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.

117 +

US arrests two Chinese nationals in $73 million crypto scam

US authorities arrested Daren Li and Yicheng Zhang in connection with a $73 million money laundering scheme. The defendants laundered the money via US and international bank accounts. Proceeds of the investment scam were converted to the USDT stablecoin.

17 +

Binance and Taiwan regulators curb $6.2m money laundering ring

Binance has collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office to crack down on a $6.2 million money laundering scheme. According to the official release, the massive operation valued at nearly NT$200 million was…

13 +

DOJ charges former Cred execs over $783M fraud and money laundering scheme

The DOJ has charged three former Cred executives, including its ex-CEO, over an alleged scheme that led to $783 million in customer crypto losses. The post DOJ charges former Cred execs over $783M fraud and money laundering scheme appeared first on Crypto Briefing.

133 +

KuCoin Charged By DOJ As ‘Money Laundering Hub’ In Alleged $9B Scheme

In a significant development, federal prosecutors in the United States have charged cryptocurrency exchange KuCoin and two of its founders with violating anti-money laundering (AML) laws. Founders Face DOJ Charges  The US Department of Justice (DOJ) unsealed an indictment against KuCoin and its founders, Chun Gan (also known as “Michael”) and Ke Tang (also known […]

149 +

British citizen found guilty in $6b Bitcoin fraud scheme 

Wen Jian was found guilty by a London court on one count of Bitcoin money laundering in connection to a $6 billion Chinese investment scam.

97 +

OneCoin Lawyer Mark Scott handed a 10-year sentence

In a significant legal development, Mark Scott, a lawyer implicated in the notorious OneCoin cryptocurrency pyramid scheme, has been sentenced to 10 years in federal prison. This follows his conviction for bank fraud and money laundering related to the OneCoin project, which amassed nearly $4 billion between 2014 and 2016.

259 +

Head of Multibillion-Dollar Crypto Pyramid Scheme Pleads Guilty

In a major development, Irina Dilkinska, former legal head at OneCoin, has pleaded guilty to wire fraud and money laundering, signaling progress in the high-profile OneCoin fraud case. The post Head of Multibillion-Dollar Crypto Pyramid Scheme Pleads Guilty appeared first on BeInCrypto.

152 +

Australian police seize $50m in crypto money laundering scheme

The Australian Federal Police (AFP) has accused Changjiang Currency Exchange of a money laundering scheme. In a press release, the AFP said the operation, codenamed Ironside, resulted from a three-year investigation into the activities of the currency exchange business. Changjiang…

171 +

Thailand delays digital money handout, critics call for probe

Thailand’s government has delayed the launch of a planned digital money program aimed at stimulating its economy, while opposition leaders call for a probe of the scheme.

523 +

FBI Busts Indian Citizen Group For $15 Million Crypto-To-Cash Money Laundering Scheme

In a recent crypto investigation, the US FBI successfully infiltrated a group of Indian citizens suspected of engaging in illicit activities involving the exchange of cryptocurrency for over $15 million in cash.

229 +

FBI charges six individuals in multimillion-dollar Bitcoin money-laundering scheme

The Federal Bureau of Investigation (FBI) has charged six individuals in connection to an unlicensed money-transmitting business involving crypto as a money laundering tool. Court filings dated Oct.

243 +

OneCoin co-founder Greenwood gets 20 years in US jail for fraud, money laundering

Karl Greenwood will also have to pay back the $300 million he made in commissions in the OneCoin pyramid scheme.

622 +

Binance linked to money laundering scheme in Belgian extradition case: Bloomberg

Belgian authorities are seeking the extradition of a London-based fintech professional, Caio Marchesani, on suspicions of using cryptocurrency to launder hundreds of millions of dollars for criminal organizations, including high-ranking bosses.

183 +

CFTC charges Tennessee couple over ‘Blessings of God Thru Crypto’ scheme

Despite having no trading experience, a Tennessee couple convinced 100 people to hand over their money for a uniquely named crypto investment pool.

505 +

Couple behind Bitfinex money laundering scheme reach plea deal with US prosecutors

Ilya Lichtenstein and Heather Morgan are scheduled to appear for an arraignment and hearing on Aug. 3 as part of a plea agreement with U.S. prosecutors.

361 +

From PEPE and BEN To Love Hate Inu: Prepare To Lose More Money To Memecoin Schemers

In the rapidly evolving world of cryptocurrencies, a new token has emerged on the scene: Love Hate Inu (LHINU). While the team behind this meme token promises a unique voting system and rewards for community engagement, there are several red flags that suggest this could potentially be another pump and dump scheme.

262 +

Airbit Club Founders, Lawyer Plead Guilty to $100M Fraud Scheme

The scheme's founders and promoters promised victims their money would be invested in a lucrative mining operation, but instead spent funds on cars, jewelry and luxury homes.

