UK Court Sentences Woman for Laundering $10 Million in Bitcoin
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UK Court Sentences Woman for Laundering $10 Million in Bitcoin

UK court has sentenced a woman to prison for laundering $10 million worth of Bitcoin tied to an alleged $5.6 billion fraud scheme. This conviction underscores the growing challenges and complexities in combating financial crimes involving cryptocurrencies. The Case Details Farah M., the convicted woman, was found guilty of participating in a sophisticated scheme to…

Gala Games Suffers Major Security Breach: 5 Billion GALA Tokens Minted
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Gala Games Suffers Major Security Breach: 5 Billion GALA Tokens Minted

Gala Games, a major player in the Web3 gaming world, fell victim to a massive security breach. It all started with an unidentified attacker managing to mint a jaw-dropping 5 billion GALA tokens out of thin air. Yeah, you read that right – 5 billion. How the Hack Happened The details are still a bit…

Crypto Scam Takedown: Feds Nab Two in $73 Million “Pig Butchering” Scheme
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Crypto Scam Takedown: Feds Nab Two in $73 Million “Pig Butchering” Scheme

Millions Laundered Through Shell Companies in Elaborate Investment Fraud Cybercrime authorities have struck a blow against a major cryptocurrency scam, arresting two foreign nationals suspected of laundering at least $73 million through a scheme known as “pig butchering.” Pig butchering scams involve fraudsters building trust with victims over time, often through social media or dating…

Samourai Wallet Founders Charged with Money Laundering by US Prosecutors
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Samourai Wallet Founders Charged with Money Laundering by US Prosecutors

Federal prosecutors in the United States have brought charges against Samourai Wallet co-founders Keonne Rodriguez and William Lonergan Hill for conspiracy to commit money laundering. The indictments come following the arrests of Rodriguez in Pennsylvania and Hill in Portugal, with plans for Hill’s extradition to the US. Charges and Arrests The charges stem from allegations…

Former Amazon Employee Shocking Crypto Heist: Three-Year Sentence
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Former Amazon Employee Shocking Crypto Heist: Three-Year Sentence

Shakeeb Ahmed, a former security engineer, has been handed a three-year sentence for his role in the hacking of two decentralized exchanges. This decision comes after Ahmed was found guilty of orchestrating the theft of over $12 million worth of cryptocurrency from these platforms. Ahmed, who previously worked as a security engineer for renowned companies…

US Justice Department Seizes $9 Million in Tether Linked to Romance and Crypto Scams
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US Justice Department Seizes $9 Million in Tether Linked to Romance and Crypto Scams

The US Justice Department has announced the seizure of nearly $9 million worth of Tether, a popular cryptocurrency. The seized funds have been linked to cryptocurrency addresses associated with an organization accused of exploiting over 70 victims through romance scams and cryptocurrency confidence scams, commonly referred to as “pig butchering The world of cryptocurrency has…

US Department of Justice Leads to Massive USDT Freeze
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US Department of Justice Leads to Massive USDT Freeze

Tether and OKX have joined forces with the United States Department of Justice (DOJ) to execute the largest-ever freeze of USDT tokens in history. The collaborative effort has successfully frozen 225 million USDT tokens associated with an international human trafficking syndicate operating in Southeast Asia. This syndicate is allegedly responsible for orchestrating a widespread “pig…

FTX’s Bankruptcy Woes Escalate as Bybit Faces $953 Million Lawsuit
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FTX’s Bankruptcy Woes Escalate as Bybit Faces $953 Million Lawsuit

Bybit Accused of Pressuring FTX Employees in $953 Million Cash and Digital Asset Withdrawal FTX’s bankruptcy advisers have filed a lawsuit against crypto exchange Bybit and two of its affiliates. The legal action seeks to recover approximately $953 million in cash and digital assets that were allegedly withdrawn from FTX just before it filed for…

Bitfinex Crypto Exchange, Fell Victim To A Phishing Attack
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Bitfinex Crypto Exchange, Fell Victim To A Phishing Attack

Bitfinex crypto exchange, recently fell victim to a phishing attack that targeted its customer support staff. The attackers successfully accessed some data within the customer support systems, raising concerns about the security of user information In a recent statement, Bitfinex assured its users that despite the phishing incident, no core systems were breached, and more…

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MEME Coin Factory Led to $400K Worth of Rug Pull

@DeDotFiSecurity Has reported a wallet has been discovered that profited over 200 $WETH, equivalent to approximately $400,000, through a series of rug pulls in the cryptocurrency market. The scammers behind this operation operated a MEME coin factory, generating a total of 31 tokens. They strategically added liquidity to these tokens, only to drain all the…

Senior Security Engineer Arrested for $9 Million Cryptocurrency Theft in Decentralized Exchange Attack
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Senior Security Engineer Arrested for $9 Million Cryptocurrency Theft in Decentralized Exchange Attack

Authorities in the United States have made a significant breakthrough by announcing the first criminal case involving an attack on a smart contract operated by a decentralized exchange. Shakeeb Ahmed, a 34-year-old senior security engineer from New York, has been charged with wire fraud and money laundering, potentially facing up to 20 years in prison….

Poly Network Faces Potential Compromise of Private Keys and Multi-Signature Service Attack
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Poly Network Faces Potential Compromise of Private Keys and Multi-Signature Service Attack

Beoin alert reported, the decentralized finance (DeFi) platform Poly Network has encountered a serious security breach. It appears that the platform’s private keys or multi-signature service have potentially been compromised. This breach has allowed a hacker to exploit forged proofs and carry out unauthorized withdrawal operations on the platform’s cross-chain bridge contracts across multiple chains….

Court Slams $54M Penalty on Former NYSE Broker in Crypto Fraud
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Court Slams $54M Penalty on Former NYSE Broker in Crypto Fraud

Michael Ackerman, a former broker at the New York Stock Exchange (NYSE), has been slapped with a staggering $54 million in damages by an NY court. The punishment is a result of his deceptive involvement in a cryptocurrency trading plot that has now come to light. A Staggering Blow to Cryptocurrency Scammers Undoubtedly, this court ruling has sent shockwaves…

CFTC Charge Man For Engaging In A Cryptocurrency Ponzi scheme over $21 Million
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CFTC Charge Man For Engaging In A Cryptocurrency Ponzi scheme over $21 Million

The Commodity Futures Trading Commission (CFTC) has taken legal action against William Koo Ichioka, filing a complaint in the U.S. District Court for the Northern District of California. The complaint charges Ichioka with soliciting funds exceeding tens of millions of dollars from over 100 individuals and entities under the pretense of trading digital asset commodities….

Do Kwon, Terraform co-founder sentenced to four months in prison
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Do Kwon, Terraform co-founder sentenced to four months in prison

Do Kwon, was apprehended with the fraudulent passport in his possession. Despite his claim of being unaware of its illegitimacy, the court found him guilty and handed down a four-month prison term. This recent development adds to the list of legal troubles Kwon is currently facing. Notably, Kwon has also been accused of knowingly making…