The US Department of Justice announced that Ramil Ventura Palafox, the CEO of Praetorian Group International (PGI), was sentenced to 20 years in prison. Prosecutors stated that Palafox operated a $200 million Bitcoin-based Ponzi scheme that defrauded more than 90,000 investors across the world. Bitcoin Fraud Case According to court documents, Palafox, the 61-year-old dual […]
As global attention remains fixed on the continued release and scrutiny of emails and documents tied to sex trafficker Jeffrey Epstein, attention has turned to how exploitation networks operate and move money. Against this backdrop, a new report from Chainalysis disclosed that cryptocurrency flows to suspected human trafficking-related services surged sharply in 2025. Transaction volumes […]
A South Korean court has sentenced Jong-hwan Lee, CEO of a local crypto asset management firm, to three years in prison for manipulating cryptocurrency prices to secure illicit profits. The Seoul Southern District Court ruled on Wednesday that Lee violated the Virtual Asset User Protection Act, earning approximately 7.1 billion Korean won (which is worth […]
International Criminal Police Organization (Interpol) has formally designated crypto-enabled fraud as a global criminal threat, following the adoption of a new resolution at its General Assembly, which aims to tackle the rapid expansion of transnational scam centres implicated in large-scale fraud, human trafficking, and severe abuse. According to the organization, these criminal hubs often lure […]
The International Consortium of Investigative Journalists’ (ICIJ) Coin Laundry investigation found illicit funds were funneled through major cryptocurrency exchanges, including Binance, OKX, Coinbase, Kraken, Bybit, and Kucoin, as part of a global shadow economy benefiting from criminal proceeds. The 10-month cross-border project, which was conducted with 37 media partners in 35 countries, gathered hundreds of […]
Cryptojacking Scandal: Ex-Digital River Worker Exploited Company Systems for Personal Ethereum Gains
A former Digital River employee has been ordered to pay more than $45,000 back to his previous employer after unlawfully using company computing systems to mine cryptocurrency. Joshua Paul Armbrust, 45, was sentenced Tuesday to three years’ probation by US District Judge Jerry Blackwell, following his April guilty plea to a felony computer fraud charge. […]
Authorities from the island nation have issued a notice for a substantial amount of Bitcoin lost due to a sophisticated attack. This event adds to the already long list of similar attacks the year has seen so far, and worryingly, continues to see. The Losses Increase Financial crime continues to weigh heavily on the crypto […]
A violent attack in central Paris has left a man without a hard drive containing €2 million worth of Bitcoin. The incident, which took place on Tuesday evening, August 5, is the latest in a growing pattern of crypto-related crimes in France. Details Of The Attack According to local media reports, the incident began at […]
White-collar crime surrounding cryptocurrencies was rampant in the early days of the industry. Still, the law is continuing to crack down on those who took advantage of the lack of regulation available at the time. What was touted as innovation turned out to be a scheme used to fund a person’s lavish lifestyle. Justice Served […]
Crimes involving cryptocurrency are worryingly on the rise, becoming ever more aggressive and, as in this case, quite shocking. Regardless of whether alleged or not, this is the harsh reality we are currently facing in this day and age. Pleading Not Guilty According to a story from Fox News, two culprits are accused of torturing […]
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