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Crypto scam launderer pleads guilty to role in $73M scheme

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A key figure involved in a $73 million cryptocurrency scam has pled guilty to charges of money laundering and conspiracy to commit fraud. The defendant, identified as a 38-year-old man from the United States, admitted to his role in laundering proceeds from a scheme that defrauded investors in various crypto assets. According to the U.S. Department of Justice, the fraud involved fake initial coin offerings (ICOs) and deceptive trading platforms that promised high returns but ultimately failed to deliver. The guilty plea marks a significant moment in the ongoing crackdown on cryptocurrency-related crimes.

The defendant was part of a larger criminal operation that exploited unsuspecting investors by promoting fake tokens and fraudulent ICOs. He utilized a complex network of wallets and exchanges to obscure the origin of the illicit funds, helping to transfer and conceal the stolen cryptocurrency. Prosecutors noted that the operation spanned several years, with the illicit proceeds funneled through international jurisdictions to avoid detection by law enforcement. The scheme is one of several high-profile cases that highlight the vulnerabilities within the crypto space.

The plea agreement, which was filed in a federal court, outlines the specific charges and details the defendant’s involvement in laundering over $73 million. As part of the settlement, he faces significant penalties, including a lengthy prison sentence, with the exact sentence to be determined at a later hearing. Authorities have stressed that the case is part of a broader effort to combat fraud and money laundering in the rapidly growing digital asset industry, with crypto exchanges and regulators working in tandem to detect and prevent such schemes.

Legal experts warn that while the conviction of individuals like this defendant sends a strong message, the underlying issues in the cryptocurrency sector remain. Without clear regulatory frameworks, bad actors will continue to exploit gaps in the system, putting investors at risk. The case serves as a reminder of the importance of due diligence and caution when participating in cryptocurrency investments.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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