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mariacallous · 1 month ago

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In July 2016, Ekaterina Zhdanova’s star was rising. The glamorous socialite and entrepreneur, who had opened a series of hotels and leisure businesses across Moscow, was splashed across the cover of N Style, a Russian fashion and culture magazine.

“I dreamed of business since childhood,” she explained in the now inaccessible interview, as she described her ambitions and love for Russia. She partied with famous Russian TV and pop stars, and posed with expensive watches over the coming years—a world apart from her upbringing in a Siberian town.

But Zhdanova had a secret, and the first cracks were beginning to show.

As her social clout grew, she posted on social media about buying “huge volumes” of cryptocurrency, asking sellers to contact her. “It all depends on the mood,” Zhdanova told N Style when asked if she was a risk taker. “I'm probably a chameleon.”

International authorities believe she was much more than that. At the end of 2023, the United States government hit Zhdanova with economic sanctions for her alleged role in a crypto money-laundering operation used by Russian oligarchs, ransomware gangs, and other criminals. Today, Western law enforcement officials have gone even further, claiming that Zhdanova has acted as the head of a sophisticated money-laundering network that swaps cash for cryptocurrency, the likes of which law enforcement has never seen.

On Wednesday, Britain’s National Crime Agency (NCA), along with the US Federal Bureau of Investigation, Drug Enforcement Administration, and Department of the Treasury’s Office of Foreign Assets Control (OFAC), as well as authorities in Ireland and France, revealed that they have taken action against two massive Russian money-laundering networks that handle billions of dollars every year and have their tentacles in more than 30 locations.

The two alleged money-laundering networks—identified by a law enforcement action called Operation Destabilise—include the Smart Group, which officials say Zhdanova runs, and TGR Group, a series of companies led by George Rossi, who is either a Russian or Ukrainian national, according to authorities. The networks are distinct but often work together, officials say. As a result of Operation Destabilise, OFAC has imposed new sanctions against Rossi, four associated companies, two other members of TGR staff, and two individuals authorities say are linked to Zhdanova.

Over the course of several months, officials from the NCA provided WIRED with rare detail into their investigation and how the alleged money-laundering schemes operate. This includes tracing illicit transactions from Russian cybercriminals, finding payments linked to Kremlin propaganda outlet RT, and identifying links to organized crime in South America and the notorious Irish Kinahan crime group. The NCA also says the money laundering has also funded Russian espionage, although it refused to provide any more information.

Perhaps the most unusual element of the laundering, according to investigators, is how huge sums of Russian cryptocurrency are sent to criminal groups, often drug gangs, operating across Europe, where operators swap it for equivalent sums of cash to help obscure the money’s origins. In short: Criminals are trading bags of cash for crypto.

“This methodology of money laundering is new,” Will Lyne, head of cyber intelligence at the NCA, tells WIRED.

In addition to the newly issued sanctions, Lyne says Operation Destabilise has disrupted all parts of the money-laundering pipeline. The “head” of an intermediary network that works with one of the money-laundering groups has been arrested, the NCA says, and authorities have arrested dozens of people internationally and seized tens of millions in cash and crypto in the UK over the past two years.

Crypto Shuffling

Since Russia’s full-scale invasion of Ukraine more than 1,000 days ago, the country’s economy has been squeezed by sanctions—and cryptocurrency payments are banned domestically. However, increasingly, digital currencies are being used to move Russian money internationally.

“There is growing evidence that Russia is embracing cryptocurrencies and other alternative payment systems in order to circumvent sanctions and transfer funds around the world,” says Ben Cowdock, a senior investigations lead at the UK branch of anticorruption organization Transparency International. “While the Kremlin’s been closed out of the conventional banking sector, this does not mean it can no longer make international payments.”

Money laundering plays its part. By its very design, laundering is vastly complex and deceptive—and that can be exaggerated when crypto is used. Broadly speaking, money laundering takes place in three phases: placement, where money is added to financial systems; layering, where sums are shuffled between accounts or crypto wallets to hide its origin; and integration, where “clean” money can be spent freely.

The NCA’s Lyne says the two money-laundering networks are helping Russian elites to use their money outside of Russia. “This is definitely being utilized as a vector for sanctions evasion—and it’s perfect for that,” Lyne says. Investigators say the networks operate in different parts of the laundering chain: The Smart Group, allegedly run by Zhdanova, is at the top of the funnel, dealing with money from Russians, plus directing cash exchanges involved in the layering. The newly sanctioned TGR companies are often involved in integration, it is alleged.

NCA investigators started unraveling the two networks at the end of 2021, Lyne says, after spotting that ransomware payments linked to the Ryuk group were allegedly being further channeled to Zhdanova. At around the same time, authorities intercepted the first cash handovers in the UK. The lengthy investigative process used staff from across the NCA and drew upon open source data, messages from seized mobile phones, cryptocurrency and blockchain tracing and analysis, and physical investigative work and surveillance.

Through the Smart Group, Lyne alleges, Zhdanova can take Russian cryptocurrency from elites or ransomware groups and start routing it around the world. This often happens using a broker, known as an international controller, in the UAE, which has positioned itself as friendly to cryptocurrencies. The head of an international controller network has been arrested as part of the law enforcement action, the NCA says without providing any more information on their identity, location, or specific activity.

The money-laundering groups, officials at the NCA say, frequently use the Tether stable coin (known as USDT), which has a $130 billion market cap and is reportedly being investigated by the US government for the cryptocurrency’s potential to be used in money laundering and sanction violations.

According to details shared by the NCA, both the Smart Group and TGR have a “heavy exposure” to Russian cryptocurrency exchange Garantex, which was itself sanctioned by the US in 2022 for its links to cybercrime and illicit payments.

After The Wall Street Journal reported that Tether is under investigation, the company called it “wild speculation” and denied having “knowledge of any such investigations into the company.” A spokesperson for Tether tells WIRED it “unequivocally condemns the illegal use” of stable coins and works to combat money laundering, including having frozen all cryptocurrency addresses included in the sanctions against Garantex.

