The non-techie guide to the Blockchain, distributed ledger tech and Bitcoin

This guide to Bitcoin, Blockchain, distributed ledger tech, and digital currencies is taken from a collection of presentations, comments, speeches we’ve made at global conferences and articles written by us from 2012 to 2015. By Christine Duhaime The dangers of being in the Bitcoin space early on I’ve been in the Bitcoin space since 2012 and [...]

US to adopt national money laundering & terrorist financing strategy that includes risks from digital currencies

US President Trump signed new sanctions legislation into law on August 3, 2017, against Iran, Russia and North Korea, and at the same time, adopted a new national strategy to combat terrorist financing and money laundering. The legislation, “HR3364 – Countering America’s Adversaries Though Sanctions Act” is more than about sanctions. In large part, it’s [...]

BTC-e was the Bitcoin exchange for 95% of global ransomware extortions

According to tracing that was revealed this week at the Black Hat USA Conference, BTC-e was the Bitcoin exchange that serviced over 95% of all the ransomware extortion payments globally since 2014. Researchers wrote scripts that extracted payments to Bitcoin wallet addresses to determine what exchanges was used for extortion payments. The research also showed that [...]

US continues its take down of Bitcoin entities with indictment of foreign Bitcoin exchange that “banked” many global cyberattackers and processed $9B in payments

The US continued its take down of Bitcoin companies this week with the unsealing of an indictment against BTC-e and Alex Vinnik, and his arrest in Greece. The Indictment against Vinnik and BTC-e was obtained in January 2017, and was sealed until now so that he could be located internationally and arrangements made to effect [...]

Biggest illegal online dark net Bitcoin marketplace shut down; run by a Canadian who committed suicide rather than face US justice

The US DoJ has taken down what it calls the world’s largest criminal marketplace on the Internet called AlphaBay yesterday, which operated for over two years on the dark net. AlphaBay was over ten times larger than Silk Road when Silk Road was taken down in 2013. Like Silk Road, AlphaBay was used for trading of [...]

Silk Road owner arrested over money laundering charges amid allegations of ordering hit on man from Canada

Ross Ulbricht, allegedly the ‘Dread Pirate Roberts’ and owner of the website Silk Road, was arrested by the FBI in San Francisco today at a public library and his popular website was shut down. Silk Road was an Internet-based website that accepted bitcoin. Ulbricht was charged with money laundering conspiracy, computer hacking conspiracy and drug trafficking. [...]

Bitcoin and other digital currency transactions subject to Bank Secrecy Act in U.S.

The US Financial Crimes Enforcement Network (“FinCEN“) has issued its interpretive guidance on the applicability of digital (or virtual) currencies, the most popular of which is Bitcoin, to the Bank Secrecy Act (“BSA“). Pursuant to the Guidance, a person or entity that: (1) exchanges; or (2) administers digital currency or Bitcoin, is a money services [...]