Duo – Earlybirds Invest https://earlybirdsinvest.com Latest Crypto News Sun, 27 Jul 2025 20:55:33 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.7 https://i0.wp.com/earlybirdsinvest.com/wp-content/uploads/2024/12/cropped-New-Project-2024-12-17T235703.455.png?fit=32%2C32&ssl=1 Duo – Earlybirds Invest https://earlybirdsinvest.com 32 32 240146708 Bitcoin Extortion Duo Walks Free, Judge Sets $1 Million Bail Each https://earlybirdsinvest.com/bitcoin-extortion-duo-walks-free-judge-sets-1-million-bail-each/ https://earlybirdsinvest.com/bitcoin-extortion-duo-walks-free-judge-sets-1-million-bail-each/#respond Sun, 27 Jul 2025 20:55:32 +0000 https://earlybirdsinvest.com/bitcoin-extortion-duo-walks-free-judge-sets-1-million-bail-each/

John Woeltz and William Duplessie have been released on $1 million bail each after being accused of kidnapping and harming an Italian man in a Manhattan townhouse, according to a report by ABC News.

The next court hearing is scheduled for October 15. In the meantime, both men are required to wear ankle monitors, hand over their passports, and report for security checks every 72 hours.

Crime reporter Lauren Conlin, who was present at the hearing, shared on X that the defense described the situation as a form of hazing, not a crime, by referring to it as “17 days of shenanigans”.

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The case began on May 6 when a cryptocurrency trader from Italy arrived in New York. Prosecutors said he was taken after landing and held against his will for several weeks.

During that time, the suspects allegedly tried to force him to give up access to his Bitcoin
BTC


$116,559.70

by using violence and threats.

According to the Manhattan District Attorney’s Office, the man was reportedly beaten, shocked with wires, and hit with a gun. The attackers also told him they would hurt his family if he did not cooperate.

The victim eventually escaped and asked a traffic officer for help. He was taken to the hospital with injuries that matched his story.

Police later arrested Woeltz at the scene. Duplessie turned himself in several days after the escape. Investigators noted that the kidnapping was carefully planned.

Meanwhile, the London gang was convicted after abducting a Belgian barber they wrongly believed was rich in crypto. How did that happen? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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London Duo Jailed for $2 Million Crypto Scheme https://earlybirdsinvest.com/london-duo-jailed-for-2-million-crypto-scheme/ https://earlybirdsinvest.com/london-duo-jailed-for-2-million-crypto-scheme/#respond Tue, 08 Jul 2025 02:09:17 +0000 https://earlybirdsinvest.com/london-duo-jailed-for-2-million-crypto-scheme/

Author

Julia Smith

Author

Julia Smith

About Author

Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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Two residents of Greater London have been sentenced to over a decade behind bars after they defrauded dozens of investors of over $2 million in a years long crypto scheme, a new press release from the Financial Conduct Authority (FCA) states.

Crypto Conmen Sent To Jail

According to the UK Financial watchdog’s Friday press release, Raymondip Bedi and Patrick Mavanga have been sentenced to over five years and six years in prison respectively for orchestrating the multi-million dollar digital asset scheme.

“Bedi and Mavanga ruthlessly defrauded dozens of innocent victims, and it is right that they have received these prison sentences,” Steve Smart, joint executive director of enforcement and market oversight at the FCA, said.

“Criminals need to be clear that there is a cost to committing crime and we will seek to make them pay,” he added.

FCA Exposes London Crypto Scheme

Between February 2017 and June 2019, Bedi and Mavanga defrauded at least 65 investors out of a total of £1,541,799, nearly equivalent to $2,100,000 USD.

According to a November 2024 press release, Bedi and Mavanga cold-called consumers to direct them to a website offering crypto investment opportunities.

In reality, the site and its supposed high return cryptocurrency offerings were a sham for their own financial gain.

Bedi pleaded guilty to conspiracy to defraud, conspiracy to breach the general prohibition under the Financial Services and Markets Act 2000 and money laundering offences at a May 2023 hearing.

