ChainCatcher message, on-chain detective ZachXBT disclosed in a personal channel that the eXch (centralized mixer) team mistakenly sent 34 ETH (worth $96,000) to another exchange's hot wallet address after helping the Bybit security incident hacker group Lazarus Group launder $35 million.

ChainCatcher message, the encrypted KOL clarified that the previous analysis regarding the Bybit hacker using the Solana network and Kanye Meme coin for money laundering was misleading due to @barneyxbt's post. He stated that the $1.38 billion worth of ETH on the Bybit hacker's address is still on the Ethereum mainnet and has deleted the previous analysis tweet.

ChainCatcher news, according to independent researcher @0xNing0x's analysis, the ETH funds involved in the Bybit theft incident were partially stored in the form of stETH/mETH. The hacker has exchanged them for ETH through Uniswap, DODO, and ParaSwap, and transferred the funds cross-chain from Ethereum to the Solana network.Research shows that the hacker's funds exhibit characteristics of "central clusters + multiple satellite small clusters + complex inter-transfer networks." Due to the poor readability of transaction logs on the Solana network, tracking the funds has become more difficult. Analysts speculate that the hacker may plan to use the upcoming Kanye celebrity meme coin for money laundering.Previous news, famous rapper Kanye West posted on the X platform that he will launch an official token next week, and currently, all tokens are fake.

ChainCatcher message, Slow Fog Yu Xian posted on platform X stating: "Although there is currently no clear evidence, based on the methods used for Safe multi-signature and the current money laundering techniques, it resembles North Korean hackers. North Korean hackers, if I have wronged you, please correct me, and I will apologize..."

ChainCatcher news, according to Bitcoin.com, the new president of the Central Bank of Brazil, Gabriel Galipolo, stated that over 90% of cryptocurrency usage in the country involves stablecoin transactions. The central bank's analysis found that stablecoins are primarily used for cross-border payments and pose risks of tax evasion and money laundering.Galipolo pointed out that the central bank initially believed the popularity of stablecoins was due to their convenience for the public to hold dollars. However, after further investigation, it was found that a significant amount of stablecoin transactions were related to cross-border shopping, and the transaction methods were opaque, potentially being used to evade taxes or for money laundering activities. He also criticized some citizens' pursuit of privacy, suggesting that this is often associated with illegal activities.Galipolo revealed that the Central Bank of Brazil proposed new regulations last December, aiming to link the regulation of stablecoins to foreign currencies, which may prohibit individuals from holding stablecoins. If this regulation is ultimately passed, it will restrict Brazilian users from participating in decentralized finance (DeFi) activities, as most DeFi platforms require users to manage their own funds.

ChainCatcher news, according to Jiangxi Daily, recently, the Criminal Investigation Team of the Yongfeng County Public Security Bureau in Jiangxi Province, in conjunction with the Municipal Public Security Bureau's Criminal Investigation Detachment, successfully dismantled a money laundering gang that used virtual currency for "electric fraud scoring."Since late January this year, the suspects Liang Mouyong, Zeng Mou, and Zhang Mouyong formed a "electric fraud scoring" team for profit, gradually recruiting others and developing a network. Liang Mouyong was responsible for using "paper**" overseas chat software to contact fraudsters for orders, while Zeng Mou and Zhang Mouyong were responsible for finding card farmers, collecting more than 10 bank accounts through borrowing and inducement, which were used to receive illegal funds. After the illegal funds were received, they were converted into virtual currency to achieve the purpose of money laundering. From January 24 to February 3, the gang transferred over 100,000 yuan.Currently, Liang Mouyong, Zeng Mou, and 6 others have been criminally detained by the public security organs according to the law, while Wen Moubo and Gao Moubing have been administratively punished by the public security organs according to the law. The case is still under further investigation.

ChainCatcher news, according to Caixin reports, Hao Gang, the former deputy director of the Beijing Municipal Bureau of Financial Supervision, was sentenced to 11 years in the first instance. It is reported that Hao Gang was involved in Bitcoin money laundering and had assisted executives of a leading Bitcoin mining company in lifting border controls, with the amount of bribes possibly reaching tens of millions. Hao Gang previously served as the director of the Financial Risk Management Department of the Beijing Financial Bureau and became a member of the Party Leadership Group and deputy director of the Beijing Financial Bureau in August 2019, overseeing the risk line, until he was investigated in April 2023 for suspected serious violations of discipline and law.

ChainCatcher news, according to Caixin reports, former deputy director of the Beijing Municipal Bureau of Financial Supervision and Administration, Hao Gang, was sentenced to 11 years in the first instance.Hao Gang was involved in Bitcoin money laundering and had assisted executives of a leading Bitcoin mining company in lifting travel restrictions, with the amount of bribes possibly reaching tens of millions. Hao Gang previously served as the director of the Financial Risk Management Department of the Beijing Financial Bureau and became a member of the Party Leadership Group and deputy director of the Beijing Financial Bureau in August 2019, overseeing the risk sector, until he was investigated in April 2023 for suspected serious violations of discipline and law.

