Crimes

Crypto crimes are no excuse for taking away digital asset fungibility

The modern world has become too small for comfort. The truth is that technological advancement is a double-edged sword, which has the potential to enhance human lives drastically at many levels and disrupt them in the blink of an eye, shaping things on a global level to an extent yet not seen.  Even though we …

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Police summon Bithumb chairman for questioning over alleged fraud

The drama over alleged fraud involving Bithumb’s senior executives continues as the company’s chairman has reportedly been summoned for interrogation. The Seoul Metropolitan Police Agency is purportedly seeking to question Lee Jung-hoon, chairman of board at Bithumb Korea and Bithumb Holdings, according to a Sept. 18 report by South Korea’s state-run news agency Yonhap. As …

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Major Chilean bank shuts down all branches following ransomware attack

Banco Estado, the only public bank in Chile and one of the three largest in the country, had to shut down its nationwide operations on Monday due to a cyberattack that turned out to be a ransomware launched by REvil. According to a public statement, the branches will remain closed for at least one day, …

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YouTube pulls the plug on another crypto livestream

Crypto YouTuber Sunny Decree recently saw his livestream cut short by YouTube, with the platform stating the video had violated its ‘harmful and dangerous policy.’ According to a Sept. 5 tweet from Sunny Decree, the video-sharing platform halted his most recent livestream on his English language channel — based in Switzerland, the content creator also …

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Bithumb found ‘partially liable’ for a 2017 hacking incident

A judge in the Seoul Central District Court dismissed two claims filed by individuals against the controversial crypto exchange, Bithumb. The individuals were seeking $126,000 and $38,000 respectively for damages related to a data breach incident back in 2017. According to Fn News, plaintiffs Hong and Seo (both named only by their surname) stated that …

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AlphaBay darknet market moderator sentenced to 11 years in Jail

One of the men responsible for moderating content on the now defunct AlphaBay darknet market will be in jail until 2031. According to a Sept. 1 statement from the U.S. Department of Justice, 26-year-old Bryan Connor Herrell was sentenced to 11 years in prison for conspiring to engage in a racketeer-influenced corrupt organization, for his …

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A new report from Mexico says banks are used to launder money more than crypto

Mexico’s Financial Intelligence Unit recently published the results of its second National Risk Assessment. The report highlighted that the risk of money laundering in the banking sector far surpasses the issues encountered by fintech companies. According to El Economista, the so-called “G7 banking” group – BBVA, Santander, Citibanamex, Banorte, HSBC, Scotiabank, and Inbursa – registers …

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House Dems request Trump admin. briefing on crypto seized from terrorists

On Monday, two Democratic Representatives asked the Trump administration to provide more information on cryptocurrency recently seized from terrorists. According to an Aug. 26 report by The Hill, the request is related to the millions of dollars in crypto assets that the U.S. Department of Justice seized from several terror organizations. Organizations involved included Al-Qaeda, …

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Waterloo residents have lost $430K to crypto scams this year

Waterloo, Ontario is the first Canadian city to issue a general warning after 78 residents were duped by crypto scammers in 2020. According to Global News, Waterloo residents have lost more than $430,000 so far this year, with 29 of the 78 falling victim in July alone.  As previously reported, fraudsters have been impersonating government …

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KuCoin Warns of Impersonator Website Offering Incentives to Deposit Crypto

Cryptocurrency exchange KuCoin has issued a warning to users regarding a fraudulent website using its branding in an attempt to steal cryptocurrency. According to the report, posted Aug 19, the website is offering false incentives to entice users to deposit digital assets. It further clarifies that the web address “https://c.yrsm.net/app.php/MzI1” has no relationship to the …

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