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 country located in the Italian Peninsula named San Marino has recently approved the cryptocurrency and blockchain regulations which will be governing the innovations and operations related to this technology. Apart from that, a new committee to make the country the globe-top hub for innovative technologies was also formed.
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.
LoudMiner, uses virtualization software VirtualBox on Windows and QEMU on Mac OS to mine crypto on a Tiny Core Linux virtual machine, thus having the potential to infect computers across multiple operating systems.It targets applications whose purposes are related to audio production, which usually run on computers with robust processing power and where high CPU consumption in this case caused by stealth crypto mining might not strike suspicion.
A debate had been held in gathering the Financial Committee of the German Federal Parliament (Bundestag) prompted lawmakers, regulators, and industry experts to discuss regarding the regulation for blockchain technology in the country. The debate proposal was initially submitted by Germany’s Free Democratic Party (FDP) due to the lack of regulation for the emerging technology.
The Department of Federal Revenue of Brazil (RFB) has released new rules requiring that cryptocurrency exchanges inform the regulator about users’ transactions in order to identify tax fraud. The guidelines gives clear road to cryptocurrency trading platforms in Brazil & they should adopt new rules to report about the movements of users’ crypto funds to the agency.
The United States Commodity Futures Trading Commission (CFTC) launched action against a reportedly fraudulent $147 million bitcoin (BTC) scheme of Control-Finance Ltd (headquartered in Britain) which has cheated over 1000 people. Claiming that the firm would reimburse customers by late October or November 2017, the allegedly fraudulent entity reportedly diverted laundered bitcoin using crypto wallet service CoinPayments.
The conjoint effort has been between Malta Financial Services Authority (MFSA) and the Financial Intelligence Analysis Unit (FIAU), has culminated successfully published blockchain-related guidance for institutions. The aim of the publishment is to encourage innovations such as cryptocurrency and blockchain in the fintech sector as well in protecting the integrity of the financial market.