“You see direct exposure, so point to point, from Garantex to these criminals’ accounts,” says the NCA’s tactical lead for Operation Destabilise, whom WIRED granted anonymity due to the sensitivity of their work. The tactical lead says the two networks have copied techniques from traditional laundering processes, but using crypto means they don’t have to worry about banks detecting the activity and freezing payments.

“There’s so much layering that goes on,” the tactical lead says. “They’ll send funds through maybe three or four crypto addresses that we believe may be their own cold storage addresses before they go into an exchange,” they say of some of the activity around TGR. The groups are involved in the movement of “single-figure” billions of dollars each year, the official says, adding that it is hard to calculate an overall figure due to the layering.

Kathryn Westmore, a senior research fellow at the defense and security think tank Royal United Services Institute, says money laundering is often built upon trust and personal relationships, but the two networks have “industrialized money laundering” on a scale that hasn’t previously been understood. “I don’t think anyone could anticipate the size and complexity of this operation, the huge amounts of cash involved, and the number of different organized criminal gangs which used the services,” Westmore says.

As well as moving money—using cryptocurrency and through more traditional Russian financial systems—the Smart Group allegedly also coordinates with cash handlers in European cities. “Smart are orchestrating those cash-for-crypto swaps,” Lyne says. The network could, for example, arrange for Russian cybercriminals with cryptocurrency to exchange it for cash held by a drug gang in the UK, before the money is further laundered. Criminal gangs can, the NCA says, use the crypto to further buy drugs or guns.

A cryptocurrency investigator at the NCA, who also asked not be named for security reasons, showed WIRED a review of cryptocurrency wallets that have been allegedly linked to the Destabilise investigation. One wallet had more than £800 million ($1 billion) linked to it; another had £169 million. “The amount of activity is huge—it is daily,” the investigator says.

Zhdanova’s alleged involvement in crypto laundering was revealed in OFAC’s November 2023 sanctions. At the time OFAC claimed she laundered $2.3 million on behalf of a Ryuk ransomware affiliate; was asked by a Russian oligarch to move more than $100 million in wealth to the UAE; helped another Russian to obscure payments of more than $2.3 million to Western Europe; and provided tax residency services and UAE identification cards for Russian clients.

Operation Destabilise investigators say that Zhdanova, along with members of the TGR companies, used cryptocurrency and the traditional UK finance system in March 2022 to move more than £2 million ($2.5 million) into the country to buy properties for an elite Russian client. They allegedly tried to hide the source of the funds and bypass customer authentication checks, according to the NCA.

The sanctions issued by OFAC also name two other individuals, Khadzi-Murat Magomedov and Nikita Krasnov, who allegedly worked with Zhdanova as part of the money laundering. The NCA claims Zhdanova and Magomedov would broker deals, while Krasnov would work with courier networks in the UK. Magomedov could not be immediately reached for comment, and Krasnov did not immediately respond to a request for comment.

Investigators believe Zhdanova may have split time in recent years between Russia and the UAE. A review of available material from data breaches provided by Constella Intelligence shows Zhdanova’s Gmail address, which was previously published by OFAC, is the last seven digits of her phone number, and is linked to a Telegram account called Smart Group.

On Telegram, the Smart Group account has been a member of Russian-language channels focused on cryptocurrencies and life in Dubai and the UAE. The account has posted publicly about hiring a personal assistant and childcare issues in the region. Other publicly available information linked to Zhdanova shows a 13-room Moscow hotel for sale; a Facebook page for a travel business with one “like”; and a variety of online accounts from Chess.com to Instagram, where she has several thousand followers.

Zhdanova did not respond to WIRED’s requests for comment. The Smart Group Telegram account displays a message saying it was “last seen a long time ago.”

The NCA says that Zhdanova is in “pre-trial detention” in France, after she was arrested for separate offenses—it did not detail what those suspected offenses are. A spokesperson for the French Gendarmerie declined to comment, citing an ongoing judicial investigation.

Bags of Cash

Towards the end of 2022, investigators followed a van from Kensington, in London, on a 300-mile round trip to Oldham in the north of England. Saju Sasikumar, an operations manager with the NCA who has been involved in Destabilise and showed WIRED surveillance footage captured during the investigation, says when the vehicle arrived back in the capital, bags removed from it contained more than £200,000. An associated apartment, he says, contained a cash counting machine and empty bags, while another address contained around £400,000 in cash.

Officials ultimately identified Semen Kuksov, now 24, and Andrii Dzektsa, now 28, who were sentenced to five years in jail each after pleading guilty in February this year for their role in this money laundering and organizing cash couriers. Over a 74-day period, the NCA says, the pair helped launder £12.3 million. Information provided by the NCA says it has connected cryptocurrency wallets to Kuksov that have received more than £30 million and that he has allegedly coordinated with Krasnov, the associate of Zhdanova.

Sasikumar says Kuksov, who is the son of a former Russian oil executive and admitted to running an “underground” cryptocurrency exchange to investigators, abandoned his work phone, allowing officials to download data from the device and get a glimpse of the operations. “He was conducting cash handovers on a very global scale,” Sasikumar says.

On the phone they found evidence for cash exchanges all across Europe, including in cities in Germany, France, Portugal, and Spain. Cash couriers were hired through advertisements in group chats, with people putting in bids for each of the handovers, Sasikumar says. “There’s clear instructions about what happens,” he says, adding that individuals could be given a percentage of the cash transfer they were involved in. Kuksov’s operations used ripped bank notes as tokens during the cash handovers—both sides of the swap would have part of the ripped note and then match them up before money changed hands.

Vast sums of crypto being shuttled between digital wallets can be traced, but it is not as blatant as stuffing thousands of bank notes into gym bags. In total, Operation Destabilise has led to 84 arrests, with more than £20 million of cash and crypto being seized by UK law enforcement. Across the country, at least 22 criminal actors have been linked to the money laundering, officials say, with one courier network conducting 55 cash handovers in just four months.

