28 cryptocurrency firms in India register with national anti-money laundering agency India’s Financial Intelligence Unit has officially registered 28 Virtual Digital Assets and crypto service providers. The news comes as confirmed by Pankaj Chaudhary, the Minister of State for Finance, in a parliamentary discourse. This move also follows the Indian Finance Ministry’s March mandate, requiring crypto businesses to align with the Financial Intelligence Unit, an entity […]
Germany’s Bitcoin Group tackles money laundering attempts Germany’s Bitcoin Group is implementing improvements to its internal control system following BaFin’s directive to its subsidiary futurum bank to address deficiencies in anti-money laundering and counter-terrorist financing measures. Germany’s Bitcoin Group is under scrutiny by the financial regulator BaFin, which has highlighted significant shortcomings in its subsidiary Futurum Bank’s anti-money laundering and counter-terrorist financing […]
Scam crypto malware Inferno Drainer decides ‘to move on’ after stealing $80m Multi-chain crypto scam service Inferno Drainer has halted its service ‘for good and won’t return again.’ A multi-chain cryptocurrency scam service Inferno Drainer is going dark “for good” after stealing $80 million from victims. According to a Telegram post published on Nov. 26, 2023, the team has decided to shut down the service in an […]
European Banking Authority Calls for Enhanced Anti-Money Laundering Rules for Crypto Providers – Regulation Incoming?
4 Common Cybersecurity Risks To Your Crypto Wallet Crypto wallets are vulnerable to hacking. In 2022, cybercriminals stole 3.8 billion worth of crypto. For this year, it’s still not clear how much crypto has been stolen altogether, but it’s estimated that 1.89 billion has been taken from heists alone. What are some of the common cybersecurity threats and vulnerabilities that get your crypto […]
Lido DAO discovered a security vulnerability in Ethereum protocol Lido discovered a security vulnerability in Ethereum protocol, involving Node Operator InfStones. Liquid staking solution Lido has discovered a security vulnerability on its Ethereum protocol in the last 24 hours, specifically involving one of its Node Operators, InfStones. This issue, initially discovered a few months ago, was formally reported to InfStones in July 2023. InfStones […]
Over $86M drained after HTX Global’s HECO Bridge security breach Over $186 Million drained in a HECO Bridge-related hack. The HECO Bridge is a crucial link for transferring funds between Ethereum and the Heco Chain. Projects associated with blockchain entrepreneur Justin Sun are facing ongoing hacking challenges. In a recent development, the HECO chain bridge, built by the HTX Global exchange has fallen victim to […]
Chinese Police Warn of Rise in CBDC-themed Money Laundering Schemes Source: EduardSkorov/Adobe Chinese police say there has been an increase in CBDC-themed money laundering schemes as the digital yuan rollout continues. Per the Dushichen Newspaper Agency (va JSChina), officers in Suining, Sichuan Province, stepped in to thwart a scammer. Detectives explained that a mobile phone store owner surnamed Wang came to the Suning Chengxi Police […]
Binance Must ‘Completely Exit’ From US as It Settles Years-Long Criminal Investigation Binance will exit the U.S. market and pay $4.3 billion—one of the largest corporate penalties in U.S. history—to settle anti-money laundering and sanctions violations, the Department of Justice today said. The exit and penalty are the result of a years-long criminal investigation into the company and its leadership. CEO Changpeng Zhao has also stepped down […]
Binance sees over $45m in funds withdrawn amidst criminal charges Binance faces significant user fund outflows and a drop in BNB value following the DoJ’s criminal charges and CEO Changpeng Zhao’s potential departure. Binance is seeing significant outflows from its exchange following the earlier news of the U.S. DoJ charging the leading exchange with three major crimes. Nansen, a blockchain analytics firm, reported a noticeable […]
Security Firm dWallet Labs Uncovers Vulnerability with $1 Billion of Crypto At Risk Source: Pixabay Blockchain security firm dWallet Labs recently unveiled a vulnerability that it asserts has the potential to impact approximately $1 billion worth of crypto. The security firm published a Medium blog post on Tuesday saying that it had discovered a potential vulnerability in validators hosted by infrastructure provider InfStones. The post explored attacks on […]
