17 Nov 2020

Crypto Firm Offers $200,000 Bug Bounty to Hacker Who Stole $2m

On Thursday, cryptography borrowing and savings company Akropolis suffered from a cyberattack after a hacker exploited a bug in its SavingsModule smart contract. The cyberattacker was able to steal over two million in DAI virtual currency. The company is now offering the attacker a $200,000 reward as a bug bounty

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21 Sep 2020

Sanctioned Putin associate ‘laundered millions’ through Barclays

According to recently leaked documents, one of Vladimir Putin’s closest friends may have been laundering money and avoiding sanctions through Barclays Bank in London. The associate, billionaire Arkady Rotenberg, has been close to the president since childhood. Barclays has released a statement claiming that it has met all legal duties

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28 Jul 2020

Malaysian ex-PM Najib given 12 years in jail in 1MDB scandal

On Tuesday, former Malaysian Prime Minister Najib Razak was found guilty in the first of several corruption trials. The former PM allegedly played a role in the multibillion-dollar looting of the 1MDB state investment fund. Razak will serve 12 years in prison in accordance with the conviction. The jail time

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24 Jun 2020

New Zealand seizes $90 million in assets of Russian cybercrime suspect

New Zealand law enforcement has reportedly seized assets worth $90.68 million from a Russian man who is suspected of money laundering billions of dollars in digital currency. The assets were being held in a New Zealand company owned by cybercriminal Alexander Vinnik, who is wanted in the US, France, and

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16 Mar 2020

Big BEC Bust Brings Down Dozens

Federal officials have arrested two dozen individuals as part of a business email compromise scheme that has cost victims $30 million in total. The individuals were arrested on charges related to fraud and money laundering schemes. Most of the individuals reside in Atlanta, Georgia, and are alleged to have committed

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02 Mar 2020

Microsoft Engineer Pleads Guilty to $10m Fraud Scheme

A former Microsoft engineer, Ukrainian citizen Volodymyr Kvashuk from Washington state is facing 20 years behind bars after being found guilty of attempting to defraud Microsoft of $10 million. Kvashuk was initially a contractor for Microsoft before being hired as a full-time employee in August 2016. Kvashuk was convicted on

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17 Dec 2019

Inside ‘Evil Corp,’ a $100M Cybercrime Menace

Earlier this month, the US Justice Department offered a $5 million reward for information leading to the conviction of a Russian man, Maksim Yakubets, for his role in orchestrating an international cybercrime network ironically named “Evil Corp.” Yakubets and his associates stole roughly $100 million from US and European business

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15 Nov 2019

Alleged $20M Carding Forum Mastermind Faces US Charges

Russian citizen Aleksei Burkov is facing charges of running a $20 million carding forum. Burkov arrived at Dulles International Airport on Monday after being arrested in Israel in 2015, and now faced charges within the US after several attempts to circumvent extradition to the U.S. Burkov allegedly ran the site

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23 May 2019

Bestmixer seized by police for washing $200 million in tainted cryptocurrency clean

Europol together with Dutch and Luxembourg authorities seized Bestmixer.io on Wednesday because they believe the “world’s leading cryptocurrency mixing service” has laundered over $200 million in cryptocurrency linked to criminal activities. Bestmixer.io had been operating for about one year when it was shut down. By “mixing” cryptocurrencies from multiple sources

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28 Dec 2018

US says drug gangs moving money via China crypto channels

While cryptocurrencies are involved in only a small fraction of the estimated $2 trillion trillion in laundered money every year, its share is rising. Now, the DEA has stated that Mexican drug cartels are increasingly using money laundering and cryptocurrency channels based in Asia to move and “clean” their money.

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