Laundering

Elliptic Warns of Industrial-Scale Pig Butchering Scams Laundering Through Crypto

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Pig butchering, a form of romance fraud in which victims are groomed into sending money to fake crypto investment schemes, has grown into a multibillion-dollar industry, according to blockchain analytics firm Elliptic’s 2025 Typologies Report. The study points to increasingly organized methods of laundering stolen funds using practices that resemble professional financial operations. Elliptic’s investigators … Read more

KuCoin Faces $14M Canadian Action in Registration, Money Laundering Controls Dispute

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KuCoin is appealing a Canadian enforcement action in which the exchange was accused of failing to register as a money-services business and failing to maintain proper defenses against money laundering, a case that led to a penalty of more than $19 million ($14 million U.S.). That unusually large penalty from the Financial Transactions and Reports … Read more

Anti-Money Laundering Is The Stablecoin Use Case No One Talks About

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Opinion by: Debanjan Chatterjee, financial analyst The trajectory of the stablecoin industry is heavily influenced by warring factions on opposite sides debating possible criminal use. Stablecoin opposers point to transfers of illicit funds. Proponents argue that the transparent nature of blockchains can be used to detect such crimes.  There is a lack of awareness of … Read more

Jury Set to Begin Deliberations as Roman Storm’s Money Laundering Trial Draws to Close

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NEW YORK — A Manhattan jury will soon begin their deliberations in Roman Storm’s trial, deciding whether the Tornado Cash developer is guilty of helping hackers and other cyber criminals launder more than $1 billion in dirty money. Earlier in the day, the jurors heard closing arguments from both prosecutors and Storm’s defense team, who each … Read more

Samourai Wallet Devs Expected to Plead Guilty to Money Laundering Charges

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The co-founders of Samourai Wallet are expected to plead guilty to charges that, via their bitcoin mixing service, they helped hackers and other cyber criminals launder over $100 million in dirty money, according to Tuesday court filings. Both Keonne Rodriguez and William Lonergan Hill initially pleaded not guilty after they were arrested and charged with … Read more

Binance CEO Richard Teng Summoned in Nigeria Over Money Laundering Suspicions: Report

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Binance’s new CEO, Richard Teng, joined the company in November 2023 after its founder and former CEO Changpeng Zhao pleaded guilty in the US for violating money laundering laws. As the waters were seeming to settle around Binance’s internal turmoil, it’s new CEO also may have found himself in a similar situation. Nigeria’s House of … Read more

KuCoin Failed to Comply With Money Laundering Rules, Used for $9 Billion in Suspect Crypto Trades, US Says

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US prosecutors charged KuCoin, one of the world’s largest cryptocurrency exchanges, and two of its founders for failing to comply with American anti-money laundering rules. Since KuCoin’s inception in September 2017, the exchange “willfully failed” to establish and maintain a program to keep the platform from being used for illicit activity, including terrorist financing, federal … Read more

Binance Fined $4.4 Million in Canada for Violating Anti-Money Laundering Laws

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Binance has been fined by Canada’s anti-money laundering agency for violating the country’s anti money laundering laws. The largest crypto exchange in the world was previously probed by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) for flouting regulations last year. The action against the firm comes shortly after CEO Changpeng Zhao was … Read more

Bharat Web3 Association Calls for Teamwork in Building Ironclad Anti-Money Laundering Laws

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India’s crypto industry body, the Bharat Web3 Association (BWA) recently met with the stakeholders of India’s Web3 industry. The aim of this meeting was to open dialogues on the steps that could prevent the misuse of cryptocurrencies for unlawful activities like money laundering and terror financing. The BWA has called for a collaborative effort from … Read more

Tornado Cash Developer Sentenced to 64 Months in Prison on Charges of Laundering $1.2 Billion: Report

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The cryptocurrency sector and crypto entrepreneurs have often come under legal scrutiny in recent years. Former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison in March over charges of fraud, followed by Binance founder Changpeng getting a four-month sentence earlier this month over the exchange’s anti-money laundering activities. Now, Alexey Pertsev, the … Read more