US Sentences Nigerian Darknet Fraud Leader to Five Years in Prison for $6M Scheme

September 21, 2024 Bitcoin.com

US Sentences Nigerian Darknet Fraud Leader to Five Years in Prison for M Scheme

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A Nigerian national has been sentenced to five years in federal prison for his role in a massive darknet fraud scheme that intended to cause over $6 million in losses, according to the U.S. Department of Justice (DOJ). Using various online aliases, Kaura led a global network selling stolen payment card data, using cryptocurrencies like […]

6 things the US needs to stay competitive in crypto, according to execs

Google Faces Lawsuit After $5M in Crypto Stolen via Play Store App

August 18, 2024 Bitcoin.com

Google Faces Lawsuit After M in Crypto Stolen via Play Store App

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A Florida woman, Maria Vaca, has sued Google in a California state court, alleging that a cryptocurrency wallet app she downloaded from the Google Play Store was malicious and resulted in the theft of $5 million in cryptocurrency. Vaca claims the app, Yobit Pro, exploited Google’s marketing that portrayed the Play Store as a secure […]

6 things the US needs to stay competitive in crypto, according to execs

Crypto Money Laundering on Cross-Chain Bridges Surges 138% Year-on-Year in 2023, According to Chainalysis

February 16, 2024 The Daily Hodl

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Cybercriminals are turning to cross-chain bridges to move illicit funds, according to market intelligence platform Chainalysis. Cross-chain bridges enable users to transfer crypto assets from one blockchain to another. In a new report, Chainalysis says the amount of crypto that bridge protocols received from illicit addresses increased from just $312.2 million in 2022 to $743.8 […]

The post Crypto Money Laundering on Cross-Chain Bridges Surges 138% Year-on-Year in 2023, According to Chainalysis appeared first on The Daily Hodl.

6 things the US needs to stay competitive in crypto, according to execs

Report: US Revenue Collector IRS to Send Four Crypto Crime Investigation Agents Abroad

April 24, 2023 Bitcoin.com

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The Internal Revenue Service (IRS) is planning to send investigators to four countries where they are expected to tackle the use of crypto and decentralized finance products in global financial and tax crimes. According to the tax collector’s spokesperson, the IRS will be able to determine the success of the pilot program by rating the […]

6 things the US needs to stay competitive in crypto, according to execs

US Treasury Report Warns of Defi’s Threat to National Security, Authors Conclude Fiat Is Used in Illicit Finance More Than Crypto

April 6, 2023 Bitcoin.com

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The U.S. Treasury has released a 42-page report assessing the risks of decentralized finance (defi). The report states that specific nation-state adversaries, cybercriminals, ransomware attackers, thieves, and scammers are using defi to “transfer and launder their illicit proceeds.” The Treasury’s report warns that defi could threaten national security and calls for policymakers to increase oversight. […]

6 things the US needs to stay competitive in crypto, according to execs

Seoul Sanctions North Korea Over Crypto Theft

February 12, 2023 Bitcoin.com

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South Korea has imposed sanctions on the North in relation to a number of cyberattacks often resulting in the theft of cryptocurrency. The authorities in Seoul say the regime in Pyongyang is using the digital assets to fund its nuclear and missile development projects. South Korea Hits North Korean Hackers With First Cybercrime Sanctions The […]

6 things the US needs to stay competitive in crypto, according to execs

Metamask Wallet Users Warned to Be on the Lookout for Address Poisoning Attacks

January 15, 2023 Bitcoin.com

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To avoid becoming victims of an address poisoning attack, Metamask wallet users should ditch the practice of copying and pasting wallet addresses, the crypto wallet app support team has warned. Metamask users should instead “develop a habit of thoroughly checking every single character of an address” before sending a transaction. Scammers Exploiting Users’ Carelessness Metamask […]

6 things the US needs to stay competitive in crypto, according to execs

Darknet Users Leverage a New Blockchain Analytics Tool That Scans for Ties to Criminal Activity

August 16, 2021 Bitcoin.com

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According to the blockchain intelligence firm Elliptic, cybercriminals are leveraging cryptocurrency analytics to get ahead of law enforcement. Elliptic says a “blockchain analytics tool has been launched on the dark web” and the tool is called “Antinalysis.” Meet the Blockchain Analytics Tool ‘Antinalysis’ Hosted on Tor On August 13, the blockchain surveillance company Elliptic published […]

6 things the US needs to stay competitive in crypto, according to execs

Crypto Cyberthreats Spike This Year With Russia Hit the Hardest, Report Reveals

June 14, 2021 Bitcoin.com

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Cyberthreats related to cryptocurrencies have increased with rising demand for the digital assets, a study has concluded. Russia, Thailand and Peru are the most affected countries by malicious attacks designed to exploit the heightened interest in decentralized money, the authors point out. Booming Crypto Markets Bring Out Cybercriminals Despite the ongoing Covid pandemic still leading […]

6 things the US needs to stay competitive in crypto, according to execs

G7 Leaders Ask Russia to Urgently Identify Those Who Abuse Cryptocurrency in Ransomware Attacks

June 14, 2021 Bitcoin.com

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The G7 leaders have called on Russia to urgently “identify, disrupt, and hold to account” ransomware hackers and those abusing cryptocurrency to launder ransoms. “We reiterate our interest in stable and predictable relations with Russia, and will continue to engage where there are areas of mutual interest,” the G7 leaders said. G7 Nations Ask Russia […]

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