FBI, Ukrainian law enforcement, seize 9 crypto exchange domains for money laundering allegations
Hello Deep Dives platform! It's a beautiful day to share news and discuss about some crypto cybercrimes issues and how the law enforcement agencies are trying to reduce the issues of money laundering and other crypto related crimes. Good morning!
It's usually said that don't store your crypto in centralized exchanges (CEx). This is because of the rampant issues of money laundering and fraudulent activities ongoing in internet related platforms.
One funny thing about crypto fraud and money laundering is that they're aided and abated by most centralized exchanges (CEx) companies or some linked tech companies that manipulate sites for their selfish gains.
Nine digital currency exchanges involved in aiding and abetting cybercriminals domains have been seized by the United States Federal Bureau of Investigation (FBI) and Ukrainian law enforcement.
This information was released by the FBI Detroit Field Office and the National Police of Ukraine on May 1, after they both conducted a collaborative (court-authorized) investigations that led to the shout down of these digital currency exchange companies.
These virtual digital currency exchange that were shout down and seized include 24xbtc.com, 100btc.pro, pridechange.com, trust-exchange.org and bitcoin24.exchange. These virtual digital currency exchanges offers users one digital currency exchange or the other and these exchanges have flaunt rules and regulations that guides money laundering by aiding and abetting cybercriminals and cyber fraudsters move money from one place to another without proper scrutiny.
FBI noted the exchanges that offered services in English and Russian, featured lax" Anti-Money laundering measures and collected little Know Your Customer Information or none at all.
These rogues actually serves as an avenue for cybercriminals to operate and since they aren't licensed, it gives more opportunities to cybercriminals to use them in order to lauder money, which makes them aiders and abetter of the alleged crimes.
According to the FBI, anyone who comes to make use of these site will meet a notice from the exchange companies that the sites are no longer in use.
For me, this is a good measure to crackdown cybercriminal activities operational in the cryptoverse, although proper investigations should be made to avoid shouting down innocent exchange sites.
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Including Binance o Crypto.com?
The biggest criminals! Yes! Cz deserves charges for ftx and the steemit hive situation!
Federal prison for CZ....
I was thinking pretty much the same... I mean, it looks suspicious to me his relations with the FTX thing.. No one says anything, but it's there, we all saw it. Simply undeniable.
Prison for cz! Regulations for crypto need to be reasonable!
It is a debatable premise, dear @ganjafarmer. While cryptocurrencies are used for obscure purposes, they are the most decentralised and effective object of anonymity and independence in terms of money... Although, on the other hand, regulation as to how and where to use these cryptos is more than necessary... Maybe I will do a post on this topic in the near future. Good contribution you've left here, my friend. Take care of yourself.
Awesome work once again really appreciate your writing.
No kidding... Wow!
Ok.
Excellent post so I'm absolutely going to vote this and I'm going to share it as well.
You totally need to do your tags better. Great news article that should be in the crypto news! Wow!