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White House Advisory Reports Trading of Illicit Substances Through Cryptocurrencies
22.8.2019
The White House released two advisories on drug purchases in the U.S. Wednesday, via the communications that marked particular implications to the trading with cryptocurrencies in buying drugs. It was executed with other government agencies as a part of a broader cooperative effort “to end...
Cryptocurrencies Used to Buy Illicit Drugs, Says White House
22.8.2019
The White House says that cryptocurrencies are used to buy illicit drugs
Dark Web Drug Dealer to Forfeit Millions of Dollars in Illicit Crypto Earnings
20.8.2019
A man has been sentenced in San Diego, California, for conspiring to sell opioids and other drugs over dark web markets for cryptocurrencies.
Malaysian Electric Utility Raids 33 Illicit Bitcoin Mining Facilities
7.8.2019
Major Malaysian electric utility Tenaga Nasional Bhd has fallen victim to an illegal cryptocurrency mining operation, which resulted in a $760,736 loss
Thailand Government Plans to Amend AML Laws to Prevent Illicit Activities using Cryptocurrencies
6.8.2019
Regulator of Thailand declared that the controller would make changes in the regulation to avoid crypto use for unlawful operations, a local news outlet said. Besides, he declared that AMLO would concentrate on revising existing anti-money evasion regulations to counteract the utilization...
MIT’s AI Lab Scrutinizes 200,000 Bitcoin Transaction, only 2% Found To Be Illicit
4.8.2019
There has been a lot of talk around the misuse of Bitcoins, especially after US President Donald Trump’s tweet on the apex cryptocurrency, stating that it is a used for illegal activities like drug trafficking and money laundering. However, recent research by Massachusetts Institute of Technology...
Money Laundering Fines Worth Billions Help Bankers Avoid Prosecution and Unpleasant Labels
18.7.2019
The recent seizure of a cargo ship owned by JP Morgan, a vessel loaded with 20 tons of cocaine according to latest accounts, highlighted the risks of banks’ involvement in illicit activities, inadvertent or otherwise. And although U.S. authorities released the MSC Gayane after the owner,...
Money Laundering Scandals Bring Court Charges and Record Job Cuts to Euro Banks
9.7.2019
The international financial establishment is known to express concern about the risks of money laundering when the crypto space is mentioned. A string of scandals indicates, however, that traditional banks are not only susceptible to the phenomenon but sometimes complicit, whether knowingly...
$515 Million in Bitcoin Spent on Illicit Activity This Year Representing 1% of Total BTC Activity
3.7.2019
Half a billion dollars in BTC spent on illegal transactions so far this year, research says; however, 99% of BTC transactions in 2019 have been legitimate
Drug Abuse and Cryptocurrencies – The Dark Side
26.6.2019
As the world observes the International Day Against Drug Abuse and Illicit Trafficking, we hereby attempt to analyze the correlation between the crypto space and illicit drugs and how it has been affecting people around the globe. In its 10 years of existence, Bitcoin has found thousands of...
Iranian Energy Grid Blames 7% Consumption Increase on Bitcoin Miners
25.6.2019
Mostafa Rajabi Mashhad, the spokesperson for Tavanir, an Iranian state-operated grid entity, has explained that electrical consumption has spiked by 7% in comparison to the previous year. Rajabi blames illegal cryptocurrency mining operations for the country’s increased electrical consumption...