Crypto hackers have turned their attention toward the crypto user, and “security hygiene” is more important than ever, according to Binance’s Jimmy Su.
100K ChatGPT logins have been leaked on dark web, cybersecurity firm warns
The compromised accounts could give bad actors confidential information about companies and individuals.
EU-Funded Report Calls for Crypto ID Checks, Police Training to Combat Darknet Markets
Law enforcement can learn how to track illicit activity, but outright crypto bans aren’t effective, a report commissioned by the EU’s monitoring body for drugs concluded.
Largest Crypto Seizure In Australia: Police Seize $6M Worth Of Digital Currency
The percentage of illegal crypto transactions, according to this Chainalysis report, is about 2% of total transactions. Although the majority of cryptocurrency transactions is not illegal, it is increasingly being used for criminal activities.
As part of a dark web operation, Australian police have conducted a massive cryptocurrency seizure. The total value seized was about $6 million (AUD 8.5 million). According to the authorities, this is the largest crypto seizure made in Australia in history.
Crypto Seizure And The Dark Web
Victoria police reported that the seizure was part of an ongoing investigation into online drug trafficking. The arrests and seizures constitute part of an investigation into drug trafficking on a dark web platform that has been online since 2012. Australian authorities have been investigating the drug trafficking dark web platform since early 2021.
Related Reading | US Government Plans To Pay Rewards To Dark Web Informants In Cryptocurrency
On Thursday, detectives conducted searches at properties in Kinglake, Preston, Prahran, Dollar, and South Yarra. They carried out the searches with assistance from East Gippsland Crime Investigation Unit and Bass Coast Crime Investigation Unit. Several items were seized from the properties. These include drugs believed to be cannabis, Psilocin (magic mushrooms), MDMA, prescription medication, and white powder and crystals. The police also seized assets worth a total of AUD 13.1M. Among these were two properties in Kinglake and Dollar valued at about $2M. Vehicles, including a Toyota Prado and VW T-Cross, valued at about $100,000, were also seized.
Crypto total market cap settles above $2 trillion | Source: Crypto Total Market Cap on TradingView.com
Three people were arrested and interviewed by the police. This includes a 31-year-old Kinglake woman and a 30-year-old Preston man. Although both have been released pending further inquiries, the woman was charged with possession of cannabis. A 33-year-old man was also arrested at the Preston address.
Investigations Remain Underway
Investigations into drug trafficking in Australia are still ongoing. The authorities urge anyone with information to contact them. Victoria Police Crime Command, Commander Mick Frewen, noted that the case highlights the modern nature of the serious and organized crime. “This is the 21st-century version of drug trafficking and money laundering, with criminals using technology to enable immense amounts of community harm and misery,” he stated.
He also mentioned that although there may be a perception of anonymity in online drug trafficking, the investigation shows otherwise. “We make no apology for targeting those involved in the manufacture and trafficking of illicit drugs and holding them to account”.
Related Reading | UK Police Seize Ethereum Worth $9.5 Million Found On USB Stick
This incident is just one of many recorded in recent times. The UK police have conducted investigations that have resulted in crypto seizures. The latest confiscation involved significant amounts of Ethereum (ETH) found on USB sticks connected to an international cryptocurrency scam.
Featured image from Decrypt, Chart from TradingView.com
Digital intelligence must overcome challenges to solving crypto crimes
Changing an intelligence agency’s perspective on crypto crime is the next step toward a successful crypto investigation.
US State Department offers up to $10 million in crypto rewards to white hat hackers
The United States is offering crypto assets to incentivize white-hat hackers to uncover state-sponsored actors and potential terrorists on the dark web.
SEC issues first ever charges over phoney ‘insider information’ on darknet
The SEC has taken action against a Californian man for fraudulently offering insider stock trading tips on a darknet marketplace.
U.S. Woman Charged Over Attempted Dark Web Murder-for-Hire Paid With Bitcoin
The woman allegedly presented a sum of over $5,000 in bitcoin to a dark web admin as proof she could afford the hit.
Russia and US Dominate Global Dark Market Traffic: Report
Darknet marketplaces received $1.7 billion during 2020, mostly from Russia, the U.S., Ukraine and China, Chainalysis says.
Missouri Man Pleads Guilty to Trying to Buy Chemical Weapons With Bitcoin
The chemicals, though never delivered, would have been potent enough to kill 300 people, prosecutors say.
US Citizen Accepting Bitcoin for Narcotics Indicted by DOJ
Joanna De Alba “dispensed heroin and methamphetamine from the shadowy corners of the internet,” said U.S. Attorney Richard P. Donoghue.
Russia’s Largest Darknet Market Is Hawking an ICO to Fund Global Expansion
Here’s one token sale that’s almost certainly illegal, and not just under securities laws.
Cybercriminals Selling Hacked Fiat Money for Bitcoin at 10% of Its Value
Dark market sellers are offering fiat cash for bitcoin at discount prices, but there’s a catch.
Dark Web Drug Dealer to Forfeit Millions of Dollars in Illicit Crypto Earnings
A man has been sentenced in San Diego, California, for conspiring to sell opioids and other drugs over dark web markets for cryptocurrencies.
Three UK Men Busted Over Bitcoin-Based Drug Ring
The trio sold their products on the dark web and shipped as far as Australia.
California Couple to Forfeit Cryptocurrency Riches After Drug Bust
The couple must forfeit an undisclosed sum of bitcoin and bitcoin cash they acquired from selling illicit goods on a dark web marketplace.
Dark Web Drug Dealer to Hand Over Bitcoin Millions After Plea Deal
A dark web drug dealer must forfeit $4 million in funds including bitcoin after pleading guilty in New York.
New York State Sees First Conviction for Crypto Money Laundering
A case involving millions of dollars in bitcoin and Western Union payments resulted in New York State’s first conviction for crypto money laundering.
Canadian Court Rules Drug Dealer Must Hand Over $1.4 Million in Bitcoin
A Toronto judge has ruled that a 30-year old drug dealer must forfeit 281.41 bitcoins used in illegal activities on the dark web.
US State Seeks to Confiscate $24 Million in Dark Web Bitcoin
The crackdown of vendors on darkweb marketplaces lets the U.S. government seize 4,000 bitcoins and now it wants to confiscate all of them.