ChainCatcher message, Musk responded on X to "a banana taped to a wall sold for $6.2 million" by stating: "Art is often used for money laundering and tax evasion. This largely explains the apparent absurdity."

ChainCatcher news, according to Cryptoslate, the Swiss Financial Market Supervisory Authority (FINMA) has expressed concerns about the increasing money laundering risks in the cryptocurrency sector. FINMA's 2024 Risk Monitoring Report elaborates on this warning, highlighting the growing misuse of digital assets such as cryptocurrencies and stablecoins for illegal activities.The report notes that stablecoins are increasingly used for illicit transactions, such as evading sanctions. This trend complicates law enforcement efforts and increases the legal and reputational risks for financial institutions that lack robust risk management strategies. Regulators emphasize the need for stronger measures to address vulnerabilities associated with the misuse of digital assets.To this end, FINMA has implemented measures for institutions to mitigate these risks, including targeted supervision and enhanced risk management requirements. Broader efforts include on-site inspections and revisions to audit plans aimed at strengthening anti-money laundering defenses. Regulators also call for the establishment of clear definitions of risk tolerance and effective risk management practices, particularly for institutions dealing with politically exposed persons or high-risk industry clients.

ChainCatcher news, according to DL News, U.S. prosecutors are seeking to confiscate two properties belonging to Tornado Cash co-founder Roman Storm (valued at a total of $3.1 million) and a Tesla Model Y, claiming these assets are derived from illegal proceeds.Tornado Cash has gained significant attention for concealing crypto transactions but has also been exploited by criminals for money laundering. In 2022, the U.S. imposed sanctions against it. This year, Storm has been charged with three counts, including money laundering and violating sanctions, while another developer, Alexi Pertsev, has been sentenced to five years in prison.Storm's team cited freedom of speech as a defense, but the judge dismissed the request. Crypto privacy advocates strongly oppose this, arguing that developers should not be held responsible for the misuse of their tools. Storm's trial has been postponed until April next year, with defense costs estimated to reach up to $500,000 per month.

ChainCatcher news, according to Cointelegraph, U.S. District Judge Colleen Kollar-Kotelly sentenced Heather Morgan (the rapper "Razzlekhan"), one of the suspects in the Bitfinex hacking case, to 18 months in prison during a hearing on November 18.In August 2023, Morgan pleaded guilty to conspiracy to commit money laundering and fraud charges. She is the wife and accomplice of Ilya Lichtenstein, the hacker who stole 120,000 bitcoins from the cryptocurrency exchange Bitfinex in 2016 and laundered them.On November 14, Judge Kollar-Kotelly sentenced Lichtenstein to five years in prison, far below the 20 years allowed by sentencing guidelines. Prosecutors noted that the hacker provided "substantial assistance" in other investigations and that he had no prior criminal record.

ChainCatcher news, U.S. District Court Judge Colleen Kollar-Kotelly sentenced Heather Morgan (the rapper "Razzlekhan"), one of the suspects in the Bitfinex hacking case, to 18 months in prison during a hearing on November 18.In August 2023, Morgan pleaded guilty to conspiracy to commit money laundering and fraud; she is the wife and accomplice of Ilya Lichtenstein, the hacker who stole 120,000 bitcoins from the cryptocurrency exchange Bitfinex in 2016 and laundered them.On November 14, Judge Kollar-Kotelly sentenced Lichtenstein to five years in prison, far below the 20 years allowed by the sentencing guidelines. Prosecutors noted that the hacker provided "substantial assistance" in other investigations and that he had no prior criminal record.

ChainCatcher news, according to Cointelegraph, Helix founder Larry Harmon was arrested in 2020 for helping criminals launder money and has now been sentenced to three years in prison and the forfeiture of over $400 million in cryptocurrency and other assets.U.S. District Court Judge Beryl Howell stated that the sentence was lenient given his assistance in the Bitcoin Fog mixer case.Larry Harmon operated the dark web Helix cryptocurrency mixer from 2014 to 2017, during which he laundered over 350,000 BTC. Helix collaborated with the Grams dark web search engine, which Larry Harmon also operated.

