Elliptic Weekly Connect:SEC Charges Terraform and Do Kwon Amid Enforcement Wave

SEC Charges Terraform and Do Kwon Amid Enforcement Wave

The US Securities and Exchange Commission (SEC) has turned its enforcement authorities against those allegedly responsible for the collapse of the TerraUSD (UST) stablecoin last spring, an event that set off a wave of crypto market contagion across 2022.?

The regulator’s allegations come following charges South Korean prosecutors filed against Do Kwon for fraud and other crimes, and as he remains on the run from police as the subject of an Interpol arrest warrant.??

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The Power of Inclusive Teams Live Webinar

Following a tumultuous year in the crypto industry, one thing is clear - the people we surround ourselves with are more important than ever.??

With ‘Embrace Equity’ the main focus of International Women’s Day 2023, join our live webinar as we discuss why embracing equity is not just the right thing to do, it’s also good for business.?

Chaired by Simone Maini, CEO of Elliptic, our panel will explore the power of inclusive teams, and why diversity in all of its forms is crucial as we navigate the next chapter in the crypto industry.?

This webinar takes place 14th March 2023 10.30am ET/ 2.30pm GMT

Register here?

Elliptic Collaborates With Binance and Huobi to Freeze Lazarus Group Hack Proceeds

The crypto exchanges Binance and Huobi have frozen accounts containing approximately $1.4 million in cryptoassets originating from the June 2022 hack of Harmony’s Horizon Bridge . This was made possible thanks to intelligence provided by Elliptic and a swift response by the receiving exchanges.

Elliptic investigators were able to trace the entirety of the funds through this mixer, and attribute the hack to the Lazarus Group , a North Korea-controlled cybercrime organization. This attribution was subsequently confirmed by the FBI .

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Bitcoin ATMs: Amid UK Enforcement Action, What Are the Risks of Crypto Kiosks?

Last week, the Financial Conduct Authority (FCA) announced that it is considering enforcement action against Bitcoin ATM operators operating outside of the UK’s regulatory regime for crypto.

In this article, David Carlisle takes a look at the perceived risks and realities of Bitcoin ATMs, and considers how investigators and compliance teams can respond.

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Happening Today - The $10 Billion Crypto Crime Problem

Savvy criminals are finding new ways to launder their money on the blockchain – yet law enforcement agents are often using tools designed to catch yesterday’s thief.?

So, what can be done to win the arms race? Join our webinar with Eric Yingling – Supervisory Special Agent, Virtual Assets Unit, FBI – to find out.

Last call

Why Banks Need to Prioritize Crypto Due Diligence and Monitoring

Recent warnings from banking supervisors must not be taken as a cue to turn a blind eye, or pretend that risks will go away by assuming they are not there. Rather, bank compliance teams should ensure their systems and controls enable them to identify and manage any exposure to high-risk crypto exchanges before regulators come knocking with concerns.

Find out the two initial steps that banks can take to get ahead of the game.

Find out

From the team

Country Guide

Hot off the press is our latest update for crypto regulation and legislation in Portugal. Here, cryptoassets also do not qualify as fiat currency, nor are they treated as “money” or, in principle, “electronic money”.?

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More information

• Elliptic Learn : equip your team with practical crypto compliance knowledge.
• Regulation Tracker : whether it’s Bermuda, Brazil or Belgium, find out the latest regulatory changes in your jurisdiction.