CryptoCrime

Vincent Anthony Mazzotta Jr., also known by aliases such as “Vincent Midnight” and “Director Vinchenzo,” has pleaded guilty nearly two years after his indictment for orchestrating a $13 million cryptocurrency fraud. The elaborate scheme involved fake trading bots powered by artificial intelligence and a fabricated government agency used to further deceive victims.

Sophisticated Crypto Scam
Mazzotta operated platforms like Mind Capital and Cloud9Capital, which falsely promised high returns through automated AI-based crypto trading bots. In reality, the operation functioned as a pyramid scheme. Instead of investing clients’ funds, Mazzotta and his accomplices splurged on private jets, luxury hotels, rental mansions, and personal security.
To hide the trail of stolen money, the group laundered funds using crypto mixers. When the platforms began collapsing, they vanished without notice, leaving investors with no access to their funds.

Round Two: A Fake Government Agency
In a desperate bid to regain investor trust, Mazzotta and his team created a fictitious government entity called the “Federal Crypto Reserve” (FCR), claiming it would investigate the missing funds. Victims were charged new fees for these false services—effectively falling prey to a second layer of fraud.
Later, when one of his associates was indicted in 2022, Mazzotta began obstructing justice: he destroyed evidence, manipulated documents, and falsified business records linked to Runway Beauty Inc.

Facing Justice
Mazzotta has now pleaded guilty to two charges—money laundering and conspiracy to obstruct justice. He faces up to 15 years in federal prison. A sentencing date has not yet been set.

More Scams Unfold
His case isn’t isolated. In June 2025, Dwayne Golden was sentenced to 97 months for orchestrating a $40 million crypto Ponzi scheme through platforms such as EmpowerCoin and ECoinPlus. Golden also tried to obstruct justice by destroying evidence and misleading federal investigators.
U.S. authorities have recently stepped up enforcement against crypto fraud. The Department of Justice is actively pursuing asset forfeiture in hopes of partially reimbursing victims.

#CryptoFraud , #MoneyLaundering , #CryptoCrime , #CryptoSecurity , #CryptoNews

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A former executive of a Chinese tech company has been sentenced to 14 years and 6 months in prison for embezzling company funds worth 140 million yuan ($19.5 million) and laundering them through cryptocurrency mixers and offshore exchanges.
The man, identified by the surname Feng, was responsible for approving incentive programs on a popular short video platform. Prosecutors say he conspired with external vendors to submit fake claims and redirected corporate funds to accounts under his control, which were then converted into Bitcoin and other digital assets.

🔹 Sophisticated Crypto-Based Money Laundering
The funds were funneled through eight foreign exchanges and concealed using coin mixing tools—services that anonymize blockchain transactions by pooling and redistributing digital assets. However, investigators managed to trace the transactions and recover over 90 BTC, worth approximately $11 million at current prices.
Authorities emphasized that despite increased transaction complexity, mixing tools do not guarantee complete anonymity. Using advanced forensic analysis, including pattern recognition, timestamp correlation, and statistical clustering, officials were able to partially reconstruct the flow of funds and link foreign crypto exchanges to domestic bank accounts.

🔹 Growing Risks in China’s Tech Industry
Feng was one of seven individuals convicted in the embezzlement scheme. The others received prison sentences ranging from three to over 14 years. The case was highlighted in a recent report from prosecutors in Beijing’s Haidian District, which analyzed 1,253 corruption cases in tech companies between 2020 and 2024.
The report points to a growing trend: a shift from traditional bribery to more sophisticated fraud involving cryptocurrency, data misuse, shell companies, and digital laundering. Sectors such as e-commerce and artificial intelligence were flagged as high-risk due to weak internal oversight.
Chinese law enforcement agencies are increasingly turning to blockchain analysis tools to investigate cryptocurrency-related crimes and enforce anti-money laundering laws. Firms like Salus Security, Beosin, and SlowMist are helping authorities track crypto movements and uncover digital fraud with growing precision.

#CryptoCrime , #MoneyLaundering , #china , #DigitalAssets , #CryptoSecurity

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#CryptoCrime
Country music icon George Jones’ widow claims her ex-boyfriend stole millions in crypto and cash from a home safe. Most of the XRP has been recovered, but over $1 million remains missing.
Nancy Jones, the widow of country music legend George Jones, was allegedly scammed out of $17 million worth of XRP, according to a new report from Nashville media outlet WKRN.
George Jones Widow Files Theft Report Over Stolen Crypto
The July 25 report states that Jones’ 58-year-old ex-boyfriend, Kirk West, was taken into custody at Nashville International Airport on Thursday, July 24.

