Criminals are still drawn to Bitcoin. The world’s leading cryptocurrency lacks anonymity and privacy. Even so, it is often used as a tool to hide monetary transactions. The first six months of 2019 have been rather telling in this regard. Over $4bn worth of Bitcoin has been stolen from investors during this period alone.
Criminals Want Your Bitcoin
It is a well-known fact that Bitcoin is often associated with criminal activity.
A 25-year-old man from Westwood, Los Angeles, is said to plead guilty to federal charges for having exchanged up to $25 million in cash and crypto without a license and anti-money laundering program.
Kunal Kalra, also known as “Kumar,” “shecklemayne” and “coinman,” was indicted on Friday for allegedly trading cash and crypto for individuals including drug dealers, partially via his bitcoin ATM kiosk.
An announcement from the U.
Many officials claim only criminals use Bitcoin. All of those people are in the wrong. Many people use cryptocurrencies for a wide variety of purposes. It is certainly true criminals favor Bitcoin due to its pseudonymity. One Norwich-based individual was sentenced for hacking and accepting cryptocurrency as a payment.
Teens Love Bitcoin Riches
One has to keep in mind cryptocurrencies have a certain allure.
A man has been sentenced in San Diego, California, for conspiring to sell drugs over dark web markets for cryptocurrencies.
Thirty-nine-year-old Sky Justin Gornik had pleaded guilty to using a number of marketplaces such as Alpha Bay, Trade Route, Abraxas, Evolution, Outlaw Market, and Dream Market to deal in fentanyl, carfentanil, ketamine, oxycodone, amphetamine and other drugs under various pseudonyms, according to a Department of Justice announcement on Monday.
A British man has been handed 20 months in jail and ordered to forfeit over £400,000 ($487,000) for offering hacking services and stolen private data in return for cryptocurrency.
Nineteen-year-old Elliot Gunton was sentenced at Norwich Crown Court on Friday, having pleaded guilty at a previous hearing, according to a local police news report.
After a U.N. report recently accused the North Korean regime of carrying out major cyberattacks of banks and crypto exchanges to fund its weapons of mass destruction programs, a longer version of the report has set out the claims in new detail.
As reported on Aug. 6, the earlier confidential U.N. report seen by Reuters – researched by “independent experts” and presented to the U.
Five people have been charged in Australia over a cold-call cryptocurrency investment fraud.
After an investigation by the Financial and Cyber Crime Group, State Crime Command, detectives allege that three men and two women duped over 100 investors into handing over A$2.7 million (around US$1.83 million) believing that they were generating significant profit.
That was not the case, however, according to a warning from Queensland police on Thursday.
A dark web drug dealer must forfeit $4 million in funds including bitcoin after pleading guilty to charges of money laundering and conspiracy to distribute controlled substances.
According to a press release from the Attorney’s Office of the Southern District of New York on July 25, Richard Castro – who went by the pseudonyms “Chemsusa,” “Chems_usa,” “Chemical_usa” and “Jagger109” while conducting his illicit trade – is alleged to have sold carfentanil, fentanyl, and a fentanyl analogue called phenyl fentanyl on dark web markets including AlphaBay and Dream Market from November 2015 to March 2019.
The U.S. Federal Bureau of Investigation (FBI) is hunting for evidence of insider trading and securities fraud relating to the 2017 blockchain pivot of then-beverage firm Long Island Iced Tea (LTEA).
According to a search warrant request, first reported by Quartz, the FBI is seeking to gain access to encrypted messages held on a phone seized in different case involving involving securities fraud at another firm, Kelvin Medical.
A 46-year-old resident of the U.S. state of New Jersey has been charged with running an unlicensed bitcoin exchange.
William Green of Monmouth County was indicted on one count of operating an unlicensed money transmitting business via the operation of a website called Destination Bitcoin.
Through the site, he allegedly accepted more than $2 million in cash, turning the funds into bitcoin for customers for a fee, the New Jersey Attorney’s Office said in a press release on Wednesday.
Crypto investor Michael Terpin has won an early victory in his attempt to sue telecom giant AT&T Mobility over a SIM-swapping hack that saw him lose a claimed $24 million.
In court documents published Friday, Los Angeles federal judge Otis Wright II ruled that AT&T must answer a lawsuit brought by Terpin for enabling the theft millions of dollars of cryptocurrency by giving access to his SIM card to hackers.
While the telco had requested that the court dismiss the lawsuit in its entirety, the judge decided that AT&T should answer to Terpin’s claims of violation of the Federal Communications Act, breach of contract, and other legal violations.
Any advancement in the technology world needs to be applauded. This is true even when it comes to disruptive yet controversial technologies such as facial recognition. The London Metropolitan Police has been using this technology for some time now and is noting some progress. Only eight in ten technology-based “hits” are incorrect, which is a notable improvement compared to several months ago.
