Tagged: crypto crime

June 25, 2026 @ 8:19 am By Omar Faridi  |  

Chainalysis has noted that on June 22, 2026, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) took decisive action against financial networks aiding the Islamic State of Iraq and Syria (ISIS). Chainalysis also mentioned that the agency designated three individuals and… Read More

June 20, 2026 @ 12:52 pm By Omar Faridi  |  

Two brothers from Texas have admitted their roles in a brazen armed robbery that left a Minnesota family held captive at gunpoint for hours while more than $8 million in cryptocurrency was stolen from them. On June 18, 2026, Isiah Angelo Garcia, 25, and Raymond… Read More

June 18, 2026 @ 6:54 pm By Omar Faridi  |  

Chainalysis has indicated that Brazil has solidified its position as Latin America’s leading cryptocurrency hub, drawing significant attention from both legitimate users and illicit operators. From July 2024 to June 2025, the country processed an estimated $318 billion in on-chain cryptocurrency transactions, representing about one-third… Read More

June 13, 2026 @ 3:16 pm By Omar Faridi  |  

A recent collaborative probe has shed new light on Russia’s sophisticated sanctions-evasion strategies, highlighting the role of digital assets in a financial setup known as the A7 network. Blockchain intelligence firm TRM Labs joined forces with the Open Source Centre to scrutinize this system, drawing… Read More

May 9, 2026 @ 12:17 pm By Omar Faridi  |  

CertiK pointed out that wrench attacks—brutal physical assaults aimed at forcing cryptocurrency owners to surrender private keys or digital assets—have evolved into a sophisticated, transnational criminal enterprise. These incidents blend open-source intelligence gathering, social engineering, and outright violence, including kidnappings and extortion (along with other… Read More

April 30, 2026 @ 1:00 am By Omar Faridi  |  

The US Justice Department announced that a 22-year-old resident of Newport Beach, California, was sentenced April 24 in federal court in Washington, D.C., to more than five years behind bars for his central role in cleaning dirty money from one of the largest social-engineering fraud… Read More

April 27, 2026 @ 4:54 pm By Omar Faridi  |  

Elliptic has indicated that financial institutions have long maintained strong controls against money laundering, fraud, and sanctions violations. Yet the rise of cryptocurrencies introduces new pathways for these same threats, moving funds across borders and blockchains in seconds rather than days. Legacy monitoring tools designed… Read More

April 14, 2026 @ 9:38 pm By Omar Faridi  |  

Blockchain intelligence firm TRM Labs has played a key role in Operation Atlantic, a coordinated international effort that resulted in the freezing of more than $12 million in illicit funds and the identification of over 20,000 victims across multiple countries. The week-long operation, which wrapped… Read More

April 12, 2026 @ 9:04 pm By Omar Faridi  |  

The Federal Bureau of Investigation (FBI) highlighted just this past week the significant growth of online scams fueled by cryptocurrency and artificial intelligence, revealing that these sophisticated schemes drained nearly $21 billion from US victims last year alone. The FBI’s 2025 Internet Crime Complaint Center… Read More

April 1, 2026 @ 8:20 am By Omar Faridi  |  

Federal authorities have unveiled charges against ten executives and employees from four cryptocurrency market-making companies in what officials describe as a coordinated international effort to combat deceptive trading practices in the digital asset sector. The indictments, handed down by grand juries in San Francisco and… Read More

March 29, 2026 @ 7:52 pm By Omar Faridi  |  

In a concerning case that unfolded earlier this week, the co-founders of CoinDCX—one of India’s cryptocurrency exchanges—found themselves in police custody over allegations of a ₹71.6 lakh fraud. Sumit Gupta and Neeraj Khandelwal were arrested in Bengaluru by officers from Thane’s Mumbra police station and… Read More

March 29, 2026 @ 2:36 pm By Omar Faridi  |  

In a decisive step announced on March 26, 2026, the UK government has imposed sanctions on Xinbi, a prominent Chinese-language online platform that functions as a key enabler of cryptocurrency-fueled fraud operations across Southeast Asia. The Foreign, Commonwealth and Development Office (FCDO) described Xinbi as… Read More

March 23, 2026 @ 9:16 pm By Omar Faridi  |  

TRM Labs has noted that federal officials in North Carolina have confiscated more than $61 million in stablecoin USDT tied to one of the most sophisticated and damaging online fraud schemes targeting everyday investors. TRM Labs also mentioned that the action, disclosed recently by the… Read More

March 15, 2026 @ 9:20 am By Omar Faridi  |  

TRM Labs noted that authorities have detained John Daghita, who used the online handles “John” or “Lick,” in connection with the alleged theft of digital assets from wallets controlled by the United States government. TRM Labs pointed out that the operation unfolded on the Caribbean… Read More

March 13, 2026 @ 8:34 am By Omar Faridi  |  

CertiK has pointed out that cryptocurrency ATM scams have evolved into one of the fastest-growing threats in the digital asset space. According to blockchain security firm CertiK’s latest Skynet analysis, total losses from these schemes reached $333.5 million in 2025 alone—a dramatic escalation fueled by… Read More

March 2, 2026 @ 1:12 pm By Omar Faridi  |  

Chainalysis indicated that in 2025, the ransomware sector transformed into a sophisticated, linked network encompassing access points, supporting systems, and cash-out mechanisms, moving beyond standalone breaches. Chainalysis also pointed out that despite a surge in reported incidents and escalating average demands, the total value transferred… Read More

February 22, 2026 @ 1:14 am By Omar Faridi  |  

A recent development that has raised fresh concerns about integrity within Malaysia’s law enforcement. Authorities have taken 12 police officers into custody over allegations of orchestrating a brazen extortion scheme targeting Chinese nationals and their cryptocurrency holdings. The case, which unfolded in the affluent state… Read More

February 20, 2026 @ 12:00 pm By Omar Faridi  |  

Mexican drug cartels, long reliant on bulky cash piles from fentanyl and other narcotics sales, are rapidly pivoting to digital assets for cleaning their illicit profits. A Bloomberg Businessweek investigation reveals how a decentralized, gig-economy-powered network has emerged to handle these transactions, leaving US and… Read More

February 13, 2026 @ 4:49 pm By Omar Faridi  |  

In a recent development in the ongoing battle against international financial fraud, a U.S. federal judge has handed down a 20-year prison term to Daren Li, a 42-year-old man holding dual citizenship in China and St. Kitts and Nevis. The sentence, delivered in absentia in… Read More

February 13, 2026 @ 2:08 pm By Omar Faridi  |  

In the ecosystem of digital finance, cryptocurrencies are increasingly entangled with serious crimes. According to a recent report from blockchain analytics firm Chainalysis, transactions tied to these illicit activities spiked dramatically in 2025, rising by 85% compared to the previous year and amounting to hundreds… Read More