How US authorities are using old AML tools to crack down on crypto

With new changes to the Travel Rule up for discussion and a bevy of new cases in the courts, it's time to look at how US AML law is shifting to cope with crypto. The ease of laundering money in the US before 1970 boggles the mind.

Cybercrime task force monitoring the global digital financial system

Regulators are addressing the growing threat of transnational cybercrimes in the financial industry. The United States faces a growing threat of transnational cybercrime, particularly against its financial system.

Law Decoded: Government sandboxes, test beds and crypto compromises, Oct. 16-23

These week's news highlighted how governments test new regimes for cryptocurrency, which can be slow but are certainly some kind of progress. A line from immortal comic strip Calvin & Hobbes goes “a good compromise leaves everybody mad.” When it comes to laws governing crypto, authorities are usually asking for pretty major compromises because they are, at their very best-intentioned, trying to work things out. Whi

DOJ’s Crypto Framework Is ‘a Complete Disaster’ for Digital Privacy Rights

The US Department of Justice's enforcement framework may pose a serious threat to the digital privacy rights of crypto users.

US Charges 6 With Laundering Mexican Drug Cartel Cash Using Crypto and Casinos

The US Department of Justice charged the six individuals for alleged involvement in laundering funds from Mexican drug cartels after an investigation spanning years.

The US Crypto Enforcement Framework Is a Warning to International Exchanges

The US Department of Justice’s cryptocurrency enforcement framework is a warning shot to exchanges worldwide: Comply with US law or face the potential wrath of the federal government.

BitMEX operator hires chief compliance officer amid US criminal charges

The hire comes after BitMEX's founders were charged with failing to prevent money laundering and operating an unregistered trading platform illegally in the United States.

Data encryption a threat to fighting child sexual abuse, says DOJ

The department, along with other international agencies, alleged end-to-end encryption can create “severe risks to public safety.” The US Department of Justice has released an international statement claiming that end-to-end encryption “poses significant challenges to public safety,” including sexually exploited children.  In an Oct.

A Regulatory Reckoning for the Crypto Industry?

Between BitMEX action, the UK’s derivative ban and the new US Department of Justice enforcement framework, regulations are coming for crypto.

Bitcoin Whale Issues Crypto Market Warning After US Department of Justice Releases Enforcement Framework

One of the few Bitcoin whales willing to release public statements says a new enforcement framework from the US Department of Justice could have negative long-term ramifications on the crypto markets.

Law Decoded: Police and thieves on their screens, Oct 2–9

The Department of Justice made headlines in crypto and elsewhere, leading a week of law enforcement locking down around the world. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor's note Historians typically date the birth of international policing as we know it today to the 1800s, a response to the explosion in nationalist movements and non-governmental political radicalism in Europe.

BitMEX CTO Released On USD 5m Bond, USD 2bn Blockchain City + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Legal news BitMEX Chief Technology Officer Samuel Reed, who was charged and arrested by the US Department of Justice, has been released on a USD 5m appearance bond, as first reported by The Block.

BitMEX founder and ex-CTO out on $5M bail bond until court appearance

October has been a dramatic month for the top brass of BitMEX crypto derivatives exchange, whose founders face multiple charges from US authorities. BitMEX's co-founder and former chief technical officer, Samuel Reed, has signed a $5 million unsecured appearance bond for his release from custody pending court proceedings.  Reed had been arrested by the United States Department of Justice in Massachusetts on Oct.

BitMEX CTO released on $5 million bond

BitMEX CTO Samuel Reed, who was charged and arrested by the US Department of Justice on October 1, has been released on a $5 million appearance bond. Source: USDOJ Reed, was arrested on charg The post BitMEX CTO released on $5 million bond appeared first on AMBCrypto.

Community reacts to new DoJ crypto enforcement guidelines

The DoJ’s guidance around cryptocurrency enforcement, that cites "crime" and "criminals" 168 times, has been poorly received. The new cryptocurrency enforcement guidelines by the Department of Justice (DoJ) have received a negative response from segments of the crypto community.  Published earlier today by the attorney general for the US William Barr, the DOJ report aims to address the “uniquely dangerous threats to public safety” cryptocurrency poses.

US Department of Justice Releases Cryptocurrency Enforcement Framework

The US Department of Justice (DOJ) has released a cryptocurrency enforcement framework, which offers a comprehensive overview of the emerging threats in the crypto space.

Cryptocurrency Enforcement Framework announced by the US Department of Justice

The US DoJ published its Cryptocurrency Enforcement Framework, explaining its views and actions to tackle criminal activities on the crypto-verse. The post Cryptocurrency Enforcement Framework announced by the US Department of Justice appeared first on CryptoPotato.

