The detainment of two Chinese and one Argentine national involved in a .25 million crypto investment scam led to the discovery of a 0 million operation in Argentina. According to local reports, the investigation resulted in the raid of a supermarket that was used as a facade for conducting illegal cryptocurrency mining operations, with dozens […]
Bitcoin News
GoMining Secures Bitscale Capital Backing to Accelerate Its NFT-Based Bitcoin Mining Operation
PRESS RELEASE. British Virgin Islands / Wednesday / GoMining, the infrastructure company easing access to Bitcoin mining with its Liquid Bitcoin Hashrate protocol, has raised million through a direct investment from Bitscale Capital, a top international VC fund. The agreement will see Bitscale Capital acquire equity worth million, in the shape of GOMINING, […]
Bitcoin News
P2P XMR Exchange Localmonero/Agoradesk Announces Closure After Seven Years of Operation
In a recent announcement, Localmonero/Agoradesk, a popular platform for trading monero (XMR), has decided to wind down its operations after nearly seven years. The decision, influenced by a mix of internal and external factors, initiates a six-month winding-down process starting from May 7, 2024. Effective immediately, all new signups and ad postings are disabled, and […]
Bitcoin News
Operation Racer: Hong Kong Authorities Dismantle Cryptocurrency Laundering Operation
Hong Kong customs officers arrested three individuals involved in a HK.8 billion (8 million) money laundering operation that utilized a cryptocurrency platform and bank accounts of shell companies, with investigations revealing suspicious activities such as abnormally frequent large transactions in accounts with no clear financial backgrounds. The suspects, who did not know each other, allegedly […]
Bitcoin News
Spanish Police Crack Down On Crypto-Based ISIS Funding Operation
Spanish police successfully dismantled a network involved in financing ISIS through crypto transactions, resulting in the arrest of five individuals over the weekend. The operation, part of a two-and-a-half-year investigation, targeted individuals allegedly connected to the terrorist organization known as DAESH or ISIS.
The arrests were made in Valencia (2), Cáceres, Alicante, and Guipúzcoa. Four of the suspects have been remanded in custody by court order.
Global Network Financing ISIS Via Crypto?
According to the official statement of the Spanish national police, the operation marks the second phase of “MIYA,” an initiative launched in 2021 by Spain’s National Police General Information Commissariat (CGI).
The investigation received collaboration from intelligence and security services in twelve countries, including the Moroccan Surveillance du Territoire (DGST), the Algerian Direction Générale de la Sécurité Intérieure (DGSI), the Mauritanian Direction Générale de la Sûreté Nationale (DGSN), the US Federal Bureau of Investigation (FBI), Swiss FEDPOL, and EUROPOL.
Within Spain, the CGI worked closely with its Provincial Information Brigades in Valencia, Alicante, Cáceres, and San Sebastián and the National Intelligence Center (CNI). The Central Court of Instruction number 6 and the Prosecutor’s Office of the National Court coordinated the investigation.
The initial phase of the operation, conducted after a year and a half of investigation, uncovered a person of Maghreb origin residing in Spain who was in contact with a jihadist seeking to carry out an attack in France on behalf of DAESH. The Spanish individual offered their collaboration to the radical extremists.
The CGI’s counterterrorism experts located the intended attacker in Switzerland and promptly shared the information with the Swiss FEDPOL. A joint operation was swiftly organized, resulting in the simultaneous arrest of the two individuals in March 2022, along with six others across Europe and the Maghreb.
The detainee in Spain was subsequently sentenced to two years in prison for terrorism-related charges and released in mid-2023.
Following the initial phase, CGI analysts discovered that the two detainees were part of an international network supporting DAESH, spanning multiple continents, including Afghanistan, the Middle East, Sahel, Maghreb, and Europe.
The network allegedly obtained funds through criminal activities in Europe to finance their terrorist operations with crypto. Large sums of money were moved through international transfers and crypto, with authorities seizing nearly 200,000 euros worth of digital assets.
