Tether solidifies measures against illegal USDT usage by collaborating with the Department of Justice (DoJ), FBI, and Secret Service.Expanding its reach, Tether establishes active partnerships with entities in Israel, furthering its strategies to ensure USDT's lawful utilization.Tether rigorously enforces US sanctions on the international use of USDT, emphasizing compliance with regulatory frameworks to curb unauthorized activities.

🛡️ Tether's Collaborative Efforts Against Illicit Use 🤝💼
Tether, the leading issuer of stablecoins, took a proactive step by engaging with the Department of Justice, involving the FBI and the US Secret Service to prevent misuse of its stablecoin USDT by criminals. The company's collaboration with law enforcement agencies led to the freezing of $435 million USDT and 326 wallets on US authorities' instructions on December 17, 2023.
💼 Global Law Enforcement Coordination 🌍👮‍♂️
Beyond the US, Tether actively cooperates with international law enforcement to combat money laundering, trafficking, and terror financing, demonstrating a commitment to regulatory compliance and global security.
📜 Revelations in Tether's Letters 📨🔍
Tether responded to concerns raised by Senator Cynthia Lummis and Congressman J. French Hill regarding money laundering and terror financing in cryptocurrencies. In a letter dated December 17, 2023, Tether highlighted collaboration with the Office of Foreign Assets Control (OFAC) and freezing actions on its Specially Designated Nationals (SDN) list.
🔑 Key Points from Tether's Letter 🗝️📝
Tether outlined its new wallet freezing policy, aligning with PayPal's PYUSD, and committed to freezing all wallets linked to the SDN list. The company's partnership with law enforcement aims to curtail illicit transactions and facilitate fund recovery, aspiring to set industry standards.
🚫 Past Actions Against Illicit Activities ⛔📉
Tether previously froze funds linked to terror activities in Israel, collaborating with Israel's National Bureau for Counter Terror Financing. Reports indicated USDT's involvement in money laundering via the Tron blockchain in the region. Additionally, Tether froze $225 million allegedly tied to human trafficking, employing blockchain analysis tools for detection.
⚖️ Regulatory Landscape: Wins and Setbacks 🏛️💼
While the Department of Justice's settlement with Binance resulted in a $4 billion fine and CEO Changpeng Zhao stepping down, regulatory agencies like the SEC faced setbacks, notably in cases against Ripple and the Grayscale Bitcoin ETF. The SEC's stance hints at a potential Bitcoin ETF approval in early 2024.
💰 Tether's Significance in the Market 💵📊
As of December 17, 2023, Tether boasts a market size nearing $90 billion, solidifying its position as the largest stablecoin issuer, surpassing USDC's market cap by a substantial margin.
🔔 Disclaimer: The information provided aims for accuracy, but it's prudent to conduct personal research before making financial decisions in the volatile cryptocurrency market.
#Tether #FBI #crypto2023 #cryptocurrency

The US Department of Justice has announced the seizure of cryptocurrency worth an estimated $112 million linked to cryptocurrency investment scams. The seizure warrants for six cryptocurrency accounts were authorized by judges in Arizona, California, and Idaho.

According to court documents, the cryptocurrency accounts were used to launder proceeds of various cryptocurrency confidence scams. Fraudsters cultivated long-term relationships with victims online, eventually enticing them to make investments in fraudulent cryptocurrency trading platforms. However, the funds sent by victims for these purported investments were instead funneled to cryptocurrency addresses and accounts controlled by scammers and their co-conspirators.

The majority of investment frauds reported to the FBI’s Internet Crimes Complaint Center (IC3) in 2022 involved cryptocurrency, including pig butchering. These scams increased by 183% from 2021 to $2.57 billion in reported losses last year.

Scammers often target victims between the ages of 30 and 49 through social networking and online communications platforms, dating websites, and phone calls and text messages that are meant to appear to have been misdialed. After gaining their trust, scammers introduce the idea of trading in cryptocurrency and direct victims to fraudulent investment platforms or to co-conspirators posing as investment advisors or customer service representatives.

Director Eun Young Choi of the Criminal Division’s National Cryptocurrency Enforcement Team (NCET) emphasized the importance of early notification by victims to law enforcement, thanking those who came forward to notify the FBI when targeted by this scheme. Assistant Director Luis Quesada of the FBI’s Criminal Investigative Division added that the announcement should serve as a reminder of the FBI’s unwavering commitment to investigating and pursuing criminal actors who seek to defraud the American public.

Assistant U.S. Attorneys from Arizona, California, and Idaho, along with members of the NCET and the Criminal Division’s Fraud Section, are in charge of the seizures announced today, with the FBI Phoenix Division investigating the case.

