly misappropriating around 880 billion KRW (approx. $635 million USD) in crypto assets. This outcome sharply contrasted with prosecutors’ request for up to 23 years of imprisonment, sending shockwaves through both the crypto industry and the legal community. The court concluded that it couldn’t definitively say that Haru Invest’s business model made it impossible to repay principal and profits to investors. The key point was that the company had in fact generated profits and was halted due to external factors. 3. “‘Risk-free strategy’ must be interpreted as low-risk” The prosecution claimed the defendants falsely advertised risk-free arbitrage strategies. But the court said: “‘Risk-free’ in financial practice typically means ‘low-risk,’ not literally riskless.” The court acknowledged a 285 ETH loss in May 2021, but attributed it to unforeseeable events like crypto crashes and exchange outages—not faulty strategy. 4. “FTX miscommunication acknowledged, but defendants were misled themselves” The court acknowledged that after FTX’s collapse, defendants inaccurately told customers no harm had occurred. 5. “False statements about operations existed, but losses alone don’t prove fraud” 📚 Source: https://www.digitalasset.works/news/articleView.html?idxno=28061 ————————————————— 🧠 Follow us: @bityields_news 💬 Join discussion: @bityields ⭐️ Boost us: 🚀 Boost Bityields 🔖Tags: #BitYields #HaruInvest #Haru #SouthKorea #Legal #Crypto #B&SHoldings #Law #Scam

BREAKING: U.S. will establish “strategic crypto reserve” consisting of BTC, ETH, XRP and other coins following announcement by President Trump. ————————————————— 🧠 Follow us: @bityields_news 💬 Join discussion: @bityields ⭐️ Boost us: 🚀 Boost Bityields 🔖Tags: #BitYields #USA #Trump #Reserve #Legislation #US #BTC #ETH #XRP

🔓🔸💸BREAKING: Hackers from 🇰🇵North Korea drain ~$1.5B worth of 🥈ETH from the cold wallet of ByBit setting the anti-record for largest crypto heist in history, however CEO assures customers there’s enough insured funds to recover the losses. 📚Source: TheBlock ————————————————— 🧠 Follow us: @bityields_news 💬 Join discussion: @bityields ⭐️ Boost us: 🚀 Boost Bityields 🔖Tags: #BitYields #ByBit #NorthKorea #Theft #Lazarus #Crypto #CEX #Hack

❓Jun-Ho Bang: with or without internet in prison? It remains unknown how Bang did manage to upload the documents on 14 Feb 2025 at 10:35. If we truly assume Bang didn’t have access to devices (and his lawyer is now allowed to provide him with a computer during visits), one possibility is his lawyer might draft the document, print them and have Bang sign them in prison. Then the legal representative can uplaod it to the FTX system. However, legally in such cases the lawyer should rather act via a “Power of Attorney” and should clearly disclose in the system that he is acting as a proxy of the client, and the document being uploaded rather should be signed by the proxy himself. Based on these the motion of claims might be completely voided if Bang indeed didn’t enter the system by himself. ❓Why Jun-Ho Bang hasn’t assisted in declaring Lemma Technologies bankrupt yet? Is transfer of claims shortly before bankruptcy legal? The above letter reveals how some creditors of Bang already receive preferential prioritization over the FTX bankruptcy claims, before Jun-Ho Bang is declared bankrupt himself. Several law firms, particularly LawJibsa say the bankruptcy of Jun-Ho Bang is just a matter of time. This rises legal questions whether such transfers of asset claims shortly before bankruptcy legal and fair to other creditors of Jun-Ho Bang and can the bankruptcy trustees in U.S. and South Korea deem these transfers null? Unfortunately this is not the first time when Bang does “secret ninja transfers” of claims, revealing a repeated pattern of behavior.

