A&D Forensics Brief, October 14, 2022
A&D Forensics
Financial and Blockchain Intelligence Consulting, Blockchain Forensics, Crypto Investigations and Training Firm.
Data leaked on a well-known cybercrime site included names, credit card numbers, expiration dates, CVV numbers, and addresses, to name just a few. According to Cyble Research & Intelligence Labs researchers who found the hacked database, it contains information on 1,221,551 credit and debit cards.
The alleged fraudsters created a website specifically for BAYC and MAYC NFTs that pretended to be a service to animate the gorillas but instead phished customers' information to steal their NFTs.
Decentralized exchanges are still more susceptible to hacking threats, therefore cryptocurrency investors feel better at ease putting their funds on CEXs. This is supported by a research released on October 13 by the cryptocurrency exchange Bitfinex and blockchain data provider Chainalysis.
TransitFinance, a cross-chain swap aggregator,?announced?on October 10 that it reached an agreement with the Hacker behind the $29M exploit of the protocol last week. The Hacker, White Hat #1, is to return funds in batches and be assured of no lawsuit if he keeps to the agreement. Meanwhile, the exploit linked to a bug in the smart contract attracts a $677,000 white hack compensation.
Having stolen $117 million in digital assets from decentralized finance exchange Mango Markets, the hacker has now offered to return the money, but only if token holders allow them to keep $70 million without facing legal repercussions.
Yuga Labs, a heavyweight of the NFT world which controls collections such as Bored Ape Yacht Club, CryptoPunks and Meebits, are the next to be drawn under the radar of the U.S. regulatory body SEC.
The U.S. Securities and Exchange Commission is looking into whether sales of some of its offerings violate federal law. According to reports, it is looking into the distribution of ApeCoin, the token linked to the collections.
Cryptocurrency exchange Bittrex agreed to pay the U.S. Treasury and the Financial Crimes Enforcement Network (FinCEN) a record fine of $29.3 million for allegedly violating multiple U.S. sanctions.
Bittrex completed transactions worth over $263 million from customers in the Crimea region of Ukraine, Cuba, Iran, Sudan and Syria. Between 2014 and 2017, these jurisdictions fall under U.S. Sanctions. They also failed to implement an effective anti-money laundering program, violating the Bank Secrecy Act.
Portugal, widely considered one of the most crypto-friendly countries, is shifting from its initial stance of non-taxation of crypto assets. According to reports, Portugal wants to align with other European countries' taxation of crypto assets held for less than a year. It won't mandate tax be paid for crypto assets held for more than 365 days.
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The Singaporean-based arm of the United States cryptocurrency exchange Coinbase has received "in-principle approval" to provide crypto services in Singapore from its central bank, the Monetary Authority of Singapore (MAS). The CEO of Coinbase Singapore, Hassan Ahmed, describes the country as a key institutional market.
Binance has been accused of filing a "grossly inaccurate" annual report in 2020 by the co-owner of a Binance UK subsidiary DimplX. In addition, Amended financial statements for the same period filed on April 14, 2022, "remain unreliable for the purposes of determining the present fair value of Dimplx Limited's shareholding in Binance Digital," according to the report.
Central banks across the globe are showing an increased interest in CBDCs as an alternative to paper money. The Reserve Bank of India proposes a phased pilot of its version of a Central Bank for a digital version of the rupee, referred to as the e-rupee. It also explained its rationale for implementing a CBDC and how testers would test it in distinct phases.
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