Bill targeting illicit use of crypto passes US House
The Financial Technology Protection Act passed the House of Representatives by voice vote roughly a year after lawmakers sent it out of committee. Go to Source
Money Laundering
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WazirX hacker funnels $149M of SHIB, MATIC other altcoins into ETH
Blockchain security firms say bad actors typically move altcoins into Ether to prepare for laundering, as the native token has no built-in means to get frozen. Go to Source
Venezuelan Crime Organization Tren De Aragua Gets Sanctioned by OFAC on Crypto Money Laundering Allegations
Tren de Aragua (Aragua’s Train), a criminal gang with Venezuelan origins, has been sanctioned by OFAC as a transnational organization engaging in kidnapping, human trafficking, extortion, and other illegal behavior. The U.S. Department of the Treasury also stated that the organization had used cryptocurrency to launder the proceedings of their activities to some extent. OFAC … Read more
Nigerian prison doctor detained over Binance executive’s health concerns
Gambaryan’s family has expressed concern about his well-being and appealed to the EFCC to release him and pursue its investigation into Binance instead. Go to Source
Rising crypto crimes in Australia prompt call for tougher regulations
AUSTRAC’s latest report highlights a rise in criminal use of cryptocurrencies, urging stricter regulations and international cooperation to combat money laundering. Go to Source
Chainalysis: $100 Billion in Illicit Crypto Funds Traced Since 2019
Crypto analytics firm Chainalysis has previewed an in-depth report on money laundering within the crypto space, providing insights into tracing illicit funds and advanced identification techniques. The firm discovered that since 2019, nearly $100 billion has been transferred from known illicit wallets to conversion services. The report underscores the need for broad expertise among law … Read more
How law enforcement struggles with sophisticated crypto laundering
Advanced crypto laundering techniques continue to challenge law enforcement and crypto-related services as highlighted in a new Chainalysis money laundering report. Go to Source
BitMEX expects ‘no further fines’ for ‘old’ AML violation in US
BitMEX addresses the DOJ’s BSA charge as a past issue, highlighting their compliance improvements and founders’ prior penalties. Go to Source
Elliptic exposes $11B scam network via Huione Guarantee
Elliptic’s report reveals how the Huione Guarantee marketplace facilitated massive money laundering and cyber scams using Tether (USDT) transactions. Go to Source
Binance vs. Nigeria: A timeline of events
As the trial of Binance executive Tigran Gambaryan restarts in Nigeria, Cointelegraph recaps the story so far. Go to Source