Five Suspects Arrested
According to the official statement, members of the network also engaged in indoctrination, attempting to recruit new followers to the jihadist cause and providing support to individuals expressing a desire to carry out terrorist attacks.
The investigation uncovered evidence suggesting the network’s involvement in planning at least two attacks, ultimately foiled by security services.
The recent arrests in Spain mark the conclusion of the investigation, with five individuals taken into custody. One of the suspects exhibited signs of radicalization in recent months and had expressed a desire to carry out an attack.
During a search of the individual’s residence, authorities discovered handgun ammunition, an ax, manuals for making explosives, manuals for indoctrinating minors, and jihadist propaganda.
As of the current update, the total market capitalization of the cryptocurrency market is .525 trillion, reflecting a decline of over 2% within the past 24 hours.
Featured image from Shutterstock, chart from TradingView.com
Minnesota Power Co-op Accuses Couple of Major Electricity Theft for Bitcoin Farm Operation
In a case that intertwines crypto mining and utility theft, a Minnesota power company, North Star Electric Cooperative, has accused a former couple, Ryan Jaenicke and Tina Fehlhaber, of stealing vast amounts of electricity. The alleged scheme, detailed in a 19-page civil suit filed in Roseau County Court, was purportedly to power a bitcoin farm in Roosevelt. This revelation follows North Star’s discovery last year of a significant loss of power in its distribution network.
Alleged Utility Theft for Bitcoin Mining Leads to Lawsuit Against Minnesota Couple
According to a report, North Star, a not-for-profit, member-owned power distribution cooperative, first noticed a substantial loss of electric power in June 2022, sparking an investigation. During a routine inspection in May 2023, employees uncovered non-North Star equipment connected to their lines in Roosevelt, leading to a property owned by Fehlhaber. Inside, they found two unauthorized 50 kilovolt-ampere transformers and over two dozen cryptocurrency mining units.
Jaenicke, known for his Youtube channel “Degenerate Passive Income,” is accused of being the mastermind behind this operation. In his videos, he often discussed cryptocurrency as a lucrative passive income source, even showing off his mining farms. However, it’s alleged that the Roosevelt farm operated on stolen electricity from North Star, resulting in losses potentially amounting to hundreds of thousands of dollars.
The lawsuit uploaded by theminermag.com and brought forth by North Star details the extensive nature of the alleged theft. It’s unclear if others were involved in what appears to be a well-orchestrated scheme. Additionally, attempts by Jaenicke to allegedly bribe a North Star employee for more power access were rejected. While the Roseau County Attorney’s Office initially declined to prosecute due to insufficient evidence, this decision could change if new evidence emerges.
North Star’s lawyer, Joel Fremstad, emphasized the severity of the theft, comparing the electricity consumption to that of a school or a commercial building. The cooperative has disconnected the unauthorized equipment and reported the case to law enforcement. They are seeking at least ,000 in damage compensation and the disgorgement of all profits obtained through the alleged electricity theft.
“At the heart of it we see theft and greed,” the lawyer for North Star told the news publication inforum.com.
Jaenicke, owner of Northland Tire in Roseau, and Fehlhaber, have not been reachable for comments. Local reports note that the couple, who recently separated, could face significant financial repercussions if found liable. Under Minnesota law, they could be forced to pay double the amount of electricity stolen plus any profits from the crypto mining.
What do you think about the couple accused of stealing electricity to mine bitcoin? Share your thoughts and opinions about this subject in the comments section below.
How Hamas Lost its Crypto In An Israeli Operation, Binance Supports Security Forces
Israeli law enforcement launched an operation targeting crypto addresses associated with the terrorist group Hamas. The country suffered an attack this past Sunday, leading to deaths and many civilians disappearing.
Binance And Israel Work Together To Freeze Crypto
A local news media Calculist report confirmed an operation led by the Israeli Police Department and the National Counterterrorism Headquarters, part of the Ministry of Defense. The operation was supported by the world’s largest crypto exchange, Binance.
