Money Laundering
‘Story of the Year:’ Feds Seize $3.6B Stolen Bitcoin In DOJ’s Largest Crypto Bust to Date
A Washington judge stopped a decision to grant bail to Ilya “Dutch” Lichtenstein and Heather Morgan, two people charged with conspiring to launder $4.5 billion (120,000 BTC) stolen in a 2016 hack of crypto exchange Bitfinex. “The Hash” panel discusses the latest in what “might be the story of the year.”
Judge Stays Release of Couple Suspected for Laundering $4.5B in BTC From 2016 Bitfinex Hack
A federal judge has halted the release of Ilya Lichtenstein and Heather Morgan, two individuals suspected of conspiring to launder $4.5 billion from the 2016 hack of crypto exchange Bitfinex. This comes as U.S. officials seized 94,000 BTC, worth over $3.6 billion tied to the hack. CoinDesk's Nikhilesh De discusses the latest in the Department of Justice's largest financial seizure ever.
US Treasury Department Warns of NFT Risk in Art-Related Money Laundering
In a study published Friday, the U.S. Department of the Treasury warned that non-fungible tokens (NFTs) may become a tool for money laundering in the high-value art market. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the latest crypto focus in Washington and the outlook for NFT-specific recommendations.
Fiat Remains Preferred Currency for Criminals Although Defi Protocols Are Becoming Popular Tools
As part of CoinDesk's Privacy Week, Avivah Litan, Vice President and Analyst at Gartner Research, discusses why cybercriminals can run, but can't hide in transparent cryptocurrency networks. Litan shares insights into criminal activity using fiat vs. crypto and the broader state of digital privacy. Plus, why have DeFi protocols become popular tools for money laundering. What's the one thing that criminals get wrong about crypto?
Crypto.com’s Stolen Ether Being Laundered via Tornado Cash
The $15 million in ether (4,600 ETH) stolen from Singapore-based Crypto.com is currently being laundered via Tornado Cash, an ETH mixing protocol, according to on-chain data. "The Hash" team discusses the latest hacking victim of 2022 and the revelations about the potential role of money laundering in mixing services.
UK Cops Seize Nearly $250M in Crypto Tied to Money Laundering
British police announced Tuesday they seized almost $250 million in crypto amid ongoing investigations into international money laundering. “The Hash” team discusses the potentially false narrative of crypto’s role in illicit activity. “Of all the transaction volume that cryptocurrencies have, only roughly 2% is used for criminal activity,” host Christine Kim said.
NSC Director: Biden Administration Hasn't Determined Holistic Policy Approach to Virtual Currency
Speaking at Consensus 2021, Carole House, National Security Council Director for Cybersecurity and Secure Digital Innovation, said the executive branch hasn't taken a position of banning or making virtual currency illegal, but it has said it has the same obligations as any other financial activity, including preventing terrorist financing and money laundering.
US Officials Arrest Alleged Operator of Bitcoin Mixing Service for Laundering $336M
U.S. officials have arrested the operator of bitcoin mixing service “Bitcoin Fog” on allegations of laundering nearly $336 million in bitcoin over 10 years. “The Hash” panel explains bitcoin mixing and the role of law enforcement in rooting out criminal crypto operations.