The UK, and London in particular, has long been a home to dirty money and laundering, with cryptocurrencies apparently increasingly being linked to cash in the capital. When cash has been handed over by the money-laundering networks, investigators observed an almost immediate movement of cryptocurrency for the same amount. Lyne estimates the networks may have moved more than £100 million in the UK every year.

The NCA says it and international law enforcement bodies have arrested multiple couriers linked to the money-laundering operations. The NCA points to a case where a courier, Fawad Saiedi, was found with more than £250,000 in cash in his car in November 2021—he was sentenced to four years in prison after pleading guilty in May 2022. The NCA says it is believed he processed more than £15 million and was “directed” by Zhdanova and Krasnov.

Across the UK, investigations have uncovered a van with more than a dozen washing powder boxes containing £1 million in cash, a vehicle with £350,000 under its passenger seat, and another van with £2.1 million hidden inside a door. Of the 84 arrests, the NCA’s tactical lead says that the majority of the potential prosecutions are still ongoing.

Close Connections

While investigators say the Smart Group is involved in moving money and other assets largely from people in Russia, the second money-laundering network targeted by Western officials operates at the other end of the spectrum. Law enforcement officials say George Rossi and TGR are allegedly involved in integrating money into financial networks.

NCA officials say Rossi has used identity documents from other countries besides Russia, including Ukraine, and a LinkedIn profile lists him as the founder of TGR. He’s also a member of a startup organization in Dubai, and his companies have previously partnered with blockchain and cryptocurrency events in Dubai. He has also faced bankruptcy proceedings in the UK in recent years.

OFAC announced sanctions against the founder, as well as Elena Chirkinyan and Andrej Bradens, who also goes by the surname Carenoks, both of whom work for TGR—Chirkinyan is described as Rossi’s “second in command.” Four companies tied to Rossi and TGR have also been included on sanctions lists: TGR Partners Ltd, TGR Corporate Concierge, TGR DWC LLC, and Siam Expert Trading Company Ltd. The companies, on their websites, claim to provide a range of financial services, events management, and similar corporate services.

“What TGR will do is provide an interface to be able to take illicitly generated cash and put it into the legitimate banking system, although that might be in jurisdictions of risk for example,” Lyne from the NCA says. In 2023, the sanctions claim, TGR’s Chirkinyan allegedly helped transfer funds out of Russia, from Russian state-media media outfit RT, which has been widely sanctioned by Western governments, to help fund a Russian-language media organization in the UK.

However, the sanctioned TGR companies are likely the tip of a dense iceberg, with multiple legal identities linked to the brand name or company records. Archived versions of the now sanctioned TGR Partners’ website have in the last few years claimed the business has “partner” offices in the UK, Singapore, Russia, Ukraine, Turkey, the UAE, Latvia, Cyprus, Luxembourg, Bulgaria, and the US. (The most recent version of the website only includes the UK and UAE addresses.)

TGR Corporate Concierge, which was also sanctioned, was previously called TGR Wealth Solutions, according to public company records. Many of the businesses linked to TGR—which also includes those not sanctioned by officials—share the same phone numbers, legal addresses, and similar website designs, a WIRED review shows.

Bradens also owns at least 50 percent of Pullman Global Solutions LLC, a Wyoming-based entity, according to OFAC.

Rossi and Bradens did not immediately respond to requests for comment. Chirkinyan could not be immediately reached for comment.

The companies have a limited public presence. Many of the websites do not contain many specifics about what the businesses do and often include boilerplate-style text. The TGR Partners website also includes a peculiar series of blog posts from early 2020, listing the most expensive wines in the world, Europe’s best virtual museums and galleries, and the winners of the 2020 Oscars. “I think that is very typical of traditional money-laundering typologies, where a website will simply be lifted, a new company will be put on there, and the images and text won't necessarily correlate to what the company purportedly does,” the NCA’s tactical lead for the operation says.

While both TGR and the Smart Group are separate but linked entities, the tactical lead says there may be times where they work together using “each other’s specific capabilities” for those they work on behalf of. The official says that social connections likely also help to power what they do and generate business, and that some of the networks, and those linked to them, are likely still operating.

“Street-level harm is being enabled and is being powered by these types of networks,” Lyne says, emphasizing that the NCA operations, US sanctions, and arrests internationally have limited the entire network. Officials say that during their investigations over the last two years, they have seen individuals being more reluctant to operate in the UK, as more arrests have taken place and the risk of laundering has risen.

With Zhdanova also in French custody, there could be greater limits on how the networks operate. Although with legal cases ongoing, many details about the total money movements in recent years remain unknown, but Zhdanova’s chameleon nature appears to be coming into focus, as are her alleged ambitions.

“Sometimes I worry that I lack a flight of fantasy,” she said in the 2016 N Style interview. “Then I lie down and always come up with something at night.”

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coinsavvy · 1 year ago

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What’s New in Cryptocurrency Today?

The cryptocurrency market is constantly evolving, with new developments, innovations and challenges emerging every day. In this blog post, we will highlight some of the most important and interesting news stories that happened in the crypto space today.

Central Bank of Nigeria Lifts Crypto Ban Following New SEC Regulation The Central Bank of Nigeria (CBN) has reversed its ban on dealing with companies involved in digital tokens, following the introduction of a new regulatory framework by the Securities and Exchange Commission (SEC). The SEC has classified cryptocurrencies as securities and has mandated registration and compliance for crypto service providers. This move is expected to boost the adoption and innovation of crypto in Nigeria, which is one of the largest markets for digital assets in Africa.

Bitcoin Price Prediction: BTC Dips Amid Market Moves and Satoshi Identity Revelations Bitcoin, the leading cryptocurrency by market capitalization, has experienced a minor dip, trading at $43,623 with a 0.83% decrease on Saturday. This shift in Bitcoin's price coincides with a rise in stocks and a decline in the dollar value as the long holiday weekend approaches. Moreover, some speculation has emerged about the identity of Satoshi Nakamoto, the anonymous creator of Bitcoin, after a website claimed to reveal his name and location. However, many experts and enthusiasts have dismissed this claim as another hoax.

