Crimes | ForkLog

ForkLog 21 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 7 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 27 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 43 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 10 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 11 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 17 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 6 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 21 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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ForkLog 15 19.04.2024

Hong Kong Police Arrest 72 in Connection with JPEX Bitcoin Exchange

Hong Kong police have announced the arrest of 72 individuals as part of an investigation into fraud at the cryptocurrency exchange JPEX. This was reported by local media. Authorities have also frozen assets amounting to 228 million HKD ($29.37 million). In total, the police received 2636 reports from victims, with damages amounting to approximately 1.6 […]

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ForkLog 22 19.04.2024

Jury Finds Mango Markets Attacker Guilty

On April 18, a jury found Avraham Eisenberg guilty in the case concerning the attack on the DeFi project Mango Markets in 2022, which involved the extraction of digital assets worth $116 million. This was reported by Bloomberg. During the two-week trial, the defense argued that the defendant committed no crimes. According to his lawyers, […]

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ForkLog 67 17.04.2024

Police Officer Accused of Extorting WEX ‘Red Admin’ Placed on International Wanted List

Former employee of the BSTM of the Russian Ministry of Internal Affairs, part of the Department ‘K’, Georgy Satyukov, and his ex-colleague Dmitry Sokolov have been arrested in absentia and placed on an international wanted list. They are accused of receiving a bribe amounting to 4.9 billion rubles in cryptocurrencies from WEX exchange system administrator […]

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