Woman in the United Kingdom has been convicted of laundering a staggering $2.5 billion worth of illegally obtained Bitcoin
🫨 $BTC
https://coinmarketcap.com/academy/article/uk-woman-found-guilty-of-laundering-dollar25b-bitcoin
#laundering #BTC🔥🔥🔥🔥

- CertiK Skynet has issued a warning regarding a phishing link shared on the Elmonx_Official Discord server.

- Users are cautioned against clicking on any links until the server's control is reestablished by the team.

- The suspicious link leads to a recognized phishing contract on the Ethereum blockchain, identified as 0x0000C122208D1cC66C72FD6BfDf8A93F2E660000.

- Chinese authorities have apprehended 22 individuals linked to a cryptocurrency #money laundering case involving approximately 300 million yuan (about $46 million).

- The operation was supported by a joint task force comprising the Yichang Public Security Bureau and the Changyang Tujia Autonomous County #Public Security Bureau.

- Main suspect Fu confessed to purchasing U-coin #cryptocurrency using loans and investments, engaging in a "running points" scheme.

- Fu sold U-coin to overseas individuals involved in scams, who transferred the ill-gotten funds to Fu's accounts for withdrawal.

- At the time of the arrest, suspects had garnered over 5 million yuan ($770,000) in illegal profits, with total money #laundering exceeding 300 million yuan ($46 million).

- On August 4, police disbanded the fraudulent group behind the upstream blockchain trading platform for the "running points" gang across various cities.

- Presently, 14 suspects have been criminally detained, suspected of aiding information network criminal activities and concealing criminal proceeds.

- The case remains under ongoing investigation.

- Zhu Su, the founder of Three Arrows Capital, has issued a statement about the separation of DeFiance Capital (DC) and Starry Night Capital (SNC) funds from Three Arrows Capital Ltd (TACL).

- Su clarifies that DC and SNC have always been managed separately from TACL's other funds in both procedure and practice.

- Su asserts that DC and SNC should be treated as independent funds since TACL's board did not actively manage them during their existence.

- As the #acting liquidator for TACL, Su accuses Teneo of making repeated attempts to seize assets of other investors.

$BTC $ETH $BNB

Binance CEO CZ's Resignation Amidst $4 Billion Settlement with DOJ Sparks Cryptocurrency Market Buzz

Binance CEO Changpeng "CZ" Zhao's resignation is part of a monumental $4 billion settlement with the Department of Justice (DOJ) and the Commodities Futures Trading Commission (CFTC). Sources close to the discussions reported that Zhao will plead guilty to anti-money #laundering charges as part of this agreement, with the plea set to occur in federal court in Seattle. The Securities and Exchange Commission (SEC), having charged Binance and CZ in June, accused them of operating an unregistered exchange and misleading investors. The SEC alleged the use of a Switzerland-based fund, Sigma Chain, owned by CZ, to artificially inflate trading volume on Binance's U.S. platform, with SEC Chair #GaryGensler citing an "extensive web of deception" in June.

Bloomberg's report indicates that #Binance is nearing a $4 billion settlement with the Justice Department, potentially concluding an investigation dating back to at least 2018. Federal prosecutors had sought customer-related files from Binance in late 2020, as revealed by Reuters. At the time of publication, responses from Binance, the DOJ, CFTC, and #SEC were still pending, adding an element of uncertainty to the unfolding developments.

Remarkably, the SEC is not participating in this settlement, underscoring the distinctive roles played by various regulatory bodies in addressing the alleged misconduct. The situation, which involves legal intricacies, financial repercussions, and regulatory scrutiny, signifies a significant chapter in the history of Binance and the evolving landscape of cryptocurrency exchanges.#BTC
$BTC $BNB

Thai Authorities Crack Down on $27 Million Cryptocurrency Scam 🚨

Authorities in #Thailand have apprehended five foreign nationals tied to a fraudulent cryptocurrency investment platform that defrauded local investors of over $27 million.

The suspects, four from China and one from Laos, were arrested by Thailand's Cyber Crime Investigation Bureau (CCIB) after more than 3,200 locals reported losses from their investments in bchgloballtd.com.

The accused face charges of transnational crime collusion, public fraud, and money #laundering . The Office of the Attorney General in Thailand initiated prosecution proceedings in August 2022, leading to the confiscation of 585 million Thai baht worth of personal property from the suspects.

Investment schemes continue to wreak havoc in Thailand, prompting regulatory action, including new requirements from the Securities and Exchange Commission to protect investors and their assets.

Scammers are becoming increasingly sophisticated, targeting users through deceptive government-owned website URLs to access #crypto wallets.

#Binance
#crypto2023

#Oracle employee is under investigation for his alleged involvement in a $54 million #crypto money #laundering scheme. He is accused of assisting his associates, in storing and laundering a substantial amount of #cryptocurrency . Both associates who were previously convicted of cocaine trafficking, used the crypto to obscure proceeds from dark web drug sales. The main suspect is alleged to have played a key role in concealing and moving these illicit funds. Evidence against him includes prison calls where they discussed cryptocurrency destinations, and he ultimately divulged the wallet's password during a police raid, leading to the seizure of the cryptocurrency by the Department of Justice. The suspect, a former Oracle employee, has not commented on the ongoing investigation.