Reported by: Alix Langone The US Department of Justice has launched a criminal investigation into $372 million in stolen FTX assets, according to a new report from Bloomberg. The probe, which is independent of the fraud case against FTX co-founder Sam Bankman-Fried, centers on more than $370 million that went missing mere hours after the cryptocurrency […]
Reported by: Alex Zeltcer Anti-money laundering (AML) measures, such as Know Your Customer (KYC), that crypto operators are also required to follow have been a boon for fraudsters who know where the loopholes are in this legislation. The fact is, however, that over 75% of all fraudulent activity comes from KYC-verified accounts. That statistic should […]
Reported by: Team Giottus Part of the reason why the NFT market is now being looked at with suspicion is the fact that unlike crypto, KYCs are not mandated to trade NFTs. NFT trade happens between wallets and not identified individuals, which makes NFT money laundering a very real possibility. As an investor, how can […]
Reported by: TMZ and Unchained by Laura Shin Disgraced FTX founder Sam Bankman-Friedmust be worried about serious prison time for his multiple fraud charges … but have no fear — because “Pharma Bro” Martin Shkreli‘s advice is to listen to some rap before hitting the slammer. Shkreli, the once-pharmaceutical exec and hedge fund manager, offered his questionable […]
Reported by: Alvin R Cabral More than $8 million worth of cryptocurrency has been stolen from the wallets of BitKeep users in an apparent cyber attack, the latest exploit to hit a decentralised finance network. BitKeep users reported through social media that their funds were being transferred without any activity on their end, online industry tracker Cointelegraph reported on […]
Reported by: Brad Hunter A Canadian man called the “Chinese El Chapo” who allegedly ran a meth empire that spanned the planet has been extradited to Australia. Cops say that Tse Chi Lop, 59, is one of the “most high-profile arrests” ever made by Aussie police. His extradition from the Netherlands culminates a long-running probe […]
Reported by: Serah Louis From Kim K to the Paul brothers, influencers are shelling out investing advice and touting risky tokens over social media and it’s often their young followers who are left paying the price if the market plunges. Bitcoin’s track record serves as an example of just how volatile that market can be. There’s […]
Reported by: Anna Baydakova Known cryptocurrency payments to ransomware hackers “totaled a mere $16 million, compared to nearly $74 million USD in 2021,” blockchain intelligence firm Crystal Blockchain says. This may be surprising given the fact that the number of ransomware attacks has increasedsince 2021, according to cybersecurity researchers. This year, the notorious Contiransomware gang, known for […]
Reported by: GRAHAM STACK Latvia’s financial authorities shuttered one of the oldest banks in the country for its lax financial crime controls. The bank intended to accept a financial injection from shareholders who failed to explain the origin of their money. Before closing it, the Financial and Capital Market Commission (FCMC) raided the headquarters of […]
Reported by: Lawrence Richard FOXBusiness Two former associates of FTX founder Sam Bankman-Fried pleaded guilty to charges the Securities and Exchange Commission (SEC) filed against them Wednesday as part of a multiyear scheme to defraud investors. Former Alameda Research CEO Caroline Ellison, 28, and former Chief Technology Officer of FTX Trading LTD Zixiao (Gary) Wang, 29, secretly […]
Financial Crime News Briefs 