#FBI #crypto2023 #Binance #BTC #azcoinnews

This article was republished from azcoinnews.com

Bulgarian woman, Irina Dilkinska, has been extradited to the United States and charged for her involvement in the OneCoin cryptocurrency pyramid scheme. The charges were unsealed by the DOJ on March 21. The fraudulent cryptocurrency was marketed and sold to millions of victims worldwide, resulting in billions of dollars in losses.

Dilkinska was the Head of Legal and Compliance for OneCoin. She is accused of enabling OneCoin to launder millions of dollars of illegal proceeds through shell companies, and of helping perpetuate a scheme that affected millions of victims. She will appear before United States Magistrate Judge Sarah Netburn to face justice for her alleged crimes.

OneCoin began operations in 2014 and was based in Sofia, Bulgaria. The company was founded by Ruja Ignatova, also known as “the Cryptoqueen,” and Karl Sebastian Greenwood. It marketed a purported cryptocurrency by the same name, which was in fact a fraudulent pyramid scheme.

OneCoin operated as a multi-level-marketing (MLM) network through which members received commissions for recruiting others to purchase cryptocurrency packages. According to OneCoin’s promotional materials, over three million people invested in fraudulent cryptocurrency packages. OneCoin records show that, between the fourth quarter of 2014 and the fourth quarter of 2016 alone, OneCoin generated €4.037 billion in sales revenue and earned “profits” of €2.735 billion.

Dilkinska was accused of assisting in the creation and management of shell companies to launder OneCoin proceeds and to hold property belonging to Ignatova. She allegedly helped co-conspirator Mark Scott, a former equity partner at a prominent international law firm, launder approximately $400 million in OneCoin proceeds through a series of fake Cayman Islands investment funds operated by Scott.

Dilkinska used a company named B&N Consult EEOD to disguise the transfer of millions of dollars as purported “investments” into Scott’s funds. In or around September 2018, Dilkinska learned of Scott’s arrest in connection with his laundering of OneCoin proceeds. Shortly thereafter, Dilkinska burned incriminating documents, sent co-conspirator Konstantin Ignatov a text message with a link to a newspaper article about the arrest, and then wrote a series of texts.

The charges against Dilkinska are a result of the exceptional investigative work of federal and international law enforcement partners. The IRS Criminal Investigation is committed to holding those who commit fraud accountable, no matter where they are located. The FBI will continue its determination to bring alleged fraudsters like Dilkinska to justice.

#Dilkinska #FBI #ONECOIN #crypto2023 #azcoinnews

This article was republished from azcoinnews.com

Fraudsters are posing as venture capital leaders on Telegram to pilfer cryptocurrency from investors.Tactics involve luring victims with deceptive links, leading to phishing schemes.The FBI is investigating a notable case, highlighting the severity of these fraudulent activities.
Amidst the surge of fraudulent activities within the crypto sphere, a fresh breed of scams has surfaced on Telegram, raising alarms and attracting the attention of law enforcement agencies. Reports indicate that scammers are masquerading as Venture Capital Executives on the popular social networking platform, deploying phishing links and malware in attempts to pilfer cryptocurrencies.
This disturbing trend has prompted the involvement of the FBI, whose agents are actively investigating these fraudulent activities. Notably, Alexandre Masmejean, CEO of Showtime, recently disclosed encountering FBI agents from Los Angeles, who provided crucial advice on securing his digital assets and personal information.
Alarming revelations emerged when Masmejean, acting upon the FBI's guidance, discovered compromising breaches within his personal details and MacBook. Despite no immediate losses, his device had been infiltrated after a hacker, posing as Chao Deng, Head of HashKey Singapore Group, lured him into clicking a video link.
Fortunately, Masmejean’s prudent use of hardware wallets acted as a safeguard against substantial losses. Nonetheless, this incident underscores the importance of adopting stringent security measures in crypto transactions, storage, and preservation.
The crypto community stands cautioned against unsolicited messages or links and urged to exercise heightened vigilance. As the crypto landscape remains volatile, maintaining vigilance and implementing robust security practices is paramount to safeguarding assets. Please note that while Voice of Crypto aims for accuracy, readers are encouraged to conduct thorough research and take responsibility for their financial decisions.
#scam #scammers #scamalert #FBI

#FBIWarning #FBI #NorthKoreaHackers #northkorea #CryptoNewss

Preface

The financial and cryptocurrency sectors are once again on high alert, with the FBI issuing a stern warning regarding North Korea's hacking efforts aimed at U.S. crypto funds and Bitcoin ETFs. This troubling development highlights the increasing sophistication of cyberattacks against digital assets, revealing the global threat posed by state-sponsored hackers, particularly from North Korea. As cryptocurrencies and ETFs grow in popularity and value, the risks to investors are escalating, prompting calls for heightened security measures.

