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Tag Archives: money

New DEA Report Covers Bitcoin Money Laundering and Darknet Drug Trade

The United States Drug Enforcement Administration (DEA) and the United States Department of Justice recently jointly released their National Drug Threat Assessment for this year. In the new report, the DEA mentions the use of bitcoin and other cryptocurrencies for money laundering, as well as drug trafficking through darknet markets. The DEA’s Strategic Intelligence Section creates a new drug threat ... Read More »

Bitcoin Money Laundering Lands Six in Court

Six men are facing charges in the Netherlands after being accused of laundering hundreds of thousands of euros with the aid of the online cryptocurrency, Bitcoin. They allegedly laundered the money by reselling bitcoins paid for by illicit drug sales. The men appeared in a Dutch court on Wednesday and are now facing a potential jail term ranging from 6 ... Read More »

Employee of Coin.Mx Operator Gets 16 Months Sentence

A Ukrainian software engineer from Florida received a 16 months prison sentence for his role in creating a Bitcoin scam, using an illegal Bitcoin exchange, Coin.mx, to launder money for a global hacking network which targeted financial and publishing firms. US District Judge Alison Nathan on Friday, sentenced the accused, Yuri Lebedev after he was convicted earlier this year by ... Read More »

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Belgian Police Raiding Houses in BTC Money Laundering Bust

  Seemingly unrelated to the recent United States demanding of Greek police to arrest the alleged owner of BTC-e, the Belgian judicial police raided nine locations for the same reason. Not that the U.S. asked them to conduct the raids and subsequent arrests; according to the latest published news, the Belgian judicial police suspected several men of money laundering through ... Read More »

EU Groups Work on Anti BTC Money Laundering Tools

The result of the collaboration of 15 organizations from seven European countries took the form of a $5.6 million, three year long study into criminal and terrorist acts on the net. According to a press release by the Austrian Institute of Technology (AIT), they already launched a research project focused on cybersecurity. They want to “prevent criminals and attackers from ... Read More »

Tutorial – Altcoin Flipping : Making Money Online Via Trading Cryptocurrencies

The year of 2017 is definitely the year of crypto, especially that the market capital of cryptocurrencies has reached its all time high during the past week, recording around $28.7 billion according to data from coinmarketcap.com. Many cryptocurrency traders, or more precisely “altcoin flippers”, as myself have made some good profits during the past few weeks. I managed to double ... Read More »

Austrian Report: Money Laundering Is On The Rise

A recent report conducted by Austrian officials showed that the suspicious cases indicating money laundering had seen an increase last year. According to the latest report by the Federal Criminal Police Office (BK), 2,150 suspicious cases (banks reported 2,002 cases) occurred in Austria in 2016. Compared to the year of 2015, where the number of such instances was 1,793, is ... Read More »

Imperfectly Programmed Smart Contracts Will Gobble Your Money

Ethereum is by far one of the most popular cryptocurrencies, as more than 10 million transactions have already taken place on Ethereum’s blockchain, since the cryptocurrency was first launched in 2015. Ethereum’s blockchain is considered the most popular smart contract platform today. On Ethereum’s blockchain, a smart contract can be coded using a myriad of programming languages including Solidity (best ... Read More »

German Tried To Pay With Counterfeit Money For Pizza – Got Busted

A family man from Cologne, Germany was sentenced for trying to put counterfeit euro notes into circulation, which he bought from the dark web. Mike K. (his name was changed for privacy reasons), a 24-year-old family man was sitting in the courtroom for the charge of forgery on March 11. According to official court documents, the defendant ordered four pieces ... Read More »

Darknet Money Launderer Sentenced to Eight Months Imprisonment

George Cottrell, a man DeepDotWeb covered extensively with respect to the criminal case, received his formal sentencing in early March. In December, 2016, Cottrell pleaded not-guilty to 20 charges out of the 21-count indictment. The charges centered around fraud in general. However, money laundering charges made an appearance too. He pleaded guilty to one count of wire fraud and managed ... Read More »

Bitcoin has Transformed From Darknet Money into Digital Gold

In the early years of bitcoin, even until the end of 2014, bitcoin was perceived as darknet money used to purchase drugs and illicit goods in the dark web. Over the past two years, this image of bitcoin has changed significantly. Bitcoin has transformed from darknet money into digital gold. In late 2016, the global financial market and economy struggled, ... Read More »

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Narcotics, Weapons, And Counterfeit Money Found In German’s Apartment

A 28-year-old man from Stuttgart, Germany stood before court for possessing large amounts of narcotics, counterfeit money, and weapons in his apartment. According to police information, all illegal goods were ordered from the dark web. The case started in 2016 when the suspect bought a kilogram of marijuana from a dark web vendor “River 87”, the defendant confessed. Meanwhile, the ... Read More »