News with the tag "money laundering"

A bipartisan piece of legislation aimed at combating illegal blockchain activities has been reintroduced to the U.S. House of Representatives. According to a new press release , Republican Representative Zach Nunn of Iowa and Democrat Representative Jim Himes of Connecticut have together reintroduce...

Key Takeaways: New techniques uncover behavioral signatures in digital money flows, suggesting criminals are rapidly adapting beyond simple transfers. The swift, borderless nature of crypto exposes a widening gap between legacy regulations and modern financial crime. These insights push for a proact...

Although Bybit CEO Ben Zhou says 88% of stolen crypto is still traceable, the recent Bybit hack has been linked to an unprecedented money laundering operation. Is money laundering via crypto on the rise? Let’s break it down. BlackRock’s Larry Fink famously called crypto an “index of money laundering...

What is crypto money laundering? Crypto money laundering involves concealing illegally obtained funds by funneling them through cryptocurrency transactions to obscure their origin. Criminals may operate offchain but move funds onchain to facilitate laundering. Traditionally, illicit money was moved ...

The hacker behind the $1.39 billion Bybit exploit is said to have successfully laundered all the 499,000 ETH in just ten days. Despite blockchain analytics firms, law enforcement agencies, and crypto exchanges closely monitoring the movement of the stolen funds, the attacker effectively leveraged de...

Bybit’s CEO says more than $200 million of the $1.46 billion stolen from the exchange has become untraceable due to mixing services. Bybit ‘s CEO Ben Zhou says nearly 20% of the funds are now untraceable, just less than two weeks after the exchange lost over $1.4 billion in a highly sophisticated at...

Crypto investigators have flagged suspicious transactions linked to wallets associated with MELANIA and LIBRA memecoins. Blockchain data shows that these wallets moved large sums of money, raising concerns about potential money laundering. Around 19,846 SOL, worth about $2.76 million, was used to pu...

The European Union has targeted Russia’s largest sanctioned crypto exchange, though analysts note it has operated successfully under sanctions for years. On Monday, Feb. 24, the European Council introduced the 16th sanctions package, adding Russian cryptocurrency exchange Garantex to the list as it’...

“OKX was used to facilitate over five billion dollars’ worth of suspicious transactions and criminal proceeds,” said Acting U.S. Attorney Matthew Podolsky. OKX Settles for $500M Following Guilty Plea in Anti-Money Laundering Case Seychelles-based cryptocurrency exchange OKX pled guilty to one count ...

In the volatile world of cryptocurrency, where fortunes can be made and lost in a blink, a new scandal is brewing. Centralized exchange eXch is under fire, vehemently denying accusations of money laundering tied to the colossal $1.4 billion Bybit hack. This cyber heist, allegedly orchestrated by the...