Crime

News on Crime in Crypto Industry

USA extradites Romanians involved in crypto scheme

USA extradites Romanians involved in crypto scheme

Twelve Romanian nationals have been extradited to the US to face charges on RICO conspiracy, wire fraud conspiracy, money laundering conspiracy, and aggravated identity theft. The investigation involved several US agencies: the Secret Service and IRS, as well as the Romanian Directorate for Investigating Organized Crime and Terrorism. Individuals face up to 20 years in prison, and between $250k-500k in fines.

Indonesian Arrested for Illegal Crypto Mining

Indonesian Arrested for Illegal Crypto Mining

An Indonesian man has been arrested for allegedly using 27 college computers to mine cryptocurrency illegally. The 22-year old man had set-up a crypto-mining program to mine Bitcoin and Monero called ‘HoneyMiner’ using 27 college computers. He was also reported to be using the college’s computer room after being expelled from the college due to his failure to register his semester.

24 Suspects Arrested Allegedly Involved in Crypto Firm Hacking Incident

24 Suspects Arrested Allegedly Involved in Crypto Firm Hacking Incident

The Turkish authorities have recently captured 24 suspects who allegedly involved in a hacking incident worth of $2.47 million faced by a cryptocurrency firm. The Turkish police then explained that the operation to track the suspects and discovered that the suspects have been communicating through a well-known online battle royal game PlayerUnknown’s Battlegrounds (PUBG).

Crypto Miners Allegedly Stealing Electricity Arrested in German

Crypto Miners Allegedly Stealing Electricity Arrested in German

The Germany authorities have successfully arrested a group of cryptocurrency miners that allegedly mining cryptocurrencies by stealing electricity. There are six suspects in total have been detained during the operation and reported were stealing electricity worth more than $3 million and managed to earn $14.5 million from the illegal mining activity.

Crypto Mining Firm Faces Charges In Israel

Crypto Mining Firm Faces Charges In Israel

Oded Rozenberg along with his Tel Aviv-listed solar energy company Apollo Power is facing charges filed by the Israel Securities Authority (ISA) for misleading crypto investors. The company falsely propagated news that it had filed for a patent in the US for a modular solar system containing a built-in crypto mining component; After which its stocks shoot up.

New york Crypto Thief Accused in Court

New york Crypto Thief Accused in Court

Dawson Bakies (20) a solo crypto thief has been accused for stealing identities and funds, including crypto, via a process known as SIM swapping by the Manhattan’s District Attorney.  This case represents the first prosecution for SIM swapping in New York. He redirects the traffic to his multiple iPhones, then changes Google & Crypto-exchange accounts password then demands payment in Bitcoin.

IBM Watson & LTO Network to Speed up Petty Criminal Cases

IBM Watson & LTO Network to Speed up Petty Criminal Cases

IBM Watson and LTO Network alliance will start with a technological redesign of criminal justice cases for the Dutch District Attorney’s office. Live Contracts are designed for multi-stakeholder collaboration provide a dynamic method for defining logic on the blockchain. Its purpose is to  determine the process state and actively instruct humans and computers about steps in a workflow.

$193 Million Seized in China in Crypto Scam Bust

$193  Million Seized in China in Crypto Scam Bust

The Chinese authorities have busted a gang of cryptocurrency scammers in the Jian’an District of Xuchang City which have confiscated up to $193 million. They said that, “The main suspects are hiding outside the country, remotely manipulating the network platform, using high returns as a bait, and developing a large number of off-line personnel to engage in pyramid schemes.”

Suspects on $8 Million Crypto Scam in Taiwan Arrested

Suspects on $8 Million Crypto Scam in Taiwan Arrested

The Taiwan authorities have successfully captured fifteen suspects for allegedly involved in cryptocurrency scam worth of $8 million. According to authorities, the suspects have promoted IBCoin which the usages have been banned in Taiwan. Li Chi-Hsun, the Criminal Investigation Bureau (CIB) confirmed, “there are currently no known companies that trade or deal in IBCoins.”

$10M worth of Monero Demand by Kidnappers as Ransom

$10M worth of Monero Demand by Kidnappers as Ransom

A billionaire’s wife based in Norway has been kidnapped, and have demanded to receive $10 million worth of Monero as ransom. The wife of one of the richest men in Norway, Anne-Elisabeth have reportedly has been missing since October 2018. The incident has raised the concerns among government official regarding the use of cryptocurrency for illicit activities.