Posts in category

Crime


A 22-year-old cryptocurrency millionaire has lost more than 5,500 bitcoins in an alleged investment scam in Thailand that drew public attention due to the alleged involvement of a Thai film actor. According to a media report from Bangkok Post on Monday, a group of Thai people approached and solicited Finnish businessman Aarni Otava Saarimaa in …

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More than 170,000 devices in Brazil were targeted in a cryptojacking attack last month. According to a blog post published by security firm Trustwave, a wide-scale cyberattack was launched on MicroTik routers late last month. The effort led to the installation of the Coinhive mining software in a “mass” infection of more than 17,000 devices. Trustwave security researcher …

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Criminals were behind roughly 90 percent of all bitcoin transactions five years ago – a figure that has now declined to 10 percent. That’s according to Lilita Infante, a special agent from the U.S. Drug Enforcement Administration who spoke to Bloomberg about changing trends in the relationship between the cryptocurrency and criminal activity. “The volume has grown …

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Researchers have uncovered a huge botnet that mimics legitimate accounts on Twitter to spread a cryptocurrency “giveaway” scam. As reported by ITPro, the discovery was made during a research effort by Duo Security that looked at 88 million Twitter accounts from May to July and used machine learning to identify bots, malicious or otherwise, on the social …

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A former bitcoin trader and crypto exchange operator from the U.S. state of Arizona, has been sentenced to 41 months in jail, according to court documents. The sentencing was announced by the Department of Justice on Wednesday, after a federal jury convicted Thomas Mario Costanzo on five charges of money laundering on March 28. The sentence …

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Korean police are investigating a cryptocurrency startup claiming to be selling treasure from a sunken ship, the Korea Joongang Daily reported Tuesday. Authorities are reportedly looking into Shinil Group, which claims to have found a Russian shipwreck from the early 1900s, for possible fraud charges. The company launched its own cryptocurrency, which investors bought with …

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The chief executive of a cryptocurrency mining startup has reportedly disappeared with $35 million in client investments, Newsweek reported Monday. Le Minh Tam, head of Vietnam-based Sky Mining, has been missing since July 26, according to the report. The startup, which claimed it would rent crypto miners to investors for between $100 and $5,000, received …

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Initial coin offering support platform KickICO lost $7.7 million in KICK tokens in a hack on Thursday, the company reported. CEO Anti Danilevski wrote in a blog post that the startup’s team discovered some 70 million KICK tokens missing from its wallet, after the KickCoin smart contract owner’s private key was compromised. Several users’ wallets …

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The developers behind the CoinVault and BitCryptor ransomware were sentenced to 240 hours of community service in a Dutch court on Thursday. Melvin and Dennis van de B., aged 25 and 21, were convicted of accusing 1,259 computers in the Netherlands and other Western European countries with the ransomware and demanding bitcoin payments as a …

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The Swiss Financial Market Supervisory Authority (FINMA) announced Thursday that it is investigating blockchain startup Envion AG for potentially breaking financial market rules with its initial coin offering (ICO). Envion, which raised $100 million in the ICO earlier this year, has allegedly broken banking laws by accepting public deposits in exchange for its EVN token, …

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The man behind two now-defunct cryptocurrency investment sites has pled guilty to securities fraud and obstruction of justice charges. The U.S. Attorney for the Southern District of New York announced the guilty plea on Monday, coming days after it was reported that Montroll was close to a deal with prosecutors. Jon Montroll was arrested back …

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The operator of defunct bitcoin investment platform BitFunder, Jon Montroll, is reportedly seeking a plea bargain over fraud and other charges laid against him by the U.S. Securities Exchange Commission (SEC). FinanceFeeds indicated Thursday that, according to a document submitted by Montroll’s legal counsel, “a plea agreement agreed upon in principle and expected to be …

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A British county police force has become the first in the country to seize and exchange bitcoins discovered during a criminal investigation. According to a report from the Financial Times yesterday, the Surrey police force obtained 295 bitcoins last October after arresting a Latvian man called Seregjs Teresko, who has since been convicted for money laundering and …

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Illicit cryptocurrency mining, or “cryptojacking,” has become more popular among cybercriminals than ransomware, according to a report by Skybox Security. In its mid-year update, the firm said that crypto miners now account for 32 percent of all cyberattacks, while ransomware only makes up 8 percent. Cryptojacking utilizes code hidden on websites or devices to harnesses victims’ computing …

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A Russian national accused of laundering billions of dollars on the now-defunct crypto exchange BTC-e could soon be extradited to France following a court decision. Since his arrest last summer, Alexander Vinnik has been at the center of a legal tug-of-war between the governments of Russia, the U.S. and, more recently, France, all of which …

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A group of Russian military intelligence officers indicted Friday as part of an ongoing investigation into Russian interference in the 2016 U.S. presidential election allegedly used bitcoin to fund their operations. In the just-released indictment, prosecutors assert that the 12 named intelligence officers hacked computer networks and email accounts owned and used by the U.S. Democratic Party, …

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A federal judge has postponed any decision on a crypto fraud case brought by the Commodity Futures Trading Commission (CFTC) against alleged scammer Patrick McDonnell. Judge Jack Weinstein of the Eastern District of New York wrote in a court order Thursday that the CFTC must file “proposed findings of fact, conclusions of law, and [a] post-trial …

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The Commodity Futures Trading Commission (CFTC) is wrapping up its case against CabbageTech owner and accused crypto-fraudster Patrick McDonnell – but the hearings in New York this week have been anything but simple. The U.S. regulator is seeking a permanent injunction against McDonnell, who allegedly defrauded investors out of nearly $500,000, according to a lawsuit …

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The U.S. Securities and Exchange Commission (SEC) has settled with two Nevada men over charges that they illegally profited from sales of stock in a claimed blockchain company, according to an SEC release. The SEC originally alleged on July 2 that attorney T.J. Jesky and his law firm’s business affairs manager Mark DeStefano had allegedly made about $1.4 …

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Cryptocurrency mining malware that infected over a million computers in China reportedly earned its creators more than $2 million over two years. According to a local news report on Monday, police in China’s Da Lian city have arrested 20 suspects from a computer technology firm who allegedly gained control of the large number of computers …

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