North Korea’s Growing Focus on Cryptocurrencies

For years, North Korea has been exploiting digital assets as a means to bypass international sanctions that have crippled its economy. The FBI reports that North Korean cybercriminals are increasingly targeting U.S.-based cryptocurrency exchanges, decentralized finance (DeFi) platforms, and more recently, Bitcoin Exchange-Traded Funds (ETFs). These efforts reflect the regime's strategic interest in digital currencies to supplement its economy amid ongoing sanctions.
The cryptocurrency community was alerted to this rising threat when the FBI warned of North Korea's intent to steal U.S. crypto and Bitcoin ETF funds. North Korea's hacking teams have gained notoriety for their advanced techniques, employing phishing schemes, malware, and other sophisticated methods to access and compromise digital assets.

Bitcoin ETFs : Prime Targets for Cyberattacks

Bitcoin ETFs have emerged as a popular investment vehicle in the U.S., providing investors a way to gain exposure to Bitcoin without directly owning the cryptocurrency. As more Bitcoin ETFs, including one from BlackRock, receive approval, their value has surged, making them an attractive target for North Korean hackers. These state-sponsored cybercriminals are not only infiltrating cryptocurrency exchanges but are also setting their sights on financial institutions that manage ETF investments. Their goal is to steal and liquidate these assets to bolster North Korea's dwindling treasury.
The increase in Bitcoin ETFs has raised concerns about their security, as they are becoming high-value targets for hackers seeking to exploit vulnerabilities in digital finance. This latest revelation underscores the urgent need for more robust cybersecurity measures within the financial sector.

The U.S. Government’s Response and Global Concerns

In response to these mounting threats, the U.S. government has taken action to counter North Korea's aggressive hacking activities. The FBI, along with other federal agencies, has implemented stronger cybersecurity protocols across the crypto landscape. However, experts warn that despite these efforts, the risks associated with digital assets continue to grow, particularly as North Korean cybercriminals advance their techniques.
One cybersecurity expert quoted in the FBI report emphasized the gravity of the situation:

"The sophistication of these attacks is alarming. As digital finance becomes more integrated into global markets, we must be proactive in safeguarding our financial systems from state-sponsored threats."

The FBI has also urged private investors and institutions to adopt stronger security measures, including two-factor authentication (2FA), cold storage solutions for their assets, and continuous monitoring of suspicious activities to prevent potential breaches.

North Korea’s History of Cryptocurrency Crimes

North Korea's involvement in cryptocurrency-related crimes is not a recent development. The Lazarus Group, a state-sponsored North Korean hacking organization, has been linked to some of the largest crypto thefts in history. In 2021 alone, the group stole over $400 million in cryptocurrencies. Their cybercrimes have continued to escalate, with a focus on U.S. targets in 2023.
Blockchain analytics firm Chainalysis revealed that North Korean hackers have stolen billions of dollars in cryptocurrency over the past few years. These funds are believed to be funneled into the country's weapons development programs, which raises significant international concerns. North Korea’s reliance on digital asset theft has become a critical component of its strategy to evade global sanctions and fund its regime.

Strengthening Security in the Digital Asset Space

The FBI’s recent warning is a clear reminder that investors and institutions must prioritize security in the rapidly evolving digital asset space. With North Korean hackers and other cybercriminals continuously refining their methods, the pressure to stay ahead in terms of cybersecurity is mounting.
Many industry experts are now calling for regulatory bodies to take a more proactive role in enforcing stricter cybersecurity protocols for crypto exchanges and custodial platforms. An anonymous source from a leading U.S. cryptocurrency exchange emphasized the importance of vigilance:

"We need to treat every potential breach with the utmost seriousness. The threat landscape is constantly changing, and the only way to stay secure is to adapt our defenses in real-time."

With the evolving nature of cyber threats, both public and private sectors must work together to ensure the safety of digital assets. This includes the adoption of enhanced encryption technologies, constant system audits, and better education for users to recognize and avoid phishing and malware attacks.

Conclusion : A Wake-Up Call for the Crypto Industry

The FBI’s warning about North Korea’s attempts to hack U.S. crypto and Bitcoin ETF funds should serve as a wake-up call for the entire cryptocurrency industry. As digital assets increase in value and popularity, they become increasingly attractive targets for state-sponsored hackers. The fight against cybercrime in the crypto world is far from over, and it is essential for investors, institutions, and regulatory bodies to collaborate and safeguard the growing digital economy.
With North Korea’s sophisticated hacking groups continuing to make headlines, vigilance, and advanced security measures are more crucial than ever in defending against these evolving threats. While the U.S. government and private sector are stepping up efforts to counter these dangers, staying informed and proactive is key to protecting the integrity of digital assets in an increasingly uncertain global landscape.