17th August 2021
President Joe Biden has said he’ll take on hackers’ payment method of choice — cryptocurrency — in the fight against ransomware gangs. But any such effort faces a massive challenge: getting the rest of the world on board. Congress and administration officials are increasingly pushing for oversight of cryptocurrency after… Read More
16th August 2021
London’s High Court has ordered Binance, one of the world’s largest cryptocurrency exchanges, to identify hackers and freeze their accounts after one user said it was the victim of a $2.6 million hack. In a judgment made public this week, a High Court judge granted requests by artificial intelligence (AI)… Read More
15th August 2021
Due to their anonymity or pseudonymity, digital assets are perceived as entailing the risks of money laundering and financing terrorism. In October 2018, the Financial Action Task Force (FATF) adopted changes to its recommendations on financial activities involving digital assets, adding the definitions “virtual asset” (VA) and… Read More
13th August 2021
“Follow the money” – for generations it’s been the mantra of investigators looking for criminals. In the cyber-realm, this battle between criminals and the authorities has been raging for years. Despite the anonymous nature of cryptocurrencies, dozens of cyber-criminals have been caught in the last two years thanks to new… Read More
13th August 2021
A Reisterstown man convicted of dealing drugs over the dark web under the moniker “Xanaxman” three years ago continued laundering money from prison, federal prosecutors allege in a new indictment seeking to seize $130 million worth of Bitcoin from him. A federal grand injury indictment against Ryan Farace, 37, and… Read More
11th August 2021
A cryptocurrency platform has lost an estimated $600 million in digital tokens after one of the sector’s biggest ever hacking attacks, according to details of the heist which emerged on Wednesday. Poly Network, a decentralised finance platform (DeFi), announced the hack on Twitter and posted details of… Read More
11th August 2021
BitMEX, one of the world’s largest virtual currency derivatives exchanges, has agreed to pay up to $100 million to settle U.S. charges of unlawfully accepting customer funds to trade cryptocurrencies when it was not registered to do so as well as failure to conduct customer due diligence. The U.S. Commodity… Read More
11th August 2021
Cryptocurrency lobbyists were caught ill-equipped in one of the first legislative battles for their nascent industry, despite a Herculean push that impressed Washington insiders with its intensity. The industry failed to win a change to crypto tax reporting rules in the infrastructure bill on Monday, leaving intact language for broad… Read More
10th August 2021
Japan needs more convincing of the merits for making cryptocurrency investing easier for its population, according to the country’s top regulator. While Financial Services Agency Commissioner Junichi Nakajima said he’s open-minded about the potential benefits that assets like Bitcoin possess as a quick and cheap way to send cash, in… Read More
10th August 2021
Cryptocurrencies like Bitcoin and Monero have been the subject of much debate and consternation in international security and financial crime circles. These digital payment systems enable illicit financing through their uneven regulation, transaction speed and anonymity. To date, the development and implementation of cryptocurrencies has largely been the purview of… Read More