Archive | Crime

 2017 Bad Year for Aussie Crypto Scams as US Launches ‘Cryptosweep’

The Australian Competition and Consumer Commission (ACCC) announced on Monday that consumers lost more than USD 2.1 million to cryptocurrency scams last year, CoinDesk reported. Of this figure, the ACCC reported, consumers lost approximately USD 100,000 per month between January and September of 2017. These losses increased in December to USD 200,000 when Bitcoin price rose to […]

New KYC Regulations in EU Validate Crypto Trading

In an effort to prevent financial transgressions, the European Union now requires cryptocurrency exchanges to apply know-your-customer (KYC) policies, similar to that required by traditional banks in a move beneficial to the legitimacy of cryptocurrency trading. Crypto crime prevention The anonymity surrounding cryptocurrency trading is viewed by many as an enabler of fraudulent activities, money laundering, and terrorist financing. As […]

Centra Tech Founders Indicted by Grand Jury

The Attorney General of the Southern District of New York has announced that the founders of the cryptocurrency-based company Centra Tech Raymond Trapani, Sohrab Sharma, and Robert Farkas, have been indicted by a grand jury. This essentially means that charges against the founders have been formalized and the case will proceed to trial. Centra Tech was […]

$10B Worth of Bitcoin Stored in Underground Bunkers

Argentine entrepreneur Wences Casares, CEO of startup Xapo, has built a network of underground vaults on five continents for the purpose of storing Bitcoin, according to Moneyweb. Xapo’s security method is to bury encrypted computer servers in a mountainside and layer on electronic and physical safeguards. It is said the process to retrieve owners’ Bitcoins […]

Chinese Police Develop Blockchain-Based Evidence Storage

China’s ministry of public security, in charge of all Chinese police forces, has built a blockchain application which stores evidence from police investigations. The technology, which was patented at China’s Intellectual Property Office in November 2017, takes police investigation data that is uploaded to cloud storage and puts it into a blockchain. This solves a […]

Websites Hit by Latest Wave of Cryptojacking

The website ‘Bad Packets Report’ has released a list of some 300 sites that have been compromised by “cryptojacking”, including Chinese hardware maker Lenevo. Coindesk reports that the site’s security adviser, Troy Mursch, wrote last week that the compromised sites had been infected by hackers installing a browser mining software which exploited an outdated version […]