Russia sentences Hydra dark web market leader to life in prison

December 2, 2024 at 02:45PM Russian authorities sentenced Stanislav Moiseyev, leader of the Hydra Market criminal group, to life in prison for drug trafficking. Over a dozen accomplices received 8 to 23-year sentences. Hydra, once the largest darknet market, had substantial drug sales and money laundering operations before being seized by law enforcement in 2022. … Read more

Bloke behind Helix Bitcoin launderette jailed for three years, hands over $400M

November 15, 2024 at 08:04PM Larry Dean Harmon, 41, was sentenced to three years in prison for operating the Grams dark-web search engine and the Helix cryptocurrency laundering service, which handled over 354,000 bitcoins. He pleaded guilty to money laundering and conspiracy, and faces significant financial penalties, including a $60 million fine. ### Meeting Takeaways … Read more

Bitfinex hacker gets 5 years in prison for 120,000 bitcoin heist

November 15, 2024 at 11:39AM Ilya Lichtenstein, who stole 119,754 Bitcoin from Bitfinex in 2016, was sentenced to five years in prison after pleading guilty to money laundering. Arrested in 2022, he helped launder the funds with his wife, Heather Morgan. Authorities recovered about 80% of the stolen Bitcoin, worth $3.6 billion at seizure. ### … Read more

Bitfinex Hacker Sentenced to 5 Years, Guilty of Laundering $10.5 Billion in Bitcoin

November 15, 2024 at 01:39AM Ilya Lichtenstein has been sentenced to five years in prison for his role in the 2016 Bitfinex hack, which stole nearly 120,000 bitcoins. His wife, Heather Morgan, also pleaded guilty and will be sentenced soon. Authorities linked their arrests to laundering schemes involving fake identities and cryptocurrency exchanges. ### Meeting … Read more

Dark web crypto laundering kingpin sentenced to 12.5 years in prison

November 11, 2024 at 07:41AM Roman Sterlingov, operator of Bitcoin Fog, was sentenced to 12.5 years in prison for laundering over $400 million through his cryptocurrency mixing service. He must repay nearly $400 million and forfeit assets. His service facilitated various crimes, highlighting the Justice Department’s commitment to combatting illegal money laundering operations. ### Meeting … Read more

Bitcoin Fog Founder Sentenced to 12 Years for Cryptocurrency Money Laundering

November 9, 2024 at 01:12AM Roman Sterlingov, founder of the Bitcoin Fog cryptocurrency mixer, was sentenced to 12.5 years in prison for money laundering between 2011 and 2021. He must forfeit $395.56 million and his interest in a wallet holding 1,345 bitcoins. Bitcoin Fog laundered over $400 million for various cybercriminal activities. **Meeting Takeaways – … Read more

Southeast Asian Cybercrime Profits Fuel Shadow Economy

October 14, 2024 at 09:05PM Southeast Asia faces a growing shadow economy driven by cyber-enabled fraud and organized crime, generating $27-$37 billion annually. Criminal syndicates exploit lax laws and geopolitical tensions, advancing money laundering and human trafficking. Despite law enforcement efforts, innovation in cybercrime outpaces government response, posing significant economic and human rights challenges. ### … Read more

Russia arrests US-sanctioned Cryptex founder, 95 other linked suspects

October 4, 2024 at 03:02PM Russian law enforcement detained nearly 100 suspects connected to the Cryptex cryptocurrency exchange, UAPS anonymous payment service, and other platforms for illegal payments and stolen credentials. The individuals were arrested for organizing criminal activities, illegal payment processing, and banking activities. They made over $1.1 billion in 2023 and were linked … Read more

Binance claims it helped to bust Chinese crypto scam app in India

September 29, 2024 at 09:30PM Cryptocurrency exchange Binance assisted Indian authorities in investigating a scam gaming app. The alleged perpetrators operated accounts on Binance, which helped Indian authorities trace the app’s involvement in a cross-border criminal network. Separately, SpaceX expressed interest in investing $1.5 billion in Vietnam, while Singapore launched submarines to defend its waters … Read more

U.S. charges Joker’s Stash and Rescator money launderers

September 27, 2024 at 02:01PM The U.S. Department of Justice has charged two Russian nationals, Sergey Ivanov and Timur Shakhmametov, for money laundering and cybercrimes, including operating carding markets and cryptocurrency exchanges involving billions of dollars. Authorities also targeted Cryptex and seized servers hosting PM2BTC, leading to rewards for information on the individuals’ whereabouts. Additionally, … Read more