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Crypto laundering network Huione continues to operate at scale, with its transaction volumes increasing even after FinCEN had designated it a primary money laundering concern. Despite reports of its shutdown and removal of its website and Telegram channels, the Chinese-language…
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As part of a broader global crackdown on crypto-related fraud, Australia’s financial regulator has issued a major penalty over a fraudulent 15 million AUD digital asset scheme. The Australian Securities and Investments Commission (ASIC) has banned a former financial adviser,…
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The Nigerian Securities and Exchange Commission has issued a renewed warning against Crypto Bridge Exchange. The exchange, also known as ST Technologies International Ltd, Smart Treasure, or Super Technology, has reportedly resumed operations across the country despite lacking regulatory approval.…
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Banned by Telegram in May, the Huione and Xinbi Market channels have resurfaced under new names, TRM Labs said in a recent update. Despite Telegram’s May 13 ban on the notorious Huione Guarantee and Xinbi Guarantee crypto marketplaces, both appear…
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MEXC revealed an alarming rise in trading fraud, with a 200% spike globally.
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The U.S. Treasury Department on Thursday sanctioned Funnull Technology Inc., a Philippines-based firm allegedly at the center of a vast cyber fraud network enabling cryptocurrency scams. Funnull is accused of providing technical infrastructure for hundreds of thousands of websites linked…
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Despite a drop in trading volumes, Luxembourg authorities warn that crypto exchanges remain a significant money laundering concern due to their online operations and international reach. Crypto exchanges continue to carry high risks of money laundering, according to Luxembourg’s latest…
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Braden Karony, former CEO of SafeMoon, was found guilty of defrauding investors and using stolen funds to buy luxury homes and vehicles. A New York federal jury has found Braden John Karony, former CEO of SafeMoon, guilty on all counts…
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New revelations suggest that the arrest of Vladimir Smerkis, former Binance Russia chief and co-founder of crypto app Blum, may be linked to his involvement in earlier collapsed crypto ventures that left investors empty-handed. The Zamoskvoretsky District Court ordered Smerkis’s…
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The Zamoskvoretsky Court of Moscow initiated the arrest of a former Binance executive and co-founder of the Blum tap-to-earn app, Vladimir Smerkis, on fraud charges. According to Russian news site TASS, citing law enforcement agencies, the Zamoskvoretsky District Court granted…
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12 more individuals have been charged in a RICO crypto theft case that allegedly netted over $263 million. A four-count superseding indictment unsealed this week in the U.S. District Court have added twelve new defendants to the RICO (Racketeer Influenced…
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Bitcoin
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Coinbase’s recent security breach from a social engineering attack spotlighted a broader issue facing the industry: how to balance cost-effective customer support with the need for strict security in handling sensitive financial data. Here’s how the Coinbase scam unfolded and…
BTC
Bitcoin
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Haowang Guarantee, a massive crypto-powered black market that moved over $27 billion in illicit funds, has been shut down following a Telegram crackdown triggered by new investigative findings. As originally reported by WIRED, Haowang Guarantee, the internet’s largest crypto-fueled black…
USDT
Tether
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Telegram has cracked down on Xinbi Guarantee, a USDT-powered marketplace linked to crypto pig butchering scams and money laundering, after Elliptic had exposed $8.4B in illicit transactions. On May 13, blockchain analytics firm Elliptic, reported that Xinbi Guarantee, a Telegram-based…
USDT
Tether
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The United States Department of the Treasury has imposed sanctions on the Karen National Army, a Burmese militia group, accusing it of orchestrating large-scale crypto scams alongside other offences. The sanctions were announced on May 5 in a press release…
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Lawyers for Celsius founder Alex Mashinsky argue that prosecutors are stripping him of his humanity to support a harsh sentence disconnected from his true actions. Alex Mashinsky‘s legal team has criticized the U.S. government’s request to sentence the former Celsius…
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