money laundering

Recent events surrounding the crypto exchange Binance sparked significant debate about the United States’ crackdown on crypto firms. According to Omid Malekan, adjunct professor at Columbia Business School and author, the Department of Justice’s approach in the case is very different from what is ...

The financial services provider Mastercard revealed a new partnership with artificial intelligence (AI) firm Feedzai, according to reports from CNBC on Nov. 20. Mastercard says this integration aims to boost its ability to detect and prevent fraud routed through cryptocurrency exchang ...

Senator Elizabeth Warren has emphasized the risks of cryptocurrency scams targeting senior citizens in the U.S., with the support of a cybersecurity expert supporting her legislation on digital assets to prevent future scams.In a recent senate hearing, Warren outlined the significant incre ...

The United States Treasury Department is reportedly planning to expand its sanctions to designate cryptocurrency mixers as money-laundering hubs following Hamas’ attack on Israel.According to an Oct. 19 report in The Wall Street Journal, Deputy Treasury Secretary Wally Adeyemo said the add ...

United States-based crypto advocacy organizations are calling out Senator Elizabeth Warren and other lawmakers for some of the claims made regarding connections between the terrorist group Hamas and financing through cryptocurrency.On Oct. 17, Sen. Warren and more than 100 lawmakers signed ...

Crypto laundered through coin swaps, bridges, and decentralized exchanges (DEXs) has reached $7 billion, according to a report by analytics firm Elliptic. This figure surpassed the firm's previous estimate of $6.5 billion by the end of 2023 and had already been reached as of July 2023. Criminals are ...

Sam Bankman-Fried, facing charges of wire fraud, money laundering, and conspiracy, arrived 30 minutes late for the first day of his trial. He is accused of misappropriating customer funds from FTX. The trial started with neither the government prosecutors nor Bankman-Fried's defense team having rece ...

Blockchain analysis experts have uncovered an individual allegedly linked to a cryptocurrency money laundering operation selling stolen tokens from recent high-profile exchange hacks at discounted rates. These investigations led to an individual who is reportedly selling stolen cryptocurrency tokens ...

FTX Founder Sam Bankman-Fried's Trial and Potential Sentencing FTX founder Sam Bankman-Fried is set to stand trial next week in a case related to the operation and collapse of FTX and its affiliated hedge fund, Alameda Research. He faces multiple charges, including wire fraud, co ...

Roman Storm, the co-founder of controversial cryptocurrency mixer Tornado Cash arrested in August, has reportedly pleaded not guilty to all charges related to money laundering and violations of United States sanctions.According to an Sept. 6 X thread from Inner City Press, Storm pleaded no ...

Cryptoasset businesses in the United Kingdom could now begin withholding certain crypto transfers to comply with the new Travel Rule for crypto that came into effect on Sept. 1.The rules targeting virtual asset service providers were first introduced by the Financial Conduct Authority ...

Vauld, a Singapore-based crypto exchange, that has been ongoing bankruptcy proceedings since August 2022, has said that it received permission from the court to restructure its board. The new top management will lead the company’s bailout process. On Aug. 24, Vauld’s co-founder Darshan Bathija ...

A federal judge has sentenced former OpenSea product manager Nathaniel Chastain to three months in prison for wire fraud and money laundering related to insider trading on the platform. In an Aug. 22 announcement from the United States Department of Justice, U.S. Attorney Damian Williams said ...

United States prosecutors have put forward their proposed instructions to the jury ahead of the October trial for FTX co-founder Sam Bankman-Fried. The lengthy 100-page Aug. 21 filing breaks down how prosecutors would like presiding Judge Lewis Kaplan to instruct the jury in Bankman-Fried’s case ...

Payment operator Checkout has ended its partnership with Binance. The reason for the termination was "regulatory reports and sanctions," Forbes writes. Binance disagrees with Checkout and intends to challenge the decision in court. British credit card ...

The U.S. District Court for the Western District of Texas has dismissed a lawsuit by users of crypto-mixer Tornado Cash who claim the U.S. Treasury Department overstepped its authority by imposing sanctions on the service. Judge Robert Pitman dismissed a lawsuit filed by six Tornado Cash users ...

One-half of the couple alleged to have laundered billions of dollars worth of cryptocurrency has reportedly admitted he was behind the 2016 Bitfinex hack.According to an Aug. 3 CNBC report, Ilya Lichtenstein told a U.S. court he was the individual behind an exploit of cryptocurrency exchan ...

The husband and wife alleged to have laundered billions of dollars worth of Bitcoin connected to the 2016 Bitfinex hack have reached a plea agreement with authorities in the United States.According to records filed with the U.S. District Court for the District of Columbia on July 21, ...

The legal team representing the billionaire entrepreneur George Bachiashvili has issued a statement denying the criminal charges filed by the Prosecutor’s Office of Georgia, alleging that the businessman misappropriated Bitcoin (BTC) worth $39 million. On July 6, the prosecutor& ...

A renewed call from the Financial Action Task Force has asked countries to implement the “Travel Rule” to combat money laundering and terrorism financing activities enabled by cryptocurrencies.On June 23, the United Nations body — whose role is to promote strategies to co ...

