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Nishad Singh avoids prison sentence for role in FTX In New York today at 3pm, Nishad Singh entered a federal courtroom to hear a judge read his final sentencing for the crimes he committed at FTX. After considering statutory minimums, sentencing guidelines, and other documents filed relevant to the decision, Judge Lewis Kaplan decided to administer a sentence of time served with three years of supervised release, according to reporting from InnerCityPress. For context, FTX’s former CEO Sam Bankman-Fried received a 300-month prison sentence. Former co-CEO of FTX Digital Markets Ryan Salame received a 90-month sentence. Caroline Ellison, CEO of Alameda Research which stole funds from FTX customers, received a 24-month sentence. Singh, FTX’s ex-Director of Engineering, pleaded guilty to six crimes last year. He also filed a sentencing submission — and received written support from bankruptcy cleanup lead John J. Ray III — that stressed his post-collapse cooperati...

There is no clear downward trend in crypto crime, but a quiet month is undoubtedly more than welcome in the Web3 community. Web3 theft hit a low point for the year so far in October, CertiK reported. Losses to hacks, exploits and scams confirmed by the blockchain security firm amounted to $32.2 million for the month across 38 incidents, with no single incident leading to a loss of over $7 million. Compared to the ten-month total of $1.4 billion, losses in October were approximately a quarter of the running monthly average. January showed the second-lowest losses at $33.7 million. The October statistics were not the result of a steady decline in losses but rather show a lack of major incidents that month. October’s 38 incidents were a quantitative low as well. Major Web3 incidents in October. Source: CertiKAlert X account Certik’s third-quarter report indicated the number of incidents in July was 79, falling to 66 in August and 39 in September. Only exit scams were up in October and...