Vancouver payment processor took US$147 million in proceeds of crime in Bitcoin, according to UK news site

According to an article published in the digital currency news website Cointelegraph, a Vancouver-based payment processor and digital currency exchange called CoinPayments, took in US$147 million in proceeds of crime. According to the article, the US$147 million was in Bitcoin and was proceeds from a fraudulent scheme run by a UK entity named Control-Finance Limited. […]

SEC files injunction against digital currency CEO who allegedly took money from consumers for a digital currency, made numerous material false representations on a radio show, including involvement of large advisory firm and defrauded the public

The US Securities and Exchange Commission (the “SEC“) filed for an injunction in Texas on March 16, 2020, against Robert Dunlap, Nicole Bowdler, the girlfriend of Dunlap, and a former Washington State Senator, David Schmidt, in connection with a digital currency they launched called Meta 1 coin (the “MetaCoin“) which raised US$4 million from the […]

US unseals money laundering indictment against owner of Bitcoin mixing service used by Canadian darknet site

Indictment for mixing service On February 13, 2020, the US government unsealed an indictment against Larry Dean Harmon, the alleged founder of a Bitcoin mixing Bitcoin service, and of a darknet search engine that hooked up with the now-defunct illegal Canadian Bitcoin darknet site called AlphaBay. The mixing service was called Helix and the darknet […]

UK Bitcoin drug dealer who imported illegal drugs from Canada on the darknet, sentenced to 8 years in jail

A UK man, Paul Johnson, was sentenced to eight years in jail in the UK for operating a darknet drug trafficking business from the attic of his home. In order to obfuscate what he was doing, he set up a company called “Labrador Tea Company” and used it to buy illegal drugs from Canadians in […]

Two crypto dudes who blew through US$4.5 million on a $22k salary, allegedly used customer funds to live in a mansion together, take a private jet, gamble at casinos and drive around in exotic fast cars, charged in US with money laundering

Two Bitcoin guys, one who called himself the “Krypto King”, were charged in Arizona with money laundering and wire fraud after an investigation by the US Secret Service found that they used US$4.5 million of money that belonged to customers to live a lavish lifestyle that included living in a mansion together, riding around in […]

Canadian CEO of Silk Road drug market who bragged that US law enforcement “don’t have sh*t on me”, nabbed and pleads guilty in the US

One of the kingpins of Silk Road, the online darknet drug market that operated with Bitcoin, and its alleged CEO, Roger Clark, a Canadian, pled guilty on Thursday in New York to conspiracy to distribute narcotics. He faces a term of incarceration of 20 years. Clark was extradited from Thailand in 2018, and was charged […]

“Take the money and run, and blame someone else” – a digital currency exchange founder’s exit strategy

The brother A criminal complaint filed in the Southern District of New York by the FBI against Konstantin Ignatova, an executive who helped to operate a digital currency exchange and launched an initial coin offering (“ICO“) called OneCoin, sheds some light on the sometimes murky world of a digital currency exchange founder. The money The […]

US DoJ unseals indictment against two people associated with payment processor of digital currency exchanges

The DOJ from the Southern District of New York, unsealed a grand jury superseding indictment against two people today for allegedly providing payment processing services to digital currency exchanges without being licensed and under circumstances where they allegedly lied to obtain bank accounts. They are charged with bank fraud. According to the indictment, Reginald Fowler, […]

Australian federal police uncover Bitcoin-related alleged international drug traffickers boasting about their luxury cars and mansions on social media

Two Bitcoin-related alleged drug traffickers living large and spending above their reported incomes In the last few months, the Australian Federal Police have arrested two well-known Bitcoin guys suspected of leading secret lives as international drug traffickers. Both alleged to the public that they had real jobs, one operating a digital currency exchange and the other an IT business, […]