In a bold move to combat cryptocurrency-related crime, Tether, the company behind the widely-used stablecoin USDT, has announced a groundbreaking partnership with the Federal Bureau of Investigation (FBI) and the United States Secret Service. This collaboration aims to strengthen Tether's efforts in preventing the misuse of its stablecoin for illicit activities such as money laundering and terrorist financing.

Tether has long been the subject of scrutiny due to concerns over the transparency and legitimacy of its operations. However, the company has recently taken significant steps to improve its transparency and combat potential misuse of its stablecoin. By joining forces with the FBI and the Secret Service, Tether is demonstrating its commitment to ensuring the safety and security of its users and the broader cryptocurrency ecosystem.

The partnership will involve the exchange of information and expertise between the three organizations. The FBI and Secret Service will provide valuable insights and resources to help Tether identify and prevent criminal activities involving USDT. In turn, Tether will share its knowledge and experience in the cryptocurrency space, enhancing the agencies' ability to investigate and prosecute those engaging in illegal activities.

This collaboration comes at a time when the use of cryptocurrencies for illicit activities has become a growing concern for regulators and law enforcement agencies worldwide. By working together, Tether, the FBI, and the Secret Service hope to create a safer environment for cryptocurrency users and restore trust in the digital asset market.

While the partnership is a significant step forward in the fight against crypto crime, it remains to be seen how effective it will be in practice. Nevertheless, this bold move by Tether signals a strong commitment to ensuring the legitimacy and security of its stablecoin, and it is likely to be welcomed by the broader cryptocurrency community.

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Cryptocurrency investors face significant security challenges, with new attacks constantly emerging. From hacking smart contracts to social media scams, there are numerous ways that investors can lose their money.

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To address these risks, the FBI has issued a warning to the public. They caution about attackers who hijack social media accounts and deceive people with fake token sale addresses.

Additionally, the FBI expresses concerns about fake websites that use legitimate platforms to steal NFTs and cryptocurrencies from unsuspecting victims. It’s crucial for investors to stay vigilant and take measures to secure their funds in this ever-evolving crypto landscape.

Cryptocurrency investors face significant security concerns as new attacks continue to emerge daily. From hacking smart contracts to social media scams, there are various ways in which investors can lose their money. The FBI has issued a warning to the public, highlighting the risks involved.

The FBI specifically warns about attackers taking control of social media accounts to deceive people with fake token sale addresses. They are also concerned about fake websites that use legitimate platforms to steal NFTs and cryptocurrencies from victims.

These scams have resulted in an increasing number of victims losing their funds. For example, hackers targeted Uniswap founder Hayden Adams’ Twitter account and shared a link for a fake token sale. The attackers can make the link preview appear similar to the real website, tricking users into connecting their wallets and losing all their money.

To protect themselves, the FBI urges people to be cautious of criminals who pose as legitimate NFT developers and engage in financial fraud schemes targeting active users within the NFT community. These attackers may take over social media accounts or create nearly identical ones to promote fake NFT releases, using phrases like “limited stock” to create a sense of urgency and lure unsuspecting users into their traps. Being vigilant and verifying the legitimacy of websites and offers can help safeguard against such scams.

Scam websites often trick people into connecting their wallets to request or purchase NFTs, just like smart contracts that infect computers with viruses. These malicious smart contracts are designed to steal all keyboard inputs and recorded passwords, like Trojans or keyloggers, while emptying your wallet.

The FBI emphasizes the importance of researching and investigating any opportunities, especially surprise NFT airdrops or giveaways, before clicking on links. They encourage individuals to be cautious of inconsistencies in website URLs or account names to avoid falling prey to impersonators.

In summary, it is crucial to stay vigilant and double-check the legitimacy of offers and links to protect against scams that can lead to significant financial losses.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptocurrencyNews #NFT #Web3 #Blockchain #FBI

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The FBI confiscated 428.5 Ethereum and 5.12 Bitcoins from Virginia wallets, along with $310,277 in Tether stablecoins. This move comes as part of the FBI’s increased efforts in the cryptocurrency sector, which also involved shutting down nine exchanges.

