“[The defendant] could not shift his criminal liability,” Hui said. Just at this time, Bitcoin and the broader crypto market have dropped to new 2022 lows. The Bitcoin price has tanked 10 percent dropping to $20,000. On the other hand, the altcoin space is witnessing even more brutal correction. Bitcoin has dropped nearly 60 percent year-to-date and more than 70 percent since its all-time high in November 2021. Hui said the time period and nature of some offences “overlapped” and thus their prison terms could be served concurrently. The judge ordered Ng to be jailed for a total of six years and six months. For crypto enthusiasts, there was the “gm” app, a self-described “meme app” which only allowed users to greet each other with “gm,” or “good morning,” a common acronym thrown around on Crypto Twitter and Discord. But the gm app was shut down back in September after a hacker reportedly gained access to user data. According to media reports, the privacy watchdog was considering “blacklisting” some online platforms that have repeatedly posted doxxing information, with sources saying most messages were shared on Telegram.
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