Google Cloud recently announced the launch of its “Anti Money Laundering AI” (AMLAI) service after a successful trial with London-based financial services group HSBC.AMLAI uses machine learning to create risk profiles, monitor transactions and analyze data. Per a blog post from Google Clou ...

Reginald Fowler, a former NFL team owner, has been sentenced to six years of prison for operating as a “shadow bank” to the crypto sector, which involved over $700 million in unregulated transactions over a 10-month timespan in 2018.The 63-year-old, who was a co-owner of the Mi ...

Cryptocurrency exchange BKEX announced that it has suspended the withdrawal of client funds while a police investigation is conducted in connection with possible money laundering by several users. In a statement, the site stressed that it would cooperate as much as possible ...

Binance, the largest cryptocurrency exchange, announced that it will launch a new cryptocurrency trading platform in Japan this summer that will meet local regulatory requirements. Exchange executives explained that as part of Binance Japan's launch, the international platf ...

The Dubai Financial Services Authority (FSA), responsible for overseeing crypto regulation, said it has begun work on new rules to combat fraud, money laundering and terrorist financing. The agency assured that the Dubai FSA's updated principles will meet the regulatory r ...

European Central Bank (ECB) governor Fabio Panetta commented on the growing need, benefits and security of central bank digital currency (CBDC). European Central Bank (ECB) board member Fabio Panetta said the European regulator fully supports research into the digital e ...

The court in the Netherlands postponed the first hearing in the case of Tornado Cash cryptomixer protocol developer Alexei Pertsev until 2024. The decision was handed down on Wednesday, May 24, in Den Bosch. The local court explained that all hearing slots until the en ...

Russian Alexander Vinnik, who is under arrest in the U.S. on charges of laundering up to $9 billion through the BTC-e exchange, is trying to get him included in any prisoner exchange option between Moscow and Washington. The crypto-businessman would like the option of an ...

The attackers who recently hacked the Tornado Cash project offered to return control of the project to the cryptocurrency community. The information was made public by user Tornadosaurus-Hex on the Tornado Cash community forum. ...

Cryptocurrency mixer Tornado Cash suffered a serious attack - an unknown person gained full control over the protocol and has already started withdrawing TORN tokens. An analyst at investment firm Paradigm, using the Twitter pseudonym samczsun, reported that on May 20, so ...

The Pakistani government has announced a decision to suspend all types of cryptocurrency services available in the country. Finance and Revenue Minister Aisha Ghaus Pasha, in a speech to members of parliament, said cryptocurrency "will never be legalized in Pakistan." ...

The U.K. Parliament has released a 28-page report proposing to regulate cryptocurrencies that are not backed by real assets as gambling. The study stresses that such cryptocurrencies, including bitcoin and ether, could potentially be used for fraud and money laundering. ...

The head of the NCET, Eun-Yong Choi, said The department is interested in large platforms that violate AML and KYC rules The head of the US Justice Department's National Anti-Cryptocurrency Enforcement Team (NCET) Eun-Yong Choi declared "war" on CEX. She threa ...

American senators have advanced a cryptocurrency accountability bill in El Salvador (ACES), implying oversight of BTC acceptance in the Latin American country and risk analysis for the United States. On May 11, Senators Jim Risch of Idaho and Bob Menendez of New Jersey in ...

European Banking Authority (EBA) believes that central banks should impose a ban on large steblecoins if they pose a threat to the monetary policy of specific countries. It was stated by the chairman of EBA José Manuel Campa, speaking at a symposium on central banks and dig ...

U.S. Internal Revenue Service (IRS) Criminal Investigations Division and Ukrainian investigators began cooperating with Chainalysis analytical firm to track Russians evading sanctions with the help of cryptocurrencies. The IRS promised to sponsor the access of Ukrainian i ...

U.K. citizen pleaded guilty to large-scale hacking of celebrity accounts in social networks for bitcoin fraud. Joseph James O'Connor is recognized as one of the hackers who hacked the Twitter accounts of several celebrities in 2020 including American star Kim Kardashian, ...

This was a verification experiment by a member of the community He also used several other names from the OFAC sanctions list A Twitter user nicknamed "ZachXBT" posted the results of his experiment with the Gate.io platform yesterday, May 9. He registered on t ...

The UK Financial Conduct Authority (FCA) checked for illegal cryptomats in three cities: Exeter, Nottingham and Sheffield. The inspections were conducted with the participation of local law enforcement agencies. Now the regulator is studying the information gathered to de ...

It included nine unlicensed cryptocurrency exchanges Their sites were blocked and domains confiscated Law enforcement officials are investigating to determine the names of those involved Yesterday, May 2, the National Police of Ukraine published an of ...

A bill to combat money laundering through cryptocurrencies, which U.S. Senators Elizabeth Warren and Roger Marshall are working on, has been delayed for lack of sponsorship. Elizabeth Warren and Roger Marshall first introduced the bill in December. It was aimed at obliging ...