WKRN-reviewed documents allege that Jones filed a theft report on Wednesday, July 23, claiming West stole $400,000 in cash and approximately 5,534,307 XRP coins after breaking into a safe in her home.
Jones had kicked West out of their Tennessee residence on June 28 and called her granddaughter to help secure her valuables after she allegedly discovered he had cheated on her.
As of Tuesday afternoon, the stolen XRP was valued at over $17 million. However, Jones and her attorneys were able to recover most of the missing cryptocurrency—except for nearly 400,000 tokens, worth approximately $1.2 million.
West faces a Class A felony charge for theft of more than $250,000, and his bail has been set at $1 million.
Kirk West’s Fraudulent History Revealed
West previously pleaded guilty to bank fraud in 2026, a case in which his legal fees were paid by Jones.
The two met shortly after George Jones’ death in 2013, when West toured a home Nancy Jones was selling.
Reports say she later learned West was penniless and homeless before allowing him to move in with her in September 2013.
They began a romantic relationship the following month.
West is scheduled to appear in court on October 23 in connection with the alleged theft of Jones’ cash and cryptocurrency.

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A man on trial in Germany has escaped criminal charges after allegedly stealing $2.9 million (€2.5 million) in cryptocurrency 💰 through an unauthorized transfer — all thanks to a series of unusual legal loopholes 🕳️⚖️.
🏛️ The Courtroom Drama
The case, heard by the Braunschweig Higher Regional Court (OLG), involved the alleged theft of 25 million unspecified tokens. According to court documents 📄, the defendant had helped the victim set up a crypto wallet and, during the process, reportedly gained access to the victim’s 24-word seed phrase 🔐.
He then allegedly transferred the tokens from the victim’s wallets into two other wallets beyond the victim’s control 🕵️‍♂️💼.

🧾 Legal Loophole: Crypto Isn’t a “Thing”?
Under Section 242 of the German Criminal Code (StGB), theft is defined as the “taking of another’s movable property.” But since cryptocurrencies like Bitcoin and Ethereum have no physical form 📉, German law doesn’t recognize them as “things.” That meant the traditional theft charge didn’t apply, according to German newspaper Heise.

💻 No Fraud, No Falsification
Other potential charges also fell flat:
■“Computer fraud” didn’t apply because the blockchain transaction couldn’t be clearly tied to unauthorized data manipulation. 💻🧩
■“Falsifying evidentiary data” was rejected due to “a lack of identifiability of the issuer.”
■Even “data alteration” didn’t stick — the court ruled that since the modification was executed on the blockchain, it was technically done by the network itself 🌐🔁.

👨‍⚖️ So… No Criminal Charges?
While the accused may have sidestepped criminal prosecution, he could still face civil action 🏛️— a likely outcome considering the $2.9 million involved.

🇩🇪📉 What Does This Mean for German Crypto Law?
A lawyer from WINHELLER, a German law firm specializing in crypto assets, told Decrypt that:
> “Legislative amendments are highly likely as the ruling creates a massive protection gap where millions in crypto can be stolen without criminal consequences.”
The legal expert predicts this will “force urgent reforms” 🔧 to expand theft laws to include digital assets and create “specific crypto-related criminal provisions” 🧾⚠️. #CryptoCrime #CryptoScamSurge

In a story that reads like a Southern drama, Nancy Jones—the widow of iconic country music star George Jones—has allegedly been robbed of more than $17 million worth of cryptocurrency. The accused? Her former partner Kirk West, who was arrested last Friday at Nashville International Airport.

🔹 From Comfort to Crime: A Relationship Gone Wrong
Nancy met Kirk West shortly after her famous husband passed away in 2013. Initially expressing interest in buying her house, West soon became romantically involved with the grieving widow. Over time, he moved in and, according to Nancy, she funded his entire lifestyle—from luxury vacations to expensive cars.
She later discovered that West was not the wealthy and successful man he claimed to be, but someone with no money at all. In 2016, he was even convicted of bank fraud and placed under house arrest—at her residence.

🔹 Crypto “Expert” Emerges
During his house arrest, West allegedly reinvented himself as a crypto guru. He persuaded Nancy to invest in various cryptocurrencies, including XRP, Ethereum, Dogecoin, Shiba Inu, and Stellar. Back then, XRP was worth just a fraction of a dollar—today, it represents a multimillion-dollar portfolio.

