CFTC obtains entry of default against binary options and crypto scammer Blake Kantor

Maria Nikolova

The defaults of defendants Blue Bit Analytics, Ltd., Blue Bit Banc, Blue Wolf Sales Consultants, G. Thomas Client Services, Blake Harrison Kantor, Mercury Cove, Inc., and Nathan Mullins have been noted.

The United States Commodity Futures Trading Commission (CFTC) has managed to secure a clerk’s entry of default against a number of entities targeted in a binary options and cryptocurrency fraud case. This happens about two weeks after the US regulator filed its request for a certificate of default against Blue Bit Analytics, Ltd., Blue Bit Banc, Blue Wolf Sales Consultants, G. Thomas Client Services, Blake Harrison Kantor, Mercury Cove, Inc., and Nathan Mullins.

Earlier today, a clerk of the New York Eastern District Court said that, appearing from the docket maintained in this action that the defendants have failed to appear or otherwise defend this action, the defaults of defendants Blue Bit Analytics, Ltd., Blue Bit Banc, Blue Wolf Sales Consultants, G. Thomas Client Services, Blake Harrison Kantor, Mercury Cove, Inc., and Nathan Mullins are hereby noted pursuant to Rule 55a of the Federal Rules of Civil Procedure.

On April 16, 2018, the CFTC filed its Complaint against individual defendants Kantor and Mullins and corporate defendants Blue Bit, Analytics, G. Thomas and Mercury Cove, as well as relief defendant Blue Wolf seeking injunctive and other equitable relief for violations of certain provisions of the Commodity Exchange Act and Commission Regulations.

The CFTC Complaint alleges that since at least April 2014 and continuing to the present, the defendants have solicited potential customers through emails, phone calls, and a website to purchase illegal off-exchange binary options via companies such as Blue Bit Banc. The defendants sought to cover up their misappropriation by inviting customers to transfer their binary options account balances into a virtual currency known as ATM Coin.

In a related action, the United States Government is seeking a heavy prison sentence for Blake Kantor, who has pleaded guilty to criminal charges of wire fraud based upon his fraudulent binary options and cryptocurrency scheme.

Read this next

Uncategorized

Moscow Exchange reports $350 billion in November FX volumes

FX trading volumes continued its upward momentum at Moscow Exchange (MOEX) during November, buoyed by a steady rise in volatility coupled with a multi-year effort to bring new business to the platform.

Retail FX

Interactive Brokers’ volumes continue growth trajectory in November

Interactive Brokers LLC (NASDAQ:IBKR) has announced higher trading volumes in November, dwarfing the metrics for October and the same period last year by 20 percent.

Retail FX

Exness trading volume hits record highs for second consecutive ‎month

FX broker Exness’ trading volumes have breached new highs in November, building on the record-breaking turnover streak from the beginning of the fourth quarter. That has been aided by the economic impact from the Covid-19 developments and inflation concerns that apparently sent investors hunting for FX instruments to limit their risk exposure.

Institutional FX

Hedge-fund legend Steven Cohen invests in Dmitri Galinov’s 24 Exchange

24 Exchange, the OTC platform backed by Fastmatch founder Dmitri Galinov, has completed a fresh fundraising round of $14.25 million at an undisclosed valuation. The recent capital injection was led by Point72 Ventures, the venture capital firm of the hedge fund titan Steven Cohen.

Digital Assets

Can Coinbase make or break XRP? – (Congress, XRP rating, JP Morgan)

According to Coinbase’s Council, XRP has the highest rating among 28 cryptos – meaning it is the closest you can get to a security: 4 out of 5.

Digital Assets

Polygon (MATIC) delves deeper into blockchain gaming by partnering with GameOn

Polygon, the Layer 2 scaling solution for Ethereum, has announced a partnership with GameOn Entertainment to build new and different types of NFT games on the network as it seeks to expand into the blockchain gaming and NFT space in a major way.

Retail FX

David Beckham to promote GemForex across Asia

GemForex makes efforts to lead in trading conditions, execution times, safety of client funds and data security, according to the FX and CFD broker holding a Mauritius Financial License.

Retail FX

InstaForex extends sponsorship deal with Borussia Dortmund after German Cup win

InstaForex provides access to trading of forex, CFDs, stocks, futures, options, and cryptocurrencies as the FX industry goes multi asset to address the needs of an increasingly demanding client base. 

Digital Assets

Treasury Secretary Yellen still cant decide on digital dollar

Treasury Secretary of the US, Janet Yellen, has said that she still is not sure whether the US should go ahead and have the digital dollar and follow the example of other major countries including China and India in introducing the same.

<