Crime

News on Crime in Crypto Industry

Building Home in Sea Puts Thai Bitcoin Trader’s Life At Risk

Building Home in Sea Puts Thai Bitcoin Trader’s Life At Risk

Chad Elwartowski, a rich Bitcoin trader has built his platform house off the coast of Phuket. But Authorities suspect he attempting to create an independent state and threaten the sovereignty of Thailand. The Bangkok Post also reports that crypto traders are leading the charge to “establish micronations,” exploiting a loophole in international law, thereby making the local authorities toothless against him.

Fake Celebrity Endorsements on Crypto in Netherlands Increasing

Fake Celebrity Endorsements on Crypto in Netherlands Increasing

The number of fake celebrity endorsement on cryptocurrency in the Netherlands has shown a worryingly increasing number. Numerous scam cryptocurrency website are using celebrities fake quotes as a bait to trap potential investors. Around 1.7M Euros worth of damage have been reported to the Fraud Help Desk since the year 2018 and only five fraudulent websites have been exposed.

South Korea 12 Arrested for Allegedly Involved in Crypto Fraud

South Korea: 12 Arrested for Allegedly Involved in Crypto Fraud

12 people have been arrested for allegedly involved in $1.78 million worth of cryptocurrency fraud. 2 CEOs and ten members have been detained by the South Korean authorities by executing their fraud schemes through a members-only online shopping website and mainly targeted with the people that have minimum knowledge about cryptocurrencies.

Illegal Crypto Miners to Be Jailed in Hong Kong

Illegal Crypto Miners to Be Jailed in Hong Kong

Hong Kong has recently shared its intention in sending illegal cryptocurrency miners to prison as an effort in protecting the public. A list of answers was published to the questions of government of Hong Kong submitted by the Legislation Council in the country referring to the action took by the Secretary for Financial Services and the Treasure on cryptocurrency investment activities in the country.

Crypto Scam Accused Indian Brothers Granted Bail

Crypto Scam Accused Indian Brothers Granted Bail

The Brothers (Vivek and Amit Bhardwaj) who have been charged for running a ponzi scheme on Bitcoin have been granted interim bail by Supreme Court of India. Their lawyer Deepak Prakash clarified “While Amit Bhardwaj has been granted interim bail based on his health ground, the Supreme Court granted bail to his brother, purely based on the merits of the case.”

Canada Court Drug Dealer To Forfeit Bitcoin With $1.9 Mn

Canada Court Drug Dealer To Forfeit Bitcoin With $1.9 Mn

A Court in Toronto, Canada has ordered an online drug dealer to forfeit his Bitcoin worth of $1.9 million stored in his computer. Justice Jane Kelly stated: “It is a reasonable inference to draw that payment for such illegal narcotics sales was made using Bitcoin that was found in the digital wallet on Mr. Phan’s computer”

Crypto Scammer In Australia Use FB To Lure Victim

Crypto Scammer In Australia Use FB To Lure Victim

Crypto scammers use the fabricated images and videos of Aussie celebrities in Facebook by promising amateurs lucrative profit for their investment. Major issue is that Facebook has refused to take any action against them. Few fake ads have been using photos of Waleed Aly and Karl Stefanovic, two of Australia’s best-known TV presenters for their ponzi scheme.

$4.5 Million Worth of Crypto Seizes from 61 Darknet Vendors by FBI

$4.5 Million Worth of Crypto Seizes from 61 Darknet Vendors by FBI

61 people have been arrested which allegedly involved in trading drugs on Dakrent by the Joint Criminal Opioid and Darknet Enforcement (J-CODE). The arrest has also successfully seized approximately $4.5 million worth of cryptocurrencies and have shut down around 50 darknet accounts that are selling illegal items anonymously.

Unlicensed Trading of Security Token Declared as Criminal Offence in Hong Kong

Unlicensed Trading of Security Token Declared as Criminal Offence in Hong Kong

A declaration has been made in a statement by the Hong Kong’s Securities and Futures Commission (SFC) that the unlicensed trading of security token is a criminal offence. The Hong Kong SFC then have made it clear that any person which is intended to distributes or operating Security Tokens related business in the country need to have their license or registered.

Man Faces Six Years in Prison for Cryptojacking

Man Faces Six Years in Prison for Cryptojacking

The Ukrainian authorities have recently arrested a 32-year old man who allegedly installed cryptocurrency mining script in the HTML code of a number of websites. The man faces six years of jail time for crypto jacking using the website. This indicates that the authorities of Ukraine are treating cryptocurrency and cybercrime seriously as an effort in protecting the public.