🔹 Safe Cracked, Crypto Vanished
Investigators say West recently broke into two safes in Nancy’s home and stole $400,000 in cash along with a Ledger wallet containing over 5.5 million XRP tokens. Just two days later, Jones kicked him out of the house—but the damage had already been done.
West was later arrested at the Nashville airport and charged with theft. According to Nancy’s legal team, most of the stolen XRP was successfully recovered, although approximately 483,000 tokens remain unaccounted for.

🔹 From Tiny Investment to Massive Theft
When West and Jones first invested in XRP in 2016, the stash was worth about $35,000. But in 2025, XRP hit a new all-time high of $3.65 per token, bringing the total value of the stolen crypto to over $17.4 million.

#xrp , #Cryptoscam , #CryptoCrime , #CryptoFraud , #CryptoCommunity

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Beijing is reeling from one of the most sophisticated corruption scandals in recent years. Eight individuals have just been sentenced for embezzling over 140 million yuan (approximately $20 million) from a tech company operating a popular short-video platform. The stolen funds were laundered using cryptocurrencies—specifically Bitcoin—and now, the perpetrators are heading to prison.

🔓 It All Started Inside the Company: Bonus System Manipulation
The entire scheme originated within the company, where an employee named Feng oversaw the approval of service providers and bonus payouts. With access to sensitive systems and internal policies, he exploited this power to create loopholes in company guidelines and shared them with two external collaborators—Tang and Yang.
Together, they submitted fake bonus claims that appeared legitimate. Real workers received no rewards; instead, the money was funneled to fake companies that existed only on paper.

💸 Laundering Through Bitcoin and International Exchanges
Once the funds were drained from the company, phase two began. The group set up a network of bank accounts and shell companies. They shuffled the money through these entities before converting it to cryptocurrency.
They used eight different international crypto exchanges and employed an advanced method called a “coin mixer”—an anonymizing tool that scrambles crypto transactions, making the origins of the funds nearly impossible to trace. This “digital washing machine” operated across borders, with some funds eventually looping back to accounts secretly controlled by the perpetrators themselves.

📊 Digital Forensics Played a Key Role
The case was cracked by Li Tao, a prosecutor specializing in tech crime in Beijing’s Haidian District. Investigators used advanced data analytics and blockchain forensics to trace the transactions, link fake documents, and follow the money trail.
“We recovered over 90 Bitcoins,” Li stated. While this accounts for only a portion of the stolen funds, it confirmed the gang’s laundering techniques and the path of the money.

⚖️ Harsh Sentences: 14 Years in Prison for Digital Embezzlement
A Beijing court described the case as a “model example of internal corporate corruption with a crypto twist.” Feng, the mastermind, received the longest sentence—14 years and 6 months. The rest of the group received sentences ranging from 3 to 14 years. All were found guilty of occupational embezzlement and manipulation of corporate assets.

#CryptoCrime , #MoneyLaundering , #bitcoin , #CryptoFraud , #CryptoSecurity

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David Schwartz has rejected Forbes’s argument defending SBF’s FTX conviction.
The Ripple executive states that good deeds cannot erase proven fraud charges.
GENIUS Act passage has now sparked debate over SBF’s regulatory advocacy efforts.
Ripple Chief Technology Officer David Schwartz has criticized a Forbes article that questioned Sam Bankman-Fried’s criminal conviction, calling the defense “nonsense.” The article suggested the former FTX CEO received unfair treatment given his efforts to establish cryptocurrency regulations.
The article discussed SBF’s Washington lobbying activities aimed at creating stable regulatory frameworks for digital assets. The piece claimed that his time in the capital sought necessary regulatory approval for the positive development of crypto, rather than personal gain.
💥Schwartz Rejects Fraud Justification Arguments
Schwartz directly addressed the Forbes article, emphasizing that any positive impact from SBF and FTX doesn’t erase the clear evidence of fraud. The Ripple executive stressed that criminal actions remain unacceptable, no matter what else someone has accomplished.
Coin Center’s Neeraj Agrawal shared the Forbes article on Twitter and questioned the article’s logical premise. The tweet caused controversy from the cryptocurrency community about standards for industry leader accountability.

