05 Oct 2022

SEC Cracks Down on Multimillion Crypto Ponzi Targeting Latino Investors

The U.S. Securities and Exchange Commission (SEC) ordered the emergency shutdown of an ongoing fraudulent crypto offering targeting the country’s Latino community. CryptoFX, a Texas-based firm run by Mauricio Chavez and Giorgio Benvenuto, both residents of Houston, allegedly “used the attraction and novelty of crypto assets to solicit money from

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03 Oct 2022

Kim Kardashian charged by SEC over alleged ‘pump and dump’ crypto scheme, will pay $1.26M

Kim Kardashian has landed in hot water with the feds over an Instagram post promoting a cryptocurrency asset that has been blasted by critics as an alleged “pump and dump” scheme. The Securities and Exchange Commission announced on Monday that it has charged the reality television star and social media

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29 Sep 2022

Cryptocurrency and anti-money laundering enforcement

For many decades, the U.S. government has required financial institutions to take steps to help detect and prevent financial crimes including money laundering and terrorist financing. Federal law requires financial institutions to keep records of cash purchases of negotiable instruments, file reports of cash transactions exceeding $10,000, identify and assess

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27 Sep 2022

Japan cryptocurrency transfer rules take aim at money laundering

The Japanese Government will reportedly put in place some remittance regulations in an effort to stop criminals from utilizing crypto exchanges to launder money. The new rules are expected to take effect from next spring, supposedly as early as May 2023. Japan has already implemented the Act on Prevention of

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23 Sep 2022

Brazilian Federal Police Launch Operation Colossus, 6 Cryptocurrency Exchanges Involved

The Brazilian Federal Police and the Brazilian tax authority have launched the final stage of “Operation Colossus,” a movement that has executed hundreds of court orders against cryptocurrency exchanges, arbitrage agents, and fake companies in four states of the country. 158 government officers, including 130 federal policemen, were involved in

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19 Sep 2022

South Korea asks Interpol to prevent Terra founder from fleeing extradition

South Korean authorities have asked Interpol for a red notice to prevent the crypto entrepreneur Do Kwon from fleeing extradition, days after the Terra founder denied being “on the run” in a message posted to his Twitter account. The international cat-and-mouse chase comes amid another collapse in the value of the

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13 Sep 2022

Coinbase employee mired in first insider trading case involving cryptocurrency

The brother of a former Coinbase Global Inc product manager pleaded guilty on Monday to a wire fraud conspiracy charge, in what US prosecutors have called the first insider trading case involving cryptocurrency. Nikhil Wahi, 26, admitted during a virtual court hearing before US district judge Loretta Preska in Manhattan

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26 Aug 2022

Illicit crypto activity more resilient than legitimate demand

Despite the cryptosphere going through a harsh winter the sector maintains its attractiveness to one sector – illicit users. According to Chainalysis’ Mid-year Crypto Crime Update report, criminal activity appears to be more resilient in the face of price declines: Illicit volumes are down just 15% year-on-year, compared to 36%

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22 Aug 2022

Ronin Hackers Have Moved The Stolen $625M to Bitcoin Network: Report

Ronin hackers have transferred the stolen assets from Ethereum to the Bitcoin network, according to new findings by blockchain investigator and developer ₿liteZero. Recall that after the Ronin bridge hack in March, the attackers moved the $625 million worth of USDC and ETH to Ethereum-based crypto mixer Tornado Cash, making it

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16 Aug 2022

Crypto Mixing Service Caught Up in Storm of Controversy

Earlier this year, Roman Semenov, co-founder Tornado Cash, a mixing service for cryptocurrencies, said that it would be “technically impossible” for sanctions to be enforced against decentralized protocols. “All we do is write code and publish it on GitHub,” Semenov told Bloomberg, referring to the internet hosting service. “This is pretty

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