A&D Forensics Brief, January 20, 2023
A&D Forensics
Financial and Blockchain Intelligence Consulting, Blockchain Forensics, Crypto Investigations and Training Firm.
Regulatory and Crime News
Crypto lender Genesis files for Chapter 11 bankruptcy
In the Southern District of New York, cryptocurrency lender Genesis has filed for Chapter 11 bankruptcy. According to the Jan. 19 filing, the firm's estimated liabilities vary from $1 billion to $10 billion and its assets are in a similar ballpark.
Nexo agrees to $45M settlement with SEC and states over earn product
Nexo Capital, a cryptocurrency lender, has agreed to pay $45 million in fines to the North American Securities Administrators Association (NASAA) and the U.S. Securities and Exchange Commission (SEC) for failing to register the offer and sale of its Earn Interest Product (EIP).
In Crypto: £20m Blackpool Bitcoin fraudsters jailed
Following a £20 million Bitcoin fraud, members of a Blackpool gang were given prison terms. According to Lancashire Police, those responsible for the theft stole so much money that they struggled to spend it.
U.S. Authorities Arrests Founder of a Crypto Exchange on Money Laundering Charges
The founder and majority owner of the crypto exchange Bitzlato Ltd, Anatoly Legkodymov, has been arrested and charged by the United States Department of Justice for his alleged operation of a money-transmitting business that transported and transmitted illicit funds that failed to meet U.S. regulatory safeguards, including anti-money laundering requirements.
Binance Obtains Regulatory Approval to Provide Crypto Services in Poland
In an announcement made yesterday, January 19th 2023, Binance shared that it can now operate and provide services in Poland and fully complies with the local regulatory standards for virtual asset service providers in the country.
Google Ads-delivered malware drains NFT influencer’s entire crypto wallet
An NFT influencer claims to have unintentionally downloaded malicious malware discovered via a Google Ad search result, losing "a life-changing amount" of their net worth in nonfungible tokens (NFTs) and cryptocurrency.
Federal Consumer Protection Watchdog Stakes Out Crypto Turf
The U.S. Consumer Financial Protection Bureau looks fresh at crypto regulation despite earlier inertia. "Crypto is now becoming a vehicle of choice," agency director Rohit Chopra told the progressive think tank Americans for Financial Reform last month.
Ransomware Variants Are on the Rise, But Overall Gains Decline: Chainalysis
Cybersecurity firm Fortinet identified 10,666 new ransomware variants in the first half of 2022, compared to just 5,400 in 2021. In an anticipated twist of events, victims are becoming less willing to pay.
Ukraine to be the Best Crypto-Friendly Jurisdiction says Digital Minister.
Ukraine's Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov, during a press conference at the World Economic Forum held in Davos, Switzerland, said that the country will be the best crypto-friendly jurisdiction and that it is working on a regulatory framework for digital assets in the country which has been helpful since the invasion of the country by Russia.
E.U. Postpones Vote on MiCA Regulation for Crypto Assets Till April
The E.U.'s landmark Markets in Crypto Assets (MiCA) crypto regulations will see a final vote in April. The delay is a result of the translation of the almost 400-page file into the 24 official languages of the bloc. The postponement will likely cause a delay in pushing the new rules through.
CFTC Commissioner Cautions Against Self-Certification before Listing a Token by Crypto Exchanges
Christy Goldsmith Romero of the Commodity Futures Trading Commission has cautioned the U.S. senate from allowing self-certification by crypto exchanges contained in the Digital Commodities Consumer Protection Act (DCCPA) being deliberated. Goldsmith Romero asserted that self-certification could reduce the Commodity Futures Trading Commission's ability to oversee cryptocurrency exchanges.
US. Securities and Exchange Commission Accidentally Leaks Over 650 Crypto Miner's Details
The United States SEC has unintentionally leaked over 650 names and email addresses of crypto miners in an investigation involving a blockchain firm Green. Leaving crypto miners vulnerable to hackers.
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