DeFI News by Thebittimes.Com

A 24-year-old Dutch law student who was the subject of a police manhunt last year was arrested this week after further evidence was submitted in relation to his alleged multi-million euro crypto scheme.  The self-styled crypto banker from Hengelo, Netherlands, vanished last year after his crypto trading scheme collapsed and investments of up to €4.5 million ($4.6 million) from an estimated 300 people, including friends and family, were lost. RTV Oost reports that the man went into hiding after investors harassed him . He then went to the police and, after a consultation, was moved to a safe location in the country.  Dutch student allegedly stole up to €10M running crypto bank Read more: Have Finnish police seized Richard Heart’s Rolex watches? However, he was arrested on Monday after a foundation set up by out-of-pocket investors and which aims to discover what happened to the lost funds, submitted further evidence. According to one victim, the alleged scamme...

In recent years, crypto influencers have rebranded ‘newsletter guru’ and ‘trading signals’ communities under a new name: ‘alpha drops.’ These groups of mostly young, male, English-speaking crypto influencers congregate on social media platforms like Discord, Telegram, or WhatsApp to hear so-called leaders flex newfound wealth in an effort to lure followers into buying subscriptions by promising to share their best trades. ‘Alpha’ is a Greek finance term that refers to an asset’s excess return relative to a benchmark index like the S&P 500. It is the idiosyncratic price, isolated from broad, correlated movements of assets. In finance, ‘seeking alpha’ is the goal of non-passive investors, as this measures their success at outperformance. In crypto lingo, ‘alpha drops’ occur when a guru alerts followers about an asset that he believes will outperform the market. Given the high-risk profile of the average altcoin investor, subscribers expect alpha of tens if ...