Meanwhile, Mavanga pleaded guilty to conspiracy to defraud, conspiracy to breach the general prohibition under the Financial Services and Markets Act 2000 and possession of false identification documents with an improper intention in June 2023.

‘Bedi and Mavanga lured investors with promises of high returns on crypto investments, but their schemes were nothing but a callous scam,” Smart said in a statement at the time.

“If you’re contacted out of the blue about an investment opportunity that sounds too good to be true, then it probably is,” he continued. “If you’re in any doubt – don’t invest.”


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Bitcoin Kidnapping Case Duo Say Victim Was Laughing, Not Locked Up https://earlybirdsinvest.com/bitcoin-kidnapping-case-duo-say-victim-was-laughing-not-locked-up/ https://earlybirdsinvest.com/bitcoin-kidnapping-case-duo-say-victim-was-laughing-not-locked-up/#respond Sun, 15 Jun 2025 12:53:41 +0000 https://earlybirdsinvest.com/bitcoin-kidnapping-case-duo-say-victim-was-laughing-not-locked-up/

William Duplessie and John Woeltz, charged in New York for allegedly kidnapping a man to steal his Bitcoin
BTC


$104,975.31

, have pleaded not guilty.

According to a report by Associated Press on June 12, their lawyers told the court that the alleged victim was not being held against his will and was seen smiling, laughing, and using drugs during the time he claimed to be in danger.

Duplessie and Woeltz appeared in a New York courtroom on June 11. Their legal teams said video clips showed the victim walking around New York and looking relaxed. They argued that it did not match the claim that he was being held captive and tortured.

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Prosecutors pushed back on the defense’s claims. Assistant District Attorney Sarah Khan stated that the videos were shared in an attempt to create a false version of what happened. She said the goal was to make it seem like the man was free to leave, even though the full situation was different.

Authorities said they found photos of the victim with a gun to his head and another showing him being set on fire. They also recovered weapons, including a chainsaw and a loaded pistol, from the scene. They also stated that there may be two more individuals who were held by the same suspects in other locations.

Both Duplessie and Woeltz are facing serious charges, including first-degree kidnapping and assault. If found guilty, they could face a life sentence in prison. The judge denied their requests for bail, which means they will stay in custody until their next court date on July 15.

Meanwhile, on June 9, the US Attorney’s Office for the Central District of California announced guilty pleas from five men. What case were they involved in? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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Turing Award Duo Warn: AI Needs Caution, Not Just Innovation https://earlybirdsinvest.com/turing-award-duo-warn-ai-needs-caution-not-just-innovation/ https://earlybirdsinvest.com/turing-award-duo-warn-ai-needs-caution-not-just-innovation/#respond Sun, 09 Mar 2025 06:57:41 +0000 https://earlybirdsinvest.com/turing-award-duo-warn-ai-needs-caution-not-just-innovation/

Andrew Barto and Richard Sutton, pioneers in reinforcement learning, have received the 2024 ACM AM Turing Award, a top honor in computing.

Instead of focusing on their achievement, they used the moment to express concerns about how artificial intelligence (AI) is being developed and released without enough safety measures.

Their work in the late 1970s laid the foundation for reinforcement learning, a method where AI improves by learning from successes and mistakes. Their 1998 book, Reinforcement Learning: An Introduction, became a key resource in the field and has been widely referenced by researchers.

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During the award announcement, Barto and Sutton criticized AI companies for prioritizing business goals over responsible development. Barto told The Financial Times:

Releasing software to millions of people without safeguards is not good engineering practice.

He argued that other fields of engineering focus on minimizing risks, but AI companies are not following the same approach.

Despite their concerns, they believe AI can benefit society if it is developed with proper caution. In an interview with Axios, Barto acknowledged that AI could bring positive changes if managed carefully.

Sutton also discussed artificial general intelligence (AGI), suggesting that in the future, intelligent machines could exist without the need for biological evolution.

Furthermore, ACM President Yannis Ioannidis praised their achievement, saying, “Barto and Sutton’s work demonstrates the immense potential of applying a multidisciplinary approach to longstanding challenges in our field”.

Meanwhile, the US and UK recently refused to sign an international AI development agreement at a summit in Paris. Why? Read the full story.

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.


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