Category: crime
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US Treasury Charges Bittrex of violating sanctions, and the cryptocurrency exchange agrees to make a deal with the regulator
The Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) of the U.S. Treasury department announced on October 11 that charges against the cryptocurrency exchange Bittrex had been resolved. Between March 2014 and December 2017, the cryptocurrency exchange was charged with breaking sanctions and failing to “implement effective sanctions compliance controls.”…
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India freezes bitcoin at Binance amid a Wazirx cryptocurrency exchange investigation
More than 77.6 bitcoins that were transferred from the Indian cryptocurrency exchange Wazirx to Binance have reportedly been frozen by India’s Enforcement Directorate (ED). An investigation into money laundering involving a mobile gaming app is what prompted the freeze. According to India’s Prevention of Money Laundering Act, the Directorate of Enforcement (ED) announced on Wednesday…
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Egyptian Central Bank Issues Crypto Warning: Offenders Face Jail
The Central Bank of Egypt (CBE) has once again warned against the use of cryptocurrencies, noting that offenders risk jail time. According to the law of the Egyptian central bank, it is unlawful to “issue, trade, or promote cryptocurrencies, create or operate platforms for their trading, or engage in related activities.” According to Tuesday’s report…
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Europol Sees Tools to Tackle Crime in Cryptocurrency and Blockchain Technologies
In the case of cryptocurrencies, abuse increases with use, according to Europol, which also noted that blockchain technologies give law enforcement a new way to combat crime. The law enforcement organization in Europe claims it can assist in the investigation of money laundering networks. Understanding Cryptocurrencies Is Vital to Tackling Organized Crime, Europol Says Following…
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A Thai regulator accuses a provider of digital asset services of refusing to respond to an information request; the matter has been referred to law enforcement
The chief executive officer of Zipmex’s Thai unit, Akalarp Yimwilai, and the country’s securities regulator were recently referred to the Royal Thai Police’s technology crime division. The regulator claimed it took this action after Yimwilai and his business refused to provide information about customers’ digital wallets to a government official. Zipmex Fails to Share Details…
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Crypto Investors Warned by SEC of Scammers Preying on Their Fear of Missing Out on Social Media
The Securities and Exchange Commission (SEC) of the United States has issued a warning about con artists preying on investors’ FOMO on social media. The SEC issued a warning: “If a cryptocurrency investment “opportunity” sounds too good to be true, it probably is.” SEC Says Scammers Often Use Social Media to Defraud Investors Monday saw…
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Israel detains three people in a crypto scheme to launder millions of dollars stolen from France
Three suspects have been detained by Israeli police for allegedly using cryptocurrency transactions to launder millions of euros taken from the French treasury. Government grants for companies impacted by the Covid-19 pandemic provided the funding. This week, three people were detained in Israel on suspicion of helping criminals who conned the French government with money-laundering…
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Imran Khan, a Pakistani politician, Instagram promoted used a crypto giveaway scam.
Former Pakistani prime minister and current head of one of the biggest political parties in the nation, Imran Khan, has acknowledged that hackers gained access to his Instagram account and used it to spread a cryptocurrency giveaway scam. Imran Khan, a former prime minister of Pakistan and the present-day leader of Pakistan Tehreek-e-Insaf (PTI), one…
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South African MTI and Its Operator Are Accused of a $1.7 Billion Bitcoin Fraud by a US Regulator
A $1.7 billion bitcoin fraud involving Mirror Trading International (MTI) and its operator has been charged by the U.S. Commodity Futures Trading Commission (CFTC). The largest cryptocurrency fraud scheme case brought against the regulator so far involves this action. The CFTC announced Thursday that it has charged a “South African pool operator and CEO with…
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400 cases involving cryptocurrencies are being looked into by Russia’s financial watchdog, the director informs Putin
According to the agency’s head, Rosfinmonitoring is looking into hundreds of cases involving cryptocurrencies. The top regulator also informed the Russian president that hundreds of thousands of Russians participate in cryptocurrency transactions overseas. 400 cases involving cryptocurrencies are being looked into by Russia’s financial watchdog, the director informs Putin According to the agency’s head, Rosfinmonitoring…