People’s Bank of China Stresses on Global Regulation for Crypto and DeFi Markets China’s central bank has called on global financial authorities to regulate the digital asset and decentralized finance (DeFi) markets in its recent financial stability report. The People’s Bank of China (PBoC) has warned that crypto and DeFi pose risks to financial stability, consumer protection, anti-money laundering and cross-border capital flows. The PBoC has also reiterated its stance on cracking down on crypto mining and trading activities within its jurisdiction.

Multiple Crypto Influencers Struck By SIM Swap Attacks – Here Are The Details SIM swappers are beginning to target crypto influencers ahead of the holidays, with some taking control of their high-profile accounts on Twitter. Some include the accounts of crypto investment firm Manifold Trading and its founding partner, Jae Chung. SIM swapping is a type of cyberattack that involves transferring a victim's phone number to a new SIM card, allowing the attacker to access their online accounts. Crypto influencers are often targeted by SIM swappers who seek to steal their funds or scam their followers.

New Cryptocurrencies Listed Today And This Week | CoinMarketCap CoinMarketCap, one of the most popular platforms for tracking crypto prices and data, has added new cryptocurrencies to its list in the last 30 days. These new listings can offer a variety of opportunities for those interested in the space. Some of the new cryptocurrencies include Fluid (FLUID), Fuzion (FUZN), Aki Network (AKI), Blue Kirby (KIRBY), Felix 2.0 ETH (FELIX), SANTA CHRISTMAS INU (SANTA), Lemon Terminal (LEMON), Bonkinu (BONKINU), Grok Father (GROK FATHER), Cash Flash (CFT), Solabrador (SOBER), Solana Shib (SSHIB), analoS (ANALOS), Analysoor (ZERO), The Gm Machine (GM), Baby Bonk (BABYBONK), Eggdog (EGG), Syncus (SYNC), Baby Bob (BABYBOB), MainnetZ (NETZ), BABY CAT INU (BABYCAT), PAW (PAW), Wecan Group (WECAN), Papa Grok (PGROK), bemo staked TON (STTON), GrapeCoin (GRAPE), Bitcoin Cats (1CAT) and Eclipse Fi (ECLIP).

These are some of the most relevant and exciting news stories that happened in the crypto world today. Stay tuned for more updates and analysis on this fast-paced and dynamic industry.

#coins #crypto coins #coinsavvy

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ailtrahq · 1 year ago

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Binance’s Investigations team aided Thailand Police in apprehending crypto scammers. Binance said it has assisted in over 103,000 similar requests in the last three years. The world’s largest exchange, Binance [BNB], reportedly collaborated with Thailand law enforcement officials in cracking down on criminal mafias that used cryptos to move funds. How much are 1,10,100 BNBs worth today? Binance turns investigator As per a blog post published on 3 October, Binance’s Investigations team aided the Royal Thai Police in two operations, culminating in the arrest of major participants and the confiscation of assets. Notably, the first case involved a joint operation by Binance, Royal Thai Police, and U.S. Homeland Security Investigation (HSI) to capture those responsible for “pig butchering” scams. The modus operandi of the group involved cultivating trust with inexperienced investors and luring them into depositing funds into fraudulent investment platforms. The scammers would then exhibit bogus earnings on the initial investments to entice customers to deposit more assets, only to make off with all the money in the end. Binance and HSI provided valuable intelligence to the Thailand Police, using which five key members of the crime syndicate were arrested. Moreover, assets worth $277 million were seized, which included luxury cars and real estate. Binance was also instrumental in exposing another large crypto scam involving transnational criminal organizations. Apart from supplying intelligence, Binance stated that it sent one of its officials to Thailand to assist with the inquiry. The operation led to a massive crackdown across different cities of the country. Eventually, luxury houses, high-end vehicles, and $440,000 in cash were recovered by the sleuths. Binance also claimed to have assisted in over 103,000 similar requests from across the globe in the last three years. Binance continues to be in legal soup Despite the above endeavors by Binance, the exchange and its CEO, Changpeng Zhao (CZ), have faced an onslaught of legal problems in 2023. Earlier this year, the U.S. Securities and Exchange Commission (SEC) sued the exchange over the violation of U.S. securities laws. Is your portfolio green? Check out the BNB Profit Calculator In the latest development, a class-action suit was filed against its American arm, Binance.US and CZ, over allegations of deliberately harming its competitor, FTX, which went bankrupt last year. Binance is the world’s largest crypto exchange with a 24-hour trading volume in excess of $5 billion, per CoinGecko. Any risks to its stability could have major consequences for the cryptocurrency market as a whole.

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etiennekissborlase · 2 years ago

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Binance Crypto Accounts Linked To Islamic State Targeted By Israel Report

