A&D Forensics Brief, June 17, 2022
A&D Forensics
Financial and Blockchain Intelligence Consulting, Blockchain Forensics, Crypto Investigations and Training Firm.
Regulatory and Crime News
In a raid that occured in Nakutu, fourth largest city in Kenya, a two man gang in the company of two ladies were arrested for crimes relating to crypto. The gang defrauded victims by using fake emails to hack their credit cards. The proceeds were used to buy Bitcoin and then converted to Kenyan currency(KES).
Nigerian Court Sentences Crypto Fraudster to One Year in Jail, Accused Given Option to Pay Fine
A Nigerian court has convicted and sentenced a man to one year in prison who is accused of duping an unsuspecting cryptocurrency investor. On its charge sheet, the prosecution said that the man had contravened Nigeria’s anti-fraud laws and hence should be punished accordingly.
A jury in California on Wednesday June 15, 2022, found two California men guilty of federal criminal charges for their roles in a multimillion-dollar conspiracy – much of it perpetrated by Nigerian nationals – that involved a wide range of frauds, including business email compromise (BEC) fraud, romance scams, elder fraud, and malware fraud.
The US Internal Revenue Service rolls out "Operation Hidden Treasure", to clamp down on crypto tax evaders. To achieve its goal, the IRS formed a task force composed of experts in tracking various types of crypto income, as well as combining the civil and criminal divisions of the IRS to combat crypto tax fraud.
According to Chainalysis’s State of Web Report, The collapse of TerraUSD (UST) had three stages. First, two traders broke UST’s peg; next, Terraform Labs and three supporters repaired it by purchasing $2B UST; finally, the continued sell-off drained those funds, hyperinflated UST’s sister token LUNA, and crashed the price of both LUNA and UST.
On Thursday morning, the Inverse Finance Protocol was attacked. Exploiters made use of flash loans to siphon 53 BTC and $10,000 worth of Tether, from the lending protocol.
An article by Blockchain Intelligence Group detailing how Giveaway scams are attempted to trick victims into thinking that a legitimate cryptocurrency exchange or a celebrity is funding a cryptocurrency giveaway.
领英推荐
An investigation by Reuters is accusing Binance, the world’s largest crypto exchange, of enabling illicit transactions totalling $2.35 billion between 2017 and 2021. The report cites the laxity of regulation as well as the aid of other platforms like the Darknet Hydra Market and the anonymity crypto Monero as propellers.
Keith Johnson, “an American citizen who was defrauded out of money by defendants’ Dogecoin Crypto Pyramid Scheme,” sued Musk and his companies, claiming they constitute an illegal racketeering enterprise to inflate Dogecoin’s price.
As a Certified Fraud Examiner, Auditor, Legal practitioner, do you wish to advance your career into the Blockchain and Cryptocurrency Ecosystem?
Then, Register to Join the Certified Cryptocurrency Compliance Specialist Training(3CS) This July
The Certified Cryptocurrency Compliance Specialist Course (3CS) gives you a career advantage to join the league of crime fighters in the Blockchain and Cryptocurrency Ecosystem
What you'll learn??
1. Blockchain and Cryptocurrency Intuition.
2. How cryptocurrencies are used on dark net market places.
3. Identifying illicit activities with cryptocurrency.
4. Practical ways to prevent money laundering and terrorist financing using cryptocurrency.
5. Practice Real-world investigative techniques and methods to analyze cryptocurrency related crimes
6. Decipher and identify financial red flags within virtual assets service providers, OTC traders and cryptocurrency exchanges.
Register Now To be part of the July 2022 Cohort