US Attorney General Lays Out Plan to Crack Down on Crypto

The Department of Justice today released a report examining the dangers posed by cryptocurrencies and its framework for how to mitigate these "risks."

The DOJ’s ‘Crypto Enforcement Framework’ Argues Against Privacy Tools and for International Regulation

The Justice Department's new crypto enforcement framework lays out its case for prosecuting alleged crimes around the world while taking aim at privacy-enhancing tools.

US Department of Justice publishes ‘Cryptocurrency Enforcement Framework’

US Department of Justice's Attorney General William P.

US attorney general releases guidelines for enforcing crypto laws

Regulation and guidance continue to come in hot from the land of the free. William Barr, the attorney general for the US, published official guidelines for keeping crypto markets accountable.  The lead US attorney's Cyber-Digital Task Force put together the guidelines, officially calling them: Cryptocurrency: An Enforcement Framework, according to an Oct.

DOJ says use of privacy coins is 'indicative of possible criminal conduct'

Privacy coins are getting more attention than ever from the US government. A new report from the US Department of Justice alleges that crypto traders dealing with coins like Monero, Dash, and Zcash are inherently engaging in “high-risk activities.” According to the "Report of the Attorney General's Cyber Digital Task Force" released by the DOJ on Oct.

DOJ states it has jurisdiction over foreign crypto companies that touch US servers

The US government says they have broad extraterritorial jurisdiction over crypto-related businesses. The Cryptocurrency Enforcement Framework issued by the US Department of Justice stipulates a number of cases where it will exert its authority over foreign actors: “where virtual asset transactions touch financial, data storage, or other computer systems within the United States”, if they use cryptocurrency to import illegal products into the US and if they “provide illicit services to defraud or steal from US residents”.

US Attorney General Releases Cryptocurrency Enforcement Framework

The Department of Justice has released a ‘first of its kind’ framework for policing the cryptocurrency space.

John McAfee Arrested, Indicted for $23 Million Illegal Crypto Pumping and Tax Evasion in US

John McAfee has been arrested and indicted for tax evasion, the US Department of Justice announced.

Law Decoded: The year of the Crypto Futures Trading Commission, Sept. 25–Oct. 2

The end of the US federal government's fiscal year brought a cascade of major announcements from agencies.

Exec who bamboozled clients with crypto jargon pleads guilty to $3.25M fraud

A crypto escrow executive has pled guilty to defrauding his client out of $3.25 million. The US Department of Justice (DoJ) announced that the principal of crypto asset escrow company Volantis Market Making has pled guilty to commodities fraud worth more than $3.25 million on October 1. Volantis executive, 49-year-old Jon Barry Thompson, made false representations to a company from which he solicited $3.25 million to make purportedly “no risk” Bitcoin (BTC) purchases through a third firm during June and July of 2018.

BitMex denies CFTC and DoJ allegations, says trading will continue

Despite criminal charges from the DOJ and at least one arrest of its leadership, Bitmex promises to continue operating as usual. In a blog post published Thursday afternoon, Bitmex lashed out at charges that the Commodity Futures Trading Commission and Department of Justice filed against the exchange and its management earlier today. Bitmex's statement claimed that "From our early days as a start-up, we have always sought to comply with applicable US laws, as those laws were understood at the time and based on available guidance." What exactly "applicable US laws" are will likely be central to the case.

JPMorgan Admits Fraud, Agrees to Billion Dollar Settlement for Illegal Trading

JPMorgan Chase has admitted to fraud charges and agreed to settle with the US Department of Justice, the Commodity Futures Trading Commission, and the Securities and Exchange Commission.

Bitcoin Exchange Was a Front for Romanian Mob, Feds Say

The US Department of Justice has convicted a Bulgarian national for laundering nearly $5 million in Bitcoin from a cyber crime syndicate.

US authorities seize $1.6 million in crypto from darknet criminals

The US Department of Justice announced seizure of over $1.6 million in cryptocurrencies from hundreds of darknet drug traffickers under an investigation called ‘Operation DisrupTor.’ The operatio The post US authorities seize $1.6 million in crypto from darknet criminals appeared first on AMBCrypto.

US ramps up enforcement actions against global crypto scams

The US Justice Department has announced sanctions against two Russians, and the arrest of two Malaysians, over separate seven-figure crypto scams. The United States has taken actions against international hackers responsible for the theft of millions of dollars in cryptocurrency. On September 16, the US Department of Justice, US Department of Homeland Security, and the US The Department of the Treasury’s Office of Foreign Assets Control announced it has imposed sanctions on two Russian nationals who used a sophistication phishing campaign to steal at least $16.8 million from the customers of three virtual currency exchanges in 2017 and 2018 — including two based in the United States. The pair, Danil Potekhin and Dmitrii Karasavidi, created multiple websites impersonating legitimate crypto exchanges to steal the login information for unsuspecting victims, before using accounts verified with stolen identities to move the crypto assets through various intermediaries and execute pump and dump schemes targeting altcoins with low market capitalization.