Binance Crypto Accounts Linked To Islamic State Targeted By Israel – Report https://bitcoinist.com/binance-crypto-accounts-targeted-by-israel/ Documents released by Israeli counter-terrorism authorities reveal that approximately 190 cryptocurrency accounts at Binance, the largest cryptocurrency exchange in the world, have been confiscated since 2021. Among them were two accounts allegedly linked to the Islamic State, while dozens more were reportedly owned by Palestinian firms associated with the Islamist group Hamas. This move highlights Israel’s ongoing efforts to crack down on terrorist financing through the use of cryptocurrencies, and reinforces the importance of increased regulation and scrutiny within the industry. According to a Reuters investigation using evidence from Israeli counter-terror officials, on January 12, the National Bureau for Counter Terror Financing (NBCTF) issued documents signed by Defence Minister Yoav Gallant revealing that Israel froze two accounts held by a Palestinian man called Osama Abuoyada, who is 28 years old, that were related to the ISIS. Impairing Islamic State’s Ability To Sow Terror The NBCTF explained on its website that the seizure was made to “thwart the activity” of Islamic State and “impair its ability” to pursue its goals. Neither the value of the cryptocurrency seized nor its connection to Islamic State were disclosed in the previously unreported NBCTF document. Almost all of the roughly 200 accounts frozen belonged to three foreign exchange Palestinian enterprises operating in Gaza: Al Mutahadun, Dubai Company, and Al Wefaq Co., according to a second source. Former Israeli defence minister Benny Gantz labelled Al Mutahadun a terrorist organisation after allegations that it sent funds to the terrorist organization Hamas. Global regulators have long advocated for increased oversight of cryptocurrency trading platforms in an effort to prevent criminal activity like money laundering and the financing of terrorism. The defence minister of Israel has the authority to seize and confiscate property it believes is linked to terrorism under Israeli legislation. Israel Clamps Down On Dirty Crypto Israel’s NBCTF’s confiscations are an example of how governments are cracking down on cryptocurrency firms to thwart criminal activity. According to Hamas representative Hazem Qassem, Israel is making false accusations in order to “justify its economic war against Gaza and its people.” Hamas announced last week that it would cease accepting crypto donations due to security concerns for its benefactors. Donations made in bitcoin to the Islamic State were reportedly converted to cash using crypto trading platforms, according to a report from the U.S. Treasury last year. The Treasury did not provide details on the systems in use. Abuobayda had two Binance accounts that Israeli police froze after discovering their ties to the Islamic State. Binance Reacts Meanwhile, Binance has issued a statement in reaction to the Reuters article that raised concerns about the exchange’s compliance standards regarding the prevention and handling of terrorist financing. Binance said that a Reuters reporter had purposefully left out key details in order to conform to the company’s guidelines. A crypto exchange’s adherence to compliance can truly be assessed by its ability to identify questionable deposits and the measures it implements to address them, Binance said. “With regard to the specific organizations mentioned in the article, it’s important to clarify that bad actors don’t register accounts under the names of their criminal enterprises. This is why our team collaborates with law enforcement, and leverages information that is only available to them in order to identify individuals operating accounts for illegal organizations,” Binance said. -Featured image from Getty via Bitcoinist.com https://bitcoinist.com May 05, 2023 at 12:35PM

#Bitcoinist.com

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rlxtechoff · 2 years ago

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#IFTTT #Blogger

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thesecrettimes · 2 years ago

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Russian Darknet Markets, Ransomware Groups Thrive Despite Sanctions, Report

Russian marketplaces on the dark web have continued to operate despite Western sanctions and efforts to shut them down, according to a report accessing the illicit blockchain space amid the world’s “first crypto war.” Ransomware actors and high-risk crypto exchanges have also remained active.

Underground Russian Crypto Platforms Adapting to Disruptions Caused by Ukraine War

Before Russia invaded Ukraine a year ago, cryptocurrency exchanges linked to the two countries accounted for over half of the international volumes of illicit crypto funds. Cybercrime organizations were full of Russian-speaking members and Russian-language darknet markets (DNMs) dominated the global drugs trade in cryptocurrency, TRM Labs noted in a new report. Over the past year, the blockchain intelligence firm analyzed changes in the illicit crypto ecosystem to find out how cybercriminals are adjusting to the financial, political, and logistical disruptions caused by the conflict. The company describes the latter as “the world’s first crypto war,” with the two sides relying on donations in digital assets to fund their military and humanitarian campaigns and the West trying to limit the opportunities for Moscow to use coins to bypass restrictions. When the war broke out, Western governments and law enforcement agencies went after Russia-linked DNMs, ransomware syndicates and crypto exchanges exposing users to increased risks. However, these have continued to thrive even after the unprecedented actions against them, the researchers were able to establish. In April, German authorities seized the servers of the largest darknet market, Hydra, while the U.S. Treasury Department imposed sanctions on Hydra and Garantex, a Russia-based crypto exchange accused of processing $100 million of illicit transactions. The total includes $6 million from the Russian ransomware group Conti and around $2.6 million from Hydra. Despite the crackdown, Garantex not only continues to operate but has more than doubled its trading volumes over the course of 2022, TRM Labs revealed. Meanwhile, newly founded Russian DNMs have quickly filled the gap left by the dismantling of Hydra. Sales on these platforms between May and Dec. 2022, surpassed those in the first four months of the year. At the same time, while Conti officially shut down in May, it has actually rebranded and is still operating through several smaller groups. Although, a study published by Chainalysis in January of this year showed that sanctions have played a role in reducing ransomware revenue. The TRM report also highlights the politicization of some Russian and Ukrainian hackers providing an example with Killnet. The group, which conducts malware and distributed denial-of-service (DDoS) attacks, pledged allegiance to the Russian state, threatening entities linked to unfriendly nations. The pro-Ukrainian Dump Forums have also hit Russian targets. Both have been raising crypto on Telegram for their respective causes. DNMs and darknet forums have largely remained politically neutral. Do you think the authorities in Russia, Ukraine, and other countries in the region will crack down on such platforms in the future? Share your thoughts on the subject in the comments section below. Read the full article

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crackingcryptocurrency · 1 year ago

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Exploring The Best Trading Strategies: Key Factors to Consider

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By engaging with Cracking Cryptocurrency Trading Group, enrolling in courses, and considering key factors, you can enhance your skills and increase your chances of success. Remember to only trade with funds you can afford to lose, as trading inherently involves risks. Good luck and happy trading!

#Cracking Cryptocurrency Trading Group #Crypto Currency Trading Course #Best Trading Strategy

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asinineapotheosis · 4 years ago

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PREPARING FOR THE END, BUT HOW WILL IT COME?