ChainCatcher news, according to Reuters, French investigators have launched a judicial investigation into money laundering, tax fraud, drug trafficking, and other allegations against the cryptocurrency exchange Binance. No further details have been disclosed yet, and Binance has not responded to this.

ChainCatcher news, according to Decrypt, the European judicial organization recently announced the successful dismantling of a multinational money laundering gang that used cryptocurrency to transfer profits among criminal organizations. Investigations revealed that the gang had at least 52 members spread across Spain and Cyprus, conducting up to 6 money laundering transactions per week. In the operation, 23 suspects were arrested, $28 million worth of cryptocurrency was frozen, and approximately $8 million in cash was seized across various locations in Africa.It is reported that the case began in 2023 when Spanish border officials discovered a large amount of funds being transported to Cyprus, with the total amount involved exceeding $100 million. The gang transported cash via commercial flights and public transport, maintaining connections with numerous commercial companies worldwide.

ChainCatcher news, according to Cointelegraph, Spanish law enforcement has collaborated with blockchain companies Tron, Tether, and TRM Labs to freeze $26.4 million worth of cryptocurrency related to a pan-European money laundering operation.Reportedly, Tron’s security measures have reduced the volume of illegal transactions on its blockchain by $6 billion. Additionally, TRM Labs disclosed that 49% of illegal activities on the Tron chain are related to sanctioned entities, while 32% are associated with blacklisted funds.

ChainCatcher news, according to the Xiaoxiang Morning Post, on October 16, 2024, two enthusiastic passengers discovered that a fellow passenger was behaving suspiciously on the train and immediately reported it to the train police. The passengers claimed that the man sitting next to them was chatting using a certain app, with content related to virtual currency trading. The railway police subsequently seized over 560,000 yuan in cash from his luggage. Upon inspecting Zeng's phone, it was found that he was contacting others to resell virtual currency at the time of the investigation.This is a case of using a ride-hailing platform to deliver cash for fraud, and then using virtual currency for money laundering. Currently, the case has been handed over to the Gansu police, and a local victim, Gao, has retrieved over 100,000 yuan in cash related to the fraud. The investigation is ongoing.

ChainCatcher news, the Chengdu court released the top ten typical cases for 2024, which disclosed a fundraising fraud and money laundering case involving the "GUCS" virtual currency and the associated software "Wa11et Pro" APP. The defendants, including Wang, vigorously promoted the economic value and investment prospects of GUCS coin in Chengdu, Deyang, Meishan, and other places, developing downlines in a pyramid scheme manner, resulting in losses of over 1.7 billion yuan for more than 29,000 fundraising participants. Wang was sentenced to life imprisonment, deprived of political rights for life, and ordered to forfeit all personal property.In addition, the Chengdu court also disclosed a case involving a Singapore company suing a Sichuan real estate company over a "mining machine" sales contract dispute, ruling that the Sichuan real estate company must refund the Singapore company the already paid amount of 836,000 USD for the goods, along with shipping and insurance fees of 22,534 USD, while dismissing other claims from the Singapore company.

According to ChainCatcher news reported by The Block, a federal grand jury in the Northern District of Georgia has indicted three Russian citizens for crimes related to operating two cryptocurrency mixers. According to a statement released by the U.S. Department of Justice, the defendants Roman Vitalyevich Ostapenko, Alexander Evgenievich Oleynik, and Anton Vyachlavovich Tarasov are accused of running two mixing companies named Blender.io and Sinbad.io. They are charged with conspiracy to launder money and operating an unlicensed money transmitting business.In May 2022, the U.S. discovered that North Korean hackers used Blender to launder $20.5 million from the $600 million Axie Infinity hack, leading to sanctions against Blender. Blockchain analytics firm Elliptic pointed out in 2023 that Sinbad is likely a rebranded version of Blender, operated by the same organization. Blender maintained a "no-logs policy" and deleted user transaction details.The company operated from 2018 until 2022, with its successor Sinbad emerging a few months after Blender's shutdown. On November 27, 2023, law enforcement took action to shut down Sinbad. If convicted, the defendants could face up to 20 years in prison for money laundering and up to 5 years for operating an unlicensed money transmitting business. Ostapenko and Oleynik were arrested on December 1, 2024. Tarasov remains at large.

ChainCatcher news, according to Cointelegraph, Terraform Labs co-founder Do Kwon has been hit with a new charge: conspiracy to commit money laundering. This new charge was added in the superseding indictment unsealed by the U.S. District Court for the Southern District of New York on January 2. The indictment states that Do Kwon conspired with others, knowing that transactions exceeding $10,000 involved illegal proceeds, yet still facilitated these financial transactions.Previously, Kwon had been charged with eight felonies for his role in the collapse of the Terra ecosystem in 2022 and was arrested in Montenegro in 2023 for forging travel documents. After a dispute over extradition between the U.S. and South Korea, Kwon was transferred to the U.S. in December 2024. Currently, Kwon pleaded not guilty to all charges during his court appearance on January 2 and agreed to be detained. It remains uncertain whether a plea agreement will be reached or if he will enter a criminal trial.This case bears similarities to that of former FTX CEO Sam Bankman-Fried, who faced additional charges after extradition and was ultimately sentenced to 25 years in prison.

