Listing Website Suspected For $0.5B Laundering in Crypto

At the moment, US DOJ seized Backpage. com and fully stopped its activity
11 April 2018   482

In the US, operators of the Backpage website, which was used to advertise sexual services, were accused of organizing and abetting prostitution, as well as laundering $ 500 million illegally obtained, including using crypto-currencies. In 2015, the site began accepting payments through the crypto-exchange Coinbase and Kraken, as well as payment instruments GoCoin, Paxful and Crypto Capital. This is reported by Cointelegraph.

Backpage Website
Backpage Website

By laundering the illegal gains of an enterprise, Backpage perpetuated the exploitation of victims and continued to finance their business.
 

Guy Cottrell

Chief Inspector, Post

The indictment states that the defendants “converted customer payments into and out of cryptocurrency” in order to hide their crime and evade law enforcement. But beyond the indictment, the crypto trail goes further, involving not only the defendants, but the sex workers who used the online hub as well.

At the moment, law enforcement agencies have stopped the operation of the web resource.

Caspian to Launch Crypto Derivatives Trading

Caspian does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x
21 March 2019   83

Caspian, an asset-oriented asset management platform, has launched cryptocurrency derivatives trading.

Thanks to integration with Deribit, Caspian customers gained access to trading in futures and options for Bitcoin and Ethereum. Also, the platform will provide the opportunity to trade indefinite bitcoin-swap.

According to Caspian, the platform does not charge commissions for depositing and withdrawing funds and provides leverage up to 100x.

We are excited to be working with Deribit to make the trading of crypto options and futures possible within the institutional community. Our goal at Caspian is to provide crypto traders and investors the same standard of tools and service that exist in the traditional markets and its great knowing that the team at Deribit is working towards the same high standards.
 

Robert Dykes

CEO, Caspian

Caspian noted that their platform connects to Deribit via an API that supports “large trading volumes with extremely low latency”. The platform also has full access to the book of orders of the crypto-derivative stock exchange.