Crypto-trader found guilty of killing mom for £500,000 insurance payout.

A cryptocurrency (crypto) trader,  Zachary Rebelo, has been sentenced for murdering his mother after found guilty.

The court revealed that his motive was to obtain over $1 million in life insurance benefits and sustain the illusion of a perfect life.

On May 25, 2020, Colleen Rebelo, a 58-year-old resident of Perth, Australia, was tragically found dead in her bathroom by her youngest son.

Investigations revealed that Zachary, Colleen’s son, had obtained three life insurance policies totaling $1.2 million AUD (£500,000) in his mother’s name.

It was also revealed that he named himself as the sole beneficiary, just one week prior to her demise.

Even though Ms. Rebelo’s death was sudden and unexpected, the first responders didn’t think anything suspicious was going on, and the autopsy couldn’t figure out what killed her.

Report had it that, at the time Rebelo and his partner, Instagram influencer Grace Piscopo, who has over a million followers, were living it up on social media, posting pics of their fancy vacations, flashy cars, and wild experiences.

Within days of Ms. Rebelo’s passing, Rebelo, 28, embarked on a pursuit of insurance payouts, targeting policies including one totaling $500,000 AUD (£252,000).

In an attempt to secure the insurance claims, Rebelo resorted to submitting falsified health and death records.

He also forged copies of his mother’s medical documents, and a coroner’s report.

Zachary, as well utilized an AI-generated voice to impersonate Ms. Rebelo’s psychologist in a voicemail to the insurer.

Following a thorough examination, an insurance company employee detected anomalies in the case.

The examination led to suspicions of fraudulent activity by Rebelo in his attempt to claim life insurance benefits.

Acting on the information received, the police launched a thorough investigation into the events leading to Ms. Rebelo’s death.

The investigation ultimately led to the arrest and charging of  Zachary, for murder in 2022, a crime for which he has been found guilty.

Know all about crypto

Cryptocurrency is a digital currency that uses cryptography to secure transactions.

It is decentralized, giving users more control over their money.

Types of crypto

Bitcoin (BTC): This is the first and most famous cryptocurrency.

Altcoins: These are other cryptocurrencies like Ethereal, Lite coin, and Ripple that offer different features and uses.

Tokens: These are digital assets built on existing block chains, like ERC-20 tokens on Ethereal.

Stable coins: This means cryptocurrencies tied to traditional currencies to reduce price fluctuations.

Central Bank Digital Currencies (CBDCs): These are the digital currencies created and controlled by central banks.

How crypto works

Block chain: A decentralized, digital ledger that records transactions.

Mining: The process of verifying transactions and adding them to the block chain.

Wallets: Software programs that store, send, and receive cryptocurrencies.

Transactions: The process of sending and receiving cryptocurrencies.

Uses Of Crypto

Payments: Cryptocurrencies make online and in-store payments easy and secure.

Investments: You can buy and hold cryptocurrencies as investments.

Remittances: Cryptocurrencies help you send money across borders quickly and affordably.

Decentralized Finance (DeFi): Cryptocurrencies give you access to decentralized lending and borrowing services.

Micro transactions: Cryptocurrencies make small transactions easy and affordable.

Benefits

Decentralization: Autonomous and decentralized.

Security: Secure transactions through cryptography.

Speed: Fast and global transactions.

Low Fees: Lower fees than traditional payment systems.

Transparency: Publicly recorded transactions.

Risks

Volatility: Cryptocurrency prices can be really unpredictable.

Security risks: Cryptocurrencies can be hacked or compromised.

Regulatory uncertainty: The rules for cryptocurrencies are still being figured out.

Market manipulation: Cryptocurrency markets can be manipulated by individuals or groups.

Liquidity risks: It can be hard to buy or sell cryptocurrencies quickly.

Crypto Regulations

Anti-Money Laundering (AML): These are rules to prevent cryptocurrencies from being used for illegal activities.

Know Your Customer (KYC): Businesses must verify their customers’ identities to comply with regulations.

Licensing and Registration: Cryptocurrency businesses must obtain licenses and register to operate legally.

Taxation: Cryptocurrency transactions are subject to taxation, just like traditional assets.

Consumer Protection: Regulations protect consumers from scams and fraudulent activities.

Crypto Mining

Proof of Work (POW): Miners solve complex math problems to validate transactions and secure the network.

Proof of Stake (POS): Miners stake their own cryptocurrencies to validate transactions and secure the network.

Mining hardware: Special computers designed specifically for cryptocurrency mining.

Mining software: Software that helps manage and optimize cryptocurrency mining operations.

Consensus mechanisms: Ways for nodes on a block chain network to agree on the validity of transactions.

Cryptocurrency Wallets

Software wallets: Digital wallets that let you store, send, and receive cryptocurrencies.

Hardware wallets: Physical devices that securely store, send, and receive cryptocurrencies.

Paper Wallets: Physical documents that contain your cryptocurrency private keys.

Cryptocurrency Exchanges

Centralized exchanges: These are exchanges that act as middlemen between buyers and sellers.

Decentralized exchanges: Exchanges that let buyers and sellers trade directly with each other.

Hybrid exchanges: Exchanges that combine the benefits of centralized and decentralized exchanges.

Cryptocurrency Trading

Day trading: Buying and selling within a day.

Swing trading: Holding for a short period.

Long-term investing: Holding for an extended period.

Scalping: Making multiple small trades.

Cryptocurrency Security

Two-Factor Authentication (2FA): Adding an extra verification step for security.

Multi-signature wallets: Requiring multiple signatures for transactions.

Cold Storage: Storing cryptocurrencies offline for security.

Cryptocurrency Taxes

Capital gains tax: A tax on the profits you make from selling cryptocurrencies.

Income tax: A tax on the income you earn from cryptocurrencies, like mining or staking rewards.

Value-Added Tax (VAT): A tax on the value added to goods and services, including cryptocurrencies, during production and distribution.

Future

Mass adoption: Widespread acceptance of cryptocurrencies.

Regulatory clarity: Clear cryptocurrency regulations.

Technological advancements: Improvements in block chain technology.

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