CryptoCrime

An international law enforcement operation called Operation RapTor has led to the arrest of 270 individuals across 10 countries and the seizure of over $200 million in cash and cryptocurrencies. It marks the largest enforcement action to date under the U.S. Justice Department’s J-CODE initiative, targeting criminal groups operating through the darknet.

🔹 Global Drug Network Dismantled
Led by U.S. authorities in cooperation with Europol and international agencies, the operation targeted illegal marketplaces and drug networks in Austria, Brazil, France, Germany, the Netherlands, South Korea, Spain, Switzerland, the UK, and the USA.
Seized in the raids:

🔹 Over two metric tons of drugs

🔹 144 kilograms of fentanyl-laced substances

🔹 180 firearms

🔹 Cryptocurrencies worth hundreds of millions of dollars
“This historic seizure of weapons, lethal drugs, and illicit funds will save lives,” said U.S. Attorney General Pam Bondi. “Criminals can no longer hide behind screens or seek refuge on the dark web.”

🔹 Cryptocurrencies and Stablecoins Fueling Illicit Trade
Authorities are increasingly concerned about the use of cryptocurrencies and stablecoins — particularly USDT — in global drug trade and money laundering.
🔹 A report by Chainalysis revealed that at least $5.5 million in stablecoins was sent by money mules to Chinese suppliers of fentanyl precursors.

🔹 According to TRM Labs, 97% of surveyed Chinese chemical suppliers accept crypto payments, showing that stablecoins have become essential infrastructure for trafficking networks.
These blockchain patterns mirror the behavior of individuals already prosecuted under Operation RapTor.

🔹 Key Figures and Markets Busted
The operation also brought down several high-profile darknet actors:
🔹 Behrouz Parsarad, an Iranian national, was indicted in Ohio and sanctioned by the U.S. Treasury’s OFAC. He operated Nemesis Market, a darknet platform for selling opioids and hiding profits in crypto wallets.

🔹 Rui-Siang Lin, operator of Incognito Market, one of the largest online drug markets, pleaded guilty in December to drug trafficking, money laundering, and selling misbranded drugs.

🔹 Telegram Closes Down $27 Billion Black Market
This week, Telegram shut down Haowang Guarantee, described by blockchain firm Elliptic as the most active crypto-powered black market ever seen online. The platform traded:
🔹 Laundered USDT

🔹 Fake identification documents

🔹 Tools for industrial-scale online scams
It served as a hub for what Elliptic called a “cyber slavery-based scam economy”, often exploiting victims trapped in fraudulent digital networks.

🔹 Cryptocurrencies Under Growing Scrutiny
Also this week, in California, Pedro Inzunza Noriega and his son Pedro Inzunza Coronel were indicted for fentanyl trafficking and crypto-based money laundering. They are allegedly linked to a faction of the notorious Sinaloa Cartel and laundered profits via Chinese crypto brokers.

Conclusion
Operation RapTor shows that while cryptocurrencies enable financial innovation, they also facilitate global organized crime. Although blockchain provides transparency, its tools are being abused at scale. This global enforcement sends a clear message: the digital asset space is not beyond the reach of the law.

#CryptoNewss , #CyberSecurity , #CryptoCrime , #StaySafe , #darknet

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

A U.S. federal court on Friday handed down a prison sentence to a Danvers resident found guilty of operating an unlicensed Bitcoin exchange. Authorities say the platform, which operated without regulatory oversight, laundered over $1 million—some of it linked to scammers and drug dealers.

💰 Bitcoin for Cash – No Oversight, No Rules
The accused, Trung Nguyen—known online as “DCS420”—ran a company called National Vending from 2017 to 2020. It offered customers the ability to exchange cash for Bitcoin, charging a fee—but without any official registration with FinCEN or compliance with federal anti-money laundering (AML) laws.
Instead of transparency, Nguyen concealed the true nature of his operation by presenting it as a vending machine business and using encrypted messaging to communicate with clients. According to the U.S. Department of Justice, he deliberately made financial tracking difficult and broke large cash deposits into smaller chunks under the $10,000 reporting threshold.
🔍 “He used encrypted messaging apps, leveraged technologies that obscured Bitcoin transactions, and spread cash deposits over consecutive days or across branches to avoid detection,” federal prosecutors stated.