During the operation, the law enforcement agencies discovered funds raised by the terrorist group via crypto donations. The investigation led the cyber unit from the Israeli Police to the crypto trading venue.
The terrorist group launched the campaign in the past few days. The law enforcement agencies claimed that Hamas used the attention from Sunday’s attack to raise money from radicals and supporters worldwide.
The terrorist group, the report claims, turned to social media platforms to launch the campaign. A spokesperson for the law enforcement agencies told Calculist the following regarding the events:
As the war broke out, Hamas launched a fundraising campaign on social networks, asking the public to deposit crypto into its account. The cyber unit and the NSC have been working immediately to locate and freeze the accounts, assisted by the Crypto Exchange (Binance), to freeze the funds (…).
The report claims that Binance has been aware of Hamas’s operation on its platform. In a separate report from CoinDesk, some data suggests previous cooperation between Binance and Israeli law enforcement.
The company helped Israel to freeze almost 200 accounts connected to Hamas and other terrorist groups. A spokesperson for the crypto exchange told CoinDesk:
Over the past few days, our team has been working in real-time, around the clock to support ongoing efforts to combat terror financing. We are committed to ensuring the safety and security not just of the blockchain ecosystem, but also the global community, through our proactive work.
Following the events of the past Sunday, the conflict between Israel and Hamas escalated. The nation-state declared war on the terrorist organization and appeared to be preparing to increase its offensive on the Gaza Strip in response to the terrorist group.
In this context, the cooperation between Binance and local enforcement seems likely to increase. Israel will fight Hamas across all sectors, including the nascent industry and its related companies and tools.
Cover image from Unsplash, chart from Tradingview
Shiba Inu’s Shibarium Returns to Full Operation After Navigating Bridge Issues
The Shiba Inu development team has announced that Shibarium is now fully functional after recent challenges where funds became inaccessible in the bridge. Shiba Inu’s Shytoshi Kusama thanked Sandeep Nailwal, the co-founder of Polygon Labs, who stepped in with crucial resources to address the issue.
Shibarium Back Online After Resolving Bridge Glitch, Team Thanks Polygon Co-Founder
Two weeks prior, Shibarium had faced difficulties with over million in cryptocurrency deposits trapped in its bridge. However, on August 28, an update was shared via a blog post confirming that Shibarium’s layer two (L2) was back in action.
It highlighted that Sandeep Nailwal and the Polygon team were instrumental in resolving the situation. “Quickly after the incident began, I called Sandeep from Polygon directly and without a second thought, he helped provide additional resources to ensure a perfect outcome to the situation,” remarked Shiba Inu’s Shytoshi Kusama.
The blog further specified that transfers involving SHIB, LEASH, and WETH would span 45 minutes to 3 hours, while a BONE withdrawal would take up to seven days. In recent weeks, SHIB dipped 14.9% against the U.S. dollar.
However, a glance at the last seven days reveals a rise of over 6% following the wider crypto market uptick after key updates from the Grayscale lawsuit against the U.S. Securities and Exchange Commission.
As of August 29, SHIB claims the title of the second-largest meme coin by market cap and ranks 16th in the global crypto market. The meme token’s market valuation stands at approximately .94 billion with 8.55 million in global trade volume.
Data from the Shibarium explorer as of 5:00 p.m. Eastern Time (ET) shows the existence of 157,685 wallets. With a block time set at every five seconds, 358,738 blocks have been mined to date. Moreover, the platform has logged more than 490,000 transactions, with over 132,000 taking place just on August 25, 2023.
What do you think about Shibarium coming back online after the initial bridge issues? Share your thoughts and opinions about this subject in the comments section below.
Binance Celebrates Significant Milestone After Six Years In Operation
Binance, the world’s largest crypto exchange by trading volume, has achieved another significant milestone. The firm, which recently turned six, keeps racking up several achievements despite the FUD that has surrounded it in recent times.
A Worthy Feat For Binance
The world’s largest crypto exchange by daily trading volume has recently disclosed that its registered users now stand at a whopping 150 million. This was revealed in a tweet by its CEO, Changpeng “CZ” Zhao, on Thursday.