US prosecutors charge Chinese hackers for launching a crypto-jacking fraud scheme 

US Department of Justice charged five Chinese citizens for launching malware that led to the crypto-jacking of computers to mine cryptocurrency.

US Charges 3 With Vast ‘Crypto Jacking,’ Computer Fraud Scheme

The officers of Chinese "white hat" firm Chengdu 404 allegedly hit computer networks around the world.

Crypto Token Backed by $25M Diamond Ponzi Scam Flagged by DoJ

The US Department of Justice charged a Florida native with wire fraud, for soliciting investors in a diamond-backed cryptocurrency Ponzi and investment scam.

US Antitrust Chief Says Protecting Blockchain From Competitive Abuses Is Top Priority

Assistant Attorney General Makan Delrahim said the antitrust division needs to understand how blockchain could improve market competition.

United States DoJ Files to Freeze Assets of OneCoin Money Launderer and Recoup $400 Million

The United States Department of Justice has filed to freeze the assets of OneCoin Money Launderer Mark Scott, and Recoup $400 Million.

US Moves to Seize $400M From Convicted OneCoin Money Launderer

The US Department of Justice wants an attorney to handover the massive sum he helped launder for the OneCoin scheme.

Suspected North Korean Hackers Move Bitcoin Worth $140K From Forfeited Account

Suspected North Korean hackers on Monday moved 12 bitcoin, worth about $140,000, from one of 280 accounts the US Department of Justice (DoJ) has targeted for seizure.

US DOJ Goes After 280 Cryptocurrency Accounts Linked to North Korean Hackers

The US Department of Justice filed a civil forfeiture complaint yesterday, to seize 280 cryptocurrency accounts used by North Korean hackers to steal millions worth of cryptocurrency funds.

US Files Lawsuit to Recover Cryptocurrency Accounts Linked to North Korean Hacking Operation

The US Department of Justice has filed a suit against North Korean state-sponsored cyber hackers for allegedly perpetrating two major cryptocurrency heists.

US authorities go after 280 crypto accounts allegedly tied to North Korea

Two Chinese crypto exchanges allegedly lost millions of dollars to North Korean hackers. "The Justice Department today filed a civil forfeiture complaint detailing two hacks of virtual currency exchanges by North Korean actors," said an Aug.

A $1 million BTC bribe leads to conspiracy charges for Russian man

The strange case of Egor Kriuchkov — who was he working for? The Department of Justice has charged Russian citizen Egor Igorevich Kriuchkov with conspiracy to damage a protected computer system after he allegedly bribed an employee of a Nevada company with $1 million in Bitcoin to install malware in that company’s computer system. According to documents from the US District Court of Nevada, Kriuchkov wanted to steal data from the company’s network, then threaten to make that data public unless the company paid a ransom.

US Democrats Ask Trump Administration for Details on Terrorist Crypto Seizures

Two US Democrats have asked the White House to provide more information on recent seizures of cryptocurrency from terrorist groups including ISIS.

Uber Exec Denies Bitcoin Hush Money Charges

A spokesman for Joseph Sullivan has denied the charges the Uber exec faces for paying hackers $100K in Bitcoin to cover up a data breach. A spokesperson claims “there is no merit” to allegations against former Uber Chief Security Officer Joseph Sullivan, who is now facing charges of obstruction of justice and misprision of a felony. The Department of Justice (DoJ) alleges Sullivan tried to conceal the theft of private information for roughly 57 million users in a hack of Uber.

AirBit Club Ponzi Operators Charged With Fraud and Money Laundering

Proceeds were spent on luxury cars, jewelry and real estate, rather than cryptocurrency mining and trading, surprise-surprise. The operators of a global cryptocurrency-based Ponzi scheme have been charged with fraud and money laundering following a United States Homeland Security Investigations probe. According to an announcement from the US Department of Justice, four of the five alleged operators of AirBit Club, which allegedly netted tens of millions of dollars from victims, were arrested and due to appear in court on Aug.

US Prosecutors Attempt to Seize Bitcoin Allegedly Tied to Al Qaeda

The US Department of Justice is trying to seize bitcoin from 155 addresses it alleges were used by Al Qaeda to fund terrorism.