🧾 Ties to Fraud and Drug Trade
Investigators revealed Nguyen received hundreds of thousands of dollars from clients—including a meth dealer and victims of romance scams. While his platform functioned like a crypto exchange, it operated in total regulatory darkness—making it a convenient tool for criminal actors.
Nguyen was sentenced to six years in federal prison, followed by three years of supervised release. He was also ordered to forfeit over $1.5 million deemed proceeds from illegal activity.

⚠️ Crypto Industry Faces Heightened Scrutiny
This isn’t an isolated case. U.S. authorities continue to crack down on illicit practices within the crypto sector. Earlier in May, Celsius Network founder Alex Mashinsky was sentenced to 12 years for defrauding users of billions of dollars in one of crypto’s most infamous collapses.
Mashinsky was convicted of deceiving investors and embezzling over $48 million. Thousands of people lost their life savings. The Nguyen case serves as a clear reminder that, despite the decentralized promise of crypto, U.S. law enforcement is watching—and acting.

#CryptoCrime , #MoneyLaundering , #CryptoNewss , #Regulation , #CryptoFraud

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On Wednesday night, a mysterious message appeared on the Ethereum blockchain — a direct mockery aimed at one of the most prominent crypto investigators. The sender? A hacker linked to the recent massive data breach at Coinbase, which compromised the accounts of over 69,000 users and may cost the exchange hundreds of millions of dollars.
The taunt, simply reading "L bozo", was embedded in a transaction and meant to ridicule the investigator. The hacker even included a link to a viral meme video featuring NBA Hall of Famer James Worthy smoking a cigar, escalating the provocation.

💰 $44.9 Million Laundered Through THORChain
But the trolling wasn’t all. On Tuesday, the attacker began liquidating stolen assets, converting 17,800 ETH into DAI stablecoins — worth roughly $44.9 million — using THORChain, a decentralized cross-chain trading protocol.
📉 The swaps occurred at an average ETH price of $2,528.

💼 One major swap involved 9,080 ETH for $22.8 million in DAI.
Using THORChain allowed the hacker to bypass centralized exchanges, complicating tracking efforts and signaling a new level of sophistication in crypto laundering tactics.

🔓 What Happened at Coinbase?
Coinbase confirmed that the breach took place in December 2024, but it wasn’t disclosed publicly until May 2025. The hackers gained access to sensitive personal data of around 69,000 users.
Soon after, they allegedly demanded $20 million in Bitcoin as ransom, threatening to leak the stolen data on the dark web. Coinbase refused to pay and instead offered the same amount as a reward for information leading to the attackers.

📉 Financial Fallout: Coinbase in Crisis
The breach has severely damaged Coinbase’s reputation. On Wednesday, its stock (COIN) closed down 0.92% at $258.97, continuing a 36% monthly decline.
Security experts claim the exchange ignored prior warnings of suspicious activity as early as December, a failure that now haunts its image and user trust.

🛡️ Binance and Kraken Also Targeted
Coinbase wasn’t the only target. Binance and Kraken also faced recent social engineering attempts, where attackers posed as users and tried to bribe support agents.
Binance’s AI systems successfully flagged and blocked the suspicious messages. Kraken reported no customer data losses either, thanks to strong internal protocols.

🔚 A Glimpse Into the Future of Crypto Crime?
This case is more than a breach — it's a bold show of power by a cybercriminal who’s fluent in DeFi and unafraid to mock those chasing him. With advanced laundering tactics and an open taunt of blockchain sleuths, we may be witnessing the next evolution in crypto-based crime.
Coinbase may recover financially — but the reputational scars will be harder to erase.

