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BlockchaINVEST • January 7 - March 11, 2019

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Tag: money laundering

Coinflux Cryptocurrency Exchange Founder Extradited to the U.S. for Money Laundering

Category: Altcoins, Bitcoin, Business, Exchange, News, Regulation

Coinflux Cryptocurrency Exchange Founder Extradited to the U.S. for Money Laundering

Nistor Vlad Călin, the CEO of the cryptocurrency exchange Coinflux, has been extradited to the U.S. by Romania’s supreme court for a case of money laundering on his platform, reports Mediafax on January 4, 2018. U.S. Secret Service Files Charges Against CoinFlux’s CEO Per sources close to the matter, Nistor Vlad Călin, a 29-year-old businessman was charged by the U.S….

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Two Maryland Men Arrested for Selling Xanax and using Bitcoin for Money Laundering

Category: Bitcoin, Crime, News, Platform, Tech

Two Maryland Men Arrested for Selling Xanax and using Bitcoin for Money Laundering

According to the news agency Deepdotweb, Two Maryland men were arrested for selling illegally distributing Xanax pills and using bitcoin as a payment method for a multimillion-dollar laundering operation. Xanax Suspects Arrested The Department of Justice announced the arrests of over 30 suspects form dealing drugs over the Darkweb last July 3, 2108, in operation named “Operation Dark Gold.” According…

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ShapeShift Refutes the Wall Street Journal’s Claims of Money Laundering

Category: Altcoins, Bitcoin, Commentary, Exchange, Finance, News

ShapeShift Refutes the Wall Street Journal’s Claims of Money Laundering

In a blog post published October 1, 2018, cryptocurrency exchange service ShapeShift refuted a recent Wall Street Journal report claiming that approximately $9 million illegally obtained funds went through the exchange. ShapeShift’s CEO Erik Voorhees has issued a cutting rebuke of WSJ’s claims. The CEO emphasized that the authors’ claims were factually incorrect. Money Laundering Claims Voorhees further wrote that…

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Bitcoin Dealer Charged with International Money Laundering

Category: Bitcoin, Crime, News, Regulation

Bitcoin Dealer Charged with International Money Laundering

A 21-year-old Bitcoin dealer is currently being prosecuting for illegal money transmission and money laundering. According to the Department of Justice in the Southern District of California, Jacob Burrell Campos was arrested in August 2018, as he attempted to enter the United States from Mexico. He was ordered to be held without bail on Friday, August 17, 2018, at a…

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The U.S. Needs to Adopt Blockchain or Be Left behind

Category: Adoption, Blockchain, Crime, Finance, Regulation

The U.S. Needs to Adopt Blockchain or Be Left behind

As suspicion and excitement about blockchain technology circles the globe, the United States finds itself in need of a strategy to find itself on the right side of this revolution in tech. National Security Concerns While on the one hand, blockchain and cryptocurrencies can be used for quick transfers of wealth and the creation of a new generation of powerful…

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How Hackers Launder Their Illicit Cryptocurrency Funds

Category: Altcoins, Bitcoin, Crime, News

How Hackers Launder Their Illicit Cryptocurrency Funds

Cyber-attacks on exchanges, ICO hacks, and crypto-demanding ransomware are an unfortunate but regular occurrence in the cryptocurrency space. As a result, cybercriminals manage to amass a substantial amount of cryptocurrencies from their illicit activities. According to a report released by Malware Bytes, there was a 90 percent increase in such attacks in 2017. Most of these hackers demanded their ransom…

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Bitcoin Exchange Bits of Gold to Share Data with Israeli Tax Authorities to Prevent Money Laundering

Category: Altcoins, Bitcoin, Business, News, Regulation

Bitcoin Exchange Bits of Gold to Share Data with Israeli Tax Authorities to Prevent Money Laundering

Cryptocurrency exchange Bits of Gold and the Israeli Tax Authority have joined hands to fight against money laundering via digital assets in the country. Local news outlet Calcalist reported on July 5, 2018, the agreement between the two entities as Israel seeks to curb any illicit money laundering via cryptocurrencies while maintaining a decisive stand for the volatile asset class….

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Polish Government Appeals Citizens to Not Panic over Cryptocurrency Regulations

Category: Altcoins, Bitcoin, Crime, Finance, News, Regulation

Polish Government Appeals Citizens to Not Panic over Cryptocurrency Regulations

Announcements of a cryptocurrency investigation or taxation are usually met with backlash from the cryptocurrency community. While crowd psychology is difficult to predict, the government of Poland has a simple appeal for those jumping on the hysteric bandwagon- don’t panic. No Reason for Panic According to a report on Finance Magnates, both mainstream and local media in Poland have propagated…

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Israel Citizen Charged With Money Laundering, Used Bitcoin

Category: Bitcoin, Crime, News, Tech

Israel Citizen Charged With Money Laundering, Used Bitcoin

Halmi Git was charged Monday for credit card fraud of 1 million NIS and 31 million NIS of money laundering through bitcoin. 800 Cards, 20,000 Transactions   Git obtained his funds through running illicit forums, sharing and selling credit card details for over a decade. Over 800 credit cards were affected in over 20,000 transactions, resulting in nearly $3,000,000 of…

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Australian Government Set to Ban Cash Transactions Over $10,000, an Opening for Cryptocurrencies

Category: Business, Commentary, Finance, News, Regulation

Australian Government Set to Ban Cash Transactions Over $10,000, an Opening for Cryptocurrencies

The Australian government is looking to curb money laundering practices by introducing cash payment limits. In the May 8, 2018, federal budget unveiling, authorities made clear their intentions to tackle this menace by making it illegal to carry out cash payments exceeding $10,000. The new cash limit could also encourage the use of cryptocurrencies in the country. $50 Billion of…

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