Illicit crypto volume could have reached $51b in 2024: report

2025-1-16 18:29

Cryptocurrency illicit activity is diversifying, with illicit crypto volumes for 2024 expected to surpass $51 billion, according to a new report. While the total volume identified so far is $40.9 billion, historical trends suggest that figure will grow as more… origin »

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illicit crypto 2024 report billion volume far

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Источник: btcmanager.com

illicit crypto → Результатов: 126

Ransomware and theft drive over $2 billion in illicit crypto activity in 2024 – Chainalysis

Stolen funds and ransomware amounted to over $2 billion in illicit crypto transactions in 2024, according to Chainalysis. Despite an overall 20% decline in illicit on-chain activity year-to-date, these two categories have seen significant growth.

2024-8-16 23:00	#scams
illicit crypto activity 2024 ransomware chainalysis billion

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Crypto-Friendly Bank Ordered by Fed to Limit Risks From Digital Asset Clients

Customers Bank, which has done business with several of the most prominent crypto firms, has been called out by the U.S. Federal Reserve for inadequately policing illicit activity, particularly with digital asset clients.

2024-8-13 20:03	Money Laundering
asset clients digital bank out federal called

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Bill targeting illicit use of crypto passes US House: Law Decoded

Legislation focuses on preventing illicit cryptocurrency activities while safeguarding consumer choice.

2024-7-30 22:05
illicit focuses legislation preventing cryptocurrency consumer choice

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Harris Calls Bitcoin ‘Money for Criminals,’ Trump Embraces Crypto – Buy Now Before the Presidential Election

Kamala Harris has labeled Bitcoin as a tool for illicit activities, while Donald Trump has shown strong support for cryptocurrencies. In the lead-up to the presidential election, the contrasting views of these political figures have sparked heated debates.

2024-7-29 11:18	News
presidential election trump harris bitcoin cryptocurrencies support

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US House passes act to add crypto industry to team combatting terrorism financing

The United States House of Representatives has unanimously passed the Financial Technology Protection Act, which aims to curb the use of digital for illicit activities and terrorism financing. Representative Zach Nunn introduced the bill on April 27, 2023, and it was approved on July 22, 2024.

2024-7-23 17:00	УС
terrorism financing house act bill nunn introduced

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U.S. House Passes Crypto Illicit Finance Bill That's Likely to be Rebuffed in Senate

The U.S. House of Representatives has approved another piece of cryptocurrency legislation with a routine voice vote, though the bill to set up a government working group to assess how to keep bad actors from using digital assets isn't likely to become a law as-is.

2024-7-23 00:52
bill likely house keep set group working

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Co-founder of Bitzlato avoids extra jail time in $700m money laundering case

The Russian founder of Bitzlato was sentenced to time served for facilitating over $700 million in illegal crypto transactions. Anatoly Legkodymov, a Russian co-founder of Hong Kong-based crypto exchange Bitzlato that processed over $700 million worth of illicit crypto on…

2024-7-19 10:25	Russia
crypto bitzlato co-founder russian million time 700

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Australia’s AUSTRAC warns of crypto’s growing role in illicit activities

Australia’s financial watchdog has expressed concerns over the surge in digital currency usage in facilitating illicit transactions. Per the 2024 Money Laundering National Risk Assessment from the Australian Transaction Reports and Analysis Centre (AUSTRAC), a financial intelligence agency, the nation…

2024-7-15 13:20	DeFi
financial austrac australia illicit assessment risk money

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Former IRS crime chief says cash beats crypto in illicit transactions

"Cash remains the primary tool for illicit transactions, with blockchain technology aiding law enforcement in tracing crypto crimes," says Jim Lee.

