Reported by: Brian McGleenon Russians are selling rubles (RUBUSD=X) for crypto in an effort to evade sanctions and settle cross-border payments, a money laundering expert has claimed. Due to the sanctions that prohibit Russian businesses from making international settlements in US dollars, companies and individuals are now turning to crypto as an alternative. Cryptocurrency activity in both […]
Reported by: BRIAN QUARMBY Announced on Oct. 6, the latest set of EU sanctions on Russia stipulates a full ban on the provision of crypto-asset wallets, accounts and custody services, regardless of the total value of the assets. Following the sanction announcement, Dapper stated that accounts with connections to Russia will no longer be able to sell, purchase […]
Reported by: Daniel Van Boom The Lazarus Group, a hacking outfit associated with North Korea’s government, managed to drain over $600 million in crypto from a blockchain used by NFT game Axie Infinity. North Korean hackers stole $840 million in the first five months of 2022, according to Chainalysis data, over $200 million more than they’d plundered […]
Reported by: TAYLOR LOCKE Criminals have increasingly used decentralized exchanges (DEXs), cross-chain bridges, and coin-swap services for money laundering, a new report by blockchain analysis firm Elliptic shows. Though use of each typically is “overwhelmingly legitimate,” criminals so far have laundered over $4 billion in illicit crypto through the three services since 2020. “This expansion […]
Reported by: Steve Kaaru Digitex started operations in April 2020 after months of running its beta under which users could only purchase its native DGTX tokens. Just before it launched, it was hit by a data breach in which sensitive data for over 8,000 users was stolen and some of it leaked. Following the breach, […]
Reported by: Arjun Kharpal Pro-Russian groups are raising funds in cryptocurrency to prop up paramilitary operations and evade U.S. sanctions as the war with Ukraine wages on, a research report published Monday revealed. As of Sept. 22, these fundraising groups had raised $400,000 in cryptocurrency since the start of the invasion on Feb. 24, according […]
Reported by: Danny Nelson Kim Kardashian’s $1.26 million regulatory fine this week for improperly touting a cryptocurrency raises many questions, but a big one is this: what the heck is EthereumMax (EMAX), the token she shilled? Though the name begins with Ethereum, it’s not the second-largest cryptocurrency, but rather a token built on top of […]
Reported by: Techgh24 Over the past year, the Binance Investigations team has conducted and participated in more than 30 anti-cyber and financial crimes workshops with law enforcement in various countries including Argentina, Brazil, Canada, France, Germany, Israel, Netherlands, Philippines, Sweden, South Korea, the UK among others. The training programme is led by leaders from the […]
Reported by: U.S. Securities and Exchange Commission The Securities and Exchange Commission today announced charges against The Hydrogen Technology Corporation, its former CEO, Michael Ross Kane, and Tyler Ostern, the CEO of Moonwalkers Trading Limited, a self-described “market making” firm, for their roles in effectuating the unregistered offers and sales of crypto asset securities called […]
Reported by: Katherine A. Lemire While Congress has repeatedly sought to enhance the anti-money laundering (AML) laws and penalties, federal regulators have played a critical role in updating and enforcing these regulations as they apply to cryptocurrency businesses. States, meanwhile, have also inserted themselves into this regulatory mix. The legal and regulatory framework of the […]
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