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On August 16, public notices revealed that the FBI had taken control of different cryptocurrencies from wallets in recent months. The filing also mentioned the seizure of three main cryptocurrencies: Ethereum, Bitcoin, and Tether.

The filing also mentioned the confiscation of various items, including weapons, sneakers, and clothing.

FBI Seizures: Ethereum Surpasses Bitcoin and Tether

In the Eastern District of Virginia, authorities took control of 428.5 Ethereum from four wallets, valued at nearly $800,000 during the enforcement period. One of these seizures alone amounted to $463,811.

These seizures happened in April and May, with Ethereum’s value remaining relatively stable.

At today’s market prices, the total 428.5 Ethereum would be worth around $782,000.

According to the filing on August 16, the Bitcoin seized holds a value more than five times smaller than the confiscated Ethereum.

Around 5.12 Bitcoins were seized through various instances in 2023, totaling approximately $136,893.01. At the current time, this amount is worth about $149,221.00.

The filing also reveals that Tether worth $310,277 was taken during the period from March to May.

FBI Monitoring Cryptocurrency Activities

The FBI has taken action against individuals and entities involved in violating federal regulations related to cryptocurrency. The agency states that the seized property is subject to federal forfeiture due to these violations.

FBI’s Ongoing Involvement in the Crypto Sector

Throughout 2023, the FBI has been active in the cryptocurrency sector with various enforcement actions. In July, the founder of crypto exchange Kraken, Jesse Powell, had his home searched by the FBI as part of an investigation into alleged hacking and cyberstalking related to a nonprofit arts group

Additionally, in a collaborative effort with the National Police of Ukraine, the FBI recently shut down nine crypto exchanges suspected of involvement in money laundering. The authorities took down the servers of exchanges such as 24xbtc.com, 100btc.pro, pridechange.com, and others.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#CryptocurrencyNews #NFT #Web3 #Blockchain #FBI

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A famous North Korean hacker group recently stole around $41 million in cryptocurrencies. They pulled off this daring heist by targeting an online casino and betting website, showing how skilled they are at cybercrime.

The FBI has been keeping a close eye on this group and is now warning everyone about the large-scale illegal activities they are involved in.

Crypto Hack Results in Over $200 Million in Losses

The FBI says this hacking group has stolen more than $200 million this year alone. This pattern of stealing money shows how North Korean hackers are still a big threat in the world of online security. They can steal a lot of money without getting caught easily. This is a clear sign that we need better online security and countries working together to stop these criminals.

On September 4, Stake.com had to stop working for a while because someone took money from its digital wallets without permission. This affected Ethereum, Polygon, and the Binance Smart Chain.

The problem only affected those wallets, and everything else was fine. Stake.com started working normally again after five hours. The FBI found out that $41.3 million was stolen, and they say the Lazarus Group did it.

When Insider asked Stake.com about it, they didn’t respond. But one of the people who started the online casino, Edward Craven, called it a “sophisticated breach” in an interview with DL News.

Responsible: North Korea and the Lazarus Group

The FBI has said that the Lazarus Group from North Korea, which the US Department of Treasury’s Office of Foreign Assets Control had already punished in 2019, is behind many other big cryptocurrency thefts around the world.

Stake is a big cryptocurrency casino that’s in Curaçao. They let people bet with popular cryptocurrencies like Bitcoin and Ethereum, and they also have a sportsbook with more than 40 different sports to bet on.

Stake.com started in 2017 and now has more than 500,000 users from all over the world. They operate in several countries, including Canada, Brazil, Japan, and the United Kingdom.

The FBI says they will keep fighting against North Korea’s illegal activities to make money for the government. This includes cybercrimes and stealing virtual currency.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Blockchain #Bitcoin #CryptoNews #cryptomarket #FBI