ChainCatcher news, a Russian court has sentenced the founder of the online black market and cryptocurrency mixing service Hydra, Stanislav Moiseev, to life imprisonment. The service processed over $5 billion worth of cryptocurrency during its operation.According to a statement from the Moscow Prosecutor's Office on December 2, the Moscow Regional Court found Moiseev and his 15 accomplices guilty of organized crime and illegal production and sale of psychoactive substances and drugs. The sentences for Moiseev's 15 accomplices ranged from 8 to 23 years. Moiseev was also fined $38,100 (4 million rubles), while his 15 accomplices were ordered to pay a total of $152,400 (16 million rubles). As part of the sentencing order, properties and vehicles related to the convicted individuals were also seized.According to Russian state media TASS, they will serve their sentences in a "strict regime" penal colony.

According to ChainCatcher news, as reported by the Guangming Daily, the Ministry of State Security announced a case on November 8: Wang XX, a former public official at a sensitive unit, was considered a good young man by his unit and family. However, due to losses in virtual currency investments, he incurred huge debts and was lured and incited by foreign espionage intelligence agencies, gradually leading him down the path of crime.Through investigations by the national security agency, it was discovered that Wang XX provided top-secret and confidential national secrets to the other party, obtaining espionage funds equivalent to over 1 million yuan through methods such as virtual currency recharge and trading. Ultimately, Wang XX was sentenced to life imprisonment for espionage by the people's court, with lifelong deprivation of political rights.The unit where Wang XX worked did not strictly implement confidentiality management systems and protective measures, providing an opportunity for Wang XX to steal and supply secrets to foreign espionage intelligence agencies. The national security agency, in conjunction with relevant departments, will carry out joint law enforcement work on Wang XX's unit and order it to rectify within a specified time.

ChainCatcher news, according to Decrypt, South Korean financial regulators have issued a stern warning, stating that a life sentence will be imposed for cryptocurrency fraud cases that profit over $4 million (approximately 5 billion won). This warning was issued following the enactment of the South Korean "Virtual Asset User Protection Act" in July 2024, which aims to prevent cryptocurrency crimes, partly inspired by the events involving Terra/Luna founder Do Kwon and the collapse of the FTX exchange.In addition, the new law stipulates other penalties, including fines of 3 to 5 times the illegal profits, as well as a maximum of one year of imprisonment.

ChainCatcher news, according to Yonhap News Agency, the South Korean Financial Services Commission stated today that prior to the implementation of the "Virtual Asset User Protection Act" on July 19, a legislative notice for this law and the "Virtual Asset Industry Regulatory Guidelines" was issued on the 22nd of last month.According to the enforcement regulations and supervisory provisions, market manipulation, illegal trading, and trading based on undisclosed significant information related to virtual assets are prohibited. Violators may face criminal penalties of more than one year of imprisonment or fines ranging from three to five times the illegal gains. If the amount of improper benefits exceeds 5 billion won, the maximum penalty can be life imprisonment, along with a fine of twice the amount of improper benefits.

ChainCatcher news, according to China News Network, the Hangzhou Intermediate People's Court in Zhejiang Province publicly sentenced Xiao Yi, former member of the Standing Committee and Vice Chairman of the Jiangxi Provincial Political Consultative Conference, for bribery and abuse of power. The defendant Xiao Yi was sentenced to life imprisonment for bribery, deprived of political rights for life, and had all personal property confiscated. He was also sentenced to six years in prison for abuse of power, with the decision to execute life imprisonment, depriving him of political rights for life, and confiscating all personal property. The property obtained from bribery and its proceeds that were sealed and seized will be recovered according to law and turned over to the national treasury.The court found that from 2008 to 2021, the defendant Xiao Yi took advantage of his positions as the director of the Jiangxi Provincial Government's Beijing Office, the secretary of the Fuzhou Municipal Committee, and the vice chairman of the Jiangxi Provincial Political Consultative Conference to provide assistance to relevant units and individuals in matters such as project contracting, project development, and promotion, illegally accepting property totaling more than 125 million yuan, of which more than 57.82 million yuan had not yet been actually obtained. From 2017 to 2021, during his tenure as the secretary of the Fuzhou Municipal Committee, Xiao Yi violated the new development concept and national regulations by providing assistance to enterprises engaged in virtual currency mining in terms of financial subsidies, funding support, and power supply, resulting in significant losses to public property, national, and people's interests, with particularly serious circumstances and extremely adverse effects.Previous report, former vice chairman of the Jiangxi Provincial Political Consultative Conference Xiao Yi was expelled from the party for abusing his power to support enterprises engaged in virtual currency mining activities.