A group of bitcoin miners who stole almost $3 million worth of power to create the advanced money, provoking a neighborhood influence organization to warn agents have been arrested by police in Zhenjiang (eastern China). A police officer commented, “In value, it is the largest case in the amount of electricity stolen that Jiangsu has cracked since the founding of New China, and a rare sight in the whole country,”
The Special Antitrust Unit in Verona, Italy has seized around 93 social pages and 7 websites which the fraudsters have used for their canvas users to their training courses on financial topics which is priced minimum of €100. Meanwhile, Konstantin Ignatov, the CEO of the OneCoin digital currency fraud is going to undergo a court trial while he is still behind bars & Bank of Uganda (BoU) earlier had issued warning on OneCoin as ponzi scheme.
A research by Chain analysis reveals that about $515 million spent on illegal activities was used in transactions on the dark web (part of deep web which is used for nefarious purposes) so far in this year. And also suggests that the amount of bitcoin (BTC) spent on illegal transactions this year could hit a record high of $1 billion, even as the ratio of illegal to legal transactions is shrinking.
United States District Judge Sandra J. Feuerstein has ruled that 44 year old Blake Kantor to the 86-month prison sentence with as forfeiture of $1.5 million stolen proceeds and restitution of victims of his Blue Bit Banc (BBB) scam investment company, in which he used a computer program to fake the price data in order to skew the payout scheme in his company’s favor.
The council in Lake City, a community of about 12,000 people west of Jacksonville has approved and held an emergency meeting Monday night on a bitcoin payment worth about $462,000 by the city’s insurer. For the second week in a row, a small Florida city has agreed to pay cybercriminals hundreds of thousands of dollars after a ransomware attack crippled city systems.
Three residents of The Netherlands and 3 male suspects were taken into custody by British police officials for the theft of roughly 24 million euro worth of Bitcoin via Typosquatting. Typosquatting has become a menace to the bitcoin world, it’s a modus operandi in which criminals register domain names which closely resemble existing platforms and use that domain as a way to phish.
Europol, in conjunction with the U.K. South West Regional Cyber Crime Unit, the Dutch police, Euro just, and the U.K. National Crime Agency (NCA), has coordinated the arrests of six people suspected of stealing over $27 million in cryptocurrency. The website uses the same logo as the genuine crypto trading tools website Cryptohopper to trick users into installing its executable, which downloads and runs mining and clipping trojans designed to steal cryptocurrency.
A dangerous Monero (XMR) mining bug have been installed on the computers owned by the State’s Judicial Administration department of Ukraine, with the sole motto of robbing system means to mine XMR. In early days of 2019, two tarnished hacking groups had been successful in thieving about one billion dollars ($1 B) worth of digital assets from the exchanges.
A 46-year-old New York resident Patrick McDonnell the head of Staten Island-based CabbageTech, which operated the bitcoin trading firm Coin Drop Markets (CDM) admitted he stole funds obtained from his clients instead of investing them in cryptocurrency. McDonnell attracted investors to his firm CabbageTech by claiming on social media and cheated over thousand clients.
The Central Bank of Russia has claimed that criminals in Russia seldom withdraw stolen cash by using digital currency. That additional protective measures had been developed and methods of withdrawing funds are also monitored by the bank. But blockchain intelligence firm Chainalysis claimed that 64% of ransomware attack cash-out strategies involve the laundering of funds.