QuadrigaX CEO Widow Will Return C$12 Million to Settle Creditor Claims

Jennifer Robertson, widow of defunct Canadian cryptocurrency exchange QuadrigaX CEO Gerald Cotten, is planning to return C$12 million (approximately $9 million in US dollars) worth of assets from his estate to settle investor claims. The exchange owed $195 million to investors, out of which C$190 million (approximately $146 million in US dollars) was in cryptocurrencies.… Read More QuadrigaX CEO Widow Will Return C$12 Million to Settle Creditor Claims

Class Action Lawsuit Filed Against Bitfinex and Tether for Fueling “Largest Bubble in Human History”

Bitfinex and Tether, already embroiled in a case with the New York Attorney General, were hit by a class-action lawsuit this morning. The suit was filed by Roche Freedman LLP, a law firm that successfully won a case against supposed Bitcoin creator Craig Wright recently. Their current lawsuit alleges that Bitfinex and Tether concocted a… Read More Class Action Lawsuit Filed Against Bitfinex and Tether for Fueling “Largest Bubble in Human History”

Early Ethereum Advisor Arrested by Federal Authorities on Extortion Charges

An early advisor to Ethereum, the world’s second-most valuable blockchain, has been arrested by federal authorities on extortion charges. Steven Nerayoff, lawyer and technology entrepreneur, and his accomplice Michael Hlady were arrested Wednesday morning on charges of extortion. They threatened to destroy a Seattle-based mobile startup, which held its ICO in November 2017. According to… Read More Early Ethereum Advisor Arrested by Federal Authorities on Extortion Charges

Former Treasury Official Recommends Government Regulation of Crypto Miners

A former Treasury Department official has recommended government regulation for cryptocurrency miners in the country in a written testimony to the U.S. Senate subcommittee on International Trade and Finance. David Murray, former director at the Office of the Illicit Finance of the Treasury Department and current vice president at Financial Integrity Network, wrote that Congress… Read More Former Treasury Official Recommends Government Regulation of Crypto Miners

How Crypto Helps Make Small – Time Drug Traffickers Become Millionaires

This piece was first published at ICO Ranker. It was edited by Alissa Fleck. By all outward appearances, Aaron Shamo was a typical, if not upstanding, teenager. He earned his Eagle Scout badge by crocheting blankets for a hospital, and never experimented with anything harder than marijuana. By 2016, Shamo, then 26, was bouncing between… Read More How Crypto Helps Make Small – Time Drug Traffickers Become Millionaires

SEC Settles With Founders of Fraudulent Token Sales

The Securities and Exchange Commission (SEC) has settled with the founders of Bitqyck Inc. after it accused them of issuing two fraudulent token sales. According to a release issued by the federal agency, the founders allegedly defrauded over 13,000 investors of $13 million through two tokens, BitqyM and Bitqy. They were also accused of operating… Read More SEC Settles With Founders of Fraudulent Token Sales

France Cracks Down On Cryptojacking Operation That Infected 850,000 Computers Worldwide

The French police have taken down a global malware network that infected over 850,000 systems, mostly based in Latin America. The hackers employed cryptojacking to use remote computers for mining cryptocurrencies. They also stole personal data from Israeli hospitals and conducted ransomware operations. In this case, the cryptocurrency being mined was Monero and the botnet… Read More France Cracks Down On Cryptojacking Operation That Infected 850,000 Computers Worldwide

Self-proclaimed Bitcoin Inventor Craig Wright Ordered to Hand Over Up to $5 Billion of Bitcoin Holdings

Craig Wright, the self-proclaimed and dubious inventor of Bitcoin, has been ordered by a U.S. court to hand over up to $5 billion in Bitcoin holdings to the estate of David Kleiman. Wright claims that he invented Bitcoin along with Kleiman and that they mined several coins together between 2011 and 2013. Ira Kleiman, David’s… Read More Self-proclaimed Bitcoin Inventor Craig Wright Ordered to Hand Over Up to $5 Billion of Bitcoin Holdings

Messaging App Telegram To Release Gram Tokens to its Users On October 31

Messaging app Telegram is planning to launch its Gram tokens on October 31. According to a New York Times report, the app also plans to make digital wallets available for 200 million (out of a total of 300 million) users on its platform. Telegram envisages Gram tokens as a payment mechanism for user transactions on… Read More Messaging App Telegram To Release Gram Tokens to its Users On October 31

Five Drug Dealers Who Used Crypto Sentenced to Prison

U.S. district courts have sentenced five drug dealers, who used cryptocurrencies to evade authorities and conduct illegal transactions, to prison sentences ranging from 5 to 20 years. Four of the criminals were sentenced in Arizona, while a fifth, Wyatt Pasek, based in California was sentenced to 17.5 years for drug-related offenses. A False Sense of… Read More Five Drug Dealers Who Used Crypto Sentenced to Prison

