#Cryptocrime

[crypto-telegraph-news]

$100 Million Shiba Inu (SHIB) Thief Breaks Silence with New Transfer

[ladookhotnikov]

US Department of Justice strengthens crypto division

DOJ announced the strengthening of the digital assets and crypto crime division.

The «crypto police» staff will increase and receive a new head. The division will be headed by Claudia Quiroz.

The strengthening of the crypto-direction is associated with an increase of crimes and astronomical amounts of damage. Investigation of «cryptocurrency» cases requires special qualification of investigators able to understand the complicated technical and legal aspects of crypto business.

Lado Okhotnikov, Founder and CEO of Meta Force agreed with the need to strengthen the fight against «Crypto-Crime», but expressed concern that this would increase undue pressure on the crypto business.

«There is no doubt that crime needs to be fought. We see reports of new Crypto crimes every day. People lose money, companies go bankrupt. All this has a bad effect on our work. First of all, there is a loss of trust, growing nervousness, falling investment. However, there is another side. If, for example, DOJ follows the same logic as the SEC, then everything will be sad...»

[osintelligence]

https://bit.ly/43Qqkkp - 🔒 Charges have been unsealed against Russian nationals Alexey Bilyuchenko and Aleksandr Verner, linked to a massive 2011 hack of Mt. Gox and illicit operation of cryptocurrency exchange BTC-e. Their alleged crimes involve the laundering of approximately 647,000 bitcoins and enabling worldwide criminals to launder billions of dollars. #Cybersecurity #CryptoCrime 🔍 They reportedly gained unauthorized access to the Mt. Gox server, at the time the largest bitcoin exchange, transferring bitcoins to their control. Subsequently, they allegedly laundered these bitcoins primarily through accounts at two other online bitcoin exchanges. #Hacking #Bitcoin 💰 Utilizing a fraudulent contract under the guise of advertising services, Bilyuchenko and Verner allegedly orchestrated large wire transfers into various offshore bank accounts. This enabled them to conceal and liquidate the stolen bitcoins. #MoneyLaundering #Cryptocurrency ⚖️ If convicted of the money laundering conspiracy charge in the Southern District of New York, both individuals face a maximum of 20 years in prison. Bilyuchenko faces an additional maximum of 25 years if convicted of money laundering and operating an unlicensed money services business in the Northern District of California. #Justice #CrimeAndPunishment 👮 The maximum potential sentences are prescribed by Congress and are provided for informational purposes only. The actual sentencing will be determined by the Court. The defendants are presumed innocent unless and until proven guilty. #LegalUpdate #InnocentUntilProvenGuilty 🤝 This milestone in major cryptocurrency investigations was reached through the collaborative efforts of various law enforcement agencies, including IRS-CI and the FBI. Their dedication showcases an unwavering commitment to justice and prevention of financial system abuse.

[cyberazelle]

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[troydooly]

Top Three Crimes The SEC Looks For With MLM Crypto Opportunities - How T...

[mortallychaoticrebel]

Tether freezes $29.62M USDT, unmasking a Cambodian cybercrime empire. From govt connections to modern slavery, this case reshapes the crypto landscape. #TetherCrackdown #CryptoCrime #StablecoinRegulation https://finixyta.com/the-dark-side-of-stablecoins-tethers-bold-move-against-cambodian-cybercrime/

[news247worldpressposts]

#CYBERPOL Unveils Startling Report: $7 Trillion of US National Debt Linked to #Cryptocrime, Mainly #Bitcoin

July 30, 2024 In a bombshell revelation, CYBERPOL has announced that an estimated $7 trillion of the United States’ national debt, which recently surged past $35 trillion, is attributable to cryptocrime, predominantly involving Bitcoin. This staggering figure underscores the profound impact that cybercriminal activities are having on the global financial landscape. The Alarming Milestone The US…

[bitcoincables]

Crypto Crime Report 2023: Trends in Illicit Activity and Recovery in the Industry

In 2023, the cryptocurrency industry experienced a recovery with crypto assets rebounding, indicating the end of the crypto winter and the potential for a new growth phase. However, crypto crime also saw some notable trends. The value received by illicit cryptocurrency addresses dropped to $24.2 billion, a decline from previous years. Stablecoins, such as Tether, became the preferred choice for illicit transactions, surpassing Bitcoin. This shift may be due to stablecoin's increased share in legitimate crypto activity, as well as its appeal to sanctioned entities.

