illegal transactions
Central Bank of Nigeria Bans Cryptocurrency Transactions, Says Crypto Breeds Illegal Activities
The Central Bank of Nigeria (CBN) has once again doubled down on its efforts to ban cryptocurrency transactions stating they are a breeding ground for illegal activities.
FinCEN Warns Social Media Companies Involved in Crypto to be Vigilant Regarding Illicit Transactions
The Financial Crimes Enforcement Network (FinCEN) has urged social media and messaging companies that are working with on cryptocurrencies to be vigilant about illegal transactions.
South Koreans transacted $4.3 billion through illegal crypto exchanges
In 2022, South Koreans transacted $4.3 billion through illegal crypto exchanges, comprising almost 70% of all illicit money traffic captured by officers. The transactions aimed to purchase foreign virtual assets to sell in the country later due to the South Korean regulatory regime isolating the local market.
California Man Pleads Guilty to Running Illegal Bitcoin ATMs and Money Laundering
Kais Mohammad has agreed to plead guilty to federal charges of operating an illegal Bitcoin ATM business that laundered over $25 million.
Shenzhen Warns Against the Resurgence of Illegal Activities Owing to the Promotion of Blockchain Technology
The Office of the Leading Group for Special Remediation of Internet Finance Risks in Shenzhen has warned about the seeming resurfacing of illegal activities as a result of interest in cryptocurrency.
US CFTC Charges BitMEX For Operating Illegal Crypto Derivatives Exchange
The United States CFTC has charged operators of BitMEX for operating an unregistered trading platform and violating anti-money laundering procedures.
Coinbase User Sues IRS for Illegal Seizure of Crypto Records
James Harper, a Bitcoin researcher, is suing the IRS, its commissioner, and nearly a dozen of its agents for violating his Fourth and Fifth Amendment rights—his right to privacy and right to due process—with their infamous Letter 6137 in July last year.
Authorities Uncover Illegal Bitcoin Mining Farm In Kyrgyzstan
Federal authorities have uncovered a large illegal Bitcoin mining site in Kyrgyzstan in the territory of the Bishkek Free Economic Zone.
Russia Plans to Build AI Software to Remove the Anonymity of Users in Crypto Transactions
The Russian agency’s plan involves using artificial intelligence (AI) for its software, as the agency sees an “urgent need to create effective opportunities for state control over the circulation of virtual assets.”
Is Blockchain the Missing Piece Needed in Curbing Illegal Fishing?
Illegal fishing is a predicament that is at times in oblivion despite it endangering marine ecosystems as it distorts their sustainability and biodiversity. Blockchain offers a distributed ledger technology (DLT) that can be helpful in fish tracking from the time it was captured to the moment it is consumed, and this approach can be instrumental in eradicating illegal fishing.
Estonia Revokes 500 Crypto Business Licenses in a Move Against Illegal Money Laundering Activities
Estonian authorities have recently revoked licenses from 500 crypto firms, and consequently tightened market regulations within the crypto sector.
Malaysian Authorities Shut Down Illegal Bitcoin Miners For $600K Power Theft
Malaysian police have shut down two illegal Bitcoin mining operations which had been siphoning power continuously for the past three years.
CipherTrace Unveils Crypto Predictive Risk Model to Combat Suspicious Transactions in Wake of Twitter Scam
CipherTrace, a cryptocurrency intelligence company, has introduced a predictive risk-scoring model to instantly avert money laundering of cryptocurrencies from ransomware attacks and theft.