Identifying the Person Behind Bitcoin Fog

The person behind the Bitcoin Fog was identified and arrested. Bitcoin Fog was an anonymization service: for a fee, it mixed a bunch of peoples bitcoins up so that it was hard to figure out where any individual coins came from. It ran for ten years. Identifying the person behind Bitcoin Fog serve...

A Light at the End of Liberty Reserve’s Demise?

In May 2013, the U.S. Justice Department seized Liberty Reserve, alleging the virtual currency service acted as a $6 billion financial hub for the cybercrime world. Prompted by assurances that the government would one day afford Liberty Reserve users a chance to reclaim any funds seized as part o...

Former Microsoft Engineer Gets Prison for Role in Reveton Ransomware

A former Microsoft network engineer who was charged in April this year has now been sentenced to 18 months in prison after pleading guilty to money laundering in connection with the Reveton ransomware. Reveton malware is old ransomware, also known as scareware or police ransomware that instead of...

Former Microsoft Engineer Gets Prison for Role in Reveton Ransomware

A former Microsoft network engineer who was charged in April this year has now been sentenced to 18 months in prison after pleading guilty to money laundering in connection with the Reveton ransomware. Reveton malware is old ransomware, also known as scareware or police ransomware that instead of...

Founder of 'Liberty Reserve' Sentenced to 20 years in Prison

In Brief Arthur Budovsky, co-founder of popular digital currency business 'Liberty Reserve', was sentenced Friday to 20 years in prison for running a money laundering scheme for hackers, identity thieves, child pornographers and drug dealers around the globe. Since its inception, 2005, to the yea...

Criminals rapidly migrating to new digital Currency 'Perfect Money' after Liberty Reserve takedown

There are so many ways to move money anonymously on the Internet and US Justice Department has declared war on currencies widely used by cyber criminals. Just after the Law Enforcement in 17 countries shuts down 'Liberty Reserve', a $6 billion digital money laundering operation, now the criminals...

Liberty Reserve Domains Seized, Money Laundering Charged

Federal law enforcement officials in the United States seized domains belonging to the Costa Rican-based Liberty Reserve, a payment processor, money transfer service, and digital currency exchange reportedly used by criminals as a means for laundering money. Liberty Reserve was also the subject o...

Liberty Reserve founder arrested for money laundering, service closed down

Liberty Reserve, a payment processor similar to Paypal was down on Saturday after the founder of Liberty Reserve, Arthur Budovsky Belanchuk, 39, on Friday was reportedly arrested in Spain by Costa Rican authorities after his they raided suspect´s home and offices in San José and Heredia. Mr...

Liberty Reserve founder arrested for money laundering, service closed down

Liberty Reserve, a payment processor similar to Paypal was down on Saturday after the founder of Liberty Reserve, Arthur Budovsky Belanchuk, 39, on Friday was reportedly arrested in Spain by Costa Rican authorities after his they raided suspect´s home and offices in San José and Heredia. Mr...