Silk Road Hacker Sentenced to a Year in Prison for Wire Fraud

Silk Road Hacker Sentenced to a Year in Prison for Wire FraudOn April 14, 2023, the Department of Justice (DOJ) for the Southern District of New York revealed that the hacker responsible for the Silk Road marketplace breach had been sentenced to a year in prison for wire fraud charges. James Zhong stole more than 50,000 bitcoin from the darknet marketplace (DNM) in September 2012. DOJ […]

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US Government Remains a Top Bitcoin Holder With Seized Stash Valued at $5.6 Billion

As of March 25, 2023, the U.S. government held 205,515 bitcoins worth $5.6 billion, which is approximately 1.06% of the circulating supply, according to current statistics. The cache of bitcoins is a result of three forfeitures that began in 2020. Glassnode’s on-chain data reveals that on March 9, about 9,860 bitcoins worth roughly $269 million […]

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Crypto Exchange Bitzlato Restores Access to User Funds

Crypto Exchange Bitzlato Restores Access to User FundsRussia-linked cryptocurrency exchange Bitzlato has begun processing withdrawals of digital assets belonging to its customers. The trading platform was shut down in an operation carried out by law enforcement agencies in the U.S. and Europe alleging that it had been used to launder dirty money. Bitzlato Allows Withdrawals After Staying Offline for Weeks Users who […]

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FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy Proceedings

FTX Debtors Seek Dismissal of Turkish Entities in Chapter 11 Bankruptcy ProceedingsFTX debtors have filed a motion with the court requesting to dismiss its Turkish subsidiaries from the Chapter 11 bankruptcy proceedings. The defunct crypto exchange’s lawyers believe dismissing the entities “is in the best interests” of creditors, and FTX debtors do not believe Turkish authorities “or any liquidator” in the country will cooperate with officials […]

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Despite Criminalizing Mining, Abkhazia Uncovers Another Crypto Farm

Despite Criminalizing Mining, Abkhazia Uncovers Another Crypto FarmEven after introducing fines and criminal liability for cryptocurrency mining, Abkhazia continues to find underground facilities for digital currency extraction. This week, law enforcement officials have confiscated dozens of mining devices from an illegal crypto farm. Abkhazia Shuts Down Crypto Farm, Seizes Mining Hardware Police in Abkhazia have closed down another crypto mining installation in […]

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Finland to Donate Millions of Dollars From Sale of Seized Bitcoin to Ukraine

Finland to Donate Millions of Dollars From Sale of Seized Bitcoin to UkraineThe government of Finland is discussing supporting Ukraine with part of the money from the liquidation of millions of dollars worth of cryptocurrency seized in crime investigations. Finnish authorities want to sell the bitcoins soon and say they couldn’t come up with a better idea for the proceeds. Finland Selects Brokers to Sell $75 Million […]

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International Operation Disrupts Ransomware Group Netwalker by Tracing Cryptos With the Help of Blockchain Analysis

International Operation Disrupts Ransomware Group Netwalker by Tracing Cryptos With the Help of Blockchain AnalysisIn collaboration with Bulgarian authorities, the U.S. Department of Justice (DOJ) disrupted a well-known ransomware gang’s infrastructure. Law enforcement seized their servers and traced the illicit funds with the help of blockchain forensic analytics via Chainalysis. US Authorities Seized Over $454,000 Worth of Cryptocurrencies Per the U.S. Department of Justice’s announcement, the coordinated action took […]

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Darknet Giant Darkmarket Shut Down, Alleged Operator Arrested

Darknet Giant Darkmarket Shut Down, Alleged Operator ArrestedThe authorities in seven countries and Europol have jointly taken down Darkmarket, one of the largest darknet marketplaces. The action was taken after the marketplace’s alleged operator was arrested in Germany. Authorities Shut Down Darkmarket Europol announced Tuesday that darknet marketplace Darkmarket has been taken down. The announcement details: Darkmarket, the world’s largest illegal marketplace […]

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Chinese Police Seize Thousands of Miners, Arrest Dozens of Scammers

Chinese Police Seize Thousands of Miners, Arrest Dozens of ScammersIn the last couple of days, Chinese media have reported on police forces in one province of the vast Asian country seizing close to 7,000 mining rigs using stolen electricity and in another province arresting 72 multi-level marketing scheme operators for alleged fraud. Also Read: Chinese Regulators Question 8 Crypto Companies in Shenzhen Police Seize […]

The post Chinese Police Seize Thousands of Miners, Arrest Dozens of Scammers appeared first on Bitcoin News.

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