U.S. and Allies Disrupt Garantex Crypto Exchange in Major International Crackdown

Authorities in the United States, Germany, and Finland have disrupted Garantex, a cryptocurrency exchange accused of facilitating money laundering for transnational criminal networks, including terrorist organizations. The Justice Department announced the operation, which involved seizing domain names and freezing $26 million in illicit funds. https://twitter.com/DOJCrimDiv/status/1898030839201402882 Garantex Administrators Indicted A federal indictment in the Eastern District of…

March 7, 20250Comments

ByDaniel Nwokolo

News

FINTRAC Issues Alert on Crypto’s Role in Opioid Money Laundering Amid Growing Concerns

Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) issued an urgent warning on January 23, urging businesses in the cryptocurrency sector to be more vigilant in detecting transactions linked to opioid-related money laundering. Notably, the advisory comes amid growing concerns over the increasing use of digital currencies, such as bitcoin and ether, by criminal organizations. FINTRAC…

January 24, 20250Comments

ByDaniel Nwokolo

Nine Charged in U.S. Crypto Laundering Tied to Drug Cartels

Federal authorities have charged nine individuals with participating in a cryptocurrency laundering scheme tied to drug cartels, according to the U.S. Department of Justice (DOJ statement). Accordingly, the indictment alleges that the group facilitated the laundering of drug proceeds using digital assets, enabling cartels to move illicit funds across borders. Meanwhile, the charges were announced on…

November 22, 20240Comments

ByDaniel Nwokolo

News

Spanish Police Hits Hard on Bitcoin ATMs After Being Used to Fund Drug Traffickers

In the mid of July 2019, Bloomberg published a stunning report which indicated that Spanish LEAs are quite concerned regarding the fraudulent use of Bitcoin ATMs. To be very specific, the local forces pointed out an array of glitches in Europe’s AML provisions, which ultimately facilitate the people from the underworld to carry out their…

August 19, 20190Comments

ByAzeem Saifi

Bitcoin News

Analysis On Recent Money Laundering Cases Involving Cryptocurrencies

One of the risks associated with cryptocurrencies, is their potential in being used as a tool for money laundering. Only an insignificant percentage of the market uses crypto for this purpose, yet there are growing concerns. With time, this has led to the creation of numerous regulatory frameworks meant to discourage crypto use for illicit activities like this, including…

March 8, 20190Comments

ByDaniel Dob

News

Curated blockchain and cryptocurrency news – Week 47

This week we are looking at some very interesting developments in the crypto sector, and if you want a brief overview of the most important parts, you are reading the right article. The latest news show a certain maturity which has been lacking in the crypto industry, with celebrities Floyd Mayweather and Khaled being officially…

December 5, 20180Comments

ByZoran Spirkovski

Bitcoin News

US Feds Use Bitcoin-Laundering Sting to Bust Dark Web Traffickers

The U.S. Department of Justice (DoJ) has arrested more than 40 individuals suspected for selling illicit goods on dark web marketplaces. Following the arrests, a total of $23.6 million worth of weapons, drugs and digital currencies have been seized. The operation has been based on what the DoJ has referred to as "the first nationwide…

June 28, 20180Comments

ByDaniel Dob

Altcoins Bitcoin Technology

States Increase Action To Combat Crypto Money Laundering

Since the earliest days of the blockchain movement, governments have recognized the potential for cryptocurrencies to be used for illegal activities. In fact, whereas states have been very slow to accept crypto for legitimate economic purposes, they have paid significant attention to its criminal use. Recently money laundering has become a priority for law enforcement,…

May 22, 20180Comments

ByTrevor Smith