Category: Crimes

Chinese police seized crypto assets worth $4.2B today from PlusToken Ponzi

November 27, 2020

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The PlusToken controversy, which has led to the arrest of 109 individuals so far, has also reportedly resulted in a titanic seizure of crypto assets by Chinese authorities worth $4.2 billion at today’s prices. According to court filings released publicly on Nov. 19 and posted by The Block, authorities seized a staggering 194,775 Bitcoin (BTC), 833,083 […]

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Exchanges outdo auctions for governments cashing in criminal crypto, says exec

November 27, 2020

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Earlier this week, Lithuania’s tax service, the Lithuanian State Tax Inspectorate, added $7.6 million dollars to the state budget through the sale of cryptocurrencies seized in criminal investigations.  The occasion marked the first time that the Lithuanian government liquidated confiscated cryptocurrencies. In doing so, the country joined the growing number of jurisdictions worldwide that have […]

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The long arm of justice: How far can the DoJ really go in prosecuting foreign actors?

November 21, 2020

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In early October, the U.S. Department of Justice revealed its Cryptocurrency Enforcement Framework, a report laying bare the government’s vision for emerging threats and enforcement strategies in the cryptocurrency space. The document is an important source of insight into how the laws governing digital finance will be soon implemented on the ground. One of the […]

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New Chainalysis program aims to help sort confiscated crypto

November 12, 2020

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What happens to crypto assets used for nefarious activities after authorities seize them? A new Chainalysis program helps sort through the rubble. 3636 Total views 20 Total shares In the 11 years since the inception of the crypto industry, malicious parties have used digital assets for a spate of illegal activities, from drug payments to […]

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Report: Crypto crimes declined in 2020, but DeFi hacks are on the rise

November 10, 2020

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The recent surge in DeFi makes the industry is an attractive target for hackers. 2657 Total views 33 Total shares Cryptocurrency-related crimes have slowed down in 2020, but some sectors within the crypto industry have become a new hotbed for criminal activity, a new report says. Citing major crypto analytics firm CipherTrace, Reuters reported on Nov. […]

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UN drugs and crime wing advises Kenya to use blockchain against corruption

November 3, 2020

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Blockchain can reportedly return billions of dollars back to Kenya’s budget. 3616 Total views 43 Total shares Blockchain technology can help countries like Kenya from losing billions of dollars to corruption, according to an official at the United Nations’ drugs and crime agency. David Robinson, the regional anti-corruption advisor at the UN’s Office on Drugs […]

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Latvian regulators warn public about cryptocurrency fraud

October 19, 2020

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Crypto remains underregulated, so Latvian investors need to be extra vigilant, says the FCMC. 1727 Total views 31 Total shares Latvia’s Financial and Capital Market Commission has identified suspect transactions and attempted fraud in the domestic cryptocurrency space. In an official warning published on Monday, the FCMC urged investors to “be particularly vigilant, as cryptocurrencies operate in […]

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