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Web3 Is Going Great
Primary Source ↗Incident Details
Former Binance CEO Changpeng “CZ” Zhao has been sentenced to four months in prison after pleading guilty to money laundering-related charges. The charges were filed in November, and Zhao entered a guilty plea, resigned from the company, and agreed to pay a $50 million fine.Prosecutors sought a three year sentence for Zhao, while Zhao requested to serve no time. The judge ultimately decided on a sentence closer to the five-month sentence that was being recommended by the Probation Office.
Technical Details
- Initial Attack Vector
- Regulatory / legal action
- Vendor / Product
- Changpeng Zhao
Timeline
- 2024-04-30 Breach occurred
- 2024-04-30 Publicly disclosed