Darknet Vendor and Pharmacist Charged With $270 Million Bitcoin Drug Trade

Two Costa Rican residents were charged for selling drugs worth $270 million on the darknet. A federal grand jury in the District of Columbia has charged two Costa Rican residents for illegally selling opioids on the darknet.  Originally from the United States, David Brian Pate is a darknet vendor who along with Costa Rican pharmacist Jose Luis Hou sold drugs worth 23,903 Bitcoin (BTC) — approximately $270 million — to darknet customers. The jury charged Pate and Hou for conspiring to distribute controlled substances, distributing controlled substances, conspiring to import these substances and conspiring to launder money and money instruments.  Selling drugs on SilkRoad and AlphaBay According to the statement published by the Department of Justice, Pate illegally purchased narcotics such as OxyContin and morphine pills from the Costa Rican pharmacist Fung and laundered payments to him. Pate advertised his drugs using numerous online handles, claiming he was selling the “old formula” of the OxyContin that could be crushed and inhaled or injected.

Teenager, 'Polite' Lad, and 'Very Good Person' - Meet Alleged Twitter Hackers

From an accused scammer to a "polite" lad, the alleged involvement of some of the young people accused of the major Twitter hack came as a surprise - but not the others. Three teenagers were accused by the US Department of Justice on Friday in relation to the Twitter hack on July 15, which targeted some 130 accounts, urging followers to send bitcoin (BTC). The

Three People Accused of Executing Massive Twitter Attack, Stealing More Than $100,000 in Bitcoin

The US Department of Justice has charged three people in connection with the largest hack in Twitter’s history.

US Government Files Fresh Charges Against PlexCoin ICO Organizers

Having only settled with the SEC last year, the PlexCoin founders now face a fresh round of charges from the Department of Justice.

Feds shut down illegal $25 million Bitcoin ATM business

The US Department of Justice comes down hard on a man who admitted to illegally exchanging some $15-25 million in cash for crypto.

US Takes Down $25 Million Bitcoin ATM Operation, Seizes 17 Machines

The US government has taken down a $25 million bitcoin ATM operation and seized 17 machines along with some cryptocurrencies.

Tech Like CBDCs Central to Senate Hearing on China-US Competition

Senate looks at tech and innovation, including CBDC development, as critical area within rising tensions with China. On July 22, the Senate Banking Committee’s Subcommittee on Economic Policy held a hearing on the role of innovation in the rising com Today’s hearing comes on the heels of a Department of Justice indictment yesterday against several hackers accused of working for the Chinese government to steal trade secrets from US companies as well as to rumble dissidents in places like Hong Kong.  CBDC as a zone of competition J.

DOJ Extradites Bitcoin Thief From Cyprus Along With Hezbollah Terrorist

The US Department of Justice has extradited two criminals from Cyprus—one with known connections to terrorism and the other on suspicion of stealing thousands in Bitcoin.

Criminal Extradited from Cyprus for Allegedly Stealing Bitcoin

DOJ extradites two criminals, one for stealing Bitcoin, from Cyprus. Two alleged criminals, one suspected of stealing thousands of Bitcoin and the other a money launderer with connections to Hezbollah, were extradited from Cyprus, according to the Department of Justice or DOJ. One of the suspects is wanted in Georgia and Arizona for cyber intrusion and extortion and the other is wanted in Florida for money-laundering in support of Hezbollah.  Joshua Polloso Epifaniou, a Cypriot national, is accused of wire fraud, conspiracy to commit wire fraud, conspiracy to commit computer fraud and identity theft and extortion.

Third Centra Tech Founder Pleads Guilty to ICO Fraud

Centra Tech one of the most storied scams of the the 2017 ICO bubble.

The DOJ Wants to Hire a Crypto Crime Attorney Adviser

The Department of Justice wants to hire an attorney adviser to specialize in cryptocurrency, dark web and hacking criminal cases.

Investor Charged in US After Obtaining Covid-19 Relief Loan to Trade Cryptocurrency

The US has charged an investor after he obtained two loans worth over $1.1 million from the Paycheck Protection Program (PPP) intended for covid-19 relief and used some of the money to invest in cryptocurrency.

Police Thwart Dark Web Criminals Who Planned to Firebomb a Nebraskan Pharmacy

William Burgamy and Hyrum Wilson pleaded guilty to conspiring to firebomb a pharmacy in Nebraska. A dark web drug lord and a Nebraskan pharmacist pled guilty to federal charges on July 13 after both were accused of conspiring to bomb a competing business. According to the indictment by the US Department of Justice, 32-year-old William Burgamy from Maryland was the alleged owner of an illegal pharmaceutical site called NeverPressedRX.

Anonymous Crypto Hacker’s Identity Revealed by US Authorities

The US Department of Justice unveiled the identity of the hacker behind the pseudonym “fxmsp” after charging him with federal crimes. The US Department of Justice, or DoJ, indicted Andrey Turchin, known under the pseudonym "fxmsp," with various federal crimes.

23-Year-Old Who Lied to Bank About Bitcoin Holdings Pleads Guilty to Fraud

Randall Joseph Smail faces up to 30 years in prison for lying to a bank about having $640,000 in bitcoin to get a loan.