In recent years, cryptocurrency has emerged as a popular form of investment and financial transactions, with many people turning to digital currencies like Bitcoin and Ethereum. However, the rise of t...
Tag: Illicit
Composable Finance’s CTO resigns over alleged illicit operations by its CEO
Karel Kubat the chief technical officer (CTO) of Composable Finance, has resigned from the project, citing several illegal practices by the company’s CEO Omar Zaki. Karel Kubat has resigned from the c...
Using Blockchain for Illicit Content Causing a Divide in Opinion
Blockchain technology has seen a surge in adoption across the globe, given the censorship and immutable features. But the same perks can also be used to promote store illicit or copyrighted content. W...
Report: Illicit Crypto Activity Reached Its Highest Point in 2022
Illicit cryptocurrency transactions increased tenfold in 2022, marking the highest total figure yet in the history of crypto. In what was arguably the worst year for bitcoin and its crypto cousins to ...
New tool lets Tornado Cash users privately show their funds were not illicit
A tool built by Chainway lets Tornado Cash users prove their initial deposits were not from a list of wallets containing stolen funds — without revealing their own address. Called Proof of Innoc...
Bitzlato founder arrested for allegedly processing $700 million in illicit funds
The founder of cryptocurrency exchange Bitzlato was arrested and charged with processing $700 million in illicit funds, part of the Justice Department’s efforts to take down a “money laund...
Illicit Crypto Transactions in 2022 Surpassed $20 Billion for the First Time: Chainalysis
Illegal financial transactions involving cryptocurrencies in 2022 have reportedly surged for a second consecutive year, tapping an all-time high of $20.1 billion. The previous record was in 2021, whe...
An All-Time High Illicit Crypto Transaction Volume; Reports Suggest
Chainalysis released the yearly analysis of the illicit crypto transaction volume. The platform declared that the illicit transaction volume has reached an all-time high of $20.1 billion. All the shar...
Illicit crypto transactions reached all-time highs in 2022: Report
2022 set the record in illicit on-chain transactions, setting aside the criminal investigations of failed crypto businesses like FTX, Celsius, Three Arrows Capital, Terraform Labs and others. Accordin...
Blockchain analytics unable to prevent FTX-level illicit schemes
Data transparency has been a focal point for the cryptocurrency industry, but the FTX fiasco has shown that centralized exchanges (CEXs) are not transparent enough. So far, crypto analytics firms are ...
Crypto Sports Betting Sites Can Beat Illicit Betting From The Industry
FIFA World Cup Qatar 2022 is on a roll having already peaked a total viewers count to over 14 Million during Kylian Mbappe’s late winner against Australia. Sports events like this attract a lot of ind...
FTX Founder SBF Unaware of Illicit Use of Customer Funds?
47 mins ago | 2 mins read Exchange News Bankruptcy crypto exchange FTX has an $8 billion hole in its balance sheet. FTX’s SBF has one credit card left and $100,000 in the bank account. The notorious f...
Illicit cross-chain transfers expected to grow to $10B: Here's how to prevent them
Forecasts predict cryptocurrency criminals laundering more than $10 billion through cross-chain bridges by 2025, leading to calls for holistic screening solutions. Improved blockchain analytics will b...
Mustafa Gokiu Guilty of Running Illicit Crypto Business
Mustafa Gokiu – a man living in the town of Sunnyside, New York – was convicted in mid-October by a federal jury in Brooklyn for allegedly running a crypto money laundering and drug scheme. It is stat...
U.S. Department of Defense taps intelligence firm to evaluate crypto threat to national security
The U.S. Department of Defense hired a crypto intelligence firm to review the potential security threat of cryptocurrencies. DARPA, the Defense Advanced Research Projects Agency, has tasked Inca Digit...
South Korea Uncovers $650M in Illicit Funds Moved via Crypto Exchanges
According to a local report, the South Korean Financial Supervisory Service (FSS) has uncovered illegal international fund transfers of an additional $650 million linked to crypto exchanges. In June,...
U.S. Treasury Seek Public Opinion on the Role of Cryptocurrency in Illicit Finance – crypto.news
On Monday, the U.S. Department of the Treasury filed a Request for Comment (RFC) asking the public to share their views regarding the use of cryptocurrency in financial crime and the associated risks ...
US Treasury Wants Public to Comment on Crypto’s Role in Illicit Finance
“The growing use of digital assets in financial activity heightens risks of crimes such as money laundering, terrorist and proliferation financing, fraud and theft schemes, and corruption,” the notice...
Binance CEO Refutes Claims of Exchange’s Illicit Link to China
3 hours ago | 2 mins read Exchange News CZ explains that Chen is actually a coworker he met through a mutual friend. CZ responded to criticism in a blog post published by Binance on Thursday. Changpen...
Over $100 million worth of NFTs were stolen since last year: Elliptic
A new report from the blockchain analytics firm Elliptic sheds light on non-fungible token (NFT) theft, scams and other illegal activity. Elliptic’s report found that over $100 million worth of NFTs ...
Uniswap Blacklists 253 Crypto Wallets Linked to Illicit Activities – crypto.news
Over the last four months, Uniswap blocked more than 250 addresses linked to various illegal activities. The information was revealed by Jordan Frankfurt, a software developer with Uniswap, who publis...
Illicit activity outpaces legitimate uses despite crypto downturn
Illicit transaction volumes are down just 15% Legitimate transaction volumes are however, down by 36% Total crypto market cap fell roughly 44% Crime in digital currency was stronger than genuine...
Illicit Crypto Activity Falls — Scam Revenue 65% Lower Than Last Year – Featured Bitcoin News
Chainalysis has found that illicit crypto volumes are down this year, with total scam revenue sitting at $1.6 billion, 65% lower than where it was through the end of July last year. “Those numbers sug...
Tornado Cash Responsible for Stopping Illicit Activity, Officials Say
Chainalysis reports 10.5% of funds ran through Tornado Cash were stolen Classifying code as an entity for the purpose of sanctions laws gets complicated, experts say The Treasury Department’s decision...
South Korean Prosecutors Firing Up Against Illicit Bitcoin ‘Kimchi Premium’ Transactions
South Korean Prosecutors are suspicious of illegal foreign exchange trading Watchdogs are in strong doubt about money laundering and illegal forex trading FSS is going head-on against the two lenders...
Mixing Services Reaches All-time High Due To Illicit Activities: Chainalysis
Cryptocurrencies sent to mixing services reached an all-time monthly high of $51.8 million in April. Mixing services allow cryptocurrency owners to obscure the source of funds. Chainalysis also reveal...
Crypto mixers’ popularity booms as illicit addresses push volumes to ATH: Report
As on-chain activities slow down during the crypto winter, usage of cryptocurrency mixers has doubled in 2022, with addresses classified as “illicit” being the top contributor. Cryptocurrency mixers,...
Demand for Crypto Mixers Hits ATH, Illicit Address Activities Draws Majority
The rising use of mixers in the crypto space draws public attention. Criminals and their illicit activities are being accused of involving in this situation, according to Chainalysis. The blockchain ...
Illicit Crypto Moving to Mixers on Pace to Double in 2022
Illicit addresses account for 23% of funds sent to mixers so far in 2022, up from 12% in 2021 Groups associated with the North Korean government are sending about half of the funds going to mixers Mor...
US Treasury Seeks Public Comments on Crypto-Related Illicit Finance and National Security Risks – Regulation Bitcoin News
The U.S. Department of the Treasury is seeking public input on “digital-asset-related illicit finance and national security risks.” The department warned: “The growing use of digital assets in financi...