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BTC $75,284.73 -0.46%
ETH $2,317.37 -0.81%
BNB $625.00 +0.25%
XRP $1.42 -0.74%
SOL $85.30 -0.59%
TRX $0.3286 -0.42%
DOGE $0.0948 +0.27%
ADA $0.2472 -0.42%
BCH $441.06 -0.17%
LINK $9.25 +0.01%
HYPE $41.42 -4.59%
AAVE $90.44 -1.74%
SUI $0.9449 -1.20%
XLM $0.1687 -0.60%
ZEC $308.45 -7.14%

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Polymarket updates market integrity rules, explicitly prohibiting three types of insider trading behaviors

According to official news, Polymarket announced today that it has updated its DeFi platform and the market integrity rules of its U.S. exchange regulated by the Commodity Futures Trading Commission (CFTC). These rules have been incorporated into the Terms of Use of the DeFi platform and the Polymarket U.S. Rules Manual, further strengthening Polymarket's requirements against insider trading and market manipulation, and reaffirming Polymarket's commitment to maintaining market quality and protecting user rights.The updated rules clarify three core prohibited insider trading behaviors:Trading based on stolen confidential information ------ If a participant possesses confidential information about the outcome or potential outcomes of an underlying event, and using that information would violate a pre-existing trust or confidentiality obligation to others or entities, the participant may not engage in any contract trading.Prohibition on trading based on illegal insider information ------ Participants may not trade based on confidential information provided to them by others if that information was provided by someone who has a prior trust or confidentiality obligation to others, and the participant knows or has reason to know that the person providing that information would themselves be prohibited from trading based on that information.Trading by individuals who can influence the outcome ------ If a participant has the authority or influence sufficient to affect the outcome of the underlying event, they may not engage in any contract trading.

The procuratorial authorities in Hunan, China, have dismantled a new type of money laundering chain that used Moutai liquor transactions as a cover and virtual currency as a channel

Recently, a first-instance verdict was announced in a case of concealing and hiding criminal proceeds, which was prosecuted by the People's Procuratorate of Yuetang District, Xiangtan City, Hunan Province, China. A new type of money laundering chain, disguised as a Maotai liquor transaction and using virtual currency as a channel, was completely dismantled, involving an amount of over 6.84 million yuan, with all 8 defendants sentenced. The gang had clear divisions of labor and strong concealment.Chen connected with upstream sources through overseas encrypted communication software, received telecom fraud proceeds, and contacted "U merchants" to complete the exchange and circulation of virtual currency; Xie was responsible for providing tools for the crime and keeping track of financial details; Huang used Maotai liquor trading as a cover to disguise the trajectory of the transfer of criminal proceeds with real transaction shells; the remaining members assisted with fund settlement and information transmission. The gang used fake Maotai liquor transactions as the "cleaning" stage, disguising overseas fraud proceeds as legitimate business income, converting them into virtual currency to return to upstream, and taking an illegal commission of 8% for each "cleaning."In December 2023, with a report from a victim, this black and gray industrial chain hidden under the guise of liquor trading surfaced. After the incident, the People's Procuratorate of Yuetang District intervened in the investigation early, guiding the public security organs to sort through nearly 20 million yuan in fund flows and massive electronic data, achieving a full-chain crackdown and comprehensive evidence collection. The court ultimately sentenced Xie and 7 other principal and accomplice offenders to fixed-term imprisonment ranging from 2 to 6 years for the crime of concealing and hiding criminal proceeds; the relatively minor offender Liang was sentenced to 1 year in prison with 1 year of probation.
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