illicit
White House Cracks Down on Cryptos Used for Purchasing Illicit Drugs
The White House issued two advisories on illicit drug purchases in the United States on Wednesday, referencing the role of cryptocurrencies allegedly used in these transactions.
Iran Government Offers Up To 20% Reward To Anyone Who Exposes Illicit Cryptocurrency Mining In The Country
Iran just offered a reward to anyone who exposes illicit cryptocurrency mining in the country.
Bitcoin and Anonymous Tokens Used in Illicit Child Porn Activities—Crackdown by Spanish Authorities
According to a recent report by Guardia Civil, Spanish authorities arrested several individuals involved in illicit crypto-driven child porn activities. Within the Kiru criminal operation ring, a man was detained for abusing his stepdaughter and using her to generate content for an illegal child porn website. Digital payouts were then made to an offshore account.
Binance CEO Highlights Disproportionate Narrative on Illicit Activities in Crypto versus Fiat Currencies
Dr. Andrzej Gwizdalski and Binance CEO Richard Teng's analysis reveals traditional fiat currencies are involved in more illicit activities ($3.2 trillion annually) than cryptocurrencies ($20 billion), prompting a rethinking of the narrative.
Over 115 Billion USDT Used in Southeast Asia's Illicit Activities in 2022: Revealed Bitrace
Bitrace, a blockchain analytics firm, revealed that 115 billion USDT was involved in illegal cryptocurrency activities in Southeast Asia in 2022, highlighting the transparency of blockchain ledgers.
Crypto Scam Revenue Has Dropped by 65% in 2022: Chainalysis
Illicit crypto volumes have been diminishing year-over-year, with scams taking the lion’s drop share, according to a report by blockchain analytic firm Chainalysis.
US House Committee to Probe Crypto Crimes in November Hearing
The US House Financial Services Committee will hold a hearing today, November 15, 2023, to examine illicit cryptocurrency activities, including money laundering and terrorist financing, and discuss the Department of Justice's focus on these crimes.
THORSwap Resumes Operations with Enhanced Security Measures to Combat Illicit Funds Transfer
THORSwap, a decentralized exchange (DEX) leveraging the THORChain protocol, resumed operations on October 13, following a temporary shutdown to address concerns of illicit funds transfer. The platform has enhanced its security measures, updated its terms of service, and partnered with an industry leader to prevent the movement of illicit funds. Although the move was met with mixed reactions from the community, it underscores THORSwap's commitment to providing a secure trading environment amid rising regulatory pressures in the DeFi sector.
South Korean prosecutors trace millions in illicit funds tied to Terra co-founder
South Korean prosecutors have identified $314.2 million in illicit assets linked to Do Kwon and Terraform Labs. Kwon reportedly converted most of the funds into Bitcoin using overseas exchanges, making it difficult for the authorities to recover the assets. Terra experienced a $40 billion collapse in May 2022 due to fraud, with Kwon at the epicenter. Kwon was recently caught by authorities in Montenegro after evading arrest for nearly a year.
Cross-Chain Crime Hits $7B: North Korean Ties Unveiled
The recent revelation by Elliptic highlights a troubling surge in cross-chain crime, now amounting to $7 billion, with North Korean affiliated Lazarus Group playing a significant role. These findings from the 2023 edition of 'The State of Cross-chain Crime' report, outstrip previous forecasts, underscoring an urgent call for bolstered security measures and refined blockchain analytics to confront the escalating menace.
South Korea Authorities Investigate Crypto Hacking and Illicit Trading on Exchanges
South Korea authorities are investigating cryptocurrencies hacking and illicit trading, focusing on cracking down on such practices, raising concerns about potential consequences for those involved.
Circle Formally Refutes Allegations of Illicit Financing and Connections to Justin Sun
Circle denies CfA's allegations of illicit financing and Justin Sun ties, emphasizing regulatory compliance and advocating for stronger stablecoin laws, as clarified by Dante Disparte.
Bitcoin and Bad Guys
With Bitcoin a growing number of people have been choosing to opt-out of the traditional financial system, and others have even chosen to use the cryptocurrency to circumvent regulation altogether, leading to its unfortunate connection with illegal activity and shady characters.
Silk Road Programmer Pleads Guilty for Covering Up His Darknet Involvement to FBI and IRS
Silk Road computer programmer Michael R. Weigand pleaded guilty for providing false statements regarding his involvement with the darknet marketplace.
US Army Reveals That North Korea Has A Legion of 6,000 Hackers Working for the Nation
In a tactical report, the US Army unveiled that North Korea possessed government-based divisions assigned to cryptocurrency and crypto cybercrimes.
Darknet AlphaBay Moderator Paid in Bitcoin Sentenced to 11 Years in Prison
A darknet moderator for marketplace AlphaBay has been apprehended by law officials and sentenced to 11 years in prison.
Darknet Marketplace Empire Alleged to Have Exit Scammed with $30 Million Worth of Bitcoin
Darknet digital marketplace Empire Market appears to have exit scammed and made off with a hefty profit of 2,638 Bitcoin (BTC).
India Darknet Policing Ramps Up Following Drug Racket Arrests
Law enforcement agencies in India are teaming up with national research and academic institutions to enhance their ability to police the darknet.
Darknet Empire Offline for Days Has Users Fearing DDoS Attack and Looming Scam
A popular darknet marketplace, Empire Market, has been reported to be offline for over 48 hours, making website users fretful as to the cause behind it.
US Department of Homeland Security Can Now Trace Illicit Monero Cryptocurrency Transactions
The United States Department of Homeland Security will now be able to track transactions of the most privacy-oriented cryptocurrency coin Monero (XMR).
New Darknet Markets Launch Despite Exit Scams as Demand Rises for Illicit Goods
Despite the recent amount of exit scams on dark web platforms, the darknet sector has seen increasing growth, with new marketplaces launching every year.
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.
One Million Bitcoin Held By Dark Web Marketplaces and Cybercriminals, Chainalysis Data
Data from Chainalysis reveals that almost one million Bitcoin is circulating on the dark web between bad actors and illicit darknet markets.
CipherTrace Unveils New Compliance Software For Banks Against Illicit Crypto Transactions
CipherTrace launches Armada to fix the blind spot in cryptocurrency compliance
Binance Sued for Cashing Out Illicit Hacked Funds Worth More Than $9 Million
Binance has been taken to court by Fisco, a Japanese crypto exchange, for allegedly facilitating the liquidation of at least $9 million in crypto after the latter was hacked in 2018.
CipherTrace Life Hack for Criminal Investigations: How to Know if Cryptocurrency Was Utilized
CipherTrace blockchain analytics firm has revealed guidelines that could help law enforcement identify that cryptocurrency was used for illicit activities.
Ripple and Chainalysis to Discuss How Crypto for Crime and Child Exploitation Can Be Prevented
An illicit way in which cryptocurrencies have been used in the digital age has been to drive the distribution of child sexual abuse material (CSAM).
Leaked FinCEN Files: $137M Linked to Crypto Ponzi Scam OneCoin Laundered Through Bank of New York Mellon
A leaked trove of US official documents revealed that five major banks were involved in illicit transactions pertaining to mobsters and crypto Ponzi schemes.