ChainCatcher news, according to a report by The Paper, at the 14th China Anti-Money Laundering Summit and the 4th Lujiazui National Financial Security Summit, Wang Jing, Deputy Director of the Anti-Money Laundering Bureau of the People's Bank of China, pointed out that in recent years, national public security, prosecution, and judicial authorities have continuously increased their efforts to combat money laundering crimes, with the number of cases investigated, prosecuted, and tried steadily rising.With the emergence of new technologies and new business models, criminals are constantly innovating their money laundering methods, using illegal payment platforms, virtual currencies, e-commerce or live streaming platforms, game currencies, and other means to transfer and conceal criminal funds. They also mix various payment methods such as bank accounts, virtual currencies, and cash, making money laundering techniques more diverse and covert, which increases the difficulty of detection and investigation.Wang Jing emphasized that a high-pressure stance must be maintained in the ongoing crackdown on money laundering crimes, continuously improving the quality and efficiency of investigations, prosecutions, and trials.

ChainCatcher news, according to a statement from the U.S. Department of Justice, Daren Li, a resident with dual citizenship of China and Saint Kitts and Nevis, has pleaded guilty to a conspiracy to commit money laundering for his involvement in a money laundering scheme related to a cryptocurrency investment scam that generated millions of dollars in proceeds. Daren Li and his co-conspirators used a network of shell companies and international bank accounts to launder over $73 million from victims of the cryptocurrency investment fraud. Daren Li is scheduled to be sentenced on March 3, 2025. Li faces a maximum of 20 years in prison.

ChainCatcher news, the crypto anti-money laundering company Notabene has completed a $14.5 million Series B funding round, led by DRW Venture Capital, with participation from Apollo, Nextblock, ParaFi Capital, Wintermute, CMT Digital, F-Prime, Green Visor Capital, Illuminate Financial, Jump Capital, Signature Ventures, and Y Combinator.Notabene is a startup that helps cryptocurrency trading companies comply with anti-money laundering (AML) regulations. Notabene aims to become the SWIFT for crypto trading, and its network effects are continuously strengthening, with 165 companies using the platform, including some virtual asset service providers (VASP) such as Copper, OKX, and Ramp.

ChainCatcher news, according to CertiK monitoring, the CoinStats attackers have just resumed their money laundering activities after several months of inactivity. On November 9, approximately 2.6 million Dai were transferred to four new addresses, and a day later, another approximately 2.6 million Dai were deposited into the MakersDai contract.Nevertheless, half of the 3,027 ETH (about 10 million USD) transferred to 0x7397 has not moved, as there are 2.6 million Dai on 0x7b00 and 762 ETH on 0x7d38.

ChainCatcher news, according to Bloomberg, the founder of the cryptocurrency mixing service Bitcoin Fog has been sentenced to 12 and a half years in prison for laundering tens of millions of dollars from the sale of illegal drugs on dark web markets.U.S. District Judge Randolph Moss sentenced 36-year-old Roman Sterlingov to 150 months in prison at the federal court in Washington. Prosecutors stated that Bitcoin Fog handled hundreds of millions of dollars in untraceable transactions, some of which came from known dark web markets. Roman Sterlingov was convicted of conspiracy to launder money, money laundering, and two counts related to operating an unregistered money transfer service.

ChainCatcher news, according to a report by Poster News, on November 6, the police in Leshan, Sichuan disclosed a case of illegal operation, dismantling a major cross-regional underground bank crime network involving 13 provinces across the country, with an amount involved exceeding 38 billion yuan. Recently, the Leshan Intermediate People's Court made a ruling, sentencing three defendants to fixed-term imprisonment ranging from two years and six months to thirteen years and six months for the crimes of illegal operation and issuing false value-added tax invoices.It is reported that the case involved virtual currency transactions and cross-border fund transfers, with the operational information being complex and mixed, amounting to over 20 million pieces of data. According to the police officers in the special case team, a total of 37 cases have been filed by public security organs nationwide, and 176 criminal suspects have been arrested, successfully dismantling this major cross-regional underground bank crime network involving 13 provinces and an amount exceeding 38 billion yuan. Currently, relevant cases are being further investigated and tried in various places. Among them, the principal offender in this case has been sentenced to thirteen years and six months of fixed-term imprisonment by the Leshan Intermediate People's Court.

