Cryptocrime Digest (24 August 2020)
A weekly summary of news and commentary about criminal activity related to cryptocurrencies brought to you by Merkle Science.
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Our Top 5 Articles From the Week
Ukraine arrests gang who ran 20 crypto-exchanges and laundered money for ransomware gangs
Law enforcement in Ukraine has announced today the arrest of a cybercrime gang who ran 20 cryptocurrency exchanges where they laundered more than $42 million in funds for criminal groups. The group, which authorities said had three members, has been operating from Ukraine’s Poltava region since 2018. (ZDNet)
Hong Kong police arrest two men over online scams that cheated 22 people of nearly HK$3 million
Two jobless men have been arrested over online scams in which 22 Hongkongers, including students and professionals, were duped out of more than HK$2.8 million (US$361,272) over the past few months. (South China Morning Post)
Cryptocurrency from Coincheck cyberattack to be confiscated
Tokyo District Court has issued a protective order in anticipation of the confiscation of cryptocurrency assets believed to have been stolen in a cyberattack on Coincheck Inc., a Tokyo-based virtual currency exchange operator, it was learned Wednesday. It is believed to be the first such order issued for cryptocurrency assets in Japan. (The Japan Times)
Uber’s ex-security head paid $100,000 in Bitcoin to cover up hack, says FBI
In 2016, two hackers demanded a six-figure ransom for stolen personal data of 57 million Uber users and drivers. Joseph Sullivan, the former chief security officer at Uber, has been charged with paying a $100,000 ransom in Bitcoin to cover up a hacking attack that compromised the personal data of millions of Uber users and drivers back in 2016. (Fortune)
Warning issued after 78 Waterloo Region residents duped by Bitcoin scams in 2020
Waterloo Regional Police have issued a warning to residents after dozens of people have fallen victim to Bitcoin scams in the area. Police say scammers have been phoning people in the region while pretending to be representing Service Canada, Service Ontario, Canada Revenue Agency (CRA), and/or law enforcement agencies. The fraudsters attempt to scare people by saying they need to provide payment in cyber-based currency, also known as Bitcoin, in lieu of being arrested. (Global News)
Merkle Science News
An Interview with Merkle Science’s CEO by SE Asia Consulting
An interview with Merkle Science’s Co-Founder and CEO Mriganka Pattnaik on blockchain transaction monitoring and cryptocurrency compliance was published by SE Asia Consulting Pte Ltd.
Upcoming Webinar: Custody, Compliance and Risk Transfer — The Three-Pronged Approach to Protecting Digital Assets
Join us for a webinar panel discussion on Thursday, 10th September at 15:00 SGT (UTC+8) that will look at the the three pronged approach to protecting digital assets: custody, compliance and risk transfer. Panelists include:
- Mriganka Pattnaik, CEO and Co-Founder, Merkle Science
- Alexandre Kech, Chief Executive Officer & Co-Founder, Onchain Custodian
- Rory Young, Assistant Vice President, Global Cyber and Technology, Global Professional and Financial Risks, Lockton.
- Thomas Glucksmann, CEO & Founder, Asia Pacific Security.
Topics to be discussed:
- Brief history of digital asset security solutions
- Major security challenges and risks facing digital asset service providers
- The role of custodians and the current state of digital asset custody
- The intersection between AML and security compliance for digital asset businesses
- Insurance offerings for the digital asset ecosystem
- Why a three pronged approach is needed to protect digital assets
Following the panel discussion there will be an opportunity for audience Q&A.
Register here.
About Merkle Science
Merkle Science provides blockchain transaction monitoring and intelligence solutions for cryptoasset service providers, financial institutions and government agencies to detect, investigate and prevent the use of cryptocurrency for money laundering, terrorist financing and other criminal activities. Merkle Science is headquartered in Singapore with offices in Bangalore, Seoul and Tokyo and backed by Digital Currency Group, Kenetic, SGInnovate and LuneX.
