Bittrex Target of Latest $1 Million Crypto SIM Hack Lawsuit

Crypto exchange Bittrex is being sued over a SIM swap that netted criminals 100 bitcoin, currently worth nearly $1 million. The case resembles other recent high-profile heists in which a hacker seizes control of a victim’s cell phone to then loot online crypto accounts: the swap was from cellular carrier AT&T, money was taken from […]

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Reggie Middleton Reaches $9.5 Million SEC Settlement Over ICO Fraud

The U.S. Securities and Exchange Commission (SEC) said it has reached a settlement with Reggie Middleton, organizer of the fraught $14.8 million Veritaseum (VERI) initial coin offering (ICO). In a filing with the New York Eastern District Court, dated Oct. 31 and published today, Middleton agreed to the consent decree of the final judgment, without having […]

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Bitfinex Denies Laundering, Says It’s a Victim of ‘Fraud’ by Crypto Capital

Bitfinex says it was conned. The crypto exchange and sister company of Tether claimed Friday that it was the “victim of a fraud” at the hands of Crypto Capital, a payment processor that allegedly lost $880 million of Bitfinex’s money. Crypto Capital’s president, Ivan Manuel Molina Lee, was arrested Thursday by Polish police on charges […]

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Hackers Launch Widespread Botnet Attack on Crypto Wallets Using Cheap Russian Malware

With millions of dollars cryptocurrency stolen from crypto wallets every year, security researchers were surprised to find one active botnet being run for about $160. The bargain Trojan malware is called MasterMana Botnet, which uses mass mailing to send phishing emails with attachments containing malicious code to crypto investors. Once someone clicks on the email, the […]

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Netki Retools Digital ID Service for FATF’s New Crypto ‘Travel Rule’

Netki has upgraded its digital identity service to help cryptocurrency firms meet tough new international standards for combating money laundering.  Announced Monday, the upgrade to TransactID adds two new features: The ability to break down certificates of a user’s identity into smaller pieces of personally identifiable information (PII); and the ability for senders and receivers […]

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Crypto Sleuthing Firm Elliptic Raises $23 Million in Fundraise Led by SBI

Blockchain forensics firm Elliptic has raised $23 million in a Series B funding round led by Tokyo-based financial institution SBI Holdings. Announced Wednesday, the funding will help drive Elliptic’s Asia expansion, which includes a recently opened Singapore office and one in Japan that will open this week. Tomoyuki Nii, executive officer for overseas investment at […]

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Indian Police to Get Special Training to Spot Crypto Scams

The Ministry of Home Affairs in India plans to provide an all-expenses paid police training session to create “domain expertise” in cryptocurrency-related crime, according to a government filing. The two day course, titled “Investigation of Cases Involving Crypto Currencies,” will cover a wide range of educational components, including an introduction to blockchain technology, a discussion […]

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$200,000 in Bitcoin Seized in Dark Net Drug Probe

U.S. authorities seized more than $200,000 worth of bitcoin after alleged drug manufacturer and dealer met with undercover law enforcement officers to exchange the digital currency for cash at a hotel in Norwood, Massachusetts. The arrest — which occurred on March 27, 2019 — was part of a wider investigation into a Boston-based drug syndicate […]

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Malware Crypto Ransoms Rose By Almost 90% in Q1: Report

The average cryptocurrency payout for ransomware attacks rose dramatically in the first quarter of 2019, according to a firm that helps victims pay ransoms. In its quarterly report, Coveware said that, while in Q4 last year the average ransom was $6,733, it shot up by 89 percent to $12,762 in the first three months of 2019. The […]

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AriseBank CEO Pleads Guilty to $4.2 Million Securities Fraud Involving ICO

Jared Rice Sr., founder of crypto bank AriseBank, pleaded guilty to one count of securities fraud Wednesday in federal court The Dallas News reported Thursday that Rice, who was arrested last year, admitted to scamming investors out of $4.2 million by selling AriseCoin tokens and promising that customers would receive Visa credit cards and accounts […]

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