LA Man Pleads Guilty to Running Crypto Money Transmission Service Without License

A Los Angeles – based 25-year-old man, who ran a bitcoin exchange service, has pleaded guilty to owning and running a money transmitting service without license. Federal authorities accused Kunal Kalra of using the crypto exchange service to transact up to $25 million in cryptocurrency and cash for various people, including drug dealers from the… Read More LA Man Pleads Guilty to Running Crypto Money Transmission Service Without License

FTC Settles With Four Promoters Accused of Crypto Fraud

The Federal Trade Commission has settled with four promoters accused of running fraudulent crypto schemes. Three of the four, Eric Pinkston, Thomas Dluca, and Louis Gatto were involved in two schemes called the MY7Network and the Bitcoin Funding Team. The schemes promised to makes participants rich according to the FTC. The agency also accused Scott… Read More FTC Settles With Four Promoters Accused of Crypto Fraud

White House Issues Advisories Regarding Opioid Crisis Drug Purchases Made Using Crypto

The White House issued advisories on illegal drug purchases in the US yesterday, specifically addressing the use of cryptocurrencies to purchase fentanyl, a controlled drug. The two advisories were targeted at online payment platforms as well and financial firms. These advisories stated that cryptocurrencies, especially those that were easy to convert to fiat including Bitcoin… Read More White House Issues Advisories Regarding Opioid Crisis Drug Purchases Made Using Crypto

OFAC Sanctions Chinese Druglords Using Bitcoin For Money Laundering

The Office of Foreign Assets Control (OFAC), acting under the Foreign Narcotics Kingpin Act, has sanctioned three Chinese drug lords and their crypto addresses. It is alleged they broke laws related to drug smuggling and money laundering. Fueling the Opioid Crisis  The US Treasury charged Fujing Zheng, Xiaobing Yan, and Guanghua Zheng as “significant narcotics… Read More OFAC Sanctions Chinese Druglords Using Bitcoin For Money Laundering

SEC Fines Rating Site For ICOs

The SEC has fined the founders of ICOrating.com, a site that rates popular ICOs, for engaging in fraudulent activity. According to the agency, the site published listings that were not impartial and were influenced by ICO issuers even though it claimed otherwise. The impartial listings violated anti-touting provisions for offerings. Paid Advertisements and Anti-Fraud Laws… Read More SEC Fines Rating Site For ICOs

SEC Moves To Freezes Funds From Veritaseum’s 2017 ICO

The SEC has made an emergency filing to prevent the promoters of an ICO from spending the money they collected during the offering. The federal agency announced yesterday that it had obtained a court order that freezes the assets of Veritaseum, which conducted an ICO in 2017 for its VERI tokens, and Reggie Middleton, acting… Read More SEC Moves To Freezes Funds From Veritaseum’s 2017 ICO

New Jersey Issues Stop Orders Against ICOs In the State

The New Jersey Bureau of Securities has issued issued stop orders against two ICOs based in the state. American and Canadian regulators, operating under the North American Securities Administration Association, issued the order which was executed by officials in New Jersey. The stop orders targeted the Unocall and Zoptax ICOs. The orders were issued as… Read More New Jersey Issues Stop Orders Against ICOs In the State

Study Finds Only Two Percent of Bitcoin Transactions Are Illicit

Since it was introduced to the world ten years ago, Bitcoin has garnered a reputation for being an attractive medium for criminals, leading even legendary investor Warren Buffett to declare the cryptocurrency as “rat poison squared.” That reputation has not been earned without merit. A 2018 study by researchers at the University of Oxford found… Read More Study Finds Only Two Percent of Bitcoin Transactions Are Illicit

Hackers Use Identity Theft To Steal Cryptocurrencies

The worlds of cryptocurrency, which promises anonymity and privacy, and identity theft through SIM hijacking collided in a curious case of theft recently. The Department of Justice unsealed an indictment against nine individuals last week for stealing cryptocurrencies worth approximately $2.4 million through identity theft. The individuals, who called themselves “The Community”, conducted seven attacks… Read More Hackers Use Identity Theft To Steal Cryptocurrencies

Thefts At Crypto Exchanges Have Tripled In Value; Crypto Money Laundering Also On The Rise

A cryptocurrency custody solution cannot come soon enough for cryptocurrency markets. According to a report from CipherTrace, a startup that develops forensic tools for blockchain, cryptocurrency, and financial services, cryptocurrency exchanges are on track to lose as much as $1.5 billion worth of coins to money laundering and theft this year. For context, that’s three… Read More Thefts At Crypto Exchanges Have Tripled In Value; Crypto Money Laundering Also On The Rise