Category: Laundering
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Bybit hackers resume laundering activities, moving another 62,200 ETH
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The Lazaros Group in North Korea washed 62,200 from the ether, at a value of $ 138 million, from February 21 on March 1 – leaving only 156,500 to be transferred. Nearly 343,000 Ether (ETH) has been transferred from 499,000 stolen ether from the BYBIT penetration of $ 1.4 billion,…
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MELANIA And LIBRA Wallets Allegedly Tied To Money Laundering
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Crypto investigators have informed suspicious transactions associated with the governor associated with Melania and Mimikwins Al -Mizan. Blockchain data shows that these portfolios have transferred large sums of money, raising concerns about the capabilities Money laundering. About 19,846 Sol, worth about $ 2.76 million, was used to buy Pope Mimikoen.…
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BitMEX Slapped With $100 Million Fine For Violating Anti-Money Laundering Laws
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BitMEX, the cryptocurrency trading platform, suffered significant losses $100 million fine Because it violates US Anti-Money Laundering (AML) requirements. This penalty arises from the company’s non-compliance with the US Bank Secrecy Act (BSA), which has allowed illegal transactions to take place on its platform for several years. Non-compliance with KYC…
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BitMEX Slapped With $100 Million Fine For Violating Anti-Money Laundering Laws
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BitMEX, the cryptocurrency trading platform, suffered significant losses $100 million fine Because it violates US Anti-Money Laundering (AML) requirements. This penalty arises from the company’s non-compliance with the US Bank Secrecy Act (BSA), which has allowed illegal transactions to take place on its platform for several years. Non-compliance with KYC…
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US Cracks Down on North Korea’s Crypto-Fueled Money Laundering Network
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According to another ReportsThe United States has made efforts to disrupt illicit cryptocurrency-related networks supporting the North Korean government, announcing sanctions on two individuals and one entity in the United Arab Emirates. In particular, the US Treasury Department said that the parties acted as front companies for the North Korean…
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Crypto Mixer Jailed For 12.5 Years After $400M Money Laundering Conviction
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The founder of a cryptocurrency mixing platform will end up in a US prison cell and return to his home country for 12.5 years after a federal court ruled that the owner of the cryptocurrency company was guilty of money laundering. This ruling serves as a reminder that the US…
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Ireland To Draft Urgent Crypto Laws Ahead Of EU’s Crackdown On Money Laundering
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Ireland appears to be taking rapid action to implement new cryptocurrency regulations in anticipation of upcoming EU anti-money laundering (AML) and counter-terrorism financing (CTF) standards. Finance Minister Jack Chambers Announce to the Cabinet that urgent legislation will be drafted to update the country’s cryptocurrency regulations before new EU laws come…
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Ireland To Draft Urgent Crypto Laws Ahead Of EU’s Crackdown On Money Laundering
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Ireland appears to be taking rapid action to implement new cryptocurrency regulations in anticipation of upcoming EU anti-money laundering (AML) and counter-terrorism financing (CTF) standards. Finance Minister Jack Chambers Announce to the Cabinet that urgent legislation will be drafted to update the country’s cryptocurrency regulations before new EU laws come…
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TD Bank nears possible guilty plea in money laundering probe, WSJ reports By Reuters
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(Reuters) – TD Bank is close to potentially pleading guilty to criminal charges that its U.S. retail bank failed to curb money laundering linked to Chinese criminal groups and illicit sales of fentanyl, the Wall Street Journal reported on Friday. Canada’s second-largest bank is in talks with US federal prosecutors…
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Bitzlato Founder Sentenced to Prison for Facilitating Money Laundering
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On July 18, Judge Eric Vitaliano sentenced the founder of cryptocurrency exchange Pizzalato to 18 months in prison, time he has already served, for running an unlicensed money transfer business. Anatoly Legkodimov pleaded guilty last year to running an operation that facilitated the concealment of more than $700 million in…
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Bitzlato Founder Sentenced to Prison for Facilitating Money Laundering
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On July 18, Judge Eric Vitaliano sentenced the founder of cryptocurrency exchange Pizzalato to 18 months in prison, time he has already served, for running an unlicensed money transfer business. Anatoly Legkodimov pleaded guilty last year to running an operation that facilitated the concealment of more than $700 million in…
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Co-founder of Bitzlato avoids extra jail time in $700m money laundering case
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The Russian founder of Bitzlato has been sentenced to a fixed term in prison for facilitating more than $700 million in illegal crypto transactions. Anatoly Legkodimov, a Russian co-founder of Hong Kong-based cryptocurrency exchange Bitzlato that processed more than $700 million in illicit cryptocurrency on the dark web, has been…
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How A Leading Crypto Exchange Violated Anti-Money Laundering Laws
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Copyright: Shutterstock The cryptocurrency industry has had a turbulent journey, with triumphs and setbacks. One of these setbacks was the high-profile case BitmexBitMEX, a prominent Bitcoin exchange, has found itself at the center of a legal storm over its blatant disregard for anti-money laundering laws. This article delves into the…
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How A Leading Crypto Exchange Violated Anti-Money Laundering Laws
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Copyright: Shutterstock The cryptocurrency industry has had a turbulent journey, with triumphs and setbacks. One of these setbacks was the high-profile case BitmexBitMEX, a prominent Bitcoin exchange, has found itself at the center of a legal storm over its blatant disregard for anti-money laundering laws. This article delves into the…
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TD’s chief compliance officer departs amid US anti-money laundering probe By Reuters
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TORONTO (Reuters) – TD Bank’s chief compliance officer has left the bank, according to an internal memo, as the Canadian lender faces U.S. regulators and the Justice Department in an investigation into its anti-money laundering program. Monica Kowal, who joined the bank in 2017, left the company this week and…
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UwU Lend announces $5m bounty as hacker starts laundering stolen funds via Tornado Cash
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Decentralized lending protocol UwU Lend has revealed a $5 million reward to “identify and locate the exploiter.” Developers of UwU Lend Promising To pay up to $5 million to “the first person to identify and locate the hacker,” who exploited the protocol for more than $23 million in cryptocurrency. The…
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UwU Lend announces $5m bounty as hacker starts laundering stolen funds via Tornado Cash
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Decentralized lending protocol UwU Lend has revealed a $5 million reward to “identify and locate the exploiter.” Developers of UwU Lend Promising To pay up to $5 million to “the first person to identify and locate the hacker,” who exploited the protocol for more than $23 million in cryptocurrency. The…
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Court Sentences Gang For Exploiting Digital Yuan In Money Laundering Scheme
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In a groundbreaking legal case, a criminal gang in China has been found guilty of organizing a complex money laundering operation that leveraged the country’s central bank digital currency (CBDC), the digital yuan or e-CNY. The complex scheme, revealed by the People’s Procuratorate of Yueqing District in Shaoxing, Zhejiang Province,…
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Court Sentences Gang For Exploiting Digital Yuan In Money Laundering Scheme
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In a groundbreaking legal case, a criminal gang in China has been found guilty of organizing a complex money laundering operation that leveraged the country’s central bank digital currency (CBDC), the digital yuan or e-CNY. The complex scheme, revealed by the People’s Procuratorate of Yueqing District in Shaoxing, Zhejiang Province,…
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British-Chinese Woman Sentenced to 6 Years for Laundering Bitcoin in $6B Scam
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In a high-profile case involving a large-scale cryptocurrency fraud, a British-Chinese woman, Jian Wen, has been sentenced to six years and eight months in prison for her role in laundering Bitcoin proceeds from a $6 billion investment scam in China. Wen, 42, was convicted in March of laundering bitcoin on…