A 35-year-old resident of New Hampshire accused of engaging in illegal activities has been sentenced to 18 months in prison by the US District Court for dealing with cryptocurrency. According to prosecutor Jane Young, Aria DiMezzo exchanged fiat currencies, mainly US dollars, for bitcoin between ...

Republican congressmen recently introduced a bill regarding stablecoins that aims to eliminate the Securities and Exchange Commission's (SEC) oversight of digital stablecoins. The revised version of the bill would strip the SEC of its authority over stablecoins, except for algorithmic stablecoins ...

A Russian national, Denis Dubnikov, has been sentenced to three years of probation and ordered to compensate the victims of his alleged involvement in the distribution of Ryuk ransomware and money laundering. The Federal Court of Oregon has ordered Dubnikov to pay each Ryuk victim $2,000 in compe ...

The European Parliament has given its approval to the EU Cryptocurrency Regulation Bill (MiCA), a landmark piece of legislation that seeks to establish clear standards for the industry and safeguard the interests of crypto investors. The MiCA framework received strong support from 517 members of ...

Bitzlato, a popular cryptocurrency exchange, has recently refuted claims made in the media that Anatoly Legkodymov, one of its co-founders, has admitted to engaging in large-scale money laundering. Rumours started circulating online that Legkodymov, who was arrested by the FBI in mid-January, was ...

Probably, many have noticed that the fall of bitcoin often causes the fall of the entire crypto market.. This phenomenon is also known as crypto-infection. What is crypto infection Crypto infection is a situation when a negative phenomenon assoc ...

The Seychelles Ministry of Finance has announced the initiation of a regulatory framework for the cryptocurrency industry in order to protect users from risks. During a meeting of the National Assembly, Finance Minister Naadir Hassan explained that the government is developing requirements for th ...

The Department of Justice in the United States has made a groundbreaking announcement stating that they have seized digital assets worth approximately $112 million from cybercriminals who were involved in cryptocurrency fraud and money laundering. According to the US Department of Justice, six ac ...

FIC South Africa has taken measures to combat financial crimes, including those related to digital assets and blockchain technology. To this end, the agency has created a specialized forensic unit that will work in conjunction with existing FIC structures to assist law enforcement in financial cr ...

The senator has revealed her plans for the upcoming election campaign, which will focus on addressing the issues surrounding cryptocurrency companies and forming a strong coalition of opponents against crypto assets. Elizabeth Warren has shared her campaign thesis, expressing her long-standing op ...

Former FTX CEO Sam Bankman-Fried is facing accusations from the US Justice Department of paying $40 million in bribes to Chinese officials to unfreeze accounts linked to Alameda Research, FTX's investment arm. The Justice Department has released a revised indictment alleging that Bankman-Fried tr ...

MEPs have taken a significant step towards combating money laundering, terrorist financing, and sanctions evasion by approving a cap of 1,000 euros on unverified user crypto transactions. The European Parliament issued a press release stating that the new bill establishes a "single set of rules" ...

Following the announcement of the US Commodity Futures Trading Commission (CFTC) indictment against Binance, the largest cryptocurrency exchange, users began withdrawing funds from their accounts, with a total of over $1 billion in cryptocurrency being withdrawn. The CFTC alleged that Binance was ...

Law enforcement authorities in the United States have taken possession of 18 cryptocurrency ATMs from Coindawg LLC, a company that allegedly acquired them with funds obtained fraudulently from the state. Coindawg founder Charles Riley Constant has been accused of applying for loans from the U.S. ...

The Bitzlato crypto exchange's former co-founder is appealing to the cryptocurrency community for assistance in locating US citizens willing to act as his guarantors in court. The Russian national has been in US custody for the past two months, awaiting trial on money laundering charges. On March ...

WazirX, an acclaimed cryptocurrency exchange operating in India, recently released a report stating that a total of 2,431 accounts were blocked on their platform between October 2022 and March 2023 for breaching platform policies and regulations. Over this period, the exchange was also contacted ...

It is important to note that allegations of money laundering against Bitzlato by foreign law enforcement officers have not been proven and the company has denied any wrongdoing. However, the company has provided instructions for users to withdraw their funds. Users of Bitzlato are advised to che ...

It seems that FTX, a cryptocurrency exchange, has been involved in a scandal in which its founders and key employees received large sums of money, mostly from a subsidiary of Alameda Research. The total amount received was $3.2 billion, with $2.2 billion going to FTX creator Sam Bankman-Fried. ...

Europol, in collaboration with the FBI and law enforcement agencies in several European countries including Germany, Belgium, Poland, and Switzerland, has taken down ChipMixer, a crypto mixing service that was suspected of laundering over $2.92 billion. During their operation, intelligence offici ...

Bitzlato Crypto Exchange Allows Depositors to Withdraw Funds After AML Services Mark Coins as High-Risk. On March 1, Bitzlato, a cryptocurrency exchange accused of money laundering by foreign law enforcement, announced in a Telegram channel that depositors can start withdrawing their funds. The ...

"Former FTX Technical Director Pleads Guilty to Criminal Charges and Agrees to Cooperate with Authorities" Nishad Singh, an ex-technical director of the bankrupt cryptocurrency exchange FTX, has officially pleaded guilt ...