Xinbi Telegram Market Tied to $8.4B in Crypto Crime, Romance Scams, North Korea Laundering

A Chinese-language, Telegram-based marketplace called Xinbi Guarantee has facilitated no less than $8.4 billion in transactions since 2022, making it the second major black market to be exposed after HuiOne Guarantee. According to a report published by blockchain analytics firm Elliptic, merchant...

An $8.4 Billion Chinese Hub for Crypto Crime Is Incorporated in Colorado

Before a crackdown by Telegram, Xinbi Guarantee grew into one of the internet’s biggest markets for Chinese-speaking crypto scammers and money laundering. And all registered to a US address...

Nigeria Drops Charges Against Tigran Gambaryan, Jailed Binance Exec and Former IRS Agent

After eight months, one of the US’s most prominent crypto-crime investigators may finally be coming home...

Ransomware Extortion Skyrockets in 2023, Reaching $449.1 Million and Counting

Ransomware has emerged as the only cryptocurrency-based crime to grow in 2023, with cybercriminals extorting nearly $175.8 million more than they did a year ago, according to findings from Chainalysis. "Ransomware attackers are on pace for their second-biggest year ever, having extorted at least...

Shutdown of Russia's Hydra Market Disrupts a Crypto-Crime ATM

More than just a market for illegal drugs, the dark-web site allowed criminals to launder or cash out hundreds of millions in stolen cryptocurrencies...

Russia Was Behind DDoS Attacks Against Ukraine, US Officials Say

Plus: A crypto crime crackdown, Roblox ripoffs, and more of the week’s top security news...

Justice Department Appoints First Director of National Cryptocurrency Enforcement Team

The U.S. Department of Justice DoJ earlier this week appointed Eun Young Choi to serve as the first Director of the National Cryptocurrency Enforcement Team NCET it established last year. The NCET was created to tackle the criminal misuse of cryptocurrencies and digital assets," with a focus on...

Russian Hydra DarkNet Market Made Over $1.3 Billion in 2020

Russian-language dark web marketplace Hydra has emerged as a hotspot for illicit activities, pulling in a whopping $1.37 billion worth of cryptocurrencies in 2020, up from $9.4 million in 2016, marking a staggering 624% year-over-year jump over a three-year period from 2018 to 2020. "Further...

US Dept of Justice steps up legal action against crypto crime

By Uzair Amir Just last month, the department revealed it had arrested two Malaysian and sanctioned two Russians over two separate cases of crypto crime. This is a post from HackRead.com Read the original post: US Dept of Justice steps up legal action against crypto crime...