Binance CEO Changpeng Zhao to Step Down, Plead Guilty to Money Laundering Binance CEO Changpeng Zhao has agreed to step down from his role at the world’s largest crypto exchange as part of a settlement with the U.S. Department of Justice. He also plans to plead guilty to violating criminal U.S. anti-money-laundering requirements that would potentially allow the exchange to keep operating, people familiar with the matter […]
De.Fi 2.0: Revolutionizing SocialFi & Antivirus, Secures $5 Million in Funding Source: Adobe / BeNeDak De.Fi, a platform that describes itself as a “SocialFi & Antivirus SuperApp,” has achieved a major milestone with the introduction of decentralized finance (DeFi) platform De.Fi 2.0, along with an ongoing public sale of its DEFI token. So far, the project has successfully raised $5 million, with the sale still open […]
Fantom Awards $1.7 Million to Security Researcher for Spotting A Massive Vulnerability Source: Adobe Stock / sunilpurushe The Fantom Foundation has awarded a $1.7 million bounty to a blockchain security researcher who identified a potential breach that could result in $170 million losses. The non-profit organization that partakes in the blockchain’s development says it has eliminated likely risks of a hack from a tip it received after […]
Fantom awards $1.7M to security researcher for averting $170M loss The Fantom Foundation says the $1.7 million is bounty for a security researcher whose quick alert helped prevent a potential $170 million hack. Fantom had lost $550k in October, with the hack targeting a reassigned wallet seeing an employee lose $7 million. The Fantom Foundation, the non-profit organisation behind the crypto platform Fantom, rewarded a […]
FBI Arrests Three Men in Alleged $10 Million Crypto Laundering Scheme Three men have been charged with laundering over $10 million in cryptocurrency. If found guilty, the three face a maximum of 30 years in federal prison, according to an announcement from the United States Attorney for the Southern District of New York said on Thursday. The U.S. Department of Justice charged Zhong Shi Gao, Naifeng […]
CertiK reports a critical security vulnerability in Solana’s Saga phone Security platform CertiK has released a video demonstrating a critical vulnerability exploit on Solana’s flagship Saga phone. Blockchain security platform CertiK claimed that the Solana Saga phone has a major vulnerability that could allow hackers to create a backdoor into its software and compromise the device. Certik posted a minute-long video on X (formally known […]
Today in Crypto: 46.5% of Web3 Fund Loss is Result of Traditional Web2 Security Issues, Investment in Blockchain Gaming Hits $1.5 Billion in 2023
Coin Cloud security breach exposes thousands of user data Hackers are said to have gained access to such private data as SSNs, emails, and phone numbers for more than 300,000 customers of Coin Cloud. An unknown cybercriminal (or a group of hackers) has reportedly gained unauthorized access to personal data for over 300,000 customers of the now-defunct Bitcoin (BTC) ATM provider Coin Cloud. An […]
Blockchain Security Firm Peckshield Reports Suspicious Activity in Poloniex Exchange Wallet – $60 Million Drained?
Russia-linked crypto ransomware hits U.S. arm of Chinese lender A Russian-speaking crypto ransomware gang LockBit has attacked ICBCFS arm in the U.S. Cryptocurrency ransomware gang LockBit has attacked the U.S. arm of the Industrial and Commercial Bank of China Financial Services (ICBCFS). Currently, it prevents the bank from settling Treasury trades, the Financial Times (FT) reports, citing market participants. Although details of the attack […]
OneCoin’s Head of Legal and Compliance Pleads Guilty To Wire Fraud and Money Laundering Charges Source: Pixabay OneCoin’s legal chief pleaded guilty to money laundering and wire fraud charges, according to a statement released today from the U.S. Attorney’s Office for the Southern District of New York. Bulgarian national Irina Dilkinska, 42, faces up to 10 years in prison for her role in OneCoin’s notorious crypto fraud scheme. In a […]
Aave DAO to consider security patches after Nov. 4 market freeze A coalition of Aave contributors and web3 developers put forth a proposal to address vulnerabilities discovered in two versions of defi’s largest lending protocol which prompted a halt on select markets. The proposal from BGD Labs suggested changes to Aave’s v2 deployment on Ethereum and Aave v3 on Arbitrum, Avalanche, Optimism, and Polygon blockchains. If […]
