South Korea has announced sanctions against 15 individuals and one entity from North Korea involved in cybercrimes, including large-scale cryptocurrency heists. The move comes amid rising concerns about North Korea’s use of cyber operations to fund its weapons programs and evade international sanctions. Related Reading: South Korea Should ‘Quickly Institutionalize’ Crypto, Stock Exchange Chief Says […]
Two central figures behind the cryptocurrency Ponzi scheme known as IcomTech have been sentenced to substantial prison terms, according to a recent press release by the US DoJ. The scheme defrauded thousands of investors out of millions of dollars, leaving financial devastation in its wake. The sentencing marks a major legal conclusion to one of […]
As the crypto market continues to offer lucrative opportunities for investors, it has also attracted malicious actors who consistently devise new schemes to defraud inexperienced or beginner investors. The latest press release by the US Department of Justice (DoJ) highlighted a recent example of such fraud. The report revealed that an Ohio man fell victim […]
A 20-year-old Singaporean, Malone Lam, has requested a “speedy trial” in a US court, following charges of stealing roughly $230 million in cryptocurrency. Lam appeared before a judge in Washington, D.C., to discuss evidence disclosure during the pre-trial proceedings. Along with his alleged accomplice, Jeandiel Serrano, Lam is accused of using sophisticated social engineering tactics […]
A 41-year-old dual citizen of China and St. Kitts and Nevis, Daren Li, has pleaded guilty to one count of conspiracy to commit money laundering utilizing crypto. The charge involves a complex scheme that allegedly laundered millions of dollars linked to crypto investment scams. The US Department of Justice, in a press release uploaded on November […]
The dark and more ominous side of the crypto world was on display again this week when a 29-year-old foreign national became an unwitting victim in one of Kyiv, Ukraine’s brutal crimes. This incident sheds light on the risks associated with cryptocurrency holdings and exposes the severe consequences of theft in this digital age. Related […]
In a notable shift, June witnessed a significant reduction in cryptocurrency losses due to hacks, down by 54.2% from the previous month, according to the latest data from PeckShield. This downturn in cyber theft indicates an evolving space in the crypto security domain, even as the industry grapples with ongoing challenges. Related Reading: Crypto Catastrophe: […]
In recent findings, an investigation by the United Nations has illuminated the extent to which North Korea has leveraged cyber activities such as crypto hacks to “bolster” its economy and further its weapons development programs. The report spans from 2017 to 2023 and details a series of cyberattacks targeting crypto-related firms. It highlights the approach […]