Interpol’s Operation First Light, a global initiative involving 61 countries, has disrupted online scam networks by freezing 6,745 bank accounts and seizing assets worth 7 million, including million in cryptocurrency. The operation targeted phishing, investment fraud, fake online shopping sites, romance, and impersonation scams, leading to the arrest of 3,950 suspects and identifying 14,643 […]
Bitcoin News
UK Crackdown: Illegal Crypto Exchange Operators Arrested in £1 Billion Trading Bust
The UK Financial Conduct Authority (FCA), in collaboration with the Metropolitan Police Service, conducted an operation leading to the arrest of two individuals, aged 38 and 44, suspected of running an illegal crypto asset exchange. It is believed that over £1 billion of unregistered crypto assets were traded through this business, the FCA said on […]
Bitcoin News
Chinese Gang Arrested for Exploiting Digital Yuan
In Zhejiang province, China, a criminal gang exploited digital yuan accounts to illegally cash out over 200,000 yuan (,566) within four days. The digital yuan, or e-CNY, is the People’s Bank of China’s (PBOC) central bank digital currency (CBDC), which has experienced substantial growth in usage. Adoption has reached 260 million wallets across 25 cities, […]
Bitcoin News
Ukrainian Police Bust International Crypto Fraud Ring, 14 Arrested
Ukrainian authorities have dismantled a criminal ring defrauding citizens across Ukraine, Moldova, Kazakhstan, and the European Union through deceptive call centers promising lucrative cryptocurrency investments. The National Police of Ukraine detained 14 suspects, including the alleged organizers, and seized 12 luxury cars, 136 units of computer equipment, 951 SIM cards, 455 starter packs, and significant […]
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Founders of $400 Million Cryptocurrency Ponzi Scheme Arrested in Argentina
Two individuals, a woman and a man, were captured in Argentina on charges of having perpetuated a Ponzi scheme that moved over 0 million in cryptocurrency in Brazil. The operation managed to track the couple’s whereabouts with the help of the Argentine Federal Police and Interpol. Argentina Captures Couple Accused of Orchestrating a 0 Million […]
Bitcoin News
Crypto Platform Haru Invest’s Top Executives Arrested for Allegedly Embezzling $826 Million
The leadership of Haru Invest finds itself behind bars, facing allegations of defrauding 16,000 customers by embezzling hundreds of millions of dollars under the guise of offering safe, high-yield crypto investments. Haru Invest Executives Arrested for 6 Million Embezzlement South Korean authorities have arrested three executives of the crypto yield platform Haru Invest, including the […]
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Former Three Arrows Capital Executive Su Zhu Arrested in Singapore
Su Zhu, a founding member of the now-insolvent Three Arrows Capital, was apprehended in Singapore at Changi Airport on Friday, as per the firm’s liquidator, Teneo. Zhu received a four-month prison sentence for failing to cooperate in the bankruptcy proceedings, Teneo revealed.
Crackdown at Changi Airport: 3AC’s Su Zhu Detained, Associate Kyle Davies Fugitive
Teneo, overseeing the liquidation of Three Arrows Capital, reported that co-founder Su Zhu was seized and sentenced to four months’ incarceration. His associate, Kyle Davies, remains at large; however, Teneo confirmed he was given an identical penalty.
Zhu allegedly tried to flee Singapore when he was intercepted at Changi Airport, situated approximately 25 miles east of Singapore’s Downtown Core. The Singapore court decreed that Zhu and Davies had not been collaborating with the liquidation procedure – an issue previously reported by the media months prior to his apprehension.
The defunct Singapore-based cryptocurrency hedge fund once supervised over billion in assets at its height. However, a confluence of perilous trading tactics, Terra’s collapse, and plummeting cryptocurrency values obliterated the firm’s assets. Consequently, 3AC declared bankruptcy and was mandated to liquidate by a British Virgin Islands court on June 27, 2022.
Squawk Box posted on X that Kyle Davies, the co-founder of Three Arrows Capital, was asked if he was in Bali because Indonesia is one of seven countries that will not extradite him to the United States. While that interview was in November 2022, Davies is believed to be still in Bali.
What do you think about the 3AC co-founder’s arrest? Share your thoughts and opinions about this subject in the comments section below.
Bitboy Ben Armstrong Arrested During Live Stream Over Stolen Lambo
Crypto influencer Ben ‘Bitboy’ Armstrong has been reportedly arrested while livestreaming his attempt to confront a former business partner. Excerpts from the Youtube video released on social media show him explaining to police the reasons for his deed, including the alleged theft of his Lamborghini.
Bitboy Crypto Gets Detained in Front of Former Business Partner’s Residence
Crypto personality Ben Armstrong, also known as Bitboy Crypto, has been apparently arrested outside the house of an ex-business partner of his, Carlos Diaz. On Sept. 25, Armstrong appeared in front of his home where he was later met by law enforcement.
Bitboy livestreamed his attempt to confront Diaz on Youtube, alleging the latter had been extorting and threatening him while also having stolen his Lamborghini. The stream is interrupted while he is talking with police who arrived on the scene to search and question him.
NOW THIS IS THE CONTENT WE LIVE FOR. CRYPTO GRIFTER BITBOY SELF DESTRUCTING. BEAUTIFUL!
pic.twitter.com/tq2UlVT8kc
— Autism Capital
(@AutismCapital) September 26, 2023
During his conversation with the officers, Armstrong said he was unarmed but told them he had a gun in his car. He then revealed that a woman, whom he admittedly had an affair with, was also in the truck, adding she was “involved in the situation” and that his wife knew about it.