206 +

How Social Media Influencers Fed Bankman-Fried's Cult of Personality

Creators took money that was likely stolen from FTX customers to promote a Ponzi scheme. If they truly care, they should take the money they received from FTX and either return it to the bankruptcy estate or donate it all to charity.

659 +

Binance And Huobi Freeze Funds Linked To $100M Harmony One Hack, 124 BTC Recovered

241 +

$4B OneCoin scam co-founder pleads guilty, faces 60 years jail

The co-founder of the fraudulent scheme is set to be sentenced in April 2023 on charges relating to wire fraud and money laundering.

120 +

OneCoin crisis manager to face the U.S. extradition

According to a newly unsealed indictment. Frank Schneider, a notorious player in the OneCoin Ponzi scheme, will face charges of wire fraud and money laundering upon extradition to the U.S.

157 +

Binance Froze $1.5 Million Ties To Money Laundering Scheme, India Authorities Say

India’s law enforcement agency Directorate of Enforcement (ED) froze over $1,5 million deposited in crypto exchange Binance. The funds were deposited in Bitcoin via a transaction tie to crypto exchange WazirX and the Mobile Gaming App called E-Nuggets.

196 +

Binance CEO And WazirX Founder Embroiled In A War Of Words Over The Ownership Of The Indian Exchange

Binance CEO and WazirX founder traded words over the ownership of the exchange. The row was amplified after Indian regulators fingered WazirX in a money laundering scheme. Binance previously announced the purchase of the Indian exchange in 2019 and clarified details of the acquisition last week.

243 +

Binance CEO Clarifies Involvement In WazirX As India Raids Director

Per a press release from India’s Enforcement Directorate (ED), crypto exchange Binance is allegedly involved in a money laundering scheme created with WazirX. This entity operates as a crypto exchange platform in this country; one of its offices was raided on August 3rd, as a result of an ongoing investigation. Related Reading: Data Shows Bitcoin […]

163 +

Elon Musk, SpaceX and Tesla are facing $258 billion lawsuit for promoting Dogecoin “pyramid scheme”

Elon Musk is facing a colossal lawsuit that alleges that he, as well as his companies, Tesla and SpaceX, were “engaged in a crypto pyramid scheme by way of Dogecoin cryptocurrency. ” The lawsuit seeks a $258 billion settlement over Musk’s alleged involvement in the claimants being “defrauded out of money” by the Dogecoin (DOGE) cryptocurrency.

341 +

‘Dogefather’ Elon Musk Slapped With Mammoth $258 Billion Lawsuit For Allegedly Pumping Dogecoin

The lawsuit, filed in Manhattan on Thursday, claims Elon Musk, electric vehicle manufacturer Tesla, and space exploration startup SpaceX are masterminds of a “Dogecoin Crypto Pyramid Scheme” which resulted in the plaintiff losing money.

285 +

Former OpenSea Executive Indicted In First-Ever Digital Asset Insider Trading Case

The US Department of Justice has filed charges against a former product manager at leading NFT marketplace OpenSea for wire fraud and money laundering in what the DoJ called the “first-ever digital asset insider trading scheme.

220 +

Nate Chastain Indicted for NFT Insider Trading Scheme

Nathaniel Chastain, a former employee of OpenSea was arrested this morning on wire fraud and money laundering charges. The Department of Justice has charged Chastain with insider trading. The First...

202 +

Билл Акман: Terra — криптоверсия финансовой пирамиды

Коллапс Terra похож на крушение финансовой пирамиды, заявил CEO и основатель Pershing Square Capital Management миллиардер Билл Акман. When I read about the ‘algorithm’ of @terra_money it sounds just like a crypto version of a pyramid scheme.

281 +

Билл Акман назвал Terra криптопирамидой

Коллапс Terra похож на крушение финансовой пирамиды, заявил CEO и основатель Pershing Square Capital Management миллиардер Билл Акман. When I read about the ‘algorithm’ of @terra_money it sounds just like a crypto version of a pyramid scheme.

168 +

Opensea plans to take action against fake NFTs

As the popularity of NFTs grows, many people, entities, and organizations see them as a get money quick scheme, and a lot of the time, they take illegal actions to achieve their goals. NFTs created using stolen art A few months ago, the story of NFTs being created using stolen artworks hit our airwaves.

188 +

Nevada Man Pleads Guilty In $722 Million Bogus Crypto Investment

A Nevada man has acknowledged to participating in the money laundering plan for the Bitclub Network, a $722 million fake crypto operation. Gordon Brad Beckstead of Henderson, Nevada, pled guilty Friday in connection with the Bitclub Network scheme, the US Department of Justice reported.

105 +

“PlugWalkJoe” indicted for $784k cryptocurrency theft scheme

Joseph O’Connor indicted on a raft of wire fraud, computer hacking, money laundering and identify theft counts.