2024-7-13 10:06	World
illicit transactions cash crypto says law aiding

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Chainalysis: Nearly $100b of ‘dirty crypto’ sent to exchanges since 2019

Nearly 30% of all crypto traced from illicit addresses since 2019 ended up at sanctioned services like Russia’s crypto exchange Garantex, according to Chainalysis. Cryptocurrency exchanges have received nearly $100 billion worth of crypto from well-known illicit addresses since 2019,…

2024-7-12 17:12	Tether
crypto 2019 nearly chainalysis illicit exchanges addresses

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FinCEN says illicit use of crypto by criminals creates new ‘opportunities’ for detection

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has issued a stark warning to US financial firms, warning them about the increasing use of crypto by Mexican drug cartels to purchase chemicals used to manufacture fentanyl.

2024-6-24 02:46	featured
fincen financial warning crypto use firms increasing

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From Bank Vaults To Wallets: Here’s How Two Bankers Used Crypto To Launder Millions

A local Chinese bank, the Bank of Huludao, has recently discovered an “intricate embezzlement” and money laundering scheme via crypto orchestrated by two of its top former executives. The scandal, which has sent ripples through the financial community, involved the illicit transfer of a staggering 1.

2024-6-19 04:00	crypto market
bank crypto two executives scandal scheme former

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EU report claims Bitcoin Lightning Network and other layer 2 solutions are open to criminal abuse

An EU report raises concerns about Bitcoin's Lightning Network and privacy coins complicating law enforcement efforts in tracing illicit crypto transactions. The post EU report claims Bitcoin Lightning Network and other layer 2 solutions are open to criminal abuse appeared first on Crypto Briefing.

2024-6-11 15:08	Regulation
network lightning report bitcoin abuse criminal crypto

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US DOJ Seizes $100M In Crypto From Major Dark Web Drug Trafficking Operation

In a recent crackdown on illicit transactions involving crypto assets, the US Department of Justice (DOJ) arrested Rui-Siang Lin, a 23-year-old individual from Taiwan. Lin, who also goes by the names Pharoah and Faro, is accused of owning and operating a dark web drug marketplace known as the “Incognito Market.

2024-5-22 03:00	Digital Currency
drug web lin dark doj crypto pharoah

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FBI traces crypto transfers to dismantle $100m dark web marketplace

The Federal Bureau of Investigation (FBI) has arrested a dark web narcotics marketplace owner after tracking illicit crypto transfers. Rui-Siang Lin, a 23-year-old Taiwan resident, was found guilty of operating a $100 million dark web narcotics marketplace. Known online as…

2024-5-22 12:20
marketplace dark web fbi narcotics transfers crypto

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DOJ charges two Chinese nationals in $73m crypto scam

The United States Justice Department has arrested two Chinese nationals behind a $73 million money laundering scheme. According to a May 17 announcement, the accused funneled illicit funds via multiple U.

2024-5-20 12:48
nationals chinese two may scheme laundering announcement

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US authorities bust $73M crypto scam, make two arrests

The scammers convinced victims to transfer millions of dollars into U.S. bank accounts, which were then used to launder the illicit funds.

2024-5-18 12:52
bank accounts dollars illicit funds launder used

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US Treasury to increase focus on combatting illicit financial activity via crypto, emerging tech

The US Treasury Department intends to place a significant emphasis on addressing the risks posed by cryptocurrencies and other emerging technologies in the coming months via comprehensive regulation.

2024-5-17 21:43	Technology
via emerging treasury cryptocurrencies risks posed technologies

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U.S. Treasury Says It Wants to Better Money Laundering Regulations Around Crypto, Other Illicit Finance

The U.S. Treasury Department wants to continue beefing up anti-money laundering and counter-terrorist financing efforts around digital assets, as part of its broader strategy to tamp down on illicit financing.

