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UK Law Enforcement Can Seize Crypto More Easily With New Powers
26.4.2024
New powers that will make it easier for UK law enforcement agencies to seize crypto come into effect on Friday.
The post UK Law Enforcement Can Seize Crypto More Easily With New Powers appeared first on Cryptonews
Canadian Authorities Question QuadrigaCX Co-Founder on Source of Funds
28.3.2024
Canadian authorities have filed a third “unexplained wealth order” application with the British Columbia Supreme Court targeting the co-founder of QuadrigaCX Michael Patryn to explain how assets were acquired.
The post Canadian Authorities Question QuadrigaCX Co-Founder on Source of Funds appeared...
FinCEN Sees Rise in Bitcoin Being Used in Human Trafficking Cases
14.2.2024
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) said it has seen a rise in the number of Bitcoin transactions used in connection with human trafficking and online child exploitation cases. According to FinCEN recent findings show 95% of cases involving online child exploitation...
US Treasury Cites Rising Cryptocurrency Misuse in 2024 National Risk Assessments
9.2.2024
In its 2024 National Risk Assessments, the U.S. Department of the Treasury has unveiled the concerning trend of criminals increasingly turning to cryptocurrencies to finance illegal activities. US Treasury Reports Identify Crypto’s Role in Illicit Finance The U.S. Department of the Treasury...
Belarusian-Cypriot National Charged by US for Operating Unlicensed Crypto Exchange BTC-e
2.2.2024
Belarusian and Cypriot national has been charged in the US for operating an unlicensed cryptocurrency exchange BTC-e and money laundering conspiracy, according to the Department of Justice (DOJ). Aliaksandr Klimenka and Alexander Vinnik, allegedly controlled the digital currency exchange BTC-e...
Abracadabra Money in Crisis as $6.5 Million Crypto Theft Sends Shockwaves Across DeFi Community
30.1.2024
Source: iStock / Xijian Popular Ethereum-based decentralized finance (DeFi) lending protocol Abracadabra Money fell victim to a platform attack on January 30. Announcing the incident on its official X (formerly Twitter) handle, the DeFi protocol stated that it is aware of an exploit on its platform...
How To Stop Criminals From Exploiting DeFi, According To Polygon Labs
29.1.2024
Polygon Labs – the main developers behind the blockchain scaling network Polygon – published a research paper on Monday explaining how the government should go about regulating the DeFi industry. From the Treasury Department to the U.S. Senate, politicians have been loudly criticizing crypto’s...
Ransomware and Darknet Markets Top List For Most Prominent Crypto Crimes
25.1.2024
A new report from blockchain analysis firm Chainalysis found that crypto related crimes decreased in 2023. While notable, findings also show that ransomware and darknet market activity involving cryptocurrency increased considerably. Eric Jardine, cybercrime research lead for Chainalysis, told...
Over $24 Billion in Cryptocurrency Received by Illicit Addresses in 2023, Down 40% from 2022: Chainalysis
18.1.2024
Crypto research firm Chainalysis revealed that at least $24.2 billion worth of cryptocurrency was sent to illicit wallet addresses in 2023, encompassing addresses associated with sanctions, terrorist financing, and scams. The figure is considered a conservative estimate, and Chainalysis expects...
Crypto Crime Amounted to Over $24B in 2023: Chainalysis
18.1.2024
The figure is nearly 40% less than that of 2022, however it is only provisional, Chainalysis stressed
CFA Renews Accusations Against Circle, Says CCTP May Be Funding Terrorism via Tron
15.12.2023
Nonprofit watchdog CFA alleged Circle’s blockchain protocol CCTP enables money laundering and funding of terrorism through Tron network. Image by Kerem Goktug Kaya, DALL-E 3. The Campaign for Accountability (CFA), a nonprofit ethics watchdog, renewed its accusations against Circle on December...
Public-Private Partnerships Necessary in Investigating Crypto Crimes: Former IRS Agent and Lead Investigator at Merkle Science
15.12.2023
Richard Reinhardt. Image: LinkedIn / Merkle Science In an exclusive interview with CryptoNews, former IRS agent Richard Reinhardt, now serving as the lead investigator at Merkle Science, talked about growing challenges in investigating crypto-related crimes and the need for public-private...
Darknet Drug Operations Hit as Feds Move to Seize $54 Million in Crypto Crime Bust
3.11.2023
The U.S. Department of Justice announced on Thursday the seizure of 30,000 Ether (ETH), valued at over $54 million, that had allegedly been used for illegal narcotics distribution in New Jersey. The assets were traced back to Christopher Castelluzzo, who was involved in narcotics operations...
FBI Charges Six in Connection with $30M Crypto Crime Ring
20.10.2023
The Federal Bureau of Investigation (FBI) filed charges on Wednesday against six individuals for allegedly running an unlicensed money-transmitting business involving $30 million in cryptocurrencies.
The information came to light through court documents filed in the Southern District of New York....
Singapore Establishes Task Forces to Assist Police in Crypto-Related Crimes
18.10.2023
Singapore's Attorney-General's Office has officially established two specialized task forces, comprising approximately 20 prosecutors, tasked with addressing the crypto related crimes.
Deputy Chief Prosecutor of the Attorney-General's Chambers, Ong Shouren, told a local news outlet that...
Binance Aids Thai Police in Crackdown on Crypto-Related Criminal Networks
3.10.2023
Crypto exchange Binance has played a major role in aiding Thailand’s Royal Police in identifying and cracking down on several crypto-related criminal networks.
The company told Cryptonews that Binance’s investigations team alongside the Cyber Crime Investigation Bureau (CCIB) and the Royal Thai...
Ex-Deutsche Bank Investment Banker Faces Up to 30 Years in Prison for Crypto Fraud
21.9.2023
A registered broker and former investment banker with financial giant Deutsche Bank has pleaded guilty to defrauding investors into a fraudulent crypto fund. He is facing up to 30 years in prison and will be required to pay restitution of more than $1.5 million, according to the U.S. Justice...
Philippines SEC teams up with US counterpart to combat crypto fraud
20.9.2023
The Philippine SEC is now collaborating with the U.S. SEC and the Asian Development Bank to better combat crypto-related crime
UK to expand crypto crime agency, hiring spree underway
7.8.2023
The job involves investigating crypto fraud, money laundering and other blockchain-based crime performed by organized groups
Crypto Crime Plummets in 2023, Down 65% Overall, Chainalysis Says
17.7.2023
Cryptocurrency-related crime is down significantly this year, according to data by Chainalysis. Specifically, the blockchain analytics firm explained that crypto inflows to known illicit entities are down 65% compared to the previous year while inflows to risky entities are down 42%. Crypto Crime...