#HackerAlert , #CryptoSecurity , #CryptoCrime , #CyberSecurity , #CryptoNewss

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The hidden cost of decentralization in a world without cash
As Bitcoin ($BTC ) hits record highs and decentralized finance continues its meteoric rise, a new reality is emerging alongside the crypto dream: when you are your own bank, you are also your own vault, your own security system—and sometimes, your own bodyguard.
The appeal of crypto has always been freedom—instant, anonymous transfers with no need for banks, branches, or middlemen. But that freedom comes with risk. A sharp rise in violent crimes against crypto holders is forcing a reckoning. So far this year, at least 23 physical attacks on crypto executives and investors have been recorded globally—almost quadruple the figure from the same period last year. These aren’t abstract cybercrimes. They are brutal, personal, and terrifying: attempted kidnappings in broad daylight, home invasions, and gruesome extortion attempts involving physical mutilation.
One recent case saw an executive targeted on a Paris street in a midday abduction attempt. Others haven’t been as lucky. Severed fingers used to unlock biometric wallets, families held hostage, and mounting pressure on governments to act—these are the modern echoes of the Wild West, or perhaps the 18th-century highwayman.

A Vanishing Target: The Decline of Traditional Robbery
Criminals follow opportunity. And as society becomes increasingly cashless, traditional targets like banks have lost their appeal. Bank robberies in many developed nations have plummeted by more than 80% since the 1990s. Closed branches, electronic vaults, and digital transactions mean the days of walking into a bank with a mask and a gun are virtually over.
We’ve embraced the convenience of digital wallets, contactless payments, and phone scans. But in doing so, we’ve moved the target. Now, the assets sit in devices we carry, accounts we control, and passwords we protect—or fail to.

The New Criminal Playbook
Hackers are no longer the only threat. The modern crypto criminal blends digital sophistication with old-school brutality. They track targets on social media, identify high-value wallets, and use messaging apps to coordinate physical attacks. Even luxury watch thefts have become more prevalent, with over £1.6 billion ($2.1 billion) worth of timepieces stolen in the UK alone.
So-called “wrench attacks” have emerged as a terrifyingly low-tech but effective method. The name comes from a meme: “Why hack when you can just hit someone with a wrench until they give up their password?” What once sounded like a joke has become an alarming reality.

Securing the Unsecured
Deterrence will be key. Some police forces are getting better at tracking and arresting attackers, and ransom recovery is improving. But overloaded prison systems and lenient sentencing dilute the consequences for perpetrators. Meanwhile, the crypto community is divided on how to respond.
Some argue for more anonymity, stronger privacy tools, or even the right to bear arms. In countries like France, where gun ownership is tightly controlled, that’s a controversial proposition. Others are hiring private security firms and taking drastic steps to protect themselves and their families. Salvatore Furnari, CEO of Topaz Group, says he’s increasingly advising crypto clients on full-spectrum security protocols. “The crypto world is going through what banks went through decades ago,” he says.

And some investors? They’re simply cashing out. As one tech executive put it: “I sold everything. It just wasn’t worth the stress anymore.”

The Inevitable Debate: Liberty vs. Safety
This growing tension also raises broader questions about the future of finance. Could increasing violence push regulators to centralize crypto infrastructure for the sake of public safety? History suggests it’s possible. In Italy, during the so-called “years of lead,” the government froze financial assets of kidnap victims to deter ransom payments. For many in the crypto world, such a policy would be unthinkable—an attack on everything decentralization stands for.

But if crypto continues to blur the lines between financial freedom and physical danger, we may be forced to rethink our assumptions. The dream of being your own bank is intoxicating. But unlike banks, individuals have no vaults, no security teams, and no insurance against violence.

As this new financial frontier expands, it’s not the blockchain that needs the most urgent upgrade—it’s personal safety.
#CryptoCrime

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Big promises, bigger deception. Braden Karony, former CEO of the once-hyped crypto project SafeMoon, has been found guilty by a U.S. federal jury of running a fraudulent scheme that misled investors and diverted millions of dollars for personal gain.

⚖️ Guilty on All Charges
After a 12-day trial, a federal court in New York found Karony guilty of conspiracy to commit securities fraud, wire fraud, and money laundering.
He now faces up to 45 years in prison, and has also been ordered to forfeit assets worth over $2 million, including luxury homes, vehicles, and cryptocurrency holdings.

