Cybercrime Gang Used BTC To Launder $1.24B

Cybercriminals from Russia and Ukraine attacked more than 100 financial institutions
27 March 2018   866

The Spanish police forces arrested a gang of russians and ukrainians nationals who are suspected in stealing more than $1.24 billion from financial institutions worldwide and converting them into Bitcoin (BTC). This is reported by Cointelegraph.

According to the Spanish police and Europol, the leader of the gang from Ukraine “Denis K.” and his three partners accomplices of Russian and Ukrainian origin, have been identified and arrested in the Alicante city. In 5 years criminals were able to still round EUR 1 000 000 000 ($1.24 bln) from financial institutions across the globe.

Criminal targeted more than 100 financial institutions; they alleged were able to get away every time with aroun 10 000 000 EUR. As alleged by police, almost all banks from Russian are the victims of the gang; about 50 of them did lose money in the attacks.

Gang used phishing emails with malicious attachments to bank officials to gain access to internal banking networks. Malware provided criminals with control over infected hardware, allowing them to compromise ATMs and use the machines to withdraw unlimited sums of money

Criminals didn’t spend the stolen cash but instead exchanged it into bitcoins. Once converted, the cryptocurrency was used for purchasing different assets, including real estate and vehicles in Spain.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   103

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.