Search
Report: Sudan Rejects Russian Illicit Gold Smuggling Allegations
14.3.2022
Sudan has denied claims Russian entities have smuggled hundreds of tonnes of illicit gold from its territory. Officials have called the allegations fake news and suggested that Sudan is in fact looking to revive its economy through gold mining. The Rise in Russia’s Gold Holdings The Sudanese...
US Secret Service Launches Crypto Awareness Hub to Educate the Public on Digital Asset Security
25.2.2022
The U.S. Secret Service has launched a cryptocurrency awareness hub. The new platform “will feature the latest in the agency’s work combating illicit use of digital assets as well as provide public awareness information on digital asset security and how to ensure it remains...
FBI Launches ‘Virtual Asset Exploitation Unit’ With Specialized Team of Crypto Experts
19.2.2022
The Federal Bureau of Investigation (FBI) has launched a new unit to tackle crypto exploitation. The new team will work with the National Cryptocurrency Enforcement Team of the Department of Justice (DOJ) to combat “the criminal misuse of cryptocurrencies.” FBI Establishes New Crypto...
4% of crypto whales are criminals and they have $25B between them: Chainalysis
17.2.2022
The report defines criminal whales as private wallets that hold more than $1 million worth of crypto with more than 10% of their balances coming from illicit addresses
Report Attributes Large Share of Global Crypto Crime to Russia, Moscow City
16.2.2022
The growing popularity of cryptocurrencies has placed Russia among the leaders in adoption. But while it is yet to reach the top of the ranking, the country already has a “disproportionate share” of global activity related to some forms of crime involving cryptocurrency, according...
US Treasury Warns NFTs May Present New Illicit Finance Risks
6.2.2022
The U.S. treasury department has warned that non-fungible tokens (NFTs) may present new illicit finance risks. According to industry estimates, the NFT market could reach $35 billion in 2022 and more than $80 billion by 2025. NFTs May Present Illicit Finance Risks The U.S. Department of...
Business Advisory Firm Expects Criminal Cryptocurrency Transactions to Fall by 30% by 2024
17.1.2022
Gartner, an advisory firm, has predicted that criminal cryptocurrency transactions or transfers will fall by 30% by 2024. The firm says factors such as the transparency of the blockchain, as well as the democratization of fraud prevention tools, will contribute to this decline in such transactions....
Report: Illicit Crypto Addresses Received $14 Billion in 2021, Only 0.15% of Transaction Volume Associated With Crime
8.1.2022
According to the latest data from Chainalysis, the total cryptocurrency value received by illicit addresses grew to a new all-time high of $14 billion in 2021. Although the new all-time high is almost twice the $7.8 billion that was recorded in 2020, it represents just 0.15% of the 2021...
Biden Administration Unveils Plan to Focus on ‘Prosecutions of Criminal Misuses of Cryptocurrency’
8.12.2021
The Biden-Harris administration has unveiled its strategy on “countering corruption.” It includes utilizing the government’s newly established task force, the National Cryptocurrency Enforcement Team, to focus on “complex investigations and prosecutions of criminal...
US and UK Agree to ‘Heighten the Focus on Illicit Use of Cryptocurrency’
22.11.2021
The U.S. and U.K. governments have “committed and agreed to heighten the focus on illicit use of cryptocurrency and ransomware,” the U.S. Department of Justice announced. According to the FBI, high crypto prices have partially made ransomware “incredibly lucrative for...
Joe Biden: US Bringing 30 Countries Together to Stop ‘Illicit Use of Cryptocurrency’
3.10.2021
President Joe Biden says that the U.S. will bring together 30 countries to stop “the illicit use of cryptocurrency.” The United States is “partnering closely with nations around the world” to respond to the cybersecurity threats, Biden further said. US Will Bring...
Blacklisted Suex Addresses Received Over $900 Million in Crypto, Report Reveals
23.9.2021
Cryptocurrency addresses allegedly used by Russian exchange Suex, recently placed under U.S. sanctions, have received more than $934 million in crypto assets, blockchain analysis suggests. According to the Treasury Department, over 40% of the platform’s transactions involved criminal actors....
US Sanctions Russian Crypto Broker Suex for Laundering Millions in Illicit Funds
22.9.2021
The U.S. Treasury Department has blacklisted Suex, a cryptocurrency broker based in Russia, for its money laundering activities. The platform is suspected of processing hundreds of millions of dollars in crypto transactions related to scams, ransomware attacks, darknet markets, and the infamous...
US Senator Requests Government Agencies Step Up Efforts to Prosecute Criminal Use of Cryptocurrencies
17.9.2021
U.S. Senator Margaret Hassan has requested that government agencies take “additional targeted steps to prevent and prosecute the use of cryptocurrency for criminal purposes.” She expressed her concern over “the rise in the use of cryptocurrency for criminal purposes.”...
Eastern Europe Sends Over $800 Million in Crypto to Scams in Single Year, Report Reveals
2.9.2021
Of all funds sent to illicit cryptocurrency addresses from Eastern Europe, scams attract the greatest amount, according to a new report. In the past year alone, crypto addresses based in the region have sent the fraudulent schemes a staggering $815 million in crypto. Eastern Europe Leads by Volume...
Crypto Crime Falls in China, Surges in Hong Kong, Reports Reveal
5.8.2021
China’s cryptocurrency transactions related to criminal activities have decreased significantly over the past couple of years, a new report suggests. At the same time, its special administrative region of Hong Kong is seeing a spike in crypto-related crime this year, with authorities...
Biden Makes Cryptocurrency a Focus of New Anti-Corruption Directive for National Security
4.6.2021
Cryptocurrency is a point of focus in President Joe Biden’s new directive aimed at combating corruption as a core national security interest of the U.S. An official of the Biden administration says that major parts of the directive will focus on cryptocurrency and cybercrime. Crypto a Focus...
Comparing the True Costs of Gold Mining in Africa With Those of Bitcoin Mining
24.5.2021
When billionaire Elon Musk announced that Tesla would no longer accept bitcoin as payment for its electric vehicles, the price of the crypto asset tanked. In justifying this decision, Musk cited bitcoin mining’s inefficient use of electricity as well as its impact on the environment. In fact...
OFAC Escalates Russian Sanctions Listing Bitcoin Addresses, US Treasury Crypto Crackdown Rumors Spread
18.4.2021
Rumors concerning the U.S. Treasury cracking down on several financial institutions over money laundering has been spreading like wildfire on social media and forums. There’s been no formal announcement from the U.S. entity and at this stage, the news is widely considered FUD. However, some...
South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’
10.4.2021
Adding to the South Korean cryptocurrency industry’s stricter regulations, the central government is focusing on the “crackdown” of illegal crypto transactions. A meeting over the week held with high-ranked politicians resulted in a campaign that will soon be deployed. Government...