Facial Recognition Isn’t Always the Answer
Anyone who lives in the United Kingdom may have kept tabs on how the London Metropolitan Police has begun experimenting with facial recognition technology.
Nearly 2.7 trillion won ($2.3 billion) have been lost to crimes involving cryptocurrency in the last two years, according to South Korean government data.
Figures provided by the country’s justice ministry on Sunday indicate that losses from crypto scams, Ponzi schemes, embezzlement and illegal exchange transactions came to 2.
The U.K. government has drawn up an action plan aimed to combat financial crimes that it says will include “action on cryptoassets.”
The new Economic Crime Plan from H.M. Treasury and the Home Office is aimed to overhaul the the way economic crime is tackled, building better cooperation between government, law enforcement and the private sector, according to an announcement on Friday.
The Ministry of Home Affairs in India plans to provide an all-expenses paid police training session to create “domain expertise” in cryptocurrency-related crime, according to a government filing.
The two day course, titled “Investigation of Cases Involving Crypto Currencies,” will cover a wide range of educational components, including an introduction to blockchain technology, a discussion of standing legal traditions, and interpretations of major crypto crimes.
A third defendant pleaded guilty in a string of court cases against a Toledo, Ohio-based fake ID ring that is said to have netted over $4.7 million in bitcoin, according to a report by The Blade.
Sarah Alberts, of Perrysburg, Ohio, admitted to charges of money laundering, conspiracy and knowingly possessing with intent to use unlawfully or transfer unlawfully five or more identification documents.
In the cryptocurrency world, there have been numerous scams over the past few years. Most of these ventures are shut down pretty quickly, but some tend to linger for quite some time. Typosquatting has been a real problem in the Bitcoin world. A joint collaboration between Europol, police agencies, and Eurojust resulted in multiple arrests throughout the European Union this week.
Bitcoin Typosquatting Ring is Brought Down
For those who are unfamiliar with typosquatting, this criminal activity is quite worrisome.
A fake exchange website has managed to steal €24 million (over $27 million) in cryptocurrency from thousands of victims.
European law enforcement agency Europol said in a press release Wednesday that six individuals have now been arrested over the scam in an operation that also involved the UK’s South West Regional Cyber Crime Unit and National Crime Agency, along with Dutch police and Eurojust.
U.S. authorities seized more than $200,000 worth of bitcoin after alleged drug manufacturer and dealer met with undercover law enforcement officers to exchange the digital currency for cash at a hotel in Norwood, Massachusetts.
The arrest — which occurred on March 27, 2019 — was part of a wider investigation into a Boston-based drug syndicate that operated through the darknet site EastSideHigh.
Europol has revealed it’s developing a game aimed to teach law enforcement officers how to tackle crypto crime.
Announced at the sixth Cryptocurrency Conference hosted at Europol’s headquarters from June 12–14, the European crime fighting agency said the game will allow officers to get “hands-on training and advice on tracing cryptocurrencies in criminal investigations.
The Australian Taxation Office (ATO) may soon crack down on major tax avoidance schemes using cryptocurrencies.
According to a report from The Sydney Morning Herald on Thursday, the ATO is working on 12 tax avoidance cases involving abuse of crypto assets. Notably, the agency’s deputy commissioner, Will Day, said at least one of the cases involve a “global financial institution,” which is suspected of hiding assets and income details of taxpayers.
A promoter of the now-shuttered crypto fraud BitConnect has again been charged over a different claimed cryptocurrency scam.
The Times of India reported Monday that police in the city of Ahmedabad, Gujarat, India, had received complaints that the promoter, Divyesh Darji, had been offering investors investment in a token called Regal Coin, claiming a possible 5,000-percent return.
The U.S. Securities and Exchange Commission (SEC) has taken action against what it alleges is a $30 million cryptocurrency scam based around supposed diamond investment.
In a press release Tuesday, the commission alleged that defendant Jose Angel Aman operated a purported crypto business called Argyle Coin as a Ponzi scheme, using investments from new recruits to returns to pay previous investors.
A 33-year-old Australian government employee has been charged after he was caught mining cryptocurrency at work.
In a media release Tuesday, the Australian Federal Police (AFP) alleged that the IT contractor from the Sydney suburb of Killara had modified government computer systems to mine cryptocurrency worth over AU$9,000 (US$6,184) for his own gain.
U.S.-based cryptocurrency investor and entrepreneur Michael Terpin has won over $75 million in a lawsuit related to a SIM-swapping fraud.
Terpin filed the case against 21-year-old Nicholas Truglia earlier this year, saying the Manhattan resident had defrauded him of cryptocurrencies after gaining control of his cellphone number. California Superior Court has now ordered Truglia to pay Terpin $75.8 million in compensatory and punitive damages, Reuters reported Saturday citing court documents.
Кто знает подойдет ли этот кошелек для постоянного приема в сатоши? Я просто майнить не решился, но написал несколько ботов для того, чтобы они собирали с кранов монеты. Я так понял, что это веб-кошел...