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Founders of Crypto Mixer Tornado Cash Accused of Laundering $1 Billion

24.8.2023
The founders of the cryptocurrency mixing service Tornado Cash were charged Thursday with allegedly helping to launder more than $1 billion in digital currency, including funds taken by North Korean hackers. Department of Justice: ‘You Can’t Hide From Us Behind a Keyboard — Whether You’re a Hacker...

Can KYC and Permissionless Money Co-exist? Not According to This Crypto Influencer

24.8.2023
In light of the recent arrest of the founders of Tornado Cash, a decentralized private payments protocol built on top of the Ethereum network that severs the link between sending and receiving wallets, some are questioning whether Know Your Customer (KYC) laws and permissionless money can co-exist....

Tornado Cash indictment fails to show 'clear violation' of certain laws: Coin Center

24.8.2023
Coin Center research director Peter Van Valkenburgh argued that crypto mixer Tornado Cash is an anonymizing software provider, not a money transmitter

Tornado Cash Developers Charged With Money Laundering and Sanctions Violations That Facilitated Over $1 Billion in Illicit Transactions

23.8.2023
Two more developers who worked on Tornado Cash, an Ethereum network-based privacy protocol designed to obfuscate the link between sending and receiving addresses, are being charged by the US Depart of Justice. Developers Roman Storm and Roman Semenov are both being charged with money laundering...

Tornado Cash co-founders charged with money laundering, sanctions violations

23.8.2023
Roman Semenov was placed on OFAC's sanctioned persons list and Roman Storm was arrested as the United States continued its crackdown on the crypto mixer

Tornado Cash Devs Arrested for Allegedly Helping North Korean Hackers Launder $1B

23.8.2023
Tornado Cash developers Roman Storm and Roman Semenov were arrested and charged with money laundering and sanctions violations tied to their work with the privacy mixer which "facilitated more than $1 billion in money laundering" for North Korea's Lazarus Group

Terra money website frozen to prevent more phishing scams

22.8.2023
The freeze comes shortly after Terra website was compromised over the weekend by hackers who attempted to scam users via phishing attacks

Friend.tech Becomes Massive Ether Money Machine as NBA Players, FaZe Clan Join In

21.8.2023
The application has zoomed to becoming the second-largest revenue maker among crypto protocols in just over two weeks

Banks Allowed to Issue Crypto Mastercard Cards in Uzbekistan

20.8.2023
Authorities in Uzbekistan have authorized two local banks to issue payment cards allowing users to spend their digital coins. The move is part of a pilot project to launch virtual cards linked to cryptocurrency wallets on an exchange that will facilitate instant conversion to fiat money. Uzbekistan...

Cybercriminals Use Crypto Gaming to Steal Millions — Philippines National Police

19.8.2023
The cybercrime fighting unit within the Philippines National Police has asked residents to be wary of rewards promised by play-to-earn (P2E) games because they can be used to steal crypto assets worth millions of dollars. The unit said players can reduce the chances of losing money to scammers...

Kenyan Residents Asked to Participate in a ‘Public Survey on Virtual Assets’

18.8.2023
Kenya residents who wish to shape their country’s policy towards the crypto ecosystem can now do so by participating in a public survey on virtual assets and virtual assets service providers, the Financial Reporting Centre (FRC) has said. The FRC says the public’s feedback “will...

UK ‘Travel Rule’ Won’t Completely Nix Transfers to Noncompliant Places, FCA Says

17.8.2023
Companies such as PayPal are already halting their crypto payments services in the country as a result of tighter regulations

Scam Money Is Laundered via Crypto Exchanges — Australian Regulator

17.8.2023
A significant portion of scam money is getting laundered through cryptocurrency exchanges, the CEO of the Australian Banking Association has alleged. The Australian Financial Crimes Exchange said as much as 47% of all fraud and financial scam proceeds in the country are washed on crypto exchange...

Bankman-Fried Donated $100 Million of FTX Money to Politicians, Prosecutors Claim

16.8.2023
Crypto exchange FTX founder Sam Bankman-Fried (SBF) spent more than $100 million of customer funds on political donations, according to an amended indictment. On Monday, U.S. federal prosecutors also alleged that he used two FTX executives as “straw donors” to evade contribution limits....

Binance Seeks Registration in Taiwan Under Money Laundering Control Act and FSC

13.8.2023
Binance, the global leader in cryptocurrency exchange by trading volume, has submitted an application for registration in Taiwan according to the Money Laundering Control Act and the Financial Supervisory Commission (FSC). During a private meeting on Tuesday, Taiwan's Financial Supervisory...

Nigerian Association of Money Changers Calls for Banning of Binance

12.8.2023
The leader of Nigeria’s Association of currency exchangers has accused the crypto giant Binance of helping to worsen the local currency’s woes and asked authorities to consider banning the platform. The leader suggested that the optimism which ensued after Tinubu’s government floated...

Custodia Bank Goes Live: Bridging Digital Assets With US Dollar Payments

12.8.2023
Custodia Bank, the financial institution that aims to bridge digital assets with the U.S. dollar payment system, is now live. Last month, Custodia started serving external business customers in select U.S. states, offering U.S. dollar deposits and government money market fund services, with bitcoin...