The Forbes article also identified FTT tokens as vehicles for sharing profits and not as conventional currency. This translates to customer funds amounting to speculation on SBF’s crypto proficiency. Further, this interpretation sought to redefine abuse of customer funds as a valid investment strategy.
Schwartz agrees with the jury verdict that found SBF guilty of using money from one business to cover losses in another. The Ripple CTO asserted that established legal standards apply even in the face of innovation or regulatory lobbying.
💥Regulatory Advocacy Cannot Override Criminal Conduct
The Forbes piece referenced the recent passage of crypto-friendly legislation like the GENIUS Act as justification for SBF’s regulatory approach. The argument here was that his Washington lobbying was visionary in securing crypto’s institutional future.
But Schwartz’s reply suggests that well-regarded work in regulation does not exempt one from accusations of fraud. The executive’s position maintains attempts at advocacy separate from criminal misappropriation of clients’ money.
Forbes offered remarks regarding potential presidential pardons, conjecturing SBF’s vision made his actions acceptable at the expense of legal consequences. On this interpretation, market adjustments are the predominant source of SBF’s legal difficulties and not willful malfeasance.
Schwartz’s dismissal highlights the prevailing industry sentiment that distinguishes legitimate innovation from fraudulent practices. The Ripple executive’s position emphasizes that crypto advancement requires both ethical conduct and regulatory engagement.

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#CryptoCrime $XRP

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The U.S. Department of Justice (DOJ) is under scrutiny after a court file involving a crypto fraud case tied to executives at MoonPay was briefly inaccessible to the public. Federal prosecutor Jeanine Pinto claims it was an “administrative error,” not an intentional cover-up. According to her, there was never a formal request to seal the case entirely—the aim was only to redact the company's name to protect victims.

🕵️‍♂️ Scammer Posed as Trump Ally and Defrauded Investors
The case centers around a Nigerian fraudster who impersonated real estate mogul Steve Witkoff, co-chair of Trump’s 2017 Inaugural Committee, to trick two victims out of $250,000 worth of Ethereum.
📧 He used a typographical trick—replacing the lowercase “l” with an uppercase “I” in the domain “inaugural” to send emails from steve_witkoff@t47lnaugural.
According to the complaint, the victims included MoonPay CEO Ivan Soto-Wright and U.S. CFO Mouna Ammari Sialy. Though their names were redacted, blockchain transaction references and wallet addresses matched publicly known data linked to them, making their identities traceable.

🔐 DOJ Says Sealing the Case Was Unintentional
Pinto stated that DOJ never asked to seal the entire file—only to publish an edited version of the complaint with company names removed. Still, the case file was completely inaccessible on Monday, raising transparency concerns.
“Once we realized the mistake, the file was unsealed within hours,” Pinto told NOTUS.

“Court officials admitted that we never asked for it to be sealed.”

📄 Were MoonPay Executives Prioritized in Fund Recovery?
Critics argue the issue goes beyond transparency—they allege that the DOJ prioritized recovering stolen funds for MoonPay executives while other victims were left behind.
MoonPay has past ties to Trump-linked crypto projects, having served as the exclusive trading partner for the $TRUMP memecoin, and its executives reportedly boasted about the token’s success.
“If you’re a Trump-friendly crypto player, the DOJ will actively try to recover your funds,” said Mark Hays from Americans for Financial Reform.

“Other victims don’t get that same treatment.”

🗂️ Unusual Level of Secrecy Raises Red Flags
A former federal prosecutor who recently left the D.C. U.S. Attorney’s Office anonymously stated that sealing an entire case without a formal motion is extremely rare. Typically, only sensitive parts of a file—such as medical records or national security materials—are kept sealed.

🧾 Summary
The U.S. Department of Justice finds itself under fire over its handling of a crypto fraud case involving MoonPay executives, a fake Trump associate, and concerns about preferential treatment for elite victims. While the DOJ describes the sealing as a mere clerical error, critics see troubling connections between power, politics, and selective justice.