2024-5-19 19:00
illicit treasury financing laundering around wants digital

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Chinese authorities arrest six suspects in $300m crypto fraud case

Authorities in China have arrested six individuals suspected of engaging in illicit cryptocurrency transactions amounting to 2.94 billion yuan — worth roughly $300 million. According to a May 10 report by local media outlet Chinanews, the suspects were taken into…

2024-5-14 11:48	Cryptocurrency
suspects six authorities may report according worth

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Sanctioned Russian developer interacts with Garantex, Chainalysis finds

Treasury’s OFAC has sanctioned the Russian developer of LockBit, who transferred crypto to various illicit services, including sanctioned Russian exchange Garantex, Chainalysis says. Dmitry Khoroshev, a Russian developer of the ransomware program called LockBit which has been recently sanctioned by…

2024-5-8 13:44
russian sanctioned developer lockbit chainalysis garantex ransomware

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BTC-e Co-founder Enters Guilty Plea For $9 Billion Money Laundering Conspiracy

Co-founder of crypto exchange BTC-e, Alexander Vinnik, has pleaded guilty to charges of conspiracy to commit money laundering. In a public release by the US Department of Justice (DOJ) on May 3, the Russian national has admitted to his role as one of the operators of BTC-e, facilitating $9 billion worth of illicit transactions between […]

2024-5-6 13:30
btc-e conspiracy money laundering guilty co-founder billion

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Tether and Chainalysis roll out USDT monitoring solution to counter illicit transactions

Tether partners with blockchain analytics firm Chainalysis to monitor USDT transactions and detect illicit crypto transfers that could enable sanctions evasion. The post Tether and Chainalysis roll out USDT monitoring solution to counter illicit transactions appeared first on Crypto Briefing.

2024-5-3 23:55	Regulation
transactions tether usdt illicit chainalysis out crypto

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Tether Enters Transaction Surveillance Partnership with Chainalysis as Regulatory Pressure Mounts

The monitoring system would help Tether identify risky crypto addresses that could be used for bypassing sanctions or illicit activities like terrorist financing, the company said.

2024-5-3 21:51
tether bypassing used could sanctions financing company

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Binance founder CZ says 'no excuse for actions' as he faces 3-year sentence

Binance founder faces a 36-month prison term, spotlighting illicit activities in the crypto space. Legal actions against Binance and earlier FTX raise questions about crypto adoption. AmidstThe post Binance founder CZ says 'no excuse for actions' as he faces 3-year sentence appeared first on AMBCrypto.

2024-4-30 17:00	solana
binance founder actions faces 3-year crypto sentence

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Senator Warren: Crypto Is The “Payment Of Choice” For Child Sexual Abuse, Urges DOJ Action

In a joint effort to combat the illicit trafficking of child sexual abuse material (CSAM), US senators Elizabeth Warren and Bill Cassidy have written a letter to the US Department of Justice (DOJ) and Department of Homeland Security (DHS) expressing concern about the alleged use of crypto to facilitate these activities. Alleged Link Between Crypto […]

2024-4-27 07:00
crypto abuse doj department sexual alleged warren

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UK authorises police to seize illicit crypto without arrests

UK police now have powers to seize, freeze or destroy criminal crypto holdings. It follows new legislation that comes into effect today, April 26, 2024. Reforms to help UK’s national security, said Home Secretary James Cleverly.

2024-4-26 17:15	UK
seize crypto police 2024 reforms april today

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UK police authorized to seize criminal crypto holdings without arrests

From April 26, police can transfer seized illicit crypto to wallets controlled by the authorities, with victims able to reclaim funds from the accounts.

2024-4-27 15:42
crypto police authorities controlled wallets able funds

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Samourai Wallet Founders Arrested and Charged With Money Laundering

Federal prosecutors charges Samurai Wallet founders Keonne Rodriguez and William Lonergan Hill with conspiracy to commit money laundering on Wednesday, as the U.S. government continues its approach to prosecuting crypto mixing tools that may be used by illicit actors and foreign governments to hide fund transfers.