ChainCatcher news, South Korean lawmaker Choi Eun-sik has proposed an amendment to the "Foreign Exchange Transactions Act," aimed at preventing money laundering and other foreign exchange crimes related to virtual assets. The amendment proposes the establishment of a monitoring system for virtual asset transactions, the improvement of the institutional foundation for financial technology foreign exchange services, the enhancement of the convenience of foreign exchange transactions for individuals and businesses, and the strengthening of the intelligent construction of the foreign exchange monitoring system.He stated that the rapid development of virtual assets and financial technology in recent years has diversified cross-border transaction methods, but current laws have failed to cover these changes, leading to regulatory blind spots, particularly as money laundering involving virtual assets and illegal foreign exchange transactions have become increasingly serious.According to data from the Financial Intelligence Unit (FIU), the number of suspicious transaction reports from virtual asset merchants increased by 48.8% last year compared to the previous year. The Ministry of Finance plans to add definitions for virtual assets and virtual asset merchants next year and requires virtual asset merchants to register before conducting cross-border transactions and to regularly report users' transaction records to the Bank of Korea.The amendment is expected to be implemented in the second half of next year.

ChainCatcher news, according to the Workers' Daily report, the Beijing People's Procuratorate has released the work situation of the "Procuratorial Protection for Enterprises" special action and published typical cases. In a case of embezzlement, the defendant defrauded the company of over 140 million yuan, and the procuratorial authorities tracked the virtual currency to recover losses.Between 2020 and 2021, Feng, taking advantage of his position at a certain technology company's service provider and regional operations growth department, conspired with Tang and Yang to defraud the company of service provider bonuses totaling over 140 million yuan. Subsequently, Feng directed Tang and Yang to use eight overseas virtual currency trading platforms to convert the involved funds from yuan to virtual currency, obfuscating the source and nature of the funds through overseas "mixing" platforms, and transferring them in multiple layers. Part of the involved funds flowed into accounts controlled by Feng and others in yuan form, while some were concealed by Feng and others in virtual currency form.In response to the defendants' distribution of profits using virtual currency and the obfuscation of fund flows through overseas "mixing" platforms, the procuratorial authorities conducted a line-by-line comparison and two-way review of virtual currency and legal tender, accurately identifying the flow of funds. This ultimately prompted Feng to return 92 bitcoins, recovering over 89 million yuan in illicit gains, maximizing the economic losses recovered for the victimized unit.On September 14, 2024, the Beijing First Intermediate People's Court issued a judgment, sentencing defendant Feng and seven others for embezzlement, with prison terms ranging from 14 years and 6 months to 3 years, along with corresponding fines. The judgment has taken effect.

ChainCatcher news, according to China National Radio, the Economic Investigation Team of the Public Security Bureau of Tie Dong District, Siping City, Jilin Province, China, successfully cracked a money laundering case involving a gang that used the virtual currency USDT to help financial fraud criminals transfer illicit funds. This was achieved through tracing the flow of funds and digging deep into clues during the investigation of a financial fraud crime. The criminal gang had clear divisions of labor and used various means to evade detection during their operations.Upon investigation: The suspect Liu, in collusion with Zhao, Wang, and others, from December 2023 to May 2024, knowingly assisted buyers whose funds were derived from financial fraud to profit from it. Liu first deceived others into providing their bank accounts under the pretense of needing them to process loans to prove repayment ability. The deceived bank accounts were then used to receive funds obtained from financial fraud. Liu subsequently instructed the involved parties to withdraw cash from the bank and hand it all over to Liu, who then transferred it to Zhao and Wang, who deposited the cash into their respective bank accounts. The two helped the financial fraud gang launder money by buying and selling "U coins" on digital currency trading platforms, profiting from the transactions. The gang laundered over 100,000 yuan in total.Currently, members of this money laundering criminal gang have been subjected to criminal coercive measures by the public security authorities, and the case is under further investigation.

ChainCatcher News, the U.S. Treasury Department announced on Tuesday that it has taken action to shut down a North Korean cryptocurrency money laundering network that has laundered millions of dollars for North Korea, a major player in global crypto crime.According to a press release from the U.S. Treasury's Office of Foreign Assets Control (OFAC), a shell company based in the UAE named Green Alpine Trading, LLC was found to be exchanging cryptocurrency for cash, providing funding to North Korea. The U.S. government's sanctions office has blacklisted the company and sanctioned two Chinese nationals who have been involved in the network since 2022.The press release stated that the UAE cooperated with the U.S. in this operation. It is currently unclear what has happened to the two sanctioned Chinese nationals—Lu Huaying and Zhang Jian. According to the press release, they collaborated with North Korea's "agent" Sim Hyon Sop to engage in illegal activities.