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US Indicts Two in $260M Bitcoin Heist and Laundering Scheme
23.9.2024
Two individuals have been arrested for orchestrating a large-scale cryptocurrency heist, stealing over 4,100 bitcoins. Their complex laundering operation involved using multiple mixers and VPNs to cover their tracks. With the stolen funds, they lived lavishly, buying luxury cars and other high-end...
FATF Urges India to Strengthen Virtual Asset Regulation
21.9.2024
India has achieved a high level of technical compliance with Financial Action Task Force (FATF) standards, addressing illicit finance, money laundering, and terrorist financing. In a joint assessment with regional bodies, the FATF praised India’s progress but pointed out areas needing...
Germany seizes 47 crypto exchanges tied to ‘underground economy’
20.9.2024
German authorities sent a loud and clear message to criminal users of the exchanges: We found their servers and have your data — see you soon
Chinese Tether laundromat, Bhutan enjoys recent Bitcoin boost: Asia Express
20.9.2024
Tether launderers sentenced as Bhutan’s Bitcoin hodling places it as the fourth largest among governments: Asia Express
German Government Shuts Down 47 Exchanges, Says They're Tied To ‘Illegal Activity’
19.9.2024
The German Attorney General's Office Frankfurt am Main (Generalstaatsanwaltschaft) and the country’s Federal Criminal Police Office (BKA) have shut down 47 crypto exchanges allegedly tied to criminal activities including money laundering
China’s Anti-Crypto Policies Threaten to Ripple Through Its Gaming Market
19.9.2024
Chinese authorities’ recent actions to define crypto as a money laundering tool could influence the performance of its billion-dollar gaming industry. SCMP’s Hugh Harsono argues that these measures may affect games like Metacene, which has introduced cryptocurrencies as in-game...
FBI Cracks Down on Illegal Gambling Network Using Fake Crypto
19.9.2024
A Denver resident has been convicted of running an illegal gambling business involving several parlors across Colorado. The scheme involved electronic games and a fake cryptocurrency to conceal the exchange of credits for cash, revealing fraud and money laundering. The only function of this crypto...
WazirX Hacker Begins Laundering $11.6M Eth via Tornado Cash
18.9.2024
In the aftermath of the WazirX hack case, the exploiter has recently moved 5,000 Ethereum (ETH) tokens. Moreover,…
Latam Insights: Brazilian Federal Police Cracks Down on $9.7 Billion Crypto Money Laundering Rings, Brazil Uses AI to Detect Crypto Tax Fraud
16.9.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue, Brazilian police dismantle $9.7 billion crypto laundering rings, Brazil uses an artificial intelligence (AI) tool to detect tax fraud linked to cryptocurrency...
Chinese gov't mulls anti-money laundering law to 'monitor' new fintech
14.9.2024
According to the Chinese government, 1,391 individuals have been prosecuted on money laundering-related charges in the first half of 2024
Chinese gov’t mulls anti-money laundering law to ‘monitor’ new fintech
14.9.2024
According to the Chinese government, 1,391 individuals have been prosecuted on money laundering-related charges in the first half of 2024
China Moves to Address Crypto Money Laundering Activities With New Law Draft Revision
14.9.2024
China is moving to update its legislation to tackle new money and cryptocurrency money laundering crimes. The Chinese Congress is set to introduce new money laundering concepts in the second review of the money laundering law draft revision, which will establish additional requirements...
Operation Niflheim: Brazilian Authorities Crack Down on $9.7 Billion Crypto Money Laundering Rings
12.9.2024
The Brazilian Federal Police dismantled an operation that used crypto to launder money from criminal sources, sending it abroad. Operation Niflheim involved the issuance of eight arrest warrants and 19 search and seizure orders against these groups that operated in Caxias do Sul, Sao Paulo...
Nigerian Agency Gets Nod to Freeze $330,000 in Crypto Users’ Bank Accounts
12.9.2024
A Nigerian anti-corruption agency froze bank accounts (over $330,000) belonging to suspected cryptocurrency users on global platforms like Kucoin and Bybit. The agency believes these users manipulated the Nigerian currency (naira) through their trading activity. The exchanges are also accused...
Indonesian Crypto Exchange Hit by $20.5M Hack, Lazarus Group Suspected
11.9.2024
Web3 security firm Cyvers detected suspicious transactions on Indonesian exchange Indodax’s wallets on September 11th. The attack involved over 150 transactions and digital assets worth an estimated $20.58 million are believed to have been stolen. Some experts suspect the North Korean...
Singapore’s Parliament Addresses Worldcoin Account Misuse and Privacy Risks
11.9.2024
Singapore’s Deputy Prime Minister Gan Kim Yong addressed concerns in Parliament regarding the risks of Worldcoin’s operations in Singapore, including potential money laundering through the sale of accounts. He emphasized that although Worldcoin does not perform a payment service under...
FCA Files First Charges Against Unregistered Crypto ATM Operator in UK
11.9.2024
The UK’s Financial Conduct Authority (FCA) has charged Olumide Osunkoya for operating unregistered crypto ATMs in the country. This case is significant as it represents the first prosecution under UK law for such activities. Osunkoya is accused of running a network of crypto ATMs that...
Owner of unlicensed UK crypto ATM network faces criminal charges
10.9.2024
The FCA is throwing the book at the head of GidiPlus Limited for operating an ATM network after being denied registration
Singapore probes illegal Worldcoin accounts and token sales
10.9.2024
Singapore investigates unauthorized Worldcoin account sales as regulators raise concerns over data misuse and criminal activity
First Seizure of Stablecoins Recorded in Argentina as Authorities Disrupt Money Laundering Operation
7.9.2024
In what local media are calling the first operation of its kind, the Argentine judicial system ordered the seizure of nearly $28,600 in stablecoins from a criminal organization that used cryptocurrency to launder millions of dollars. The criminals obtained these funds from two main activities:...