2024-4-25 22:10
laundering money founders wallet tools may mixing

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Illicit crypto volume decreased to $34.8b in 2023, TRM Labs says

The overall proportion of total illicit crypto funds is shrinking by 9% on a year-on-year basis, although bad actors still handled over $34 billion in 2023. The total volume of illicit crypto funds decreased by nearly one-third in 2023, according…

2024-4-12 10:57
2023 illicit crypto total funds volume decreased

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Senator Tim Scott accuses Biden admin of using crypto as ‘scapegoat’ on illicit finance

Senator Tim Scott accused the Biden administration of using crypto as a "scapegoat" to mask failures in halting illicit finance.

2024-4-10 01:42
crypto senator illicit finance using scapegoat tim

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Republican Sen. Tillis Calls for ‘Light’ Crypto Regulatory Framework Ahead of Presidential Election

Lawmakers on both sides of the aisle urged the need for new crypto laws on Tuesday, as Deputy Treasury Secretary Wally Adeyemo asked for “additional tools” to effectively crack down on illicit crypto financing.

2024-4-11 20:07	Regulation
crypto financing secretary wally treasury deputy tuesday

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Tron faces legal troubles. What’s next for the network?

How have recent legal challenges impacted Tron’s trajectory, and what implications does this hold for Tether’s future? According to recent research by TRM Labs, in 2023, Tron (TRX), led by Chinese entrepreneur Justin Sun, saw 45% of all illicit crypto…

2024-4-4 15:55	USDT
tron recent legal led chinese trx entrepreneur

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How one Russian smuggler used crypto to skirt sanctions for tech and arms deals

Andrey Zverev, self-described as a smuggler for illicit Russian activities, has reportedly been leveraging Tether to carry out purchases of high-tech equipment and components for weaponry, thereby sidestepping Western-imposed sanctions.

2024-4-2 13:47	Russia
sanctions russian smuggler purchases out tether carry

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В TRM подтвердили доминирование Tron в криминальной криптоэкономике

В 2023 году на блокчейн Tron пришлось 45% всего объема незаконных транзакций в криптовалютах. По большей части речь идет о стейблкоине USDT от Tether, отметили специалисты TRM Labs. Our Illicit Crypto Economy Report covers eight key trends we're tracking from 2023, including a drop in overall illicit volume year-on-year.

2024-3-31 15:59
illicit tron 2023 trm report covers eight

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Nearly 50% of all illicit volume occured on TRON in 2023, TRM Labs says

Data revealed by analysts at blockchain forensics firm TRM Labs shows that TRON hosted 45% of all illicit volume in 2023. The so-called “dirty crypto” appears to be highly centered on the TRON blockchain network, founded by Chinese entrepreneur Justin…

2024-3-28 14:49	USDC
tron 2023 trm labs blockchain all illicit

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Crypto Users Beware: EU’s New Anti-Money Laundering Legislation Explained

The new regulation prohibits anonymous crypto transactions, aiming to enhance transparency and combat illicit financial activities. The post Crypto Users Beware: EU’s New Anti-Money Laundering Legislation Explained appeared first on BeInCrypto.

2024-3-24 01:30	Crypto News
new crypto legislation explained laundering users anti-money

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Bitcoin Fog founder convicted in $400m crypto laundering case

The founder of crypto mixing service Bitcoin Fog has been found guilty by a federal court of laundering money linked to illicit drug sales on the dark web.

2024-3-14 23:09
crypto bitcoin fog founder laundering linked court

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US Authorities Recovered $1.4 Million in USDT From Crypto Scammers

, US agencies have recovered $1. 4 million in USDT from crypto scammers, demonstrating the effectiveness of blockchain technology in tracing illicit funds and protecting victims. The post US Authorities Recovered $1.

2024-3-11 14:30	Crypto News
recovered crypto scammers authorities usdt million funds

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Binance Slapped with a $10 Billion Fine by Regulatory Authorities

Nigeria fined Binance $10 billion, accusing it of financial harm through illicit activities, amidst global crypto regulation debates. The post Binance Slapped with a $10 Billion Fine by Regulatory Authorities appeared first on BeInCrypto.

