money laundering

The criminal entity that stole $1.4 billion worth of Ethereum (CRYPTO: ETH) from cryptocurrency exchange Bybit has laundered roughly 30% of the hacked funds. What happened: The hacker has washed about 145,065 ETH, worth $360.92 million, in five days since the hack, according to data from Spot On...

Editor’s note: This story has been updated with comments from NetEase. NetEase Inc’s (NASDAQ:NTES) NetEase Games, one of China's leading gaming companies, is facing a corruption scandal. According to reports from Bloomberg Law, the company's General Manager Xiang Lang, along with...

Toronto-Dominion Bank (NYSE:TD) agreed to pay approximately $3.09 billion in fines to U.S. authorities after pleading guilty on Thursday to money laundering-related charges in an ongoing case brought by federal prosecutors, who accused the Canadian bank of essentially making it easy for criminals...

The Federal Bureau of Investigation (FBI) has arrested two people suspected of stealing and laundering over $230 million in Bitcoin (CRYPTO: BTC). What Happened: Malone Lam and Jeandiel Serrano were taken into custody on Wednesday night, according to a press release by the U.S. Department of...

Charles Schwab Corporation (NYSE:SCHW) shares fell by over 4% in after-hours after Toronto-Dominion Bank (NYSE:TD) reduced its stake in the Texas-based stock broker. It also announced that it is setting aside a further $2.6 billion to cover potential fines related to deficiencies in its anti-money...

Influential investor and CEO of Gerber Kawasaki Wealth, Ross Gerber, has expressed skepticism over the blame often placed on cryptocurrencies in the face of regulatory concerns. What Happened: On Monday, Gerber took to X, formerly Twitter, to share his views on the ongoing debate around...

The alleged owner of the darknet narcotics marketplace Incognito Market, Rui-Siang Lin, has been arrested and charged in the U.S. for running a multimillion-dollar illegal narcotics operation. What Happened: Lin, a 23-year-old Taiwanese national, was arrested at the John F. Kennedy Airport in New...

The U.S. Justice Department has accused an American woman of being involved in a scheme that allegedly helped Kim Jong Un‘s North Korea fund its nuclear weapons program. The scheme involved more than 300 U.S. companies hiring foreign nationals with North Korean connections for remote IT work...

Senators Chuck Grassley (R-IA) and John Cornyn (R-TX) joined a chorus of criticism against state-legal marijuana markets and the pending cannabis banking reform legislation. Their remarks are part of the ongoing debate surrounding marijuana policy, which will likely shift following Tuesday's...

In a move to further regulate the digital asset industry, Singapore has broadened its regulatory framework to encompass the custody of tokens and additional firms involved in fund transfers. What Happened: The Monetary Authority of Singapore (MAS) announced on Tuesday that the changes to the...

Leading cryptocurrency exchange, KuCoin saw a massive $1 billion in crypto withdrawals over the past 24 hours, coinciding with a notable decrease in the exchange’s assets. What Happened: Arkham Intelligence data highlighted KuCoin exchange balance at $4.7 billion, down from more than $6...

Cybercriminals are increasingly using cross-chain bridges to launder money, with one report from Chainalysis highlighting a significant surge in such activities. In 2023, the amount of cryptocurrency received by bridge protocols from illicit addresses jumped to $743.8 million, up from $...

Aliaksandr Klimenka, a central figure in the dismantled BTC-e cryptocurrency exchange, has been apprehended and indicted by U.S. authorities for his supposed role in several illegal activities. What Happened: The Department of Justice (DOJ) has detained and charged Belarusian-Latvian entrepreneur...

Tether (CRYPTO: USDT) plays a critical role in facilitating a "parallel banking system" utilized by organized crime groups. What Happened: According to the United Nations (UN), USDT has become a favored payment method for criminal activities, particularly in the illegal gambling sector in...

In a landmark case for the cryptocurrency industry, Damian Williams, the U.S. Attorney for the Southern District of New York, has announced the guilty plea of Shakeeb Ahmed, who hacked DeFi protocol Nirvana Finance and one other cryptocurrency exchange. Williams calls this the first-ever conviction...