Justice Department

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Binance Processed $346 Million for Crypto Exchange Bitzlato, Report Claims

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Cryptocurrency exchange Binance has reportedly processed nearly $346 million in crypto transactions for Bitzlato, the coin trading platform that was shut down in an international law enforcement operation. U.S. authorities say the world’s largest trading platform for digital assets was among Russian-owned Bitzlato’s major counterparties. Blockchain Data Indicates Binance Moved Over 20,000 BTC for Bitzlato … Read more

Bitzlato Exchange Busted as US Deals ‘Blow to Crypto Crime,’ Arrests Owner

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Cryptocurrency exchange Bitzlato, better known to the Russian-speaking segment of the market, has been taken down as part of an “international cryptocurrency enforcement action,” the U.S. Justice Department announced. The Russian owner of the platform has been arrested for his role in the alleged transmission of illicit money. Bitzlato claimed it was hacked. US, France … Read more

Fed’s Outgoing Vice Chair Richard Clarida’s ‘Rebalancing’ Trades Ignite Fed Trading Ethics Scandal

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Members of the U.S. Federal Reserve are getting criticized this week after the central bank published its minutes report from the policy meeting on December 14-15. Following the update, the outgoing vice chair of the Federal Reserve’s trading activities has reignited ethics conversations. Richard Clarida’s Trades Under Scrutiny The U.S. central bank can shake up … Read more

DOJ Selling Cryptocurrency Seized From Bitconnect Worth $56 Million

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The U.S. Department of Justice (DOJ) is selling cryptocurrency worth $56 million that was seized from the “number one promoter” of Bitconnect, the largest crypto fraud scheme ever charged criminally. Investors were fraudulently induced to invest over $2 billion. The Bitconnect promoter faces a maximum penalty of 20 years in prison. US Selling Crypto Worth … Read more

After Fed Members Disclose Million-Dollar Stock Trades Fed’s Powell Initiates Ethics Inquiry

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The Federal Reserve chairman Jerome Powell has directed his staff to start an ethics inquiry into the financial activities of Fed members, as a number of senior central bank officials are being questioned for their investments. Reports indicated last week that the president of the Dallas Federal Reserve branch, Robert Kaplan, benefitted from “multiple million-dollar-plus … Read more

Legalized Theft: Police Seize $87,000 From Former Marine but Don’t Charge Him With a Crime

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A recently published report that went viral across social media details how a former U.S. Marine, Stephen Lara, was pulled over by police and was suspected of being a drug trafficker. Police then searched Lara’s vehicle and subsequently took $87,000 in cash from a bag kept in Lara’s trunk. Lara, who also had a stack … Read more

While Darknet Users Search for New Markets, Global Law Enforcement Reveals Mass Arrests

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During the last month since the fall of Empire Market, darknet market (DNM) patrons have been migrating to alternative markets. Meanwhile, global law enforcement recently arrested 179 individuals tied to DNMs and seized over $6.5 million in cryptocurrency and cash proceeds. It hasn’t been a good month for DNM users after the fall of Empire … Read more

US Takes Down $25 Million Bitcoin ATM Operation, Seizes 17 Machines

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The U.S. government has taken down a $25 million bitcoin ATM operation and seized 17 machines along with some cryptocurrencies. The Department of Justice says the man behind this unlicensed bitcoin ATM operation has agreed to plead guilty and is facing up to 30 years in prison. US Dismantles Bitcoin ATM Operation The U.S. Department … Read more