The U.S. Treasury Department has proposed restrictions against Cambodia-based Huione Group over allegations of laundering $4 billion in illicit funds, including those linked to North Korean hackers. The […]
South Korea: Finance Employee Faces 10-Year Prison for $3.86M Crypto Embezzlement
A recent case in South Korea highlights the growing intersection of traditional finance and the volatile world of cryptocurrencies. A finance department employee allegedly embezzled a staggering $3.86 […]
U.S. Treasury Targets Huione Group for Crypto Laundering Allegations
The U.S. Treasury is proposing to block the Huione Group, a Cambodian conglomerate linked to the illicit online marketplace, from accessing the American financial system. The move follows […]
AUSTRAC Cracks Down on Inactive Crypto Exchanges in New Enforcement Action
Australia’s financial intelligence agency, AUSTRAC, has launched a regulatory crackdown targeting inactive cryptocurrency exchanges registered within the country. This move aims to mitigate money laundering risks by ensuring […]
Alex Mashinsky to Face 20-Year Sentence for Celsius Network Fraud
Former executive Alex Mashinsky of Celsius Network faces potential prison time of up to 20 years for orchestrating fraudulent activities that caused massive financial losses for customers. Court […]
Celsius Founder Faces Potential 20-Year Prison Sentence in Major Fraud Case
Alex Mashinsky, the founder of collapsed crypto lender Celsius Network, faces a potential 20-year prison sentence for orchestrating a massive fraud scheme that left thousands of customers with […]
Nigerian Bank Hit with N9.3 Billion Cyber Heist
A devastating cyberattack has resulted in a $24 million theft from a Nigerian bank. The attack, which leverages advanced iFrame technology to bypass security measures, highlights the increasing […]
FBI Report Highlights Surge in Cryptocurrency Scams, Reaching Over $9 Billion in Losses
The FBI Report on Cryptocurrency Scams in 2024: Details
Turkey Imposes Stricter Rules for Cryptocurrency Providers
Turkey’s cryptocurrency landscape has undergone a significant shift as the government unveils stricter regulations for service providers. Treasury and Finance Minister Mehmet Şimşek underscored the importance of compliance […]
Nigerian Entrepreneur’s Funds Frozen: Legal Battles and the Future of Fintech
A Nigerian entrepreneur recently experienced a concerning episode involving the freezing of his accounts by OPay and Kuda, allegedly due to a suspected fraud case linked to Union […]
China Steps Up Efforts to Curb Illegal Financial Activities in 2025
China is intensifying efforts to tackle illicit financial activity with a comprehensive meeting held in Beijing on April 10, 2025. The event, featuring the Inter-Ministerial Joint Conference and […]
Maryland Resident Loses $3 Million to Elaborate Investment Fraud
A resident of Maryland has fallen victim to a sophisticated investment scam, losing nearly $3 million through a long-term scheme orchestrated from Southeast Asia. The fraud unfolded over […]
FBI Recovers Millions From Heartland Tri-State Bank Cryptocurrency Fraud Case
The FBI has achieved a significant victory in recovering $8.2 million from the fraudulent cryptocurrency scheme that led to the collapse of Heartland Tri-State Bank in Elkhart, Kansas. […]
UK Tightens Grip on Crypto: $7.7 Million Illicit Assets Frozen
The United Kingdom is taking a decisive stance against illicit cryptocurrency activity. Law enforcement has frozen over $7.7 million in illicit digital assets since April 2023, showcasing the […]
Australia Warns Cryptocurrency ATM Providers Over Money Laundering Concerns
Australia’s financial crime regulator, AUSTRAC, has issued a warning to cryptocurrency ATM providers, highlighting potential risks of money laundering and fraud. The agency’s investigation reveals suspicious activities associated […]