• Bitcoin extortionist jailed
    Sheep farmer Nigel Wright demanded bitcoin after putting metal in baby food (Photo: Tesco/Hertfordshire Police Department)
    People

    U.K. Bitcoin extortionist jailed for 14 years

    Sheep farmer contaminated baby food with metal and demanded a $1.8M in bitcoin from U.K. retailer

    October 12, 2020 /

    A plot to extort money from supermarket chain Tesco by contaminating baby food with broken-up blades of a craft knife and iron filings was fueled by bitcoin and ended with a 14-year jail term.

    Read More
  • BitMEX Reed $5 million bail
    The BitMEX cofounders may be out, but their bios are still up on the exchange's website (Photo: BitMEX)
    Cryptocurrencies,  Regulation

    BitMEX’s Samuel Reed released on $5M bail

    The cryptocurrency derivatives exchange’s CTO was one of four executives arrested on Oct. 1, when criminal and civil charges alleging insufficient money laundering protections were unsealed

    October 9, 2020 /

    Under the terms of his bail, Reed had to put up $500,000 in cash. In addition, both he and his wife had to surrender their passports. He can only travel in New York, Massachusetts, and Wisconsin, with parole office approval.

    Read More
  • cryptocurrency enforcement framework
    Attorney General William Barr brings the law enforcement hammer down on crypto (Photo: Department of Justice)
    Cryptocurrencies,  Regulation,  United States

    DoJ launches law enforcement guide to crypto

    The Department of Justice’s extensive report, ‘Cryptocurrency: An Enforcement Framework,’ singles out many of the challenges cryptocurrencies bring to law enforcement

    October 8, 2020 /

    U.S. Attorney General William Barr today released an 83-page report detailing the threats and challenges cryptocurrencies pose to law enforcement, and in some ways, it’s a doozy.

    Read More
  • Arthur Hayes indicted BitMEX
    BitMEX CEO Arthur Hayes is wanted for violating the Bank Secrecy Act (Photo: Twitter)
    Bitcoin,  Regulation,  United States

    Arthur Hayes out at BitMEX

    With its three co-founders under indictment for money laundering in the U.S., the Seychelles-based cryptocurrency derivatives exchange has dumped its leadership

    October 8, 2020 /

    CEO Arthur Hayes and co-founders Benjamin Delo, and Samuel Reed, as well as head of business development Gregory Dwyer, have stepped down after the U.S. Department of Justice indicted them for violating the Bank Secrecy Act and conspiring to violate the Bank Secrecy Act. The charges are based on what prosecutors say are deliberately weak and inefficient customer identification procedures.

    Read More