BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BUSINESS

Cryptocurrency Exchange Binance Cleared in $8 Million Tinder Scam Lawsuit

by BlockNews Team
May 25, 2023
in BUSINESS, CRYPTO, FINANCE, MEDIA
Reading Time: 3 mins read
A A
1
SHARES
13
VIEWS
Share on XShare in TelegramShare on Reddit
  • Binance, a leading cryptocurrency exchange, has been officially cleared from a legal case involving an $8 million “pig butchering” scam that occurred on the dating app Tinder, as no evidence was found to suggest their involvement.
  • The victim, Divya Gadasalli, sought legal recourse against not only Binance but also TD Bank, Abacus Federal Savings Bank, and the Poloniex exchange, claiming they were complicit in the crime. However, the court ruled against her arguments.
  • U.S. District Judge Amos Mazzant stated that Gadasalli could not prove any actual involvement of Binance in the incident or establish the court’s jurisdiction over the company, and she failed to show that any part of the scam took place in Texas.

Leading global cryptocurrency exchange, Binance has been officially cleared from a legal case concerning a deceptive “pig butchering” scheme that occurred on the dating app Tinder. On May 22, U.S. District Judge Amos Mazzant ruled that there was no evidence to suggest Binance Holdings Ltd. had any involvement in the cybercrime case. The case centered around a Texas woman, Divya Gadasalli, who reportedly lost an astonishing $8 million to a man she met on Tinder.

According to official court records, Gadasalli was enticed by a man posing as “Jerry Bulasa” on the widely-used dating app with the dual promise of romance and financial gain. Tragically, the woman ended up being defrauded out of more than $8 million.

Gadasalli claimed that Bulasa convinced her to transfer large sums of money, which ultimately became entangled in a cunning scheme known as “pig butchering.” This method involves the perpetrator forming a fake romantic relationship with their target over time before duping them into sending substantial amounts of money.

In March 2022, Gadasalli sought legal recourse, implicating not only Binance but other parties such as T.D. Bank, Abacus Federal Savings Bank, and the Poloniex exchange in her pursuit of justice.

Gadasalli’s primary argument was that Binance was complicit in the crime because it provided services to the fraudster. She contended that Binance and Binance.US are indistinguishable entities, accessible through virtual private networks (VPNs). However, Judge Mazzant definitively stated that the plaintiff “cannot prove any actual involvement of Binance in the incident” and could not establish the court’s jurisdiction over the company.

Furthermore, Mazzant noted that Gadasalli could not show that any aspect of the scam took place in Texas, as Binance and Binance.US were prohibited from operating in the state.

Binance Navigates Rocky Regulatory Terrain

Navigating a turbulent regulatory environment, Binance, a global leader in cryptocurrency exchange, finds itself in the crosshairs of U.S. law enforcement. Last December, officials at the US Justice Department grappled with potentially indicting Binance over money laundering allegations. This was further intensified by an April report, suggesting Binance’s efforts to sidestep American law enforcement.

Binance, on its part, has voiced support for a comprehensive U.S. regulatory strategy, releasing a Law Enforcement Guide to facilitate better interaction with U.S. agencies. Despite this, April saw the initiation of a government probe into Binance’s operations, followed by the company’s former CEO, Catherine Coley, seeking legal counsel. Furthermore, a court upheld the U.S. government’s plausible case against a billion-dollar transaction involving Binance.US and Voyager.

The extent of Binance’s predicament remains indeterminate, but the looming pressure from U.S. regulators signifies potential repercussions for the company.

Tags: BinancecryptoLawsuittinder
TweetShareShare
Previous Post

ETH Can Be a Security and a Commodity: Former CFTC Commissioner

Next Post

Lawmakers Grapple with Digital Asset Regulation: Global Efforts and US Challenges

DON'T MISS THESE! HOT OFF THE PRESS

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling
CRYPTO

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?
CRYPTO

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak
CRYPTO

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party
CRYPTO

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?
BITCOIN

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL
BITCOIN

Crypto Supply Shock: Bitwise Predicts Bullish Runs for BTC, But Shows Doubt With ETH and SOL

July 1, 2025
Load More

Related News

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

Anime 2.0 Revealed: Studio Azuki and the New Wave of Anime Storytelling

July 1, 2025
Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

Pi Coin in July 2025: Rebound Brewing or Another Breakdown?

July 1, 2025
VeChain Struggles to Regain Steam After December Peak

VeChain Struggles to Regain Steam After December Peak

July 1, 2025
Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

Shiba Inu’s Golden Cross Sparks $110M Whale Surge as Pippen Joins the Party

July 1, 2025
Toncoin and Telegram: The Sleeping Giant of 2025?

Toncoin and Telegram: The Sleeping Giant of 2025?

July 1, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.