ChainCatcher news, two men pleaded guilty in a U.S. court for a "Rug Pull" scam involving three Solana NFT projects in 2022, with amounts reaching $400,000. One has been convicted, while the other admitted to conspiracy to commit wire fraud and money laundering.The case involves the NFT projects "Undead Apes," "Undead Lady Apes," and "Undead Tombstone." The scammers used false statements to inflate project prices and attract investors. The projects raised nearly $400,000 in a short period. In April 2022, after minting 632 "Undead Tombstone" NFTs, the scammers suddenly shut down all project social accounts and cut off contact with the community, completing the "Rug Pull."

ChainCatcher news, according to Cryptonews, Thai authorities have cracked a cross-border cryptocurrency fraud case, which allegedly defrauded a local woman of over $620,000.According to local reports, the network spans Thailand, Cambodia, and Myanmar, operating a highly organized scam involving fake online investment opportunities, identity theft, and cross-border money laundering. Investigations reveal that the suspects used a fake investment chat group to lure victims, subsequently moving to private messaging applications to exert more control. In this case, the victim Mallika contacted the scammers through a public Facebook group and was ultimately persuaded to invest in a fake high-return cryptocurrency and stock portfolio, transferring a total of 21 million Thai Baht (approximately $621,000).The Thai Immigration Bureau has obtained arrest warrants and apprehended several suspects, and the case is still under further investigation.

ChainCatcher news, the Chongqing Fifth Intermediate People's Court recently concluded an appeal case involving drug trafficking using a new method of "Internet + virtual currency + logistics mailing."From August 2021 to July 2023, the defendant Zhang contacted drug buyers through WeChat and other means, primarily selling marijuana and "stamps" and other types of drugs. Zhang entrusted the packaged drugs to a dedicated person for safekeeping, and after reaching a transaction intention with the drug buyer, provided the buyer with a virtual currency website. After confirming the receipt of drug funds via virtual currency, Zhang would place an order with a certain express delivery platform, and the drug custodian would deliver the drugs to the buyer through the express platform, while Zhang paid the drug custodian a fee.According to statistics, Zhang placed orders through the express platform and had the drug custodian deliver drugs a total of over 1,600 times; received funds through virtual currency accounts a total of over 1,200 times; and withdrew the received virtual currency to his Alipay, WeChat, and bank cards after multiple transfers, accumulating over 400,000 yuan.The Chongqing Fifth Intermediate Court, after legal review, found that the first-instance sentence of eight years imprisonment and a fine of 100,000 yuan for the defendant Zhang for the crimes of drug trafficking and money laundering was appropriate, and upheld the original judgment.

ChainCatcher news, on October 25, the Ministry of Public Security held a special press conference in Beijing to report on the effectiveness of the measures taken by the national public security organs to combat and rectify ethnic asset unfreezing fraud crimes.Zhou Qiancheng, head of the Criminal Investigation Division of the Ningbo Public Security Bureau in Zhejiang Province, introduced that at the beginning of this year, Ningbo public security organs discovered that local residents were participating in the "China International Plum Blossom Association" ethnic asset unfreezing fraud project. Upon investigation, it was found that the suspects established an illegal organization called "China International Plum Blossom Association" as bait with high pension returns, recruiting participants from all over the country, and collecting fees under the names of "membership fees," "venue fees," "certificate fees," and "personal income tax," using virtual currency to launder money and illegally profit. The involved funds have been confirmed to exceed 58 million yuan.Currently, the case is still under further investigation.

ChainCatcher news, according to Portal Do Bitcoin, Argentina's Financial Information Unit (UIF) and the Securities Commission (CNV) have conducted on-site supervision of a Bitcoin and cryptocurrency exchange for the first time to identify risks related to money laundering, terrorist financing, and the financing of weapons of mass destruction.This inspection is part of the UIF's 2024 annual regulatory plan and took place at an undisclosed exchange in the city of Rosario, Santa Fe Province. According to Resolution No. 49/2024, virtual asset service providers are required to report to the UIF and register with the CNV. This move comes as Argentina increases its vigilance against cryptocurrency-related scams, with recent reports of unregistered platforms involved in fraudulent activities.