Cryptocurrency Money Laundering
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Binance Fined $4.4 Million in Canada for Violating Anti-Money Laundering Laws
Canada is the latest country that has taken action against crypto exchange Binance. The reason cited for the $ 4 million fine is Binance’s violation of Canada’s anti-money laundering rules while conducting its operations in 2023.
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Cross-Chain Bridges, DEXs Have Been Used to Launder $4 Billion Stolen Crypto: Elliptic
Criminals have laundered at least $4 billion (roughly Rs. 32,558 crore) worth of illegal crypto proceeds using decentralised exchanges, bridges that allow asset transfers across different blockchains, and coin swap services, a new study shows.
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2 Indian Brothers, Friend Charged In Crypto Insider Trading Scheme In US
Two Indian brothers and their Indian-American friend have been charged in the US in the first ever cryptocurrency insider trading scheme in which they made illicit profits totalling over a million dollars.
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US DOJ Seizes $500,000 From North Korean Hackers Who Targeted US Medical Providers
The US Justice Department has seized about $500,000 (roughly Rs. 4 crore) in ransom payments and cryptocurrencies from North Korean government-backed hackers. US officials believe the hackers either extorted the money from US-based healthcare organisations or used the money to launder ransom payments.
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Fiat Beats Crypto as Preferred Choice for Financial Crimes in US Treasury Report
Despite widespread fears that cryptocurrencies could be used for criminal purposes, a report published by the US Treasury indicates that the bulk of financial crimes is still using fiat money.
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Indian-American Among 2 Charged In US For Crypto Laundering
Two persons, including an Indian-American, have been indicted by a US court for their roles in a cryptocurrency money laundering scheme, the Department of Justice said.
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Cybercriminals Laundered $8.6 Billion Worth of Crypto in 2021, 30 Percent More Than 2020: Report
Blockchain analysis company Chainalysis publishes a yearly report focusing on money laundering and illicit transactions going through the cryptocurrency ecosystem. This year's report finds that while the total amount of laundered money increased by 30 percent, only a fraction of all transactions came from illicit activities.
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WazirX Served Show Cause Notice By Enforcement Directorate for Cryptocurrency Transactions Worth Rs. 2,790 Crore
According to a note by the Enforcement Directorate, WazirX was being used by foreigners to launder gambling proceeds. The ED says that Chinese nationals used the crypto exchange to launder Rs. 57 crore, and noted that users can transfer money without proper documentation.
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Binance Fined $4.4 Million in Canada for Violating Anti-Money Laundering Laws
Canada is the latest country that has taken action against crypto exchange Binance. The reason cited for the $ 4 million fine is Binance’s violation of Canada’s anti-money laundering rules while conducting its operations in 2023.
-
Cross-Chain Bridges, DEXs Have Been Used to Launder $4 Billion Stolen Crypto: Elliptic
Criminals have laundered at least $4 billion (roughly Rs. 32,558 crore) worth of illegal crypto proceeds using decentralised exchanges, bridges that allow asset transfers across different blockchains, and coin swap services, a new study shows.
-
2 Indian Brothers, Friend Charged In Crypto Insider Trading Scheme In US
Two Indian brothers and their Indian-American friend have been charged in the US in the first ever cryptocurrency insider trading scheme in which they made illicit profits totalling over a million dollars.
-
US DOJ Seizes $500,000 From North Korean Hackers Who Targeted US Medical Providers
The US Justice Department has seized about $500,000 (roughly Rs. 4 crore) in ransom payments and cryptocurrencies from North Korean government-backed hackers. US officials believe the hackers either extorted the money from US-based healthcare organisations or used the money to launder ransom payments.
-
Fiat Beats Crypto as Preferred Choice for Financial Crimes in US Treasury Report
Despite widespread fears that cryptocurrencies could be used for criminal purposes, a report published by the US Treasury indicates that the bulk of financial crimes is still using fiat money.
-
Indian-American Among 2 Charged In US For Crypto Laundering
Two persons, including an Indian-American, have been indicted by a US court for their roles in a cryptocurrency money laundering scheme, the Department of Justice said.
-
Cybercriminals Laundered $8.6 Billion Worth of Crypto in 2021, 30 Percent More Than 2020: Report
Blockchain analysis company Chainalysis publishes a yearly report focusing on money laundering and illicit transactions going through the cryptocurrency ecosystem. This year's report finds that while the total amount of laundered money increased by 30 percent, only a fraction of all transactions came from illicit activities.
-
WazirX Served Show Cause Notice By Enforcement Directorate for Cryptocurrency Transactions Worth Rs. 2,790 Crore
According to a note by the Enforcement Directorate, WazirX was being used by foreigners to launder gambling proceeds. The ED says that Chinese nationals used the crypto exchange to launder Rs. 57 crore, and noted that users can transfer money without proper documentation.
