DOJ

Coinbase secures a $32 million contract with the DOJ to manage seized crypto

July 2, 2024 1 min read

The US Department of Justice’s asset forfeiture section, known as the US Marshal Service, has selected Coinbase as its custodian for digital assets with high market capitalization. Coinbase Prime will provide custody and enhanced trading services for its “Class 1” digital assets to assist federal law enforcement. The government requires dependable storage and liquidation methods to effectively handle and dispose of significant volumes of widely-used cryptocurrencies, referred to as Class

The US DOJ arrests Rui-Siang Lin and seizes $100M in crypto from his dark web drug market

May 23, 2024 2 mins read

In a massive crypto crackdown, the US Department of Justice (DOJ) detained 23-year-old Taiwanese Rui-Siang Lin. Lin, as Pharoah or Faro, runs Incognito Market, a dark web drug bazaar. Over $100 million in anonymous crypto drug transactions were facilitated by the site. Incognito Market, a dark web drug bazaar, debuted in October 2020, according to the indictment. Before closing in March, the site sold over $100 million in drugs. Users

Two brothers face charges for a $25 million Ethereum scam for exploiting trading bots

May 17, 2024 2 mins read

US authorities charged two brothers for a sophisticated Ethereum trading bot attack. On Wednesday, the Department of Justice (DOJ) charged Anton and James Peraire-Bueno with wire fraud, conspiracy, and money laundering. They reportedly stole $25 million in bitcoin in seconds using Ethereum. The brothers were detained in New York and Boston on Tuesday and will appear in court. The DOJ reported the April 2023 strike. The brothers targeted Maximum Extractable

The US DOJ selects FRA to monitor Binance after a $4.3 billion penalty for legal violations

May 13, 2024 1 min read

After Binance admitted to breaking U.S. anti-money laundering rules and was fined $4.3 billion, the DOJ appointed Forensic Risk Alliance (FRA) to supervise it. FRA beat Sullivan & Cromwell because of FTX’s failure. In the legal and crypto worlds, Sullivan & Cromwell was condemned for failing to discover serious fraud at FTX. FRA closely monitors Binance’s internal activities to comply with U.S. laws. They must report directly to the U.S.

The Department of Justice (DOJ) charges three people for stealing over $400 million from FTX exchange

February 2, 2024 1 min read

The US Department of Justice (DOJ) has charged three people for orchestrating a SIM-swapping attack, leading to the theft of over $400 million from a company, suspected to be the collapsed FTX exchange. The accused are Robert Powell, Emily Hernandez, and Carter Rohn. They allegedly conducted SIM-swapping scams targeting multiple victims from March 2021 through April 2023. The indictment, filed in the U.S. District Court for the Northern District of