Crypto Crime News

The third quarter of 2024 has seen a notable decline in the number of reported cryptocurrency hacks, yet the total value of stolen assets has surged.

A 21-year-old man has admitted guilt in a federal court to charges connected to a significant cryptocurrency theft exceeding $37 million, as announced by the U.S. Department of Justice (DOJ).

The U.S. Securities and Exchange Commission (SEC) achieved a legal victory against a company in connection with an initial coin offering (ICO) in 2017.

The cryptocurrency industry faces intensified legal scrutiny, with significant prison sentences handed down to prominent figures.

A 45-year-old man, Olumide Osunkoya, has admitted to unlawfully managing a network of cryptocurrency ATMs, making it the first conviction of its kind in the U.K., as announced by the Financial Conduct Authority (FCA) on Monday.

The Dutch Authority for the Financial Markets (AFM) has warned of the risks of “pump and dump” schemes in the cryptocurrency sector ahead of the introduction of new rules.

A significant crypto incident has led to the loss of over $32 million in tokens after a whale mistakenly executed a malicious transaction, according to blockchain security firm ScamSniffer.

Authorities recently confiscated over $6 million in cryptocurrency linked to scammers based in Southeast Asia who targeted U.S. citizens with fraudulent investment schemes.

Executive Adam Iza connected to the Zort platform, is facing serious allegations of running an extortion operation involving officials from the Los Angeles County Sheriff’s Department (LASD), according to the FBI.

A recent security breach at the crypto liquid restaking platform Bedrock resulted in a loss of around $2 million due to a smart contract vulnerability in its uniBTC vaults.

A U.S. federal judge has ruled that Roman Storm, co-founder of Tornado Cash, will face trial as his motions to dismiss the charges and compel discovery were denied.

Binance co-founder Changpeng Zhao, commonly known as “CZ” in the crypto community, was released from prison on Friday, September 27, after serving a four-month sentence for inadequate anti-money laundering (AML) compliance.

Onyx Protocol recently suffered a significant exploit, resulting in a loss of $3.8 million.

The hacker responsible for stealing $230 million from WazirX in July is close to finishing laundering the funds, with only $6 million left in Ethereum (ETH), according to the Arkham Intelligence chain.

Worldcoin has received negative attention in South Korea amid ongoing data breach concerns affecting several nations.

New York City Mayor Eric Adams has been indicted as a result of a federal corruption investigation, making him the first mayor in the city’s history to be indicted during his tenure.

A new lawsuit alleges that the U.S. Department of Justice must set aside most of a $4.3 billion settlement with Binance for a fund for victims of state-sponsored terrorism.

The U.S. Securities and Exchange Commission (SEC) has filed charges against TrueCoin and TrustToken for engaging in fraudulent and unregistered sales of investment contracts tied to the TrueUSD (TUSD) stablecoin.

Following new regulations on crypto mining in Russia, Dagestan authorities have uncovered numerous illegal mining operations, prompting the regional prime minister to call for increased law enforcement efforts against these illicit activities amid rising electricity consumption.

Binance has revealed its significant role in assisting India’s Enforcement Directorate (ED) to dismantle Fiewin, a fraudulent online gaming platform that allegedly scammed users out of ₹400 crore (around $47.6 million).

Caroline Ellison, former head of Alameda Research, has been sentenced to two years in prison for her involvement in the downfall of FTX, and is also required to forfeit $11 billion.

The Swedish Police Authority and the Financial Intelligence Unit (FIU) have labeled cryptocurrency exchanges as “professional money launderers (PML)” after evaluating services from unlicensed operators.

Caroline Ellison, the ex-CEO of Alameda Research, is scheduled for sentencing in a Manhattan federal court tomorrow.

Two users of the OpenSea platform have initiated a class action lawsuit in a Florida court, claiming the NFT marketplace is involved in the sale of unregistered securities.

The FBI have apprehended two individuals linked to a significant Bitcoin heist, where a single victim reportedly lost around $250 million in digital currency.

A federal judge has ordered a New York man to pay $36 million after he allegedly defrauded cryptocurrency investors by promising unrealistic returns while using their money to finance his luxurious lifestyle.

BingX, a cryptocurrency exchange, has alerted users to a possible security breach involving its hot wallet, leading to the activation of emergency protocols.

In the next five years, government prosecutors and tax agencies are expected to utilize artificial intelligence to analyze blockchain data for crime detection, according to Chainalysis CEO Michael Gronager.

