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Reports of Mining Sector Cleanup Put China’s Yunnan Province in the Spotlight
14.6.2021
Authorities in Yunnan are launching an investigation to identify and shut down miners that are illegally using electrical power to mint bitcoin, Chinese media reports. Inspections will also focus on potential safety hazards and will be carried out by various government departments. The mining...
FBI Seizes 800 Beverly Hills Safety Deposit Boxes With $86M, Attorneys Claim Fed’s Raid ‘Unconstitutional’
12.6.2021
The Federal Bureau Investigation (FBI) is under fire for an alleged unconstitutional seizure of 800 safety deposit boxes in Beverly Hills. According to reports, the FBI confiscated $86 million in cash, jewelry, and thousands of gold and silver bars. Box holders and their lawyers are calling out...
India Probes Cryptocurrency Exchange Wazirx in Chinese Money Laundering Case
12.6.2021
India’s Directorate of Enforcement (ED) has reportedly sent a notice to Wazirx, one of the largest cryptocurrency exchanges in India, under the Foreign Exchange Management Act, 1999, (FEMA). The investigation was initiated “on the basis of the ongoing money-laundering investigation into...
Liberian Central Bank Asks Local Crypto Startup to Drop its Plan to Launch a Digital Asset
15.5.2021
The Central Bank of Liberia (CBL) has warned against a local crypto startup’s plan to proceed with the introduction of a digital financial product without adhering to the required regulation. According to the CBL, this act will not only be illegal but this will likely “undermine...
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...
British Authorities Take Down Dark Web Ecstasy Gang, Seize $5.8M in Drugs
6.4.2021
The string of dark web gangs being cracked down by law enforcement is still alive across the world. Recently, the British authorities dismantled an unnamed dark web band known for selling ecstasy and gathering millions of dollars worth of crypto. Gang Sold Ecstasy, Amphetamine, and Diazepam...
Thai Central Bank Declares Baht-Pegged Stablecoin Illegal in Violation of Currency Law
21.3.2021
Thailand’s central bank has declared a stablecoin pegged to the Thai Baht illegal, citing violation of the country’s currency law. The Bank of Thailand (BOT) is currently working on a regulatory framework for stablecoins. Thailand Bans Baht-Pegged Stablecoin The Bank of Thailand,...
Bitmex Cofounder Ben Delo Surrenders to US Authorities— Arthur Hayes to Follow in April
17.3.2021
Legal issues with crypto exchange Bitmex’s cofounders still make the headlines. Benjamin Delo surrendered to the U.S. authorities, and Arthur Hayes agreed to make the same maneuver in April. Delo Released on a $20M Bail Bond According to Bloomberg, Bitmex’s cofounder Benjamin Delo...
US Authorities Take Action to Shut Down Crypto Trading Platform Allegedly Defrauding Thousands of Investors
19.2.2021
The New York attorney general and the U.S. Securities and Exchange Commission (SEC) have filed charges against a cryptocurrency trading platform that allegedly defrauded thousands of investors out of over a million dollars. US Regulators Allege Coinseed Operates Illegal Crypto Trading Platform...
Ukraine to Set up a Large-Scale Crypto Mining Data Center in a Nuclear Power Plant
30.1.2021
Ukraine’s government-owned nuclear power plant picked a firm to build a massive data center in Rivne for cryptocurrency mining operations. After a bidding process, Energoatom chose Kyiv Energy Construction Company to handle the nuclear plant crypto mining project. Nuclear Power Plant Operator...
Indian Doctors Warn of Illegal Covid-19 Vaccine Sales for Bitcoin: Citizens Urged to Wait for Government Approved Vaccine
14.1.2021
Indian doctors have warned that the sale of unauthorized Covid-19 vaccines on the black market, where vendors ask for bitcoin as payment, is illegal. According to the doctors, the unsanctioned marketing of the vaccine to the elite is prevalent in the state of Karnataka. Some doctors say the Indian...
$200 Billion in Fines: Mega Banks Rack up Penalties From Illegal Activities
28.12.2020
Top U.S. banks have racked up almost $200 billion in fines and penalties over the past 20 years from illegal activities in 395 major legal cases. Bank of America tops the list, followed by JPMorgan, Citigroup, and Wells Fargo, according to a new report, which also covers Morgan Stanley and Goldman...
Bulgarian Electricity Company Unveils Details of Historic Power Theft Linked to Illegal Bitcoin Mining
16.12.2020
One of the largest exporters of electricity in Europe has revealed details of the most significant theft they have had in history, linked to a massive illegal bitcoin mining farm in a small Bulgarian village. Bulgarian Electricity Company Uncovers Massive Electricity Theft Linked to Illegal Bitcoin...
A Pakistani Provincial Government Passes Crypto-Friendly Draft Resolution
4.12.2020
In Pakistan, a provincial government has passed a draft resolution on December 2, 2020, that demands the federal government to take steps towards legalizing both cryptocurrencies and crypto-mining activities. A Crypto-Friendly Draft Resolution Approval Sets a Precedent in Pakistan The Provincial...
Pakistan’s SEC Discusses Cryptocurrency Regulation, Central Bank Confirms No Crypto Ban
15.11.2020
The Securities and Exchange Commission of Pakistan has published a paper discussing cryptocurrency regulation in the country. Meanwhile, the central bank has reportedly confirmed that there is no cryptocurrency ban. Pakistan’s Crypto Regulation in the Works The Securities and Exchange...
Televend’s Complex System of Telegram Drug Bots Swell as German Police Seize 9 Telegram Drug Channels
12.11.2020
During the last few months following the departure of the infamous Empire darknet market (DNM), a great number of DNM users have been flocking to alternative vendors. More recently, a new bot service on Telegram called Televend has been attracting tens of thousands of users and the service...
A System of Robot Drug Dealers on Telegram Allows People to Buy Illegal Products for Bitcoin
13.10.2020
There’s a new avenue darknet market (DNM) customers have found that allows them to purchase illegal wares 24 hours a day via a robot drug dealer hosted on Telegram. The platform dubbed ‘Televend,’ is an automated software program that peddles illicit narcotics for people paying...
Bitmex Charged With US Rules Violations — Owners Face Criminal Charges, Prison
2.10.2020
Cryptocurrency derivatives trading platform Bitmex has been charged with illegally operating in the U.S. Concurrently, its executives, including CEO Arthur Hayes, have been charged with violations of the Bank Secrecy Act and are facing prison sentences. One of the Bitmex founders has already been...
US Federal Court Rules NSA Mass Surveillance Illegal, Credits Edward Snowden
3.9.2020
A federal appeals court has ruled that the U.S. National Security Agency (NSA) mass surveillance program that collected data on billions of Americans’ telephone calls was illegal and possibly unconstitutional. The program was exposed by former NSA contractor Edward Snowden. A Victory...
Iran Shuts Down 1,100 Illegal Bitcoin Miners; Whistleblowers Rewarded $2,400
23.8.2020
Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly shut down 1,100 illegal bitcoin mining farms in the country, local media reported. Whistle-blowers tipped off authorities on unauthorized miners following a July announcement of rewards including...