SEC created unit to combat cyber-based threats

The United States Securities and Exchange Commission created a squad to counter, in particular, violations related to ICO
26 September 2017   1045

As part of the fight against cybercrime, the SEC will create a unit that, in particular, will deal with violations related to distributed register technology and the field of initial coin offering. 

As it is reported in press release, The Cyber Unit will focus the Enforcement Division’s substantial cyber-related expertise on targeting cyber-related misconduct, such as:

  • Market manipulation schemes involving false information spread through electronic and social media
  • Hacking to obtain material nonpublic information
  • Violations involving distributed ledger technology and initial coin offerings
  • Misconduct perpetrated using the dark web
  • Intrusions into retail brokerage accounts
  • Cyber-related threats to trading platforms and other critical market infrastructure

Cyber-related threats and misconduct are among the greatest risks facing investors and the securities industry. The Cyber Unit will enhance our ability to detect and investigate cyber threats through increasing expertise in an area of critical national importance.
 

Stephanie Avakian
Co-Director, SEC’s Enforcement Division

The new unit will be led by former Co-Head of the Department for Combating Market Abuse of the SEC Robert Cohen. The new structure will also focus on problems that, in the opinion of the Commission, are often associated with crypto-currencies, namely, market manipulation and theft of confidential information.

Vinnik Extradtion to France to be Supported by SCoG

Alexander is holding the hunger strike for 24 days and lost around 9 kilos
19 December 2018   22

Following the trial court of the city of Thessaloniki, the Greek Areopagus decided to extradite Alexander Vinnik, suspected of laundering $ 4 billion through the BTC-e cryptocurrency exchange, to France. Thus, the appeal of Russian lawyers was rejected, reports TASS referring to the chairman of the court Angelique Aliferopoul.

After the announcement of the verdict, Alexander Vinnik declared that he would continue the hunger strike against the arbitrary rule of the Greek authorities, which began in mid-November.

I have been starving for 24 days. Yesterday I was weighed; according to the documents, I lost 8 kg. But they did not immediately begin to weigh me, only on the third day. So I lost 9 kg. If I'll be extradited to Moscow, I will stop starving.
 

Alexander Vinnik

Suspected

Alexander Vinnik was detained in Greece at the request of the American authorities on July 25, 2017. In June 2018, Vinnik was arrested in absentia in Russia on charges of cyber fraud on a large scale.

At the moment, there have been several court decisions on the extradition of Vinnik - at the request of the United States, at the request of France and two decisions at the request of Russia. The final decision on the case will take the Minister of Justice of Greece.