Crimes | ForkLog

ForkLog 3 20.05.2024

Suspect in Pump.fun Hack Arrested in London

The British police have detained a suspect in the hacking of the meme-token launch platform Pump.fun on Solana, as reported by Blockworks. On May 17, the team claimed that the exploit, which resulted in $1.9 million in damages, was carried out by a former employee who took advantage of a “privileged position.” Igor Igamberdiev, head […]

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ForkLog 40 17.05.2024

Pump.fun Suffers $1.9 Million Loss in Insider Attack

The meme token launch platform Pump.fun on Solana has accused a former employee of an exploit resulting in a $1.9 million loss. https://t.co/uE2QNKXkIT coin migration issue post-mortem TL;DR: 1. the https://t.co/uE2QNKXkIT contracts are safe. they have always been safe2. a former employee used their privileged position at the company to misappropriate ~12.3K SOL (~$1.9m)3. https://t.co/uE2QNKXkIT […]

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ForkLog 13 15.05.2024

BlockTower Capital Hedge Fund Suffers Hack, Sources Reveal

The cryptocurrency hedge fund BlockTower Capital has suffered an undisclosed loss due to a hacker attack. The incident was reported by informed sources to Bloomberg. According to PitchBook, the company manages assets worth $1.7 billion. The perpetrators remain at large. The firm has hired blockchain forensic analysts to investigate. BlockTower declined to comment on the […]

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ForkLog 18 15.05.2024

Chinese Authorities Dismantle Underground Bank Handling $1.9 Billion in USDT

The Municipal Public Security Bureau of Chengdu, Sichuan Province, with the assistance of colleagues, has halted the operations of an underground cryptocurrency bank that provided financial services to smugglers and those seeking to transfer assets abroad. This was reported by local media. To evade national currency oversight, the suspects utilized USDT in their operations, conducting […]

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ForkLog 6 13.05.2024

Chinese Authorities Uncover $295 Million Cryptocurrency Laundering Scheme

Chinese police have uncovered an underground banking scheme that utilised digital assets for the illicit exchange of yuan and South Korean won amounting to $295.8 million. Local media reported the arrest of six suspects in Jilin province in the northeast of the country. Authorities seized numerous bank cards and other “criminal tools” from the suspects. […]

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ForkLog 10 09.05.2024

Taiwan Enforces Prison Sentences for Cryptocurrency-Based Money Laundering

Individuals using digital assets for money laundering in Taiwan now face prison terms ranging from six months to five years, as stipulated by new anti-fraud legislation. According to ABMEDIA, Taiwan has recently passed new regulations. Any cryptocurrency service provider that fails to complete money laundering prevention registration will face up to 2 years in prison. […]

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ForkLog 39 05.05.2024

Cred Executives Charged with $783 Million Fraud

The Northern District of California’s prosecutor has charged three former top executives of the crypto lending platform Cred with conspiracy to commit money laundering and fraud amounting to $783 million. According to court documents, Daniel Schatt was a co-owner and CEO of the firm, Joseph Podulka served as the Chief Financial Officer, and James Alexander […]

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ForkLog 5 01.05.2024

Chinese Authorities Detain Suspected StarkNet Airdrop Thief

Chinese authorities have arrested a man named Lan Mou, suspected of forging personal data to steal StarkNet airdrops, according to local media. He was detained on April 25 in Guangdong province, in possession of a computer and two phones. With the acquired personal information, Mou allegedly impersonated others and submitted over 40 fraudulent requests to […]

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ForkLog 7 01.05.2024

Beribit Exchange Accused of Fraud by Clients

At least 20 clients of the cryptocurrency exchange Beribit have filed police reports alleging fraud by the platform, according to the Telegram channel “Baza”. One affected individual claims to have deposited 121.7 million rubles into the exchange, with all his savings now frozen. The total amount of funds blocked on Beribit is estimated to be […]

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ForkLog 5 28.04.2024

Taiwanese Prosecutors Seek 20-Year Sentence for ACE Exchange Founder

The Taipei District Prosecutors Office has requested 20-year prison sentences for four key suspects in a fraud and money laundering case linked to the cryptocurrency exchange ACE Exchange, reports Taipei Times. Among the accused are the platform’s founder, David Pan, his business partner Lin Keng-hong, and lawyer Wang Chen-huan, who served as the exchange’s chairman. […]

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ForkLog 1 26.04.2024

UK Police Granted Powers to Seize Cryptocurrency Without Arrests

The UK’s National Crime Agency and police have been granted powers to “seize, freeze, and destroy” cryptocurrency used by criminals. As part of investigations, law enforcement agencies will be able to confiscate passwords or memory cards and liquidate crypto assets if their return to circulation is deemed harmful to the public good. This particularly applies […]

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ForkLog 15 26.04.2024

US Influencer Sentenced to Seven Years for Cryptocurrency Fraud

A federal court in Brooklyn has sentenced Instagram influencer Jebara Igbara, known as Jay Mazini, to 84 months in prison for orchestrating cryptocurrency scam schemes. He was found guilty of wire fraud, conspiracy, and money laundering amounting to at least $8 million. The sentence also mandates the forfeiture of $10 million from the defendant. The […]

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