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India and US Team Up To Tackle $360M Crypto-Funded Drug Ring
30.4.2024
Indian and US authorities teamed up in a search operation in Uttarakhand to uncover a $360 million crypto-funded drug ring.
The post India and US Team Up To Tackle $360M Crypto-Funded Drug Ring appeared first on Cryptonews
South Korean Police Arrest 49 in Crypto-powered Drug Trading Bust
24.4.2024
South Korean police have arrested 49 people in a raid on a suspected crypto-powered drugs trading gang, officers announced on April 23.
The post South Korean Police Arrest 49 in Crypto-powered Drug Trading Bust appeared first on Cryptonews
South Korean Police Arrest 452 People on Crypto-powered Drug Trafficking Charges
29.2.2024
South Korean police continue to wage “war” on crypto-powered drug trafficking, with officers in the capital Seoul making 452 arrests from June 2022 to December 2023.
The post South Korean Police Arrest 452 People on Crypto-powered Drug Trafficking Charges appeared first on Cryptonews
Australian Police Officer in Court for Stealing Nearly 82 BTC From Seized Drug Trafficker’s Wallet
20.2.2024
An Australian police officer recently appeared in a Melbourne court where he faced charges of stealing 81.616 bitcoins from a crypto wallet seized from drug traffickers. After initially blaming the drug traffickers,’ the Australian Federal Police later reopened the case after an expert found...
Illicit Virtual Asset Use On The Rise, U.S. Treasury Report Reveals
7.2.2024
The U.S. Treasury Department is seeing an increase in illicit crypto use according to a Thursday report. The department’s 2024 National Risk Assessments on Money Laundering, Terrorist Financing, and Proliferation Financing report highlights that virtual assets are increasingly used by illicit...
South Korea ‘Blighted by Crypto-powered Drug Pollution’ – Report
2.2.2024
South Korea’s crypto-powered drug trading epidemic is seeing the country become “polluted” with dead-dropped narcotics, a new report has claimed. Per Ilyo Shinmun, a 59-year-old man who was arrested for drug offenses told police that he had not bought the narcotics he was caught taking. Instead...
Defendant Pleads Guilty to Drug Related Charges, Forfeits $150 Million Worth of Cryptocurrency
30.1.2024
An Indian national has pleaded guilty to conspiracy and narcotics-linked charges issued by a United States District Court. The guilty plea resulted in a forfeiture of $150 million worth of cryptocurrency. In a recent press release, the United States Attorney General’s Office in the Southern...
Indian National Pleads Guilty in Case Involving ‘Largest Single Cryptocurrency and Cash Seizure in DEA History’
30.1.2024
An Indian national has pleaded guilty in a case involving “the largest single cryptocurrency and cash seizure” in the U.S. Drug Enforcement Administration (DEA) history. The defendant “is designated as a Consolidated Priority Target, which makes him one of the most significant...
US Government to Sell $116 Million in Bitcoin Seized From Darknet Dealer ‘Xanaxman’
26.1.2024
The forfeiture division of the U.S. government has announced its plan to sell 2,933.64 bitcoin. These were confiscated from Ryan Farace, who faced charges in 2021 for laundering proceeds from drug trafficking. Farace, also known by his alias Xanaxman, disclosed in his plea agreement that...
U.S. Government to Auction $117 Million in Confiscated Bitcoin from Silk Road Case
26.1.2024
The U.S. government has filed a notice revealing its plans to auction approximately $117 million worth of Bitcoin (BTC) that was seized during a dark web drug bust. In a notice dated January 8, the government said it aims to auction nearly 2,875 BTC seized from Ryan Farace and Sean Bridges in 2021...
South Korean ‘Crypto Drug Dealer’ Jailed for 7 Years
25.1.2024
A South Korean court has sent a drug dealer who sold narcotics to crypto-paying “customers” to jail for seven years. Per the news agency Yonhap, the Criminal Division of the Busan District Court also ordered the unnamed individual – referred to by the media as “A” – to pay a fine of over $9,000....
Senate Coalition Grows to Crack Down on Crypto’s Use in Illicit Finance
13.12.2023
U.S. Senator Elizabeth Warren’s bill to crack down on crypto’s use in illicit finance has gained more support among lawmakers. “The Treasury Department is making clear that we need new laws to crack down on crypto’s use in enabling terrorist groups, rogue nations, drug lords...
Senator Warren’s Bipartisan Push to Combat Crypto Money Laundering Gains Momentum
12.12.2023
Source: Screenshot of video Sen. Elizabeth Warren’s YouTube page Senator Elizabeth Warren (D-Mass.) has announced an increase in support for the bipartisan Digital Asset Anti-Money Laundering Act, which aims to tackle concerns around the use of crypto in illegal activities such as money laundering...
JPMorgan CEO Jamie Dimon Says He’d Close Crypto Down if He Were the Government
8.12.2023
JPMorgan Chase CEO Jamie Dimon told U.S. senators in a congressional hearing that he would close down crypto if he were the government. Emphasizing that he has always been “deeply opposed” to crypto and bitcoin, the executive stressed that the true use case of crypto is criminals, drug...
JPMorgan Chase CEO Jamie Dimon on Crypto: “If I was the government, I’d close it down”
6.12.2023
  JPMorgan Chase CEO Jamie Dimon delivered scathing remarks about the crypto industry during testimony at a Senate Banking Hearing Wednesday. Dimon “deeply opposed” to crypto “I’ve always been deeply opposed to crypto, Bitcoin, etc.,” Dimon said while fielding questions from Senator Elizabeth...
South Korean Police Arrest 48 in ‘Crypto-powered Drug Trafficking’ Raids
30.11.2023
Source: Angelov/Adobe Police in the South Korean city of Daegu say they have raided a “drug trafficking organization” that used crypto as a payment tool – and arrested 48 people. Per Chosun Ilbo, the Daegu Police Agency’s metropolitan investigation unit arrested 44 people connected to a suspected...
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...
U.S. Authorities Seize $54 Million Worth of Crypto from a Drug Ring Leader
3.11.2023
The U.S. Attorney’s Office is aiming to recover $54 million of crypto in Ethereum from Christopher Castelluzzo, a convicted drug distributor. On Nov. 2, U.S. Attorney Philip R. Sellinger filed a civil forfeiture action. The goal is to reclaim the seized cryptocurrency. This crypto is linked...
Prisoners’ Dreams to Stash $54M in Crypto in Exotic Locales Dashed as Feds Grab Them for Treasury
2.11.2023
Federal law enforcement has seized $54 million worth of cryptocurrencies from the leader of a notorious New Jersey drug ring, U.S. Attorney Philip R. Sellinger said Thursday in a statement
UK Lawmakers Roll Out Legislation to Seize Cryptocurrencies Used for Illegal Purposes
26.10.2023
The UK Parliament has passed a bill that allows law enforcement authorities to seize cryptocurrencies associated with illicit activities. This includes investment scams, hacks, terrorism financing, money laundering, and drug trafficking. Per an official announcement on its website, the new bill...