Category: Crime

Thorchain suffers $8 million loss by hacker wanting to ‘teach lesson’

Thorchain suffers $8 million loss by hacker wanting to ‘teach lesson’

Thorchain has been exploited for the third time in a month, bringing total losses to around $13 million. The platform, which looks after $100 million in funds, is designed for exchanging crypto tokens across different blockchains. In this attack, the platform was exploited for $8 million as the hacker was able to trick the network […]

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Thorchain suffers $5 million exploit, developers have put out a fix

Thorchain suffers $5 million exploit, developers have put out a fix

Cross-chain exchange Thorchain suffered a $5 million exploit on Friday. Since the attack, developers have put out an emergency release to fix the bug and have promised the treasury will be used to make the liquidity providers whole. The exploit was announced around 10: 23 UTC, with initial reports estimating the size of the hack […]

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Hong Kong Busts Money Laundering Ring Using Tether to Wash Millions

Hong Kong Busts Money Laundering Ring Using Tether to Wash Millions

Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. Money Laundering Syndicate Recycles $155 Million in Crypto and Fiat Transactions […]

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US government launches new anti-ransomware resource as part of broader campaign

US government launches new anti-ransomware resource as part of broader campaign

The U.S. Department of Justice (DOJ), U.S. Department of Homeland Security (DHS), and other federal entities have launched a new tool called StopRansomware.gov, according to a Thursday release from the DOJ.  This new resource consolidates information from federal agencies on ransomware, provides news updates on ransomware incidents, and provides a way for individuals to report […]

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How do law enforcement agencies ‘seize’ crypto?

How do law enforcement agencies ‘seize’ crypto?

Quick Take The United Kingdom’s Metropolitan Police confiscated another £180 million in crypto on July 13. The Block spoke to asset recovery experts about exactly how law enforcement agencies are seizing such vast sums of crypto. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on […]

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Hong Kong customs arrests four for $113 million crypto money laundering

Hong Kong customs arrests four for $113 million crypto money laundering

Law enforcement at the Hong Kong customs has arrested four suspects for allegedly laundering criminal proceeds through cryptocurrency in its first such crackdown.  The Hong Kong customs said the alleged syndicate laundered illegal funds totaling to HK$1.2 billion ($150 million) with a majority of them through Tether’s USDT, South China Morning Post reported on Thursday. […]

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Why is the world’s largest darknet market so hard to kill?

Why is the world’s largest darknet market so hard to kill?

Quick Take Darknet drug market Hydra operates relatively openly and has been around for much longer than most competitors. We explored reasons for Hydra’s longevity and prospects that recent attention on Russia’s domestic cybercrime industry will change the situation. This feature story is available to subscribers of The Block Daily. You can continue reading this […]

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Shanghai Law Enforcement Officials, Scholars Talk Cryptocurrency

Shanghai Law Enforcement Officials, Scholars Talk Cryptocurrency

Representatives of law enforcement agencies and academia in Shanghai held a seminar devoted to cryptocurrencies, regulations, and the combating of crypto-related crime. Determining “the legal attributes of virtual currency” was among the main topics at the forum which also focused on matters of financial supervision. Prosecutors and Professors Discuss Crypto Oversight in Shanghai Amid an […]

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