In the tweet, CZ noted his company’s milestone amidst growing regulatory scrutiny of its operations the world over. However, despite navigating through different challenges, Binance has managed to captivate the interest of several millions of users around the globe. So this is a testament to the platform’s quality service delivery and amazing features.
Just over a year ago, in July 2022, the exchange’s user base stood at about 120 million. The astonishing growth of 30 million users within the span of just 12 months tells of Binance’s undeniable hold in the constantly evolving cryptocurrency ecosystem.
A cursory look at the platform’s traffic data for the last three months shows that the top five nations contributing to this spike are Vietnam, India, Russia, Turkey, and Argentina. The increased expansion across various diverse geographies demonstrates the heightened acceptance and penetration of digital currencies.
Navigating Regulatory Challenges
As expected, with growth comes challenges and Binance’s journey has not always been all growth and triumph. The platform has been the subject of various legal challenges across diverse jurisdictions.
The exchange was recently charged with “will evasion” and fraud by the United States Securities and Exchange Commission (SEC) in June this year. In Europe, Binance is under probe by French regulators who accused the platform of engaging in money laundering. It has also been ordered to cease rendering crypto services by Belgium’s financial watchdog.
In China, the services of the platform are restricted and inaccessible to millions of users within the country. Binance has also withdrawn its license applications and canceled its registration bids in several countries.
However, Binance has been able to make some gains in recent times. Earlier this month, it restored services in Japan, following the purchase of the local exchange Sakura Exchange BitCoin (SEBC) in November 2022. It has also been given a license to render cryptocurrency services in Dubai.
All these hurdles make the latest milestone not only remarkable but testamentary. The road to 150 million registered users has been paved with various challenges, but Binance has so far emerged victorious and triumphant.
Crypto Mining Crackdown in Malaysia: Sarawak Police and Energy Plant Dismantle Illegal Mining Operation
A covert cryptocurrency mining operation, suspected of electricity theft, was uncovered in a Marina Square shophouse in Miri, Malaysia. Representatives from the Sarawak police and Sarawak Energy plant revealed that the successful operation was made possible by a tip-off from the public.
Malaysia’s Sarawak Energy and Police Uncover Illegal Crypto Mining Camp in Miri
The state utility company, Sarawak Energy, and the local police department announced the dismantling of an alleged unauthorized crypto mining camp set up in Miri, Sarawak, Malaysia. Authorities captured roughly 34 application-specific integrated circuit (ASIC) miners and their associated connections.
“All the equipment used for the mining operation, including the direct tapping cables and servers, were seized. A police report has been lodged and an investigation is currently underway,” Sarawak Energy stated.
Compared to other global regions, electricity rates in Malaysia are relatively low. As such, Sarawak Energy reported a surge in electricity theft incidents over the last few years. This specific case is estimated to have cost the energy plant RM6,000 per month (,317).
“Electricity theft is a serious offence under Section 33(5) of the Electricity Ordinance, which carries a penalty of up to RM100,000 and/or five years’ jail if found guilty,” warned Sarawak Energy. Recently, Malaysian officials cracked down on three additional power theft schemes connected to crypto mines in Senadin.
Allegedly, 137 ASIC devices were seized from these sites while law enforcement continues their investigation. In February 2021, Malaysian authorities apprehended seven individuals for pilfering .15 million worth of electricity to mine Bitcoin. In July 2021, Malaysian officials demolished over .2 million in Bitcoin mining equipment after confiscating them for illegal operation.
That same month, officials in Miri City, Sarawak seized 1,069 rigs from miners accused of stealing electricity for their operations. A report released on July 27 indicates that Sarawak Energy possesses the necessary tools and meter inspection teams to detect such thefts, including underground direct tapping and tampered meters.
The report detailed that the energy company further noted that it also relies on public tips and encourages locals to continue reporting any suspicious activity to the Sarawak Energy customer care center.
What do you think about the mining operation bust in Miri? Share your thoughts and opinions about this subject in the comments section below.