On the other hand, crypto scamming and hacking revenue decreased significantly. Scammers adopted romance scam tactics, targeting individuals and building relationships to pitch fraudulent investment opportunities. However, on-chain metrics suggest that scamming revenues have been trending down since 2021. Crypto hacking, particularly in decentralized finance (DeFi) platforms, also decreased, indicating improved security practices. Ransomware and darknet market activities, however, saw revenue growth, with ransomware attackers possibly adjusting to organizations' cybersecurity improvements and the rebound of the darknet market sector after a major shutdown.

The prominence of sanctions-related transactions is a significant trend in crypto crime. Sanctioned entities and jurisdictions accounted for over 60% of all illicit transaction volume, representing $14.9 billion. Some of this activity includes cryptocurrency services sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) or located in sanctioned jurisdictions. However, it is important to note that not all transaction volume associated with these entities is illicit. Furthermore, there may be underreporting and crypto users residing in these jurisdictions who engage in legitimate transactions.

Overall, the 2023 Crypto Crime Report highlights the evolving nature of cryptocurrency-based crime and the need for continued vigilance and compliance measures. Further research is expected to provide more insights into specific areas, such as ransomware, hacking, and crypto money laundering. To read the original article, please visit here.

+ Hashtags: #cryptocrime, #cryptocurrency, #bitcoin, #stablecoins

[ericvanderburg]

“Crocodile of Wall Street” and her husband plead guilty to giant-sized cryptocrimes

http://i.securitythinkingcap.com/StCLLw

[glynmaclean]

The Dark Night Online | EVENT INVITATION: INTERNATIONAL CYBER CRIME PRESENTATION Topic: Investigating International Crypto Crimes - see below for detail of the live presentation.

FOR EVENT DETAIL:

IN SUMMARY:

Speaker: Glyn MacLean

Designation: Founder - The Dark Night Online

Date & Time: 19th Feb 2023 / 10.00 am IST / UTC+5:33 offset

Live Link: https://www.youtube.com/nikhilmahadeshwar/live

Invitees: Anyone can attend

Organised by: Cyber Secured India

by Nikhil Mahadeshwar

With support of: Gray Wolf Analytics

- Forensic Intelligence Studio for Web3

Presentation by:

THE DARK NIGHT ONLINE (TDNO)  

Cyber and crypto crime investigative agency.  

Glyn MacLean, Founder

Speaking to:

Crypto and Cyber Crime Epidemic.

What is happening worldwide.

Ideas to improve responses.

Methodological approach.

TDNO investigates the nature of the loss, the parties involved, forensic identity and financial evidence is investigated.

And will include how,

Law enforcement and prosecutors are assisted by improving the efficacy of evidence. Evidence to assist law enforcement is provided for the recovery of the financial assets through criminal prosecution, by the following methods: 

Cyber forensic analysis 

Blockchain forensic tracking and tracing 

Cryptocurrency digital asset analysis 

(Follow the money.)

Providing demonstrative evidence 

Being an Expert Witness 

Providing Paralegal evidence preparation  

Statement of facts, Sequence of events 

Forensic or real source evidence.

Blockchain financial investigation provides: 

Forensic chain of custody of digital assets 

Chain of evidence to criminal source 

Demonstrative evidence 

Expert Witness  

Targets 

Cyber investigation provides:  

Forensic evidence of criminal digital infrastructure  

Chain of evidence to criminal digital source 

Collaboration with digital platforms  

Infrastructure takedowns

#cybercrime #blockchain #cyber #digital #india #collaboration #events #money #infrastructure #analytics #cryptocurrency #intelligence #lawenforcement #cryptocrime

https://www.thedarknight.online/post/international-cyber-crime-presentation

[redmined]

Bitzlato, Binance and What Regulators Are Really Doing

That doesn’t necessarily mean Bitzlato was not “the China-based money laundering engine that fueled a high-tech axis of cryptocrime,” as the FBI alleges. After all, darknet transactions are supposed to be secretive. But at its height, the exchange only held $6 million in funds – a remarkably miniscule amount. Likewise, similar Web searches show how little traffic the so-called crime hub…

[marketingstrategy1]

Does the Bitzlato 'Nothingburger' Spell Bad News for Binance?