We live in an ever interconnecting world and never before has mankind faced the immensity of threats we do today. Below is a list of possible world ending crisis to prepare for:

1. Global Economic Collapse The most immediate and likely crisis to occur. It has happened on smaller scales in the past. Economies rise and fall like the coming of the tides. The difference today is how intricately connected global economies are. One nations economic collapse could easily domino into neighboring countries where their economies are tightly knit and these sudden changes effect even the most far removed of nations. Great Depressions are no longer localized. This year alone, some economies have shrank upwards of 26% and it isn’t stopping yet. There are no systems in place to stop the world from falling into a Global Recession.

2. Cultural Division It is true that we have always had cultural division, for as long as humans have been around in fact. But its no stretch to say that wars and conflicts between Religions, Ethnicities, Ideologies, Classes, and Political Parties have intensified. These days people are even often radicalized through the internet and media. You would think that being surrounded by information about other cultures and peoples would make humans more receptive and tolerant of those different from them but its seems that just the opposite is true. It seems that the more we are presented with other peoples the more we are drawn deeper into our own communities and cultures. The abundance of information can be overwhelming and cause us to withdraw and criticize other cultures. These criticisms are then sown and grown in the echo chamber that is The Internet where these feelings are reinforced and even nurtured as like minded people reciprocate these same thoughts and feelings. We’re used to seeing these sorts of conflicts happening in “smaller countries” but what happens when in starts in global Super Power, between similarly armed groups, when the violence spills into the streets and the fires are lit? It will take much more effort to extinguish them than it did to start them.

3. Global Xenophobia This is a biproduct of cultural division. The world is already suffering under a global pandemic which has disrupted trade and travel, so nations are hastily reworking their economies and looking inward, isolating themselves away from global interactions and turning to nationalism. This can create further distrust and divisions between nations and cultures and a build up of defenses instead of attempts at communications. Don’t be surprised to find that nations begin posturing and attempting to assert themselves, or old alliances and treaties to disappear. Nations will operate in their own self interest. This will further ingrain xenophobia. It is often the case that countries that follow a xenophobic line of thinking will accuse foreigners of bringing crime, spreading diseases, abusing welfare systems, bring opposing ideals and religions, taking jobs, and even dilute the racial make up of a nation. On a global scale, countries that fall wholly into this line of thinking will rot from within. Civil wars, violent upheavals in government, vigilantism, pockets of violence and utter chaos throughout the country. This is something we’re seeing everywhere today and small cracks become huge divides if they are not mended.

4. Artificial Intelligence Once the thought of AI as a threat took the form of the Terminator, robots conquering, subduing, and destroying mankind. But the truth is far more complicated and nuanced. Algorithms and programs serve up endless streams of lifeless content to be viewed, evaluated, and stored for later. AI produces a sea of countless distractions based entirely on our previous clicks, likes, search history, location, gender, age, and other demographics. In the age of information it is entire possible to live in an alternative reality of facts insulated from any input. In essence creating complex virtual communities of like minded peoples. Communal Subjectivity is the name of the game and it is constantly reinforced every time you look at a screen. The logarithms do not care, they do not feel, they have no opinions or beliefs themselves. Instead, they feed you your beliefs and prejudices. Ironic that machines that were intended to connect us all are actually driving us apart even further and create a landscape for further conflict. Furthermore, we are at a point in automation and so technologically dependent that it would be impossible to scale it back. What will happen if the technology is rendered inoperable due to conflict, EMPs, Solar Flares? How will people live? Transportation, electricity, water, refrigeration of medicine and food, etc... all gone. Who would they turn to? The Government? Their neighbors? Friends and family? Could you and your friends all survive a world like this? AI and Technological dependence is a fragile state of being. It really doesn't take much to break it. If it were to occur on a large scale, all of society would be unraveled.

5. Sino-American War War has changed. No longer is about troops and tanks on the ground, or long drawn out conflicts between nations. It is unlikely that a nuclear exchange between superpowers would occur in a way that we would imagine. More likely would be a handful of high altitude nuclear detonations to create EMP bursts and cripple electrical grids. The realties of this new form of war is beginning to rear its face and the threat is becoming clear. Terrorists and provocateurs can do more damage than any standing army. This atop the fact that they would have the benefit of dividing a nations populous rather than uniting it against a common enemy. So what would a war between the US and China look like? Not how you’d think. The US holds a over whelming advantage at sea and in terms of long ranged weapons. The only thing that has held the peace between these two super powers is the fact that their economies are tied together as a relationship between consumer and manufacturer, respectably. The US prints money and sells debt and China purchases that debt. So this war would most likely be Economic and the start of a shift away from the us dollar as the reserve currency of the world. There’s already talk about cryptocurrency backed by the Yuan and gold, a serious threat to US Dollar. As the trade war continues, the Dollar remains strong. But what would happen if the US Dollar weakens and the American market stops consuming and begins to retract? It is possible that we are already engaged in the early stages of a Sino-American war as foreign provocateurs sowing chaos in a US election process, or more covert attacks on the US computer infrastructure, alliances that exclude the US, or biological threats.

SO WHAT DO WE DO?

What do we do as the world teeters on complete and total destruction? Simple, we prepare. Make certain that any disaster will not leave you with the essentials of food and water. Have a plan and the equipment you need when the power goes out and supply chains stop. Have a plan to hunker down, make a stand, and then bug out if necessary. Prepare for the long-haul and not just the moment and you will survive any coming disaster.

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cryptotrading101 · 4 years ago

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Crypto Trading Resources

Here are some of my favorite resources for crypto trading.

Last Updated: Feb 16, 2021 7:50PM EST

EDUCATION

CrackingCryptocurrency.com If you want to learn how to trade cryptocurrency responsibly using system-based algorithmic trading, there is no better resource than Cracking Cryptocurrency. They are a great educational group that hosts a daily Youtube show Mon-Fri at 1:00PM EST, where they perform live trading and teach people how to trade.

BabyPips.com If you are super new to trading and don’t even know how to read a chart, you can start by trying out BabyPips’ free forex trading course. Here, you will learn basic chart patterns, candlestick formations, and trading fundamentals that will help you on your trading journey.