🔒📝💵👀🔹BREAKING (FREE FROM THE KOREAN PRISON) — Bang’s “secret creditors” uncovered by BitYields: Despite being imprisoned and “without computer access”, Jun-Ho Bang from 🇰🇷B&S Holdings (🇵🇦Lemma Technologies) managed to send 📋documents via email to FTX judge on 14 Feb 2025, allowing the transfer of a part of his FTX creditor claims (AGAIN) to obscure “investment partners” 🇰🇷Aimed, 🇰🇷BloCore and others ————————————————— ◼️ For the past month creditors of Haru Invest and Delio were bombarded with soap opera claims how Jun-Ho Bang was unable to conduct KYC due to strict “no computers” rules in prison and court compounds. Chief argument for asking for bail during the appeal hearing on 14 Feb 2025 stressed on these points particularly. Law firm “LawJibsa” tried to secure a bail for Jun-Ho Bang, which was denied, with prison administrators and courtroom officials citing legally “there’s no precedent” in allowing access to computers/mobile devices to convicts in those areas. ◼️2 days of freedom from 10-year sentence: This legal deadlock, combined with the fact Bang’s total FTX claims might be worth more than $300M in value led the judge to rule an unique decision to set free Jun-Ho Bang for 2 days (19, 20 Feb 2025) from his current 10-year sentence, so he can go back to his apartment and conduct FTX KYC procedure via his home computer and camera. Nobody knows whether Bang executed any blockchain transactions during this time as well. ◼️ Signing documents & sending emails in prison “without computers”: In reality documents uploaded to the 📋FTX creditors claims platform reveal Jun-Ho Bang personally signed and sent a letter to FTX bankruptcy judge 🇺🇸⚖️John T. Dorsey on 14 Feb 2025 at 10:35 AM (same day as his appeal hearing, however we are not sure what is the time zone in the document) in which he discloses he has “Investment Agreement Parties” “are parties with” him “to certain Discretionary Investment Agreements” ◼️ “Motion to amend claims” on 14 Feb 2025 after legal “counsel”: Using complex legal verbiage, Bang argues part of the 4 claims he already submitted should be interpreted as submitted “on behalf” of those “Investment Agreements Parties” effectively replacing himself with those parties as the claimants, asserting they are the “original creditors”, including change of the payment address ◼️ The recipients of this particular correction motion of Bang’s FTX claims are: 🤵🏻‍♂️ Hyung Cheol Lim (VC, Founder of 🇰🇷AIMED and 🇰🇷Blocore) 🇰🇷 Aimed, Inc. (aimed.xyz) 🇰🇷 Blocore Pte., Ltd. (blocore.com) 🤵‍♂️ Ji Woong Choi (❌no info) 🇰🇷 Mosaic Co., Ltd. (mosaic.kr) ◼️ Interpretation by BitYields: After several attempts to dissect the letter (including a consultation with our own lawyer) we think Bang was forced by his aforementioned creditors to consider the private contracts he signed with them, tried to discuss it with his own lawyer explicitly, and ultimately received the “advice” to relinquish those claims to their (supposedly) respective owners, due to the power of contracts. However it remains unknown what is the amount and proportion of these claims. ◼️ Law firm “LawJibsa” estimates the size of assets of Haru Invest in the FTX claims pot to be roughly ~50%, with the rest divided between Delio and the “undisclosed creditors” of Jun-Ho Bang. ◼️ In terms of Judge Dorsey, he has received multiple accusations for conflicts of interests from FTX creditors, since he denied an independent examination of the platform and rather appointed law firm Sullivan & Cromwell as lead counsel on the FTX incident, despite the firm having close affairs with FTX shortly before its implosion in Nov 2022. Currently a group of FTX creditors is suing Sullivan & Cromwell who has billed more than 4000 work hours (~166 days) for the FTX case 📄 Download document: “Jun-Ho Bang Motion for Claim correction to FTX bankruptcy administrator, 14 Feb 2025” ————————————————— 🧠 Follow us: @bityields_news 💬 Join discussion: @bityields ⭐️ Boost us: 🚀 Boost Bityields 🔖Tags: #BitYields #HaruInvest #Bang #Delio #FTX #Legal #SouthKorea #AIMED #Blocore #Bankruptcy

