Category: Crime

US Treasury publishes new sanctions guidance for crypto businesses

US Treasury publishes new sanctions guidance for crypto businesses

The U.S. sanctions watchdog is honing in on the crypto industry.  On October 15, the Treasury’s Office of Foreign Asset Control (OFAC) released a new brochure with crypto-specific guidance on navigating U.S. sanctions.  The actual contents of the guidance are not especially revolutionary, but largely push the idea that OFAC expects virtual currency operators to […]

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China’s escalated crypto mining crackdown sparks a new round of cat and mouse play

China’s escalated crypto mining crackdown sparks a new round of cat and mouse play

Quick Take Chinese authorities have developed sophisticated methods of cracking down on smaller, more discreet mining operations.  These smaller scale miners still have ways of evading detection, including striking deals with existing industrial factories, but the net is closing in.  This feature story is available to subscribers of The Block Daily. You can continue reading […]

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Democrats propose law to mandate disclosure of ransomware payments by US companies

Democrats propose law to mandate disclosure of ransomware payments by US companies

American companies targeted by ransomware attacks would be required to disclose payments made in connection with those incidents under a new law proposed in Congress. Introduced by Senator Elizabeth Warren (D-MA) and Representative Deborah Ross (D-NC), the Ransom Disclosure Act would, per an announcement from earlier this week: “[R]equire ransomware victims (excluding individuals) to disclose […]

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Department of Justice announces crypto-focused ‘enforcement team’

Department of Justice announces crypto-focused ‘enforcement team’

A senior U.S. Department of Justice official said Wednesday that the department is forming a “National Cryptocurrency Enforcement Team” focused on cybercrime and money laundering. Unveiled during the Aspen Cyber Summit, Deputy Attorney General Lisa Monaco said that the goal of the initiative was to “protect consumers.” “We want to strengthen our capacity to dismantle […]

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International authorities arrest ransomware gang members in Ukraine

International authorities arrest ransomware gang members in Ukraine

On October 4, Europol announced the arrest of two ransomware operators in Ukraine, part of a crackdown on a larger organized cybercrime group that targeted industrial groups in North America and the EU. The ransomware operators were not named, nor was the operating group or strain of ransomware they deployed. The only specifics were that […]

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Coinbase reports at least 6,000 user accounts compromised through exploited authentication bug

Coinbase reports at least 6,000 user accounts compromised through exploited authentication bug

Third-party actors exploited a bug in the multi-factor authentication (MFA) process at crypto exchange Coinbase, gaining access to at least 6,000 user accounts between March and May of this year. BleepingComputer first reported the developments, which were outlined in a message previously issued to affected users. The attackers obtained user account information then used a […]

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Supposed 17-year-old artist sells $138,000 worth of fake NFTs and disappears

Supposed 17-year-old artist sells $138,000 worth of fake NFTs and disappears

A supposed 17-year-old 3D digital artist performed what’s known in crypto lingo as a “rugpull” today, failing to deliver on a project and disappearing with all the money. The rug in question was an NFT project called Iconics. It promised to deliver 8,000 NFTs focused on “quality art.” The artwork took the form of 3D […]

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Chainalysis used an IP-scraping block explorer to aid law enforcement, leaked docs say

Chainalysis used an IP-scraping block explorer to aid law enforcement, leaked docs say

Documents leaked on the dark web and first reported by CoinDesk’s Danny Nelson show Chainalysis advertising its use of an affiliated wallet explorer as a means of gathering IP information to aid in police investigations. The deck — allegedly from a presentation to Italian law enforcement — noted that the firm had used WalletExplorer.com to […]

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$30M in ETH on the move after authorities confirm arrest of WEX exchange founder

$30M in ETH on the move after authorities confirm arrest of WEX exchange founder

Earlier this week, reports emerged that Polish authorities had arrested Dmitri Vasiliev, the founder of crypto exchange WEX, in Warsaw. Yesterday, as authorities officially confirmed that Vasiliev was in custody, $30 million in ether (ETH) started moving out of a wallet associated with WEX.  However, it appears that the actual handling of the funds could […]

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