💸 How the Scheme Worked
SafeMoon, launched in 2021 with a 10% transaction tax model, quickly rose to fame — boasting a market cap of over $8 billion at its peak. But behind the scenes, the truth was far from what was advertised.
🔹 Karony and his team claimed that half the fees would be locked in a liquidity pool and the other half redistributed to token holders.

🔹 In reality, they retained access to the liquidity funds, siphoned them off, and used them for personal luxury.

🔹 They also traded SafeMoon tokens privately, even during peak prices, despite publicly denying any such activity.

🏎️ Crypto-Funded Teslas and Mansions
According to court evidence, investor funds were used to purchase:
🔹 luxury cars like an Audi R8, a Tesla, and custom trucks

🔹 high-end properties

🔹 transfers routed through anonymous wallets and unhosted exchange accounts
Authorities estimate that Karony personally pocketed over $9 million in crypto assets. The case was investigated by the FBI, IRS, and other federal agencies.

⚠️ SafeMoon – From Skyrocketing Token to Cautionary Tale
What began as a promising crypto project became a textbook example of how fast hype can turn into legal fallout.
Federal prosecutors said the case deeply damaged public trust in digital assets and highlighted the urgent need for greater oversight in the crypto industry.
One co-defendant, Thomas Smith, has pleaded guilty and awaits sentencing. Another, Kyle Nagy, remains at large.

📌 The Takeaway
SafeMoon was marketed as a “safe journey to the moon” — but it ended in a brutal crash landing, complete with FBI raids, IRS investigations, and a federal conviction. The message to the crypto world is clear: transparency and accountability are not optional — they’re essential.

#Safemoon , #CryptoFraud , #CryptoNewss , #CryptoScamAlert , #CryptoCrime

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

The Australian Federal Police (AFP) has confiscated over $4.5 million worth of assets from a Queensland man suspected of involvement in the 2013 theft of 950 Bitcoin from a French cryptocurrency exchange. The operation marks a major milestone in an ongoing investigation into cybercrime and illicit crypto proceeds.

Waterfront Property, Luxury Car, and Nearly 25 BTC Seized
According to the Criminal Assets Confiscation Taskforce (CACT) led by the AFP, the seized assets include:
🔹 a waterfront property in Beachmere, Queensland

🔹 a black 2019 Mercedes-Benz sedan

🔹 24.99 BTC
The assets were forfeited to the Commonwealth under civil asset forfeiture laws, which allow for seizure without a criminal conviction.

Suspicious BTC Transactions Sparked the Investigation
Codenamed Operation Gouldian, the case began in September 2018 after Luxembourg authorities tipped off AUSTRAC, Australia's financial intelligence agency, about suspicious Bitcoin movements.
Further investigations revealed the suspect was living lavishly without legitimate income. He had previously been convicted of hacking a U.S. gaming company. No criminal charges have been filed specifically in relation to the 2013 crypto theft—yet authorities proceeded under proceeds of crime legislation.

AFP: Crime Profits Fuel More Crime
“Criminals are driven by greed at the expense of honest Australians and businesses,” said AFP Commander Jason Kennedy.

“Illicit profits often fund further criminal activity, which is why we work closely with our CACT partners to strip offenders of those proceeds and redirect them to benefit the community.”

Confiscated Funds to Be Reinvested
The seized assets are being handled by the Australian Financial Security Authority, and proceeds will be transferred to the Commonwealth Confiscated Assets Account. From there, the Attorney-General can allocate them to:
🔹 crime prevention programs

🔹 law enforcement efforts

🔹 initiatives combating drug trafficking and related social harm

Another Case of Crypto Crime Funding Luxury
This case joins a growing list of incidents where crypto theft profits were used to fund lavish lifestyles. Just last week, the U.S. Department of Justice charged 12 individuals in a $263 million crypto fraud scheme, revealing that illegal gains had been spent on luxury vehicles, jewelry, and designer goods.

