Rain Exchange Hacker Launders ETH via Tornado Cash
This breach and subsequent laundering activity show the continued vulnerabilities faced by centralized exchanges, even those with strong security measures. The hacker responsible for the recent attack on the Rain crypto exchange has begun laundering stolen Ether through Tornado Cash, a popular mixing service. A blockchain security firm, PeckShield, has closely monitored the situation and identified the […]
UK Authorities Arrest Suspects for Running $1.2b Crypto Exchange
Two people were detained by the British FCA and Metropolitan Police Service for running a multi-billion crypto exchange. Two London residents who are suspected of running an illicit cryptocurrency exchange have been taken into custody by the Financial Conduct Authority (FCA) and the Metropolitan Police Service. The FCA stated in a news release on Thursday […]
Tornado Cash Developer Convicted of Money Laundering
Tornado Cash developer Alexey Pertsev was convicted of money laundering by a Dutch court and sentenced to five years and four months in prison. The conviction of cryptocurrency mixing protocol creator Tornado Cash’s creator, Alexey Pertsev, for money laundering, might have serious ramifications for others who create open-source software. At s-Hertogenbosch court on May 14, […]
EU AMLA to Establish HQ in Frankfurt Germany
Frankfurt, the financial metropolis of Germany, will serve as the headquarters (HQ) of the new Anti-Money Laundering Authority (AMLA) of the European Union. The organization will commence operations by the middle of 2025. Operating across borders or deemed high-risk, the AMLA will have the authority to regulate “high-risk and cross-border financial entities,” which includes cryptocurrency […]
CZ’s Fate Unknown as Binance Money Laundering Case Postponed
Changpeng Zhao, better known as CZ, the mastermind behind Binance, is facing a complicated situation. He pleaded guilty to failing to maintain an effective anti-money laundering program at Binance, the world’s largest cryptocurrency exchange, on November 21. As part of his guilty plea, he agreed to resign as CEO of Binance and pay a $50 […]