🔹💸📞🙄BREAKING: “We need to be prepared”, because “it’s 10 times bigger”: Jun-Ho Bang says “the situation is 10 times worse than Delio” while Haru Invest CEO Hyung-soo Lee insisted “We need to be prepared” to the B&S Holdings trader in latest leaked phone conversation transcripts ————————————————— ◼️ Haru Invest CEO reveals that he was fully aware of the situation, stressing the fact that he and Jun-Ho bang together have “to be prepared”, even noting precisely the relevant Special Economic Crimes Act. Furthermore Hyung-soo Lee reveals he is ready to “devorce his wife”, “settle everything and just go in”. ◼️ What hasn’t been known until know is what is the stake of Delio in the situation. While blockchain investigations are aware only of the addresses of Delio identified via the Haru Invest platform itself (which are not a huge sum), Jun-Ho Bang suggests the impact size of Haru Invest is “10 times bigger” [than Delio] ◼️ Currently the claims of Jun-Ho Bang in FTX are worth $220M, but multiple creditors among which Haru Invest, Delio and others are on the pending creditors list of Bang. If we theoretically accept what Bang says to be true and there are no other major creditors except Haru Invest and Delio, which are in the mentioned proportion it might be theoretically inferred the claim size of Haru Invest to be $200M, overshadowing the only $20M portion of Delio. ◼️It is shocking how prosecutors and judges in South Korea allowed to be made fools of themselves by completely ommitting the collusion and influence efforts of Haru Invest CEO on Jun-Ho Bang during Bang’s trials in Sep 2024 and Feb 2025. 📞Phone conversation transcript: 🔈Jun-ho Bang: “So, I think the only way I can handle this is by ensuring that Haru can be exempt from liability as much as possible.” 🔈Lee Hyung-soo: “Ah-so you're saying you'll take the full blame after everything comes to light? Is that it?” ◼️ Ultimately these transcripts reveal how Haru Invest CEO Hyung-soo Lee tries to manipulate Jun-ho Bang into taking the sole blame for the situation, while still ensuring they work together, meanwhile he already prepared a personal plan for his impending legal proceedings, going as far as swiftly precluding his marriage (potentially for bankruptcy avoidance reasons). During the next months Mr. Lee would write numerous cynical “announcements” in which he assured Haru Invest customers that he knew nothing about the reality of the situation, that Mr. Bang was the only person to blame and that Haru Invest was protecting creditors by taking legal action against Bang, without disclosing the attempts for “preparing together” ◼️ Hyung-soo Lee has still not admitted publicly what is the impact size of Haru Invest in the incident with Jun-Ho Bang, however the mere fact he knew that it was “6 times bigger than this” [Editor’s note: Haru Invest’s might have 6 times more exposure than Delio], is a testament that he was well aware of the financial size of the situation from the start, despite him repeatedly denying this in announcements too. ————————————————— 🧠 Follow us: @bityields_news 💬 Join discussion: @bityields ⭐️ Boost us: 🚀 Boost Bityields 🔖Tags: #BitYields #HaruInvest #JHBang #Delio #FTX #Legal #SouthKorea

🏛️📆👨🏼‍⚖️ My way or the highway: Uncooperative crypto trader Jun-Ho Bang from B&S Holdings (🇵🇦Lemma Technologies Inc.) has had his bail request denied and is now sentenced effectively to 10-years of jail for causing Haru Invest & Delio collapse and selling illegally customer assets deposited in FTX to offshore company 🇰🇾Svalbard Holdings Limited (owned by 🇬🇧Attestor Capital) ——————————————————— ◼️In August 2024 Korean prosecutors asked for 15-year prison sentence - with the judge reducing it to 10 - for Jun-Ho Bang, but he was still hoping to be released on bail during appeal, however the judge denied the proposal, confirming the initial 10-year sentence ◼️South Korean law firm “LawJibsa” tried until the very end to secure cooperation from Mr. Bang by visiting prison in weekends and night hours, however no solid agreements have been reached with Bang “still considering” cooperation, as “LawJibsa” now plans to independently pursue forceful bankruptcy of 🇵🇦Lemma Technologies (Bang hasn’t commited yet to self-bankrupting his companies willingly). Mr. Bang has two accounts in FTX with current estimate of his full FTX bankruptcy claim being ~$220M. ◼️Creditors of Haru Invest have expressed readiness to grant leniency petitions to the ill-fated trader if he could demonstrate willingness to reveal what exactly he did with their assets in FTX, but Bang has shown no indications for doing that, implicitly choosing to stay on bad terms with the international creditor community of more than 11,000 victims ◼️While the sentence can be theoretically appealed at higher court instance, legal circles believe the chances for Bang’s defense to be slim after this stage ◼️ You can read the full analysis of Bang’s hearing held on 14 Feb 2025 📋here ◼️ UPDATE: Some excerpts from judge’s arguments on the decision: 📃 “The defendant is an expert with extensive experience managing virtual assets. He was aware of the FTX crisis as of November 7, 2022, and recognized the difficulties in withdrawing assets, as well as the potential risk of asset freezes.” 📃“The defendant deceived investors by falsely claiming that only a small portion of the assets was in FTX and that most had been safely transferred elsewhere.” 📃“The defendant claimed he believed that asset transactions on FTX would resume soon, which led him to engage in deceptive conduct. However, this explanation lacks credibility and does not demonstrate remorse for his actions.” NOTE: Cover image is one of the few real photos of the mysterious Jun-Ho Bang which BitYields has obtained exclusively by private paid investigation. 📚Sources: 1. Original research of BitYields. 2. 📰🇰🇷 DigitalAsset ——————————————————— 🧠 Follow us: @bityields_news 💬 Join discussion: @bityields ⭐️ Boost us: 🚀 Boost Bityields 🔖Tags: #BitYields #HaruInvest #JHBang #Delio #FTX #Legal #SouthKorea