#DOJ , #CryptoFraud , #TRUMP , #CryptoCrime , #CryptoNews

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#CryptoCrime
Eli Regalado, a self-described online pastor, and his wife, Kaitlyn, are accused of orchestrating a scheme centered on INDXcoin.
A Denver-based online pastor and his wife have been indicted on 40 criminal counts tied to a cryptocurrency fraud scheme that defrauded hundreds of faith-driven investors out of more than $3 million.
Key Takeaways:
A Denver pastor and his wife were indicted for defrauding over 300 investors through INDXcoin.
Authorities say the couple spent $1.3 million of investor funds on personal expenses.
Crypto investors lost over $2.2 billion to hacks, scams, and breaches in the first half of 2025.
Eli Regalado, a self-described online pastor, and his wife, Kaitlyn, are accused of orchestrating a scheme centered on INDXcoin, a token they created and sold between January 2022 and July 2023.
Prosecutors say the couple targeted members of their Christian network, encouraging them to invest in INDXcoin through the Kingdom Wealth Exchange—despite the token allegedly having “zero value.”
Denver DA Calls Pastor-Led Crypto Case a ‘Multi-Million-Dollar Scam’
Denver District Attorney John Walsh described the case as a “multi-million-dollar cryptocurrency scam.”
“These charges mark a major step forward in our work to hold the Regalados accountable for their alleged crimes and to bring a measure of justice to the victims,” Walsh said.
Authorities estimate that more than 300 people invested in the scheme, resulting in collective losses exceeding $3.3 million.
According to the indictment, the Regalados diverted at least $1.3 million of investor funds for personal use, including home renovations.
Eli Regalado reportedly told followers that “the Lord” had directed the couple to upgrade their home. Only a small fraction of the money was ever used to develop the INDXcoin project, investigators found.
The couple had previously been charged in January, when Colorado Securities Commissioner Tung Chan accused them of exploiting religious trust.
“We allege that Mr. Regalado took advantage of the trust and faith of his own Christian community,” Chan said at the time.
“He peddled outlandish promises of wealth… when he sold them essentially worthless cryptocurrencies.”

The case adds to a growing list of crypto-related frauds involving retail investors.
In May, the FBI arrested a New Zealand man accused of stealing $265 million in digital assets, allegedly spending the funds on luxury cars and high-end goods.
Authorities in Colorado say the Regalado case serves as a warning about the risks of mixing personal belief with financial promises.
Investigations were conducted by the Colorado Division of Securities and the Colorado Attorney General’s Office.
Crypto Hacks, Scams Cost Investors $2.2B in H1 2025: CertiK
Crypto investors lost over $2.2 billion to hacks, scams, and breaches in the first half of 2025, driven largely by wallet compromises and phishing attacks, according to CertiK’s latest security report.
Wallet breaches alone caused $1.7 billion in losses across just 34 incidents, while phishing scams accounted for over $410 million across 132 attacks.
Two major incidents, including Bybit’s $1.5 billion hack in February and Cetus Protocol’s $225 million exploit in May, skewed the year’s losses upward, together accounting for nearly $1.78 billion.
Without these, losses align more closely with previous years at around $690 million.
Ethereum $ETH remained the primary target, suffering over $1.6 billion in losses across 175 events.
The report also pointed to rising sophistication of phishing schemes and ongoing risks from social engineering, urging crypto users to verify links, avoid suspicious sites, and use hardware wallets.

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Incident in Phuket: Crypto Debt Leads to Violent Robbery
Thai police have launched an investigation into two Russian nationals accused of assaulting and robbing their compatriot over a cryptocurrency debt. The incident occurred at a hotel in Karon, Phuket.
According to the local newspaper Khaosod, a 31-year-old man was attacked over a $120,000 debt linked to previous cryptocurrency transactions in Russia. The attackers, who were known to the victim, forced him to attempt unlocking his crypto wallet. When he refused, violence ensued.
Assault and Suspects’ Escape
One of the suspects, identified as Andrei, allegedly threatened to kill the victim if the debt was not paid. The victim was repeatedly punched, kicked, and eventually lost consciousness after being struck on the head. The attackers then stole $20,000 in cash and fled, leaving the victim tied up in the bathroom.
Investigators revealed that one suspect remained in Thailand, while the other, Dmitri, fled to Dubai. Arrest warrants have been issued, and Thai authorities are collaborating with immigration and police agencies to apprehend the suspects.
Cryptocurrencies as Targets of Violent Crime
Rising Value of Cryptocurrencies Attracts Criminals
The Phuket incident is part of a growing trend where cryptocurrencies play a role in severe criminal activities. The year 2024 saw numerous violent incidents linked to digital assets, ranging from kidnappings to extortion.
In July, a 29-year-old tourist in Kyiv was kidnapped and murdered as criminals attempted to seize his 3 bitcoins. Authorities described the event as a calculated plan that ended with the victim's death after the forced transfer of cryptocurrency failed.
Case in Costa Rica: Armed Robbery of Bitcoins
A similar case occurred in August on a beach in Costa Rica, where 11 Israeli tourists were robbed of a significant amount of bitcoins. The attackers, disguised as police officers, used firearms during the assault, raising concerns about the involvement of organized crime groups with police training.
Cryptocurrencies: Valuable Targets That Attract Danger
As cryptocurrencies grow in popularity, incidents of violence and crime associated with these digital assets are on the rise. This trend underscores the need for enhanced security measures and better protection for investors on a global scale.

#CryptoCrime , #Bitcoin❗ , #CryptoSafety , #cybercrime , #CryptoScamAlert

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