EXCHANGES (US)�� Coinbase Coinbase Pro - The cheaper pro version of Coinbase Binance.us FTX.us Gemini OK Coin

EXCHANGES (INTERNATIONAL) Binance FTX Deribit - Derivatives and options Bybit - Margin trading (Intermediate/Advanced users only!) Uniswap - DeFi Exchange | Tutorial

WALLETS Ledger Nano X (Hard) Trezor (Hard) Trust Wallet (Hot) | Setup Video Exodus Wallet (Hot) | Setup Video Metamask (Hot) | Setup Video

TRADING TOOLS

Trading View - Chart crypto, stocks, and more. Use indicators! Coin Trader Pro - Chart coin projects that haven’t yet been listed on exchanges

Chartex - Chart more coin projects that might not be on exchanges!

CoinGecko.com - Your best search engine for tokens! Great for research.

CryptoParrot.com - Paper trading platform - digitally simulate trading for free with “paper” money! 3commas.io - Set multiple take profit points and simultaneous stop loss, trailing take profit, and stop loss timeouts. Sync all of your exchanges in one place to keep track of your trades!

BITCOIN INFO btc101.io bitcoin-only.com bitcoin.page bitcoin-resources.com

CLUBHOUSE CLUBS Crypto Church Black Bitcoin Billionaires BITCOIN LIGHTNING GAMING - EARN SATS! Sarutobi - Android | iPhone (Requires Test Flight) Bitcoin Bounce - Android | iPhone (Requires Test Flight) Bitcoin Bounty Hunt - Windows PC Bitcoin Rally - Windows PC Bitrealm Lightnite - Available for Linux, MAC, and Windows Turbo ‘84 - Android | iPhone CS:Go Infuse Mint Gox Discord Bitcoin Lightning Gaming Discord

EARN MORE SATS Fold App Lolli App NON-CUSTODIAL LIGHTNING WALLETS FOR LIGHTNING BTC Breez Zap Muun

#crypto #crypto trading #bitcoin #alt coins #crypto resources #pinned

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ailtrahq · 1 year ago

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About $22 million in stolen cryptos from the Harmony Protocol heist were transferred to a Russian exchange. Russia was the global hub of cryptocurrency laundering. The crypto industry has been left high and dry amidst an unrelenting onslaught from North Korean-linked hackers. A series of high-profile exploits by unscrupulous players, allegedly backed by the regime, have siphoned millions in hard-earned monies off unsuspecting investors. While on-chain sleuths and law enforcement agencies work hard to investigate and uncover such crimes, a new alarming development has emerged, raising the risk a few notches higher. The Russia – North Korea link According to the latest report by blockchain analytics firm Chainalysis, hackers from North Korea were actively using Russia-based crypto exchanges to launder stolen crypto assets. On-chain data revealed that roughly $22 million stolen from the Harmony Protocol heist in June last year were transferred to a Russian exchange. Although the name was not revealed, Chainalysis alleged that the trading platform was a repeat offender with a history of supporting unlawful transactions. For the uninitiated, layer-1 blockchain Harmony suffered a breach on its cross-chain bridge Horizon. This resulted in a theft of $100 million in several tokens including Ethereum [ETH], Tether [USDT], and USD Coin [USDC]. The Federal Bureau of Investigation (FBI) later confirmed that the notorious Lazarus Group was behind the exploit. Meanwhile, Chainalysis claimed to have evidence proving the hacking group has been using the aforementioned Russian exchange services since 2021. Chainalysis discovered some intriguing new trends while following the trail of the stolen crypto assets from Lazarus Group. Historically, the group has transferred the funds to mainstream exchanges. However, of late, there were numerous instances of the funds getting deposited on the Russian exchange. The below graph demonstrated the movement of stolen Harmony funds. Source: Chainalysis Russia – a big player in crypto crimes Chainalysis noted that this dramatic shift could harm the process of recovering stolen funds, given Russia’s, “Notoriously uncooperative stance toward international efforts.” According to a previous report, Russia was the global hub of cryptocurrency laundering. The fact that businesses tied to such crimes were functioning from one of the country’s most prominent financial landmarks – The Federation Tower in Moscow’s central business district – indicated the seriousness of the problem. In fact, for some of these crypto entities, illegal funds made up more than 30% of all the cryptocurrencies received. Russia also leads the world in ransomware attacks. Conti, believed to be based in Russia, was the biggest ransomware strain by revenue in 2021. They extorted at least $180 million from victims. There have been instances of local law enforcement agencies cracking down on ransomware attackers in the past. However, analysts have associated them to be acts of diplomacy meant to cool tensions over Russia’s military campaign in Ukraine. In response to the increasing threat of ransomware-related crimes, the U.S. government recently merged its crypto crime and cybercrime units. One of the stated objectives of the merged unit was to track criminals through their ransomware payments and apprehend them before they flee to Russia. Hacks from North Korea down in 2023, but… As far as the tale of North Korean crypto crimes were concerned, a sharp fall was observed in overall funds lost in 2023 to unscrupulous players from the “Hermit Kingdom.” Compared to a whopping $1.65 billion in 2022, the hacked amount plunged to $340 million this year. Source: Chainalysis However, scammers from the East Asian nation still constituted roughly 30% of all cryptocurrency hacks carried out in 2o23. The high share in overall crypto crimes reinforced the notion of North Korea being one of the largest active threats in the cybercrime landscape. Source: Chainalysis

In fact, at least two high-profile exploits surfaced in a span of just seven days. The first was the $41 million heist from cryptocurrency betting platform Stake.com, followed by the $54-million exploit on cryptocurrency exchange CoinEx. Though the crypto and DeFi fanbases are resilient, the non-stop attacks on platforms have started to test their patience. When it comes to finance, the security and transparency regarding funds holds paramount importance. Hence, it was critical for builders to guarantee safeguards to attract more users. Source

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thesecrettimes · 2 years ago

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Russian Darknet Markets, Ransomware Groups Thrive Despite Sanctions, Report

Underground Russian Crypto Platforms Adapting to Disruptions Caused by Ukraine War

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crackingcryptocurrency · 1 year ago

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Exploring The Best Trading Strategies: Key Factors to Consider

https://www.bondhuplus.com/read-blog/42934_exploring-the-best-trading-strategies-key-factors-to-consider.html

Cryptocurrency trading presents both exciting opportunities and significant risks. To navigate this dynamic market successfully, traders must adopt the Best Trading strategies. Whether you're a beginner or an experienced trader, understanding key factors can substantially improve your trading skills.