While members of the crypto community were buzzing with the news on X, formerly Twitter, adding details about the incident and even the full recording of the stream, a fresh listing by the Sheriff’s Department of Gwinnett County, Georgia was also shared in a number of posts.
According to the police record, which appeared online late on Monday, 40-year-old Benjamin Charles Armstrong was in jail. The booking was later updated to add a bond amount of ,600.
Carlos Diaz, a consultant on the non-fungible token (NFT) market and an investor, also confirmed Bitboy’s visit, posting security camera footage on X showing Armstrong walking in front of his house with a smartphone and knocking on his door.
@BenArmstrongsX Don’t know when to stop lying. #CarlosTheApe pic.twitter.com/5eH9nk4A75
— Carlos Diaz (@CarlosDiaz_22) September 26, 2023
The news of the arrest comes after late last month, Ben Armstrong was removed from the Bitboy Crypto Youtube channel and the brand with the same name. At the time, the parent company of Hit Network, which controls the popular channel, cited reasons such as Bitboy’s relapse into substance abuse and damages of various character he allegedly inflicted on employees and community members.
What are your thoughts on Ben ‘Bitboy’ Armstrong’s behavior and arrest? Share them in the comments section below.
Report: Dozens of Chinese Nationals Arrested in Libya for Operating Illegal Crypto Mining Farm
Around 50 Chinese nationals have reportedly been apprehended by Libyan authorities following allegations of running a cryptocurrency mining facility within the city of Zliten, local reports detail. Cryptocurrency mining is strictly prohibited by law in Libya. Libyan law enforcement officials have disclosed that the mining operation, situated in an abandoned iron factory, was effectively dismantled.
Illegal Cryptocurrency Mining Operation Busted in Libya, 50 Chinese Nationals Arrested
The New Arab, on June 23, 2023, published a report revealing the Libyan attorney general’s office’s announcement of the arrest of 50 Chinese nationals involved in crypto mining activities in Zliten. Siddiq Al-Sour, the attorney general (AG), shared visual evidence, including photographs and videos, showcasing the mining campus located in the eastern part of the Tripoli province. Furthermore, preceding the detention of the 50 Chinese individuals, ten individuals associated with the operation had already been arrested two days prior.
As reported by middleeasteye.net, the Libyan attorney general’s office has expressed concern over the operation, stating that it “violates the law” and highlighting the utilization of “high-energy devices [that] harness a large amount of material to mine cryptocurrencies.” Additionally, the report mentions that Libyan officials are actively seeking experts to evaluate the extent of the impact on the “public interest.” While both accounts confirm the arrest of 50 individuals, specific information regarding the number of dismantled machines has not been disclosed.
“The mining systems included a matrix of wires connecting digital conversion systems, data servers, fans, and high-voltage refrigerators,” middleeasteye.net staff writers declared.
Despite the official prohibition of cryptocurrency mining in Libya, the country continues to entice miners due to its highly advantageous energy conditions. With electricity costs as low as .004 per kilowatt hour (kWh), which amounts to less than a U.S. penny, it is still an attractive location for setting up mining operations. Interestingly, in 2021, Libya achieved the highest Bitcoin production rate among all African regions across the continent, despite the ban on the practice. Similarly, China, where crypto mining is also banned, still accounted for 20% of the global hashrate in May 2022.
What are your thoughts on the trend of cryptocurrency mining operations in areas where they are banned? Share your thoughts and opinions about this subject in the comments section below.
Arrested Bitzlato Exchange Founder Seeks Help From Crypto Community
The founder of crypto exchange Bitzlato, who is facing a money laundering case in the U.S., is seeking support from members of the community. Anatoly Legkodymov was arrested in January for his role in the trading platform which allegedly processed millions of dollars’ worth of illicit funds.
Bitzlato Founder Looking for Bail Guarantors in U.S.
Anatoly Legkodymov, one of the founders and majority owner of the Russia-linked cryptocurrency exchange Bitzlato, has turned to the crypto community, hoping to find U.S. citizens who would agree to become guarantors for his release on bail.
The Hong Kong-registered trading platform was disrupted in mid-January by law enforcement in Europe, where French investigators seized its servers and hot wallet while several of its employees and executives were detained in other countries.
Legkodymov, a Russian national residing in China, was apprehended in Miami on money laundering charges. The U.S. Justice Department claims his exchange transferred at least 0 million in criminal proceeds from ransomware actors, darknet markets, and crypto pyramids.
This week, Legkodymov issued his call for help through crypto media. U.S. law allows defendants to be released before a decision is made in their case, provided they find guarantors for their bail, his lawyers explained, quoted by the Russian crypto news outlet Bits.media. A group of Russian associates urged those who wish to help him to reach out on Telegram, stating:
The crypto community knows Anatoly as a decent, law-abiding person and wants to help him get out of prison on bail until the end of the trial.
A user by the name “Anatoly Legkodymov” has been active on the Bitcointalk.org forum since 2011, the report noted, as well as on the Bits.media forum since 2016, when the crypto entrepreneur and his partners started their trading business under the name Changebot which later became Bitzlato.
Legkodymov appeared in New York federal court for the first time in mid-March, when he was ordered held without bail. The Russian denies the U.S. money laundering charges.
Another Bitzlato co-founder, Anton Shkurenko, was briefly detained, questioned, and released by Russian police in February. In a Youtube interview, he revealed that Bitzlato intends to relocate to Russia and relaunch operations from there. Earlier this week, the exchange reportedly restored partial access to users’ BTC balances.
Do you think U.S. authorities will release Bitzlato’s founder Anatoly Legkodymov on bail? Share your thoughts on the case in the comments section below.