Germany has shut down 47 cryptocurrency exchanges, accusing them of enabling cybercriminals to launder money by ignoring anti-money laundering regulations.

In Komsomolsk-on-Amur, a city in Russia’s Far East, an unnamed individual has been detained on charges of high treason for allegedly sending cryptocurrency to Ukraine’s military.

In a dramatic crypto heist, three hackers executed a scheme that defrauded a single victim of $243 million on August 19, 2024.

In the wake of the $230 million hack at Indian crypto exchange WazirX, the attackers have moved another $12 million worth of Ethereum.

The Block reports that the Banana Gun team is currently investigating reports of a user wallet breach and has temporarily shut down the platform.

The U.S. Securities and Exchange Commission (SEC) has initiated legal action against Rari Capital, a decentralized finance platform, and its founders.

Alex Mashinsky, the former CEO of Celsius serving a 100-year prison sentence, is seeking the testimony of six ex-employees as part of his criminal case.

Since Bitcoin’s inception in 2009, it initially struggled to gain recognition as a groundbreaking technology, often being dismissed as a scam or fraud.

Former Binance CEO Changpen Zhao is nearing the end of his four-month prison sentence, with his release scheduled for September 29, according to the US Federal Bureau of Prisons.

The notorious hacking group known for its crypto thefts has lost access to nearly $5 million in stablecoins, following actions taken by stablecoin issuers to freeze the funds.

Binance has issued a warning about a malware attack targeting its users, which alters cryptocurrency withdrawal addresses.

Prosecutors have introduced new internal documents from Bithumb in their ongoing case against Lee Sang-joon, the exchange’s former CEO.

Sam Bankman-Fried, the former CEO and co-founder of FTX currently serving a prison sentence, has filed an appeal seeking to overturn his fraud conviction, according to court documents submitted on Friday.

Caroline Ellison, former CEO of Alameda Research, is seeking to avoid a prison sentence as her court date approaches.

Indonesian crypto exchange Indodax has experienced a significant security breach, resulting in a loss of about $22 million in various cryptocurrencies.

North Korean hackers could potentially shift their focus to U.S.-based Bitcoin exchange-traded funds (ETFs), according to security experts.

On September 9, Singapore’s Deputy Prime Minister Gan Kim Yong announced that an investigation is underway into seven individuals suspected of illegal trading of Worldcoin accounts and tokens.

TRON, Tether, and TRM Labs have launched the T3 Financial Crime Unit (T3 FCU), a new initiative designed to tackle financial crime in the cryptocurrency sector.

According to the FBI, crypto fraud cases surged by 45% last year, with losses totaling $5.6 billion.

Nick Drakon has stepped down as CEO of Revelo Intel, a crypto research and education platform, after revealing a shocking ordeal.

Bitcoin ATMs are spreading rapidly across the U.S., but their growing prevalence is raising serious concerns about cybersecurity.

McAfee has discovered a new Android malware called SpyAgent that can steal private keys stored in screenshots and photos on smartphones.

Authorities in Anhui Province, China, have recently dismantled a major criminal operation that was using cryptocurrency platforms to launder large sums of money.

Scam Sniffer has reported a recent case where an individual lost $1 million in cryptocurrency by mistakenly copying a fraudulent address from their transaction history.

The U.S. Commodity Futures Trading Commission (CFTC) has managed to recover $18 million in cryptocurrency connected to a fraudulent commodity pool scheme.

The FBI has issued a warning about advanced cyberattacks targeting cryptocurrency and DeFi companies, linked to North Korean hackers.

Penpie, a decentralized finance (DeFi) platform, suffered a major security breach on Wednesday, resulting in the theft of approximately $27 million in cryptocurrency.

The U.S. Securities and Exchange Commission (SEC) has reached a settlement with Galois Capital Management, a cryptocurrency-focused investment advisory firm based in Florida.

The Federal Trade Commission (FTC) has revealed a dramatic increase in scams involving Bitcoin ATMs, with reported cases rising tenfold since 2020.

Cryptocurrency phishing incidents saw a dramatic increase of over 215% in August, largely due to one major attack that resulted in losses of more than $55 million.

Scottish law enforcement has successfully converted 23.5 Bitcoin into cash, following a robbery in March 2020.

A wallet connected to the hacker who stole over $235 million from the Indian crypto exchange WazirX recently moved $6.5 million through the sanctioned crypto mixer Tornado Cash.