Category: Crime

U.S. prosecutors extradite one of five people that ran a crypto mining Ponzi scheme

U.S. prosecutors extradite one of five people that ran a crypto mining Ponzi scheme

U.S. prosecutors have extradited one of the five individuals that ran a cryptocurrency mining Ponzi scheme, the Department of Justice (DOJ) announced Monday.  Gutemberg Dos Santos, who has dual citizenship in Brazil and the United States, was extradited from Panama on November 25. Prosecutors indicted Dos Santos and four other individuals in connection to coordinating […]

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The SEC says it has brought 56 court cases on crypto since 2017’s DAO report

The SEC says it has brought 56 court cases on crypto since 2017’s DAO report

The U.S. Securities and Exchange Commission (SEC) has brought 56 court cases related to cryptocurrencies and ICOs since 2017, according to a new statement. A list of “Select SEC Accomplishments” covering May 2017 to the present time includes a short section on crypto-related issues, highlighting the founding of the SEC Cyber Unit, which is focused […]

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Blockchain analysis startup Chainalysis launches new service for managing seized crypto

Blockchain analysis startup Chainalysis launches new service for managing seized crypto

Blockchain analytics firm Chainalysis has launched a new service aimed at governments and law enforcement agencies looking to handle, monitor and dispose of seized crypto assets.  The new service is being offered in partnership with Asset Reality, a consulting firm that specializes in asset realization services for public and private sector clients. “Chainalysis is dedicated […]

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Former Microsoft employee sentenced in what IRS calls ‘first Bitcoin case’ involving false tax return

Former Microsoft employee sentenced in what IRS calls ‘first Bitcoin case’ involving false tax return

A former product tester for Microsoft has been sentenced to more than nine years in prison after being convicted of defrauding the tech giant and using bitcoin as a means to hide the funds he obtained. Volodymyr Kvashuk’s actions were first laid out in a July 2019 criminal complaint that was filed in the U.S. District […]

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Not-for-profit claims ING-owned payments firm helped facilitate boiler rooms and crypto scams

Not-for-profit claims ING-owned payments firm helped facilitate boiler rooms and crypto scams

An Austria-based not-for-profit organization has threatened legal action against a payments processor it has branded the “Dutch Wirecard.” The European Funds Recovery Initiative (EFRI), whose mission is to help victims of online investment scams, claims that Payvision, a company once valued at €360 million and now majority-owned by the Dutch bank ING, helped facilitate fraudulent […]

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U.S. officials seize ‘more than $1 billion in bitcoin’ they say was stolen from the Silk Road dark market

U.S. officials seize ‘more than $1 billion in bitcoin’ they say was stolen from the Silk Road dark market

The U.S. Justice Department has seized and is now seeking the forfeiture of thousands of bitcoins tied to the now-defunct Silk Road dark web market, with the holdings valued in excess of $1 billion. The Justice Department said in a statement that “[t]he seizure represents the largest seizure of cryptocurrency in the history of the […]

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KuCoin hacker switches mixer approach and opts for Wasabi Wallet: Elliptic

KuCoin hacker switches mixer approach and opts for Wasabi Wallet: Elliptic

Bitcoin from the September hack of KuCoin is once again on the move, according to the blockchain analytics firm Elliptic.  Previously, the hacker elected to use a service known as ChipMixer, The Block reported. Now they’re using Wasabi Wallet, a mixer through which multiple participants combine coins into one large transaction with numerous inputs and […]

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The KuCoin thief’s exploits reveal the cutting edge of digital money laundering

The KuCoin thief’s exploits reveal the cutting edge of digital money laundering

Quick Take After getting blocked by centralized exchanges, the KuCoin thief turned to DEXs to convert stolen tokens into ETH. In recent days the thief has used a second decentralized tool to throw investigators off the money trail. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily […]

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