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How will DOJ’s new crypto enforcement team change the game for industry players, good and bad?
15.10.2021
In a bid to catch up with cybercriminals, the Justice Department is pooling all crypto expertise in one place
Crypto Firm Owners Plead Guilty to Tax Evasion, Face up to 5 Years in Prison
14.10.2021
The owners of a cryptocurrency firm that raised approximately $24 million from more than 13,000 investors have pleaded guilty to tax evasion. “These crypto-savvy defendants exploited an emerging technology, lying to their investors, pocketing the proceeds, and concealing the income from...
FBI Arrests Federal Employee Selling Restricted Data on Nuclear Submarines for Cryptocurrency
11.10.2021
A U.S. government employee has been arrested on espionage-related charges after he attempted to sell restricted data on the design of nuclear-powered warships to a foreign government. The federal employee asked to be paid in monero cryptocurrency. “I am very aware of the risks of blockchain...
US Launches National Cryptocurrency Enforcement Team to Prosecute ‘Criminal Misuses of Cryptocurrency’
7.10.2021
The U.S. has launched the National Cryptocurrency Enforcement Team, an initiative of the Department of Justice (DOJ), to tackle and prosecute “criminal misuses of cryptocurrency, particularly crimes committed by virtual currency exchanges, mixing and tumbling services, and money...
US Court Sentences Cryptocurrency Hedge Fund Founder to 7.5 Years in Prison
19.9.2021
The founder of two cryptocurrency hedge funds in New York, Stefan Qin, has been sentenced to 7.5 years in prison and three years of supervised release. He is also ordered to forfeit about $55 million. The Department of Justice (DOJ) said that he “engaged in a scheme to steal assets”...
US Authorities Investigate Binance for Insider Trading and Market Manipulation: Report
19.9.2021
Binance’s troubles with regulators grow as U.S. authorities are now reportedly investigating the exchange for possible insider trading and market manipulation. The investigation involves the Commodity Futures Trading Commission (CFTC). The Justice Department (DOJ) and the Internal Revenue...
US Senator Requests Government Agencies Step Up Efforts to Prosecute Criminal Use of Cryptocurrencies
17.9.2021
U.S. Senator Margaret Hassan has requested that government agencies take “additional targeted steps to prevent and prosecute the use of cryptocurrency for criminal purposes.” She expressed her concern over “the rise in the use of cryptocurrency for criminal purposes.”...
$30 Million Crypto Scheme’s Leader Pleads Guilty, Facing up to 20 Years in Prison
11.9.2021
The leader of a cryptocurrency scheme that swindled over $30 million from investors has pleaded guilty to fraud, the U.S. Department of Justice (DOJ) said. He now faces a maximum sentence of 20 years in prison. Leader of $30M Crypto Scheme Pleads Guilty to Fraud The U.S. Department of Justice (DOJ)...
$2 Billion Crypto Fraud Bitconnect and Founder Charged — Director Pleads Guilty to Criminal Charges
3.9.2021
The $2 billion crypto fraud scheme Bitconnect and its founder have been charged in the U.S. In a parallel enforcement action, a Bitconnect director and top promoter has pleaded guilty to criminal charges in the U.S. “The Bitconnect scheme is believed to be the largest cryptocurrency fraud...
US Government Has Seized Cryptocurrencies Worth $1.2 Billion So Far This Year
5.8.2021
The U.S. government has seized cryptocurrencies worth $1.2 billion so far this year, according to an Internal Revenue Service director. This is a significant increase from $137 million in crypto seized the previous year. $1.2 Billion in Cryptocurrencies Seized Jarod Koopman, director of cybercrime...
Promoter of Crypto Scheme Touted by Steven Seagal Pleads Guilty, Faces 5 Years in Prison
2.8.2021
A promoter of the cryptocurrency scheme previously touted by famous martial artist and actor Steven Seagal has pleaded guilty for his participation. The scheme falsely claimed that it “could generate an 8,000% return for investors within one year.” Crypto Scheme Promoter Pleads Guilty...
US Marshals Service Hires Custodian for Seized Cryptocurrencies — Over 185K BTC Confiscated, Sold so Far
29.7.2021
The U.S. Marshals Service, a primary law enforcement agency of the Department of Justice (DOJ), has hired a new custodian for its seized cryptocurrencies. The agency has seized and auctioned off over 185K bitcoins so far. The United States Marshals Service (USMS) has selected Anchorage Digital...
USDT Maintains Dollar Peg as Traders Shrug Off DOJ Tether Probe Report
26.7.2021
Unlike past scares, Monday’s report of a Department of Justice investigation hasn’t shaken traders’ faith in the stablecoin
DOJ Tells FBI and Others: ‘Stop Signing Appreciation Notes for Binance’
17.7.2021
The U.S. Department of Justice (DOJ) has requested federal agencies stop signing appreciation letters for Binance. The exchange used these letters as proof they are actively helping these agencies in criminal probes. However, this behavior seems to have bothered agents of these state organizations...
California Man Arrested for Using Government’s Covid-19 PPP Loan to Buy Cryptocurrency and Tesla
12.7.2021
The U.S. has arrested a man on criminal charges after he allegedly defrauded the government’s Covid-19 loan programs and used the money to buy cryptocurrency and Tesla. Using PPP Loan to Buy Cryptocurrency and Tesla The U.S. Department of Justice (DOJ) announced Friday that Lebnitz Tran...
Creator of Video Downloading Websites Sentenced to Prison in US — Over $1 Million in Cryptocurrency Seized
11.7.2021
The U.S. has sentenced a creator of video streaming and downloading websites to prison for 12 months and one day. The feds also seized $3.9 million from him, including more than $1 million in cryptocurrency. Man Sentenced to Jail for Copyright Infringement and Tax Evasion, His Cryptocurrency Seized...
US Sentences Crypto Fraudster to 15 Years in Prison After Duping Thousands of Investors
9.7.2021
A Swedish man has been sentenced to 15 years in prison in the U.S. for an investment fraud scheme involving cryptocurrency, including bitcoin. He defrauded thousands of victims of more than $16 million. The U.S. Department of Justice (DOJ) announced Thursday that a “cryptocurrency...
DoJ’s crypto czar joins FinCEN in brand-new role: Why it matters
9.7.2021
Michele Korver’s appointment to the U.S. Financial Crimes Enforcement Network promises to reduce illicit financial practices within the crypto space
Financial Watchdog FinCEN Recruits First-Ever Chief Digital Currency Advisor
7.7.2021
Following the Financial Crimes Enforcement Network (FinCEN) explaining the misuse of cryptocurrencies is a national priority last week, the bureau announced on Tuesday it hired its first-ever chief digital currency advisor. FinCEN’s acting director Michael Mosier detailed that Michele Korver...
‘Doctor Bitcoin’ Pleads Guilty to Running Illegal Crypto Exchange in US, Faces 5 Years in Prison
30.6.2021
A Texas man, who calls himself “Doctor Bitcoin,” has pleaded guilty to running an illegal cryptocurrency exchange business, converting cash to bitcoin. He faces five years in federal prison. Crypto Exchange Operator Pleads Guilty The U.S. Department of Justice (DOJ) announced Tuesday...