155 +

Financial Guru Dave Ramsey Advises Whether One Should Invest in Bitcoin, Other Cryptocurrencies

Financial guru Dave Ramsey has given advice on whether one should invest in cryptocurrencies, like bitcoin. Ramsey sees cryptocurrency as a get-rich-quick scheme, preferring to make his money in a “methodical” and “boring” way.

175 +

Instagram influencer charged over duping followers out of $2.5M BTC

A social media influencer known for “cash giveaways” has failed to show the money in alleged Bitcoin wire fraud scheme.

127 +

Indian Crypto Trader Arrested for Allegedly Using USDT to Launder Money on Behalf of Chinese Online Betting Scammers

An Indian law enforcement agency has arrested Naisar Kothari, a cryptocurrency trader, for his role in a money-laundering scheme linked to online Chinese betting scams. The arrest was made after the country’s Enforcement Directorate (ED) detected large amounts of money “being inexplicably transferred to some cryptocurrency traders.

287 +

US DoJ extradites alleged AirBit Club Ponzi operator from Panama

United States Department of Justice (DoJ) and the Southern District of New York (SDNY) extradited a member of an alleged AirBit Club ponzi scheme for “internationally coordinated fraud and money lauThe post US DoJ extradites alleged AirBit Club Ponzi operator from Panama appeared first on AMBCrypto.

205 +

Ex-Microsoft Engineer Handed A Nine-Year Prison Sentence For A $10 Million Criminal Scheme Involving Bitcoin

A former software engineer at Microsoft has been sentenced to nine years in prison after he devised a complex scheme, involving bitcoin, to steal over $10 million from his former employer. Ukrainian national Volodymyr Kvashu, 26, was charged by a Seattle District court with 18 felonies including identity theft and money laundering. According to a […]

220 +

Mastermind of Alleged Billion Dollar Spanish Pyramid Scheme Arrested, Faces 16 Year Prison Sentence

The CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization and money laundering. Fuentes, who has been in hiding since September, was arrested at one of his properties in the south of Tenerife.

258 +

OKEx Suddenly Suspends Withdrawals Amid Rumors Of CEO Arrest

On July 16, OKEx, one of the largest cryptocurrency exchanges by spot and derivatives trading volume, suspended withdrawals. The Chinese media quickly got flooded with rumors abot OKEx CEO arrest and investigation related to a large-scale money laundering scheme through OKEx accounts.

212 +

NZ Man Charged in Money Laundering Scheme, Crypto & Luxury Cars

A New Zealand man has been charged with money laundering that allegedly involves shady crypto transactions and luxury car purchases. According to reports from the New Zealand Herald, the 40-year-old defendant appeared in court Thursday and faces some 30 criminal charges, including money laundering, that allege he was given thousands of dollars to purchase cryptocurrency.

201 +

OneCoin scheme to get a movie with “Kate Winslet” as its lead

The cryptocurrency industry has been filled with scams in which bad actors attempted to trick people into giving away their money. However, a few scams have been as big or as noteworthy as OneCoin.

209 +

French Police Arrest 29 Individuals Involved In A Bitcoin Scheme Used To Finance Syrian Jihadists

Police in Syria arrested 29 persons on Tuesday for participating in an operation used to finance Jihadists in Syria through cryptocurrencies. This arrest will help the Syrian authorities stem money laundering and the use of digital currencies to fund terrorism.

136 +

Bulgarian exchange owner convicted over auction fraud scheme

The owner of a Bulgarian crypto exchange has been convicted of providing money laundering services to a Eastern European cyber fraud syndicate.

229 +

US Hopes to Confiscate $400M: DoJ Files Forfeiture Judgment Against Onecoin Launderer

Prosecutors from the Southern District of New York (SDNY) court have submitted a “forfeiture money judgment” against the former attorney Mark Scott. The lawyer was charged with helping the Ponzi scheme Onecoin launder funds.

201 +

US Moves to Seize $400M From Convicted OneCoin Money Launderer

The U.S. Department of Justice wants an attorney to hand over the massive sum he helped launder for the OneCoin scheme.

169 +

U.S. Authorities Charge AirBit Club for Running Crypto Investment Scam

U. S. authorities have charged the organizers of the cryptocurrency-based investment scheme AirBit Club with fraud and money laundering. According to an announcement by the U. S. Department of Justice (DOJ), the defendants are being charged for, “their roles in an internationally coordinated fraud and money laundering ring involved in defrauding individuals through investments in AirBit Club.

135 +

2 Persons Charged For Illegal Drug Sale Transacted In Bitcoin

Two Costa Rican citizens have been charged with illegal sale of opioids using Bitcoin in the dark web, court documents revealed. The grand jury in DC indicted David Pate and Jose Hou, a pharmacist, of seven charges, including the distribution of illegal substances as well as laundering money.

216 +