A landmark study by the Centre for Cybercrime Investigation Training and Research of the CID police in Karnataka has sounded the alarm on India’s cybercrime crisis, calling for urgent regulation of cryptocurrency to kerb spiralling losses. According to the study, unveiled at a senior police conference in Bengaluru on Friday, Karnataka recorded a staggering ₹2,915…
Man Pleads Guilty in Cryptocurrency Laundering Case A 43-year-old man living in Douglas, Cork, has been sentenced to two years in prison following a major international investigation into cybercrime. The man pleaded guilty to laundering cryptocurrency and engaging in multiple offenses involving the misuse of computer systems. His conviction is the result of an extensive…
Digital twins are revolutionizing industries like healthcare and manufacturing by creating virtual replicas of real-world objects and systems. These models help with real-time simulations, monitoring, and predictions. However, in the world of cryptocurrency, cybercriminals have found a way to weaponize this technology. By using digital twins to create synthetic identities, scammers are tricking crypto users…
The U.S. Treasury has blacklisted Cambodia’s Huione Group, accusing it of laundering over $4 billion in cybercrime-linked funds. The Treasury’s Financial Crimes Enforcement Network (FinCEN) identified Huione’s connections with North Korean hackers, cryptocurrency scams, and internet fraud syndicates. Other parties, including Google, Elliptic, and Cambodian authorities, confirmed Huione’s involvement in the alleged crimes. The US…
The US government is attempting to dismantle Cambodia’s Huione Group, a notorious financial network in Southeast Asia, to prevent laundered money from fueling cybercrime and hacking sponsored by states. The Treasury Department’s Financial Crimes Enforcement Network proposed a ruling that would block any US financial institution from opening or operating accounts for Huione or its…
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