China’s Supreme People’s Procuratorate comments on Blockchain-based evidence for Court purposes

China’s Supreme People’s Procuratorate, the highest national legal supervisory body in China (which reports to the National People’s Congress), published a commentary by a learned legal scholar on its official website on the use of Blockchain for Court evidentiary purposes yesterday, noting that for it to grow as a source of reliable evidence in Chinese [...]

A guy stole $2M in Bitcoin mining equipment, escaped from prison, jumped on a plane with the Prime Minister of Iceland and no one stopped him

Sindri Por Stefansson was recently sentenced to 4 1/2 years in prison in Iceland for masterminding the theft of $2M worth of Bitcoin mining machines. This is another one of those stories that only happens in the Bitcoin world. Mr. Stefansson was arrested in February 2018 in Iceland with several others, and ordered held in [...]

US identifies Canada as major money laundering country, and notes concern over its low prosecution rate

Canada once again a “Major Money Laundering” country The 2019 “International Narcotics Control Strategy Report” (INCSR) published on Friday by the U.S. Department of State identifies Canada once again as a “major money laundering country” along with a host of risky countries for financial crime. A “major money laundering country” is one whose banks and financial [...]

Vancouver ICO firm co-founders alleged to have defrauded investors of $30 million over EtherParty ICO

RCMP Investigation According to court filings in Canada, Kevin Hobbs and Lisa Chang, the two co-founders of ICO called EtherParty FUEL and an associated company, Vanbex, based in Vancouver, are allegedly under investigation by the Federal and Serious Organized Crime Division of the RCMP for, inter alia, fraud and are also under investigation by the Canada [...]

A guy says he gave $3M of Bitcoin to a stranger to sell in Hong Kong and, you guessed it, says he never saw it again

This is one of those stories that could only happen in the Bitcoin world. In June 2017, a guy named Nico Constantijn Samara, from the Netherlands, who owned over 1,000 Bitcoin worth US$3.1 million, travelled to Hong Kong to sell them to a stranger. When he arrived, he discovered that under Hong Kong banking law, [...]

Alleged drug dealer in Vancouver tied to Silk Road facing extradition

A Vancouver man, James Ellingson, is the subject of an extradition request by the US, based on charges that include money laundering and narcotics importation from the Southern District of New York. Ellingson was arrested in Vancouver on October 29, 2018, under an Extradition Act provisional warrant. According to the SDNY, Ellingson sold drugs on the darknet [...]

Vancouver, Venezuela, Crypto

According to this article in Vancouver, a Vancouver based charity called GiveCrypto.org, is sending, transferring or donating (perhaps all 3), digital currencies from the US (via Coinbase, a digital currency exchange) to people in Venezuela. The article does not say who receives the digital currencies in Venezuela, how they receive it or how much they [...]

World’s first bi-national government issued digital currency launched in Middle East

Saudi Arabia and the United Arab Emirates announced yesterday in Abu Dhabi that they have created and launched a joint new bi-national digital currency. The name of the coin has not been released, not the type, not the amount issued, nor its price per coin. According to the governments of both nations, the new Saudi [...]

Digital currency exchange CEO who spent customers’ Bitcoin settling with SEC and awaiting criminal sentencing

Exchange CEO Indicted The CEO of a digital currency exchange who pleaded guilty after being indicted in New York for, inter alia, selling Bitcoin to US residents illegally and then stealing it from them by removing it from the exchange’s pooled wallet, is awaiting sentencing for the criminal proceeding against him, and is also negotiating a [...]

Oxymonster sentenced to 20 years for money laundering and dark net drug sales

A foreign national from France, known on the dark net as OxyMonster, was sentenced to 20 years jail in the US for selling drugs such as fentanyl, online, and laundering the proceeds of crime. Gal Vallerius, 36, pleaded guilty to drug distribution and money laundering in Miami in June for selling cocaine, methamphetamine, fentanyl, oxycodone and [...]