Crimes

Are the BZx Flash Loan Attacks Signaling the End of DeFi?

Earlier this week, the decentralized lending protocol bZx was exploited in back-to-back “flash loan” attacks. While the two exploits were distinct, the end results remained the same. In total, $954,000 was gleaned from the platform. But what exactly happened? Was it an exploit, a simple case of arbitrage or a malicious attack? And where does …

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Dutch Authorities Arrest Two Men for Alleged Crypto Money Laundering

The Dutch Fiscal Intelligence and Investigation Service (FIOD) has arrested two men for allegedly laundering money with cryptocurrencies. According to a statement released by the International Revenue Service on Feb. 18, the two men were arrested on Feb. 17 in connection to two separate criminal investigations into money laundering using cryptocurrencies. Both investigations were led …

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SEC Charges Ohio Man for $33M Crypto Fraud Targeting Physicians

An Ohio man has been charged by the United States Securities and Exchange Commission for allegedly defrauding 150 investors in a cryptocurrency trading scheme. The SEC’s complaint, filed in federal court in New York on Feb. 11, accuses Michael W. Ackerman of raising at least $33 million in violation of anti-fraud provisions for federal securities …

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US Authorities Charge Crypto ‘Trading Club’ Operators With Defrauding 150 Investors

The U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the U.S Attorney for the Southern District of New York have charged Ohio resident Michael Ackerman and two unnamed business partners with defrauding some 150 investors by claiming to offer “extraordinary profits” from a cryptocurrency trading scheme. The SEC alleged in …

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Unknown Number of Major League Baseball Players Lured into Crypto Ponzi Scheme

Two men charged over an alleged crypto trading ponzi scheme lured investors, including professional baseball players, with social media posts boasting about their luxurious lifestyles. On January 30, the Secret Service arrested the Arizona-based founders of Zima Digital Assets, John Michael Caruso, aged 28, and Zachary Salter, aged 27. Caruso commonly refers to himself as …

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US Marshals to Auction $37M in Confiscated Bitcoin in February

The United States Marshals Service (USMS), a federal law enforcement agency within the U.S. Department of Justice, will auction more than 4,000 confiscated Bitcoins (BTC). According to the official USMS website, the authority is planning to sell “approximately” 4,040 Bitcoins (4,040.54069820), requiring a $200,000 deposit in order to take part in the auction. The USMS …

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CFTC Cannot Locate Man Responsible for Over $140 Million Crypto Ponzi

The United States Commodity Futures Trading Commission (CFTC) is having trouble locating Benjamin Reynolds, who is allegedly responsible for a cryptocurrency Ponzi scheme worth over $140 million. Financial news outlet FinanceFeeds reported on Jan. 6 that the CFTC has filed a motion with the New York Southern District Court. More precisely, the regulator filed for …

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US Citizen Indicted for Narcotics Distribution in Exchange for Bitcoin

A United States citizen has been charged with heroin and methamphetamine distribution in exchange for Bitcoin (BTC). According to a Jan. 3 press release published by the U.S. Attorney’s Office for the Eastern District of New York, Joanna De Alba allegedly promoted and sold illegal narcotics on a dark web marketplace dubbed the “Wall Street …

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Privacy Coins in 2019: True Financial Freedom or a Criminal’s Delight?

The right to privacy is a fundamental prerequisite for peace of mind and security. The idea that only criminals have something to hide is strange. Contrarily, privacy is sought by almost everyone. Yet, it still gets stigmatized as suspicious — reserved solely for criminals or deviants.  Similarly sharing this unjust scrutiny are cryptocurrencies, which are …

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Vexed Tech Entrepreneur Turns Bitcoin Hacker, Steals €1M+ from Ex-Colleagues

A French tech entrepreneur has been nabbed for allegedly stealing over 1 million euros in Bitcoin (BTC) from his former colleagues in what is purported to have been an “act of revenge.” On Dec. 22, the unnamed man was indicted by a judge in Paris on charges of theft, money laundering and fraudulently accessing data …

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