#Cracking Cryptocurrency Trading Group #Best Trading Strategy #Crypto Currency Trading Course

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tszhangherbertlam · 4 years ago

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Can Bitcoin create a virtual world?

1) What is Bitcoin?

Have you ever heard of a story of a man who bought two pizzas using 10,000 Bitcoins? What is Bitcoin then? It is a tradable digital currency. It can be spent globally like real-world money but without the need for converting to different currency between countries (e.g. from $ to £), which is very convenient. But from a country's perspective, the most important power is the issue and control of the currency, they lost those power due to the existence of Bitcoin and they failed to shut it down. Therefore, they do not accept Bitcoin as a currency, only as a financial product, people can hype it but not consume it.

2) How was Bitcoin created?

An article called ‘Bitcoin: A peer-to-peer electronic cash system’ was published in 2018 by Satoshi Nakamoto. It perfectly described an advanced virtual currency system. Two months after the article was published, engineers built the system by following the instructions in that article. In 2009, the Bitcoin system was successfully launched.

Like the real-world currency (e.g. gold), Bitcoin was also dug out from the mine, but it is a virtual system. People use computer programs to dig out Bitcoins and the total amount is set to be 21 million (maximum authorised amount). Three factors will influence the digging speed: 1) the production rate of the mine. 2) the speed of the computer. 3) the numbers of diggers. However, the Bitcoin system has been operated for 11 years, most of the Bitcoins have been poached, the production rate of the mine has been dramatically dropped. If you want to join the diggers, it may take you years to dig out your first Bitcoin!

In 2009, when people started to mine Bitcoin, it almost worth nothing, so people use it to buy pizza, and this is the story at the beginning of this blogpost.

3) Advantages and disadvantages of Bitcoin.

The advantages of Bitcoin are: firstly, it has a constant value. As mention above, the maximum authorised amount is 21 million Bitcoins, so its value is set from the beginning. Moreover, the value of Bitcoin will not influence by political situations such as wars or social unrests. If wars are happening, the existing cash will be affected e.g. depreciate, the real cash can get lost by falling-off your pocket, but Bitcoin will not, and this leads to the next point: it has a high-level of security. Bitcoin is only a digital currency that exists on the internet, you just need to make sure you do not lose your Bitcoin banking account then you are safe. However, if your account has been stolen or forgotten, you will be unable to find it back. This because Bitcoin is highly digitally encrypted and cannot be cracked or traced, which means that your Bitcoins are gone, for good. Thirdly, low transaction fees. Usually, the transaction activities are free for Bitcoins, if it does, it will still be lower than the real currency since there is no intermediary agent, therefore all the transactions are point-to-point unless you invited a third party to join the transaction e.g. trading platform. From a government’s perspective, it is bad. Because they cannot control and trace the money, then it will be difficult to control their people.

On the other hand, the disadvantages. Firstly, it is easy to lose your account, despite Bitcoins are powerful and secure enough, but that does not mean the Bitcoin trading platforms are secured, due to hacking attacks, causing the trading platform supervisor to temporarily shut down the platform, or even permanently. Secondly, the transactions are not reversible. As they are digitally encrypted, you cannot prove that Bitcoin is yours, unless the seller is nice enough to transfer your Bitcoin back. Thirdly, Bitcoin is easy to be exploited illegally, due to no one is managing the Bitcoins and it cannot be traced, it can easily be used to do illegal things e.g. money laundering and drug-dealing. Lastly and most importantly, the Bitcoin system can be duplicated. is not duplicating the Bitcoin mines, but anyone can follow the instructions on that article to create their own virtual currencies and we do not know which we shall use and use world-widely. IMF (International Monetary Fund) has warned the world that every country needs to issue their own CBDC (Central Bank Digital Currency), which is a traceable and manageable currency, to prevent everyone from using virtual currency and giving up on trust in banks.

4) A more futuristic world?

If every country is going to issue their own CBDC, then the world’s currency will be virtualised, cash will be no longer existing. The wealth of the entire world has become an encrypted string of numbers, stored in a bank. One thing we can sure about is that governments must eventually virtualise their money, to get their power back (right of issuing and control of the currency) to control their people. Therefore, we need Fintech to have better management of our money in the bank (refers to my blogpost 1). Moreover, the policing of online transactions will be improved since every virtual currency transaction can be tracked.

Between 2013~2015, the Rockefeller financial group and Rothschild Family have issued their cryptocurrencies: ‘Ethereum’ (ETH) and ‘Ripple’(XRP), to promote the virtual currency market. Many countries have certified these two virtual currencies are safe e.g. Japan. So far, many countries have launched their own cryptocurrency such as China, Singapore, and Senegal, etc.

5) Conclusion

To sum up, currency virtualization is inevitable, and it has accelerated the virtualisation of matters. Because money is a representative of matters, only money can purchase physical items. Let us think about this in another way. Combining my blogpost 1, we can use Fintech to pay-off our debts and even make a purchase online, then the item will be delivered to our acquired location, throughout the transaction, we do not use cash for payment, and we do not even need to touch our wallet. The only thing we do is to make a few finger-taps on our mobile screen. By doing so, we only feel the deduction on digital numbers since our money is already transformed into numbers in our bank account. Therefore, in my opinion, this kind of life is virtual, and the world will eventually be virtualised because money has already been virtualised, it is about time.

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