This week, Gala Games and Pump.fun were hacked; alleged pig-butchering scammers, Incognito admin and illicit banking racketeers were arrested; Pink Drainer was shut down; the U.S. House approved a crypto bill; a man pleaded guilty to wire fraud; and tech companies formed a scam-fighting coalition.
This week, $25M in ethereum was stolen, Sonne Finance was hacked, a thief returned stolen crypto, Canada indicted its crypto king, the U.S. blocked a purchase by a Chinese crypto mining firm, Canada took regulatory action against Binance, and two senators were concerned about cryptomixer policy.
A Dutch court Tuesday handed Tornado Cash developer Alexey Pertsev a sentence of five years and four months for money laundering. The 31-year-old Russian national developed and maintained cryptocurrency anonymization software used to launder digital cash worth more than $2 billion.
This week, BTC-e head pleaded guilty; arrests were made in Ponzi scheme, ZKasino case; charges filed in Cred scam; individual and Pike Finance were hacked; Hundred Finance's hacker moved stolen funds; the EU took down an exit scam; the feds probed Block' and crypto scammers were arrested.
The digital payment landscape is undergoing transformative growth, with cybersecurity at its core. Dharshan Shanthamurthy, CEO at SISA, discussed the urgency of addressing cybersecurity in an industry that is not only lucrative for businesses but also for motivated criminal gangs.
This week, SEC filed suit against Geosyn, prosecutors fought dismissed Tornado Cash charges, analyst tracked North Korean crypto laundering, European Parliament OK'd anti-money laundering law, FBI warned of unregistered crypto entities and South Korea may make crypto investigative unit permanent.
A federal judge sentenced former Binance CEO Changpeng Zhao to four months in prison for money laundering violations, a crime the judge said he is unlikely to repeat. The sentencing came more than five months after the former crypto trading heavyweight pleaded guilty.
This week, Samourai Wallet co-founder was arrested, a $45M hack hit Hedgey Finance, El Salvador wallet data leaked, another was charged in the OneCoin case, the SEC wants to fine Terraform Labs, prosecutors want a three-year prison term for CZ, and Thailand cracked down on unauthorized operators.
A New York federal jury has found a hacker guilty of charges that he masterminded and carried out a scheme to fraudulently obtain $110 million in cryptocurrency from crypto currency exchange Mango Markets and investors.
Every week, ISMG rounds up cybersecurity incidents in digital assets. This week, sentencing in the first-ever conviction for hacking a smart contract, indictment in a million-dollar illicit mining, FTX executive's sentencing, Railgun's money-laundering defense and Uniswap's Wells Notice.
Hackers who appear to be Chinese are exploiting vulnerabilities in the OpenMetadata platform running as workloads on Kubernetes clusters to download cryptomining software, warned Microsoft. "I want to buy a car," the hackers tell victims in a note and solicit monero donations.
As the Sam Bankman-Fried courtroom saga continues, crypto policy expert Ari Redbord discusses the sentencing's impact of the FTX founder on the ecosystem and regulations, what lies ahead for the industry and approaches to curbing illicit finance threats in the space.
This week, Google sued alleged crypto fraudsters, Mango Markets exploiter's trial began, Do Kwon and Terraform Labs are liable for civil fraud, Taiwanese prosecutors indicted ACE Exchange's co-founder, Wormhole nearly gave $40,000 to hackers and a Binance executive pleaded not guilty in Nigeria.
As Web 3.0 gains momentum, it poses major risks - economic uncertainties, cyberthreats and communication challenges, said RAID Square CEO Sébastien Martin. "There is a lot of regulation, and if you're not respecting the regulation, there is a lot of risk in terms of reputation," he said.
This week, hackers stole from Prisma Finance and demanded praise, a OneCoin head was sentenced to prison, a Tornado Cash co-founder asked for dismissal of charges, FTX said it will repay customers, Singapore has new digital payment token rules, and the BoE and FCA launched Digital Security Sandbox.
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