That doesn’t necessarily mean Bitzlato was not “the China-based money laundering engine that fueled a high-tech axis of cryptocrime,” as the FBI alleges. After all, darknet transactions are supposed to be secretive. But at its height, the exchange only held $6 million in funds – a remarkably miniscule amount. Likewise, similar Web searches show how little traffic the so-called crime hub…

[blockgeni]

In order to identify themselves on the cryptocurrency exchange Bitzlato, users were not required to take selfies or present passports. For allegedly processing $700 million in illegal funds through the darknet market, Hydra Market, the CEO of cryptocurrency exchange Bitzlato Ltd. was arrested. Anatoly Legkodymov, a Russian national living in Shenzhen, China, was due to be charged in the Southern District of Florida today. Legkodymov, the founder and principal shareholder of the cryptocurrency exchange, was detained for allegedly operating a company that transferred and transmitted illegal money in violation of U.S. anti-money laundering regulations. He is found guilty of operating an unregistered money-transferring business and receives a maximum sentence of five years in prison. The Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury and French authorities both took enforcement action at the same time. Bitzlato received more than $15 million in ransomware revenue, which was also advantageous. Anti-Money Laundering Measures Were Not Implemented by the Exchange Deputy Attorney General Lisa Monaco stated during a press conference that "the Department of Justice dealt a serious blow to the cryptocrime ecosystem" today. "Today's measures convey a very clear message: you can expect to answer for your crimes in a U.S. courtroom whether you break our laws from China or Europe, abuse our financial system from a tropical island, or anywhere else. Legkodymov, 40, is suspected of participating in the management of a cryptocurrency exchange that "Failure to put necessary anti-money laundering safeguards in place allowed criminals to profit from their wrongdoing, such as ransomware and drug trafficking, according to Assistant Attorney General Kenneth Polite, Jr. of the Criminal Division of the Justice Department. The startup Bitzlato promoted itself as one that hardly required its customers to provide identification, stating that neither selfies nor passports [are] required, the omission of know-your-customer (KYC) processes that financial firms are expected to adhere to. According to the Department of Justice, the cryptocurrency exchange informed its users that they may give information to "straw man" registrants. Selling Bitzlato as a No-Questions-Asked Crypto Exchange According to the allegations, Bitzlato offered itself to criminals as a no-questions-asked cryptocurrency exchange and benefited from the deposits of hundreds of millions of dollars as a result, according to U.S. Attorney Breon Peace for the Eastern District of New York. With Bitzlato, Hydra users transacted over $700 million in cryptocurrencies directly or indirectly. In April 2022, Hydra was shut down by German and American law enforcement. According to the criminal complaint, Bitzlato allegedly permitted users of its customer service portal to often seek support for transactions with Hydra, which Bitzlato commonly provided, and admitted in discussions with Bitzlato workers that they were trading under assumed names. Legkodymov and Bitzlato's other managers allegedly knew that a significant portion of the company's accounts included illegal activities and that many users registered using false identities. On May 29, 2019, Legkodymov informed a different coworker using Bitzlato's internal chat system that the exchange's users are "known to be thieves, creating accounts using other people's identity documents. According to the complaint, despite Bitzlato's claim that it does not accept US customers, US users were involved in "substanial" business transactions. Bitzlato's customer care representatives informed customers that they could fund their accounts using U.S. banking institutions. Bitzlato's digital infrastructure was taken down by French authorities, who collaborated with Europol and law enforcement colleagues in Cyprus, Portugal, and Spain. Bitzlato's cryptocurrency was also seized.

In relation to Russian illegal finance, the Treasury Department's FinCEN designated Bitzlato as a "major money laundering concern." Source link  

[catherinemartinez]

Set, Camera 🎥, Action. It gladdens me to tell you all that I will be approaching @foxnews to talk about crypto currency and it’s stage of evolution with solutions to tackle crypto crime. #foxnews #fox #cryptocurrency #crypto #cryptocrime #womancrushwednesday #wcw #wcw❤️ #wcw😍 #houseofthedragon https://www.instagram.com/p/ClULXBlMnq6/?igshid=NGJjMDIxMWI=

[cyberazelle]

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