Crypto

Authorities shut down largest darknet money laundering service

Published

2 weeks ago

March 16, 2023

ticker NEWS

More than $3 billion had been laundered through the platform since 2017

U.S. and European authorities have managed to shut down crypto platform ChipMixer, and charge its alleged operator of money laundering.

The platform has been accused of laundering more than $3 billion in criminal proceeds, including $700 million stolen by North Korean hackers.

Prosecutors say they also traced $17 million in bitcoin of ransomware proceeds, made between August 2017 and March 2023 to ChipMixer.

The service became popular in the darknet, because it was able to take funds and co-mingle them, so you couldn’t tell who the owner previously was.

ChipMixer had been in existence since 2017.

Crypto

Celebrities busted over illegal crypto scheme

Published

5 days ago

March 24, 2023

ticker NEWS

Agreements have been settled without admitting guilt

Eight celebrities have been busted over allegations they’ve been participating in an illegal crypto scheme.

The stars, including Lindsay Lohan, Logan Paul and Soulja Boy, were all charged following an investigation by the U.S. Securities and Exchange Commission.

Lohan and Paul have reportedly settled the matter without admitting guilt.

But, regardless, it’s just another bad look for the already embattled crypto industry.

Crypto

Crypto fugitive Do Kwon arrested in Montenegro

Published

5 days ago

March 24, 2023

ticker NEWS

He was carrying falsified documents at an airport

One of the world’s most wanted crypto fugitives has been arrested in Montenegro.

It’s a long way from home for South Korean entrepreneur Do Kwon, who’s accused of orchestrating a multi-billion-dollar fraud scheme.

Kwon was connected to the TerraUSD stablecoin, which saw $40 billion erased from its holders.

He was reportedly arrested at an airport after carrying falsified documents.

It follows a red notice being issued by South Korea last September.

Crypto

SEC sues Jake Paul over paid crypto promotions

Published

6 days ago

March 23, 2023

ticker NEWS

The issue is linked to Tron founder Justin Sun

The U.S. Securities and Exchange Commission (SEC) is suing YouTube personality Jake Paul over a promotion of cryptocurrencies linked to Tron founder Justin Sun.

The SEC is accusing Paul of a paid promotion of assets without disclosing those payments to the public.

Other celebrities such as Lindsay Lohan, Ne-Yo and Akon and are also being investigated for their involvement.

Meanwhile, the SEC is going after Sun for potential fraud and market manipulation.