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A gang of Russian and Ukrainian criminals allegedly robbed multiple global financial establishments for USD 1,24 billion and then laundered the money converting it into Bitcoins. A very intricate plan which lead the group to avoid getting caught for a long time. Luckily, the Spanish Police managed to apprehend these cybercriminals, putting an end to their…
One of the main problems around cryptocurrency is that it makes money laundering much easier. What is more disturbing is that crypto-exchanges are fairly ill-equipped to combat these issues. The recent Coincheck hack highlights money laundering potential of the digital currency. When Coincheck was hacked earlier this year, over $500 million got stolen in NEM. It is…
The world of cryptocurrency has its fair share of corruption and malicious activities. Three cryptocurrency exchanges working in South Korea have been suspected for embezzlement of their customers’ funds and were raided by the Seoul Southern District Prosecutors’ Office. According to a report, the exchanges came under the eyes of the Financial Services Commission (FSC)….
Eldon Stone Ross, a 24-year-old male, based in Kennett Square has managed to sale $1.5 million in Bitcoins throughout a course of two years, but only reimbursed $40,000 as money earned as commission. The fraudulent act has landed the man with a one-year and one-day sentence to federal prison. The verdict was passed on 28th…