2024-3-2 17:30	regulation news
binance billion regulatory authorities fine slapped debates

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Myanmar-based scammers stole $100m worth of crypto since 2022, Chainalysis says

Chainalysis report reveals Myanmar-based romance scammers amassing $100 million in crypto, underscoring the nexus between illicit activities and digital assets. A criminal gang based in Myanmar has netted $100 million worth of crypto from victims over the past two years…

2024-2-27 14:52
crypto chainalysis 100 myanmar-based million scammers worth

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Frankfurt to Host New EU Money Laundering Watchdog Tasked With Monitoring Crypto

The Anti-Money Laundering Authority is part of a broader effort by the European Union to combat illicit fund flows, and is ready to begin work as early as Friday, officials said Thursday.

2024-2-24 22:58	Crypto
laundering flows fund union combat illicit work

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Crypto Action in Senate Remains on Back Burner: Sources

Despite keen interest from U.S. Senate Democrats such as Elizabeth Warren (D-Mass.) to deal with the illicit movement of funds in crypto, there's no immediate action planned in the committee that would need to get it rolling, according to two sources familiar with the plans.

2024-2-22 23:36	Legislation
senate crypto action sources immediate planned funds

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Nigeria reportedly plans to ban Binance, other crypto firms over their ties to forex

The Nigerian government is said to be considering blocking Binance and other crypto firms to prevent forex market manipulation and illicit fund movement. Crypto exchange Binance and other digital asset trading platforms are risking being banned in Nigeria, as the…

2024-2-22 12:47	Regulation
binance crypto forex nigeria firms asset digital

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Criminals favor centralized crypto exchanges for laundering illicit funds

2023 sees a notable decrease in crypto sent to laundering services, with a pivot to YoMix by Lazarus Group.

2024-2-18 00:34	Exchange
laundering crypto sent services pivot yomix group

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Crypto Money Laundering Dropped 30% Last Year, Chainalysis Says

Illicit addresses sent $22.2 billion in cryptocurrency to services in 2023, a decrease from $31.5 billion in 2022, and centralized exchanges remain the primary destination.

2024-2-16 17:00	Money Laundering
billion decrease 2022 2023 services primary destination

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South Korea’s FIU unveils strategy to block illicit crypto platforms

South Korea is set to intensify its scrutiny of virtual asset exchanges with plans to conduct inspections and block platforms that do not meet regulatory standards later this year. The Financial Intelligence Unit (FIU) has outlined a comprehensive “2024 Work…

2024-2-12 13:35	South Korea
block platforms south fiu korea year 160

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Corrupt Chinese officials exploit crypto for illicit cross-border transactions

Chinese media are repeating concerns about the use of cryptocurrencies to facilitate corruption. Local media published a report entitled “Virtual Currency Electronic Gift Cards Open New Channels for Corruption Crimes and Benefit Transfer.

2024-1-2 12:34	Cryptocurrency
media corruption chinese currency electronic virtual report

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Crime Investigators Grapple with Surge in Illicit Crypto Operations

Dive into the world of crypto-related crime investigations with CI. From tracing illicit activities to tackling digital asset tax evasion, CI's financial investigators are at the forefront. The post Crime Investigators Grapple with Surge in Illicit Crypto Operations appeared first on BeInCrypto.

2023-12-5 03:18	Crypto News
illicit crime investigators operations crypto grapple surge

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Bitcoin to remain in consolidation as fiat-to-stablecoin conversions stay muted, analysts warn

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U.S. agency proposes rule requiring refunds after crypto hacks

The Consumer Financial Protection Bureau has proposed a rule that would require U.S. cryptocurrency companies to refund customers who lose funds due to hacks or unauthorized transactions. he proposal aims to extend the consumer protections already in place for traditional…

2025-1-16 18:29

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