#CryptoCrime , #bitcoin , #CyberSecurity , #CryptoFraud , #DigitalAssets

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Despite a global slowdown in cryptocurrency transactions on darknet markets, Russia’s crypto underground is thriving. According to the latest findings from blockchain analytics firm Chainalysis, cryptocurrency activity on Russian darknet platforms surged by 68%, even as global darknet sales dropped by 15% year-over-year.

Kraken Surges While Others Collapse
The report highlights that Kraken, now the largest darknet marketplace focused on Russia, has quickly risen to dominance after the takedown of the infamous Hydra marketplace in April 2022.
🔹 In 2024, Kraken handled $737 million worth of cryptocurrency, marking an increase of nearly 68% year-over-year.

🔹 In contrast, rival platform Mega — once a primary drug supplier to other darknet markets — saw its inflow fall by more than 50%.

Global Darknet Crypto Activity Declines
Globally, darknet crypto activity fell by 15% in 2024, largely due to ongoing efforts by international law enforcement and the increasing transparency of blockchain transactions.
📉 These pressures have forced many darknet operators to reconsider the tools they use — particularly a shift away from Bitcoin, which is known for its traceability.

Monero Takes the Lead on the Darknet
According to Chainalysis, many darknet platforms have now switched to using Monero (XMR) exclusively.
🔐 Monero is a privacy-focused cryptocurrency designed for maximum anonymity, making it significantly more difficult to trace transactions or identify participants. This privacy feature has made it the preferred currency for those aiming to stay off the radar of global authorities.

Summary
While global darknet markets are shrinking, Russia's scene is expanding rapidly. Kraken has taken the lead, and Bitcoin is losing ground to more private coins like Monero.
The Chainalysis report serves as a reminder that, although blockchain activity is transparent, privacy is still achievable — especially when the right technologies are used. That continues to present a major challenge for international regulators and law enforcement agencies.

#CryptoCrime , #darknet , #CyberSecurity , #Monero , #CryptoSecurity

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The U.S. Department of Justice has expanded its indictment in one of the largest crypto crime cases to date. Twelve new individuals have been charged in connection with a cybercrime gang that allegedly stole 4,100 Bitcoins — worth around $263 million — primarily from a single victim.

From Online Gaming Friends to a Coordinated Cybercrime Ring
According to investigators, the group began operating in October 2023, starting as a group of friends who bonded over online games. But their hobby turned dark as they evolved into an organized extortion network. Most of the accused — aged between 18 and 22 — hail from California and used online aliases such as “Goth Ferrari” and “The Accountant.”
Several suspects have already been arrested, while two others are believed to be hiding in Dubai.

Hacks, Break-ins, and Stolen Hardware Wallets
The DOJ describes a wide range of criminal tactics:
🔹 Hacking databases and stealing credentials

🔹 Impersonating customer support agents

🔹 Calling victims to carry out social engineering attacks

🔹 Breaking into homes to steal hardware wallets
One of the most striking incidents occurred on August 18, 2024, when lead defendant Malone Lam allegedly tricked a victim into handing over more than 4,100 Bitcoins.
In another case, Lam reportedly hacked into a victim’s iCloud account to track their location, while accomplice Marlon Ferro broke into the victim’s home to steal physical wallets.

Sophisticated Laundering with Peel Chains and Mixers
To cover their tracks, the group used advanced money laundering methods:
🔹 VPNs and crypto mixing services

🔹 “Peel chains” — where stolen crypto is moved through dozens or hundreds of wallets, peeling off small amounts at each step
The defendants are now facing charges under the RICO Act, as well as wire fraud and money laundering charges.

Flashy Lifestyles: From Crypto to Clubs, Cars, and Private Jets
The group didn’t hold back when spending the stolen funds. According to the DOJ:
🔹 They ran up nightclub tabs as high as $500,000 in a single night

🔹 Bought 28 luxury cars worth $3.8 million

🔹 Splurged on designer handbags, watches, and high-end fashion

🔹 Rented luxury villas and private jets using fake identities
The gang operated like a well-oiled machine — knowing how to launder money, hide digital footprints, and live like celebrities while doing it.

#CryptoCrime , #CryptoNewss , #BlockchainSecurity , #CyberSecurity , #DigitalAssets

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“