Canadian Court orders transfer of 420 Bitcoin held by ICO founder, during Court hearing

On Friday, a Québec Court ordered the founder of an illegal ICO, Dominic Lacroix, to transfer $3.7 million worth of Bitcoin during a Court hearing and threatened him with incarceration if he did not immediately do so. Lacroix created the Plexcoin ICO which is the subject of an enforcement action by the SEC. According to [...]

Operation Dark Gold – arrest of 35 darknet vendors using digital currencies for illegal drug trafficking and commerce

The US Department of Justice, Homeland Security Investigations (HSI), the Secret Service, and the DEA  announced the arrest and pending prosecution of more than 35 darknet vendors across the country after a year-long investigation dubbed Operation Dark Gold. US federal law enforcement seized more than $20 million in Bitcoin and other digital currencies, 100 illegal [...]

Court in China approves Blockchain as a source of evidence

A Court in China has ruled that Blockchain technology can be used to provide evidence in litigation in a first-of-its-kind decision. The litigation involved the ownership of intellectual property, where a claim of IP was recorded on the Blockchain. The Hangzhou Court of the Internet in China’s Zhejiang Province ruled that information stored on the [...]

Granny did it –> millions allegedly seized from banks, PayPal and in Bitcoin & IOTA in European drug bust

According to a statement by Europol, police in Austria and Spain seized €4.5 million in Bitcoin and IOTA as part of a bust of a transnational criminal organization that manufactured and trafficked LSD and laundered the proceeds of crime. The story is a little weird. How the police seized the digital currencies is unknown but [...]

US Issues sanctions against Venezuela’s ICO – the Petro Coin

Executive Order  President Trump issued an Executive Order imposing economic sanction on the initial coin offering (“ICO“) by the Government of Venezuela, called the Petro coin (the “Petro ICO“). The Executive Order makes it illegal to engage in transactions, dealings or financings in connection with the Petro ICO, which would include buying, selling, trading, marketing, [...]

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. Bitcoin Consumer payments and ways of transferring value in Canada and globally have shifted over the last several decades from paper-based media, [...]

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 darknet Bitcoin marketplace shut down; operated from Canada

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 darknet. AlphaBay was ten times larger than Silk Road, when it was taken down in 2013. AlphaBay was a Canadian darknet illegal drug marketplace with servers in Canada, [...]