Monday, July 26, 2021

cryptocurrency

Robinhood crypto unit expects $10m fine from New York regulators over cyber, anti-money laundering breaches

The cryptocurrency brokerage of Robinhood Markets Inc. expects to pay New York regulators a penalty of at least $10 million for allegedly violating state rules on cybersecurity and anti-money-laundering practices, the company said in filings last week. The unit, Robinhood...

Brazil’s Bitcoin Banco Group president arrested for embezzling $300m crypto funds

Claudio Oliveira, former head of Brazil-based crypto brokerage firm Bitcoin Banco Group, was arrested on Monday for embezzling $300 million worth of investors’ funds. What Happened: According to a press release from Brazil’s federal police, authorities issued arrest warrants for Oliveira and several...

UK financial watchdog bans crypto exchange Binance

Britain's financial regulator has said Binance, one of the world's largest cryptocurrency exchanges, cannot conduct any regulated activity and issued a warning to consumers about the platform, which is coming under growing scrutiny globally. In a notice dated June 25,...

U.K. met police seize $160m in cryptocurrency in money laundering probe

About £114m of cryptocurrency has been seized by UK police as part of a money-laundering investigation. The Metropolitan Police said the confiscation was the largest of its kind in the UK, and one of the largest in the world. Last year, US...

India investigates Binance’s WazirX over crypto transactions

India’s financial crime-fighting agency said on Friday that WazirX, one of the country's largest cryptocurrency exchanges and its directors, were under investigation for suspected violation of foreign exchange regulations. The investigation comes at time when the Indian government is mulling...

How criminals are laundering cryptocurrencies

In the world of online crime, anonymous cryptocurrencies are the payment method of choice. But at some point, virtual hauls need to be turned into hard cash. Enter the “Treasure Men”. Finding a Treasure Man is easy if you know...

UK banks suspend payments to cryptocurrency exchanges

Banks are cracking down on transfers to cryptocurrency exchanges by suspending payments to the sector amid rising fears that it has become a hotbed for financial crime. Customers of banks including Barclays, Monzo and Starling are among those to have...

U.S DoJ, IRS probe crypto exchange Binance over crypto crimes

Binance Holdings Ltd. is under investigation by the Justice Department and Internal Revenue Service, ensnaring the world’s biggest cryptocurrency exchange in U.S. efforts to root out illicit activity that’s thrived in the red-hot but mostly unregulated market. As part of...

U.S. arrests alleged ‘Bitcoin Fog’ operator for money laundering

U.S. officials on Tuesday arrested Roman Sterlingov, the alleged principal operator of cryptocurrency money laundering website Bitcoin Fog, according to a federal court filing. Sterlingov, a citizen of Russia and Sweden, was detained in Los Angeles on money-laundering related charges. Bitcoin...

Another Turkish cryptocurrency exchange collapse amid crackdown

A second cryptocurrency exchange has collapsed in Turkey amid a crackdown on the industry. The platform, Vebitcoin, said in a brief statement on its website that it has ceased all activities after facing financial strain and that it would update clients on...

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Ex-CEO of social media startup admits to defrauding investors using forged documents

The former chief executive of a social media startup that pitched itself as a Facebook for small businesses has...