A Chinese-language crypto guarantee service known as Xinbi processed nearly $17.9 billion in on-chain transaction volume despite platform bans and enforcement actions, according to a new report from TRM Labs. The findings show how parts of crypto-enabled laundering infrastructure continue to adapt rather than disappear under regulatory pressure. TRM Labs
Crypto launderers now move away from centralized exchanges and lean on decentralized tools to move funds, as revealed by new research from blockchain analytics firm Chainalysis. This is a result of improved compliance measures on the big trading exchanges, which can identify and freeze malicious transactions more quickly. Current events
Origin of Stablecoins Stablecoins made their debut in 2014. It aims to combine the steady value of fiat currencies with the openness and flexibility of blockchain technology. The first of its kind, BitUSD, was introduced in July 2014 as a credit-backed stablecoin on the BitShares platform. Tether (USDT), which was
The US Treasury Department wants to ban the Cambodia-based Huione Group from having access to the American banking system. The Department also claimed that the Group helped a hacker group from North Korea in laundering cryptocurrency. On May 1, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) made a proposal
Crypto exchange eXch will stop offering its products and services starting from May 1 this year due to allegations of money laundering. The firm was accused of being involved in laundering the funds stolen from the recent $1.4B Bybit hack. As per its latest notice released on April 17, the
UK officials have frozen nearly $7.7 million (£6 million) worth of illicit crypto assets in one year. The crackdown follows new powers granted to law enforcement in April 2024. These powers allow the National Crime Agency (NCA) and police to freeze, seize, and destroy crypto linked to crime. The biggest
As per the latest report published by the NCA, multi-billion dollar money laundering networks were uncovered and 84 individuals were arrested as part of their operation. As per the blockchain analysis firm Chainalysis report, the NCA seized over 20 million Euros in cash and cryptocurrency as a result of its
The Washington D.C. court sentenced Roman Sterlingov — founder of Bitcoin Fog, the “darknet’s longest-running cryptocurrency mixer” — to 12 years and 6 months for laundering over 1.2 million BTC in “dirty money” on the darknet. Along with his prison term, the court imposed a $395.6 million ‘forfeiture money judgment’
Nigeria has withdrawn money laundering charges against Tigran Gambaryan, an executive at Binance. This decision comes as Gambaryan seeks medical treatment abroad, according to the government’s lawyer. The announcement occurred during a court session at the Federal High Court in Abuja on October 23. Gambaryan, a U.S. citizen, has been
A Nigerian court denied bail to Tigran Gambaryan, Binance’s Compliance Chief, despite his worsening health condition.The decision was handed down on October 11, 2024, following Gambaryan’s second bail plea. His legal team highlighted his medical condition, arguing that he requires urgent attention, but the court rejected the request. Gambaryan faces
