Tether, the world’s largest stablecoin issuer, reportedly played a crucial role in a joint operation led by Dutch and U.S. law enforcement agencies to dismantle two cryptocurrency exchanges suspected of money laundering. The operation resulted in the seizure of €7 million ($7.8M) in crypto and the freezing of illicit wallets. Tether Works With Law Enforcement…
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Tron, Tether, and TRM Labs have announced the creation of the T3 Financial Crime Unit (T3 FCU), a new initiative aimed at fighting illicit activity in the cryptocurrency space. The partnership, focused on public-private collaboration, seeks to improve security within the Tron blockchain and reduce the misuse of its tether (USDT) stablecoin. Crypto Giants Tron,…
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Holly Danielle Adams, 34, from California, has pleaded guilty to charges of drug distribution conspiracy and money laundering via cryptocurrency mixers. This case stems from an investigation by the Northern California Illicit Digital Economy (NCIDE) Task Force, a federal team dedicated to combating all forms of illegal dark web and cryptocurrency activities in the Eastern…
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Blockchain analytics firm Chainalysis has found that law enforcement finds cryptocurrency relevant to many investigations and holds positive overall views. The firm also notes the growing adoption of cryptocurrency and its increased criminal exploitation, including intellectual property theft and drug trafficking. Despite the availability of various tools, many respondents are dissatisfied with current resources, highlighting…
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China’s police have uncovered a $1.9 billion USDT underground banking operation going against Chinese crypto bans. On May 15, the Chengdu Municipal Public Security Bureau announced the detection of a huge underground bank operation in a press release. This was the culmination of an investigation that started in November 2022 when the Longquanyi District Branch…
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Lending protocol Sonne Finance halted operations after a hack drained $20 million in cryptocurrencies, including WETH and USDC. On May 14, around 10:30 pm UTC, Web3 security firm Cyvers detected an ongoing attack on Sonne Finance’s USD and Wrapped Ether (WETH) contracts, at the time they had only stolen $3 in cryptocurrency. ALERTWe have detected…
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An unknown trader lost $68 million worth of Wrapped Bitcoin (WBTC) in a single transaction in an address-poisoning scam on May 3, according to security firm Cyvers. ALERTAre we mistaken, or has someone truly lost $68M worth of $WBTC? Our system has detected another address falling victim to address poisoning, losing 1155 $WBTC. Victim: https://t.co/5NKlOFnepJ…
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Victoria Jacobs, aka Bakhrom Talipov, was sentenced to 18 years in prison by a New York State court jury after being found guilty of funding Syrian terrorism through Bitcoin. The Manhattan District Attorney’s office said Jacobs was “fully immersed in online terrorist ecosystems,” as per their press release. She played a critical role in “raising…
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New powers that will make it easier for UK law enforcement agencies to seize crypto come into effect on Friday. This comes after the UK Parliament passed new legislation last year, dubbed the ‘Economic Crime and Corporate Transparency Act.’ This Act expanded the authority of local law enforcement and laid the foundations for crypto to…
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The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) said it has seen a rise in the number of Bitcoin transactions used in connection with human trafficking and online child exploitation cases. According to FinCEN recent findings show 95% of cases involving online child exploitation and human trafficking-related cases there was a connection with digital assets…
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