Tag Archives: Crime

The U.S. Department of the Treasury has imposed sanctions on Cambodian businessman Ly Yong Phat and his businesses, including his conglomerate L.Y.P. Group and the O-Smach Resort. This move, disclosed on Thursday, stands in response to their roles in human trafficking and forced labour as connected with cryptocurrency fraud. The penalties have been imposed to prevent and curtail human rights abuses and other related offenses. OFAC of the Treasury said that Ly Yong Phat businesses engaged in...

The Federal Bureau of Investigation’s Internet Crime Complaint Center (IC3) released its cryptocurrency fraud report 2023, revealing that Americans lost an astonishing $5.6 billion due to crypto-related scams. This is an increase of 45% compared to the previous year. The report reveals that a tenth of all complaints reported to the FBI involved cryptocurrency-related scams. However, as highlighted above, these complaints contributed to nearly half of the overall losses. This has brought out...

The T3 Financial Crime Unit will work to reduce criminal activity associated with USDT on Tron, collaborating with law enforcement agencies to hold criminals accountable and make victims whole. The largest stablecoin issuer, Tether, Justin Sun-created Tron, and blockchain intelligence platform TRM Labs have collaborated to launch the T3 Financial Crime Unit (T3 FCU). The alliance will allow Tether to identify and report crime-related USDT transactions on the Tron network. The Majority of USDT...

The recent hack of the cryptocurrency exchange WazirX has witnessed a significant development. The hackers have transferred 2,600 ETH, worth approximately $6.5 million, to Tornado Cash, a cryptocurrency mixer that is under U.S. sanctions. This action, identified by the security firm PeckShield, is a common technique used by cybercriminals to obscure the trail of stolen funds and make it more challenging for authorities to trace and recover them. On the 18th of July 2024, WazirX was struck by...

August marked a worrying time for the industry as cybercriminals ransacked hundreds of millions of dollars. With the number of hacks and scams rising tremendously this year, August marked another bad month in terms of the amounts lost to cybercriminals. August witnessed about $313 million scammed from crypto holders and platforms. Blockchain security firm PeckShield shone a light on this, stating, “August 2024 witnessed 10+ hacks in the crypto space, resulting in ~$313.86 million in losses....

Hacker groups are preventing user access to websites belonging to French authorities to show their support for Pavel Durov. Durov was arrested on August 24 by French authorities. Russian hackers are staging Distributed Denial of Service (DDoS) attacks on the French government’s website in response to the August 24 arrest of Telegram CEO Pavel Durov. He was arrested in France for alleged involvement in money laundering, drug trafficking, and more crimes, but no formal charges have been issued...

French President Emmanuel Macron addressed the recent arrest of Telegram CEO Pavel Durov. He stated that it was not politically motivated but part of an ongoing judicial investigation. In a post on X (formerly Twitter) on Monday, Macron reiterated France’s commitment to freedom of expression, innovation, and entrepreneurship. He emphasized that in a state governed by the rule of law, freedoms are upheld within a legal framework. As a result, it protects citizens and respects their...

Arrest of Durov highlights global discussions about tech regulation and free expression. Rumble CEO Chris Pavlovski fled Europe amid fears following Telegram CEO Pavel Durov’s jail in France. Rumble CEO Chris Pavlovski tweeted that he has “departed from Europe” following the arrest of Telegram CEO Pavel Durov in France. Pavlovski’s exit comes as tensions between Rumble and France rise after the latter had threatened the video-sharing network. Rumble CEO Criticizes France’s Actions Pavlovski,...

Cthulhu Stealer attacks Mac devices and steals credentials from a long list of crypto wallets. Malware aimed at draining funds from crypto wallets installed on Macs is rising. A new malware called Cthulhu Stealer targets devices with MacOS to steal crypto wallet information, marking yet another malware affecting users of Mac devices. Cado Security identified the new malware and published a report detailing how it grabs wallet data. This has come to light days after reports of another...

Thailand’s authorities recently raided an illegal Bitcoin mine following several weeks of power outages in a local town. The raid took place on Sunday in Ratchaburi. It is a province located west of Bangkok. They took action after numerous reports of electrical disruptions in the area. Reports by AFP reveal that the early morning raid was conducted by the Provincial Electricity Authorities together with the local police. A chief district security officer named Jamnong Chanwong mentioned that...