Australian law enforcement bodies have uncovered a criminal gang allegedly involved in laundering millions of stolen funds through untraceable assets, including cryptocurrencies. According to an announcement published on Sept. 17, the Australian Securities and Investments Commission (ASIC) and the Australian Federal Police (AFP) have been conducting investigations into a major fraud and identity theft syndicate. The authorities allege that the syndicate purchased stolen data from darknet marketplaces and subsequently used it for identity theft. Purchasing of untraceable assets The syndicate allegedly created fraudulent bank accounts at various Australian banking establishments, with the news release adding: “The syndicate committed cybercrime offences …

The United States’ largest bank faced fresh ridicule from Bitcoin (BTC) circles this week after prosecutors said traders had conducted more market fraud. As Bloomberg reported on Sept. 16, JPMorgan Chase is facing an inquiry over the behavior of at least a dozen precious metals traders. JPMorgan performed “thousands” of illegal moves According to investigators, the employees willfully engaged in price-fixing of precious metals on thousands of occasions. Both market participants and JPMorgan’s own clients suffered losses as a result, they claim. “Based on the fact that it was conduct that was widespread on the desk, it was engaged in …

EY, the Big Four accounting firm appointed to work on the QuadrigaCX crypto exchange bankruptcy case, wants to move the proceedings from Halifax to Toronto. Local news outlet The Star reports on Aug. 28 that EY has asked a Nova Scotia Supreme Court judge to move the case to Toronto. The firm states that the involvement of four law enforcement agencies has added to the complexity of the case, which has shifted focus to entities based in Ontario. Bankruptcy proceedings began earlier this year when the exchange’s founder Gerry Cotten passed away unexpectedly in 2018. Cotten was the sole individual …

Bitcoin SV (BSV) proponent Calvin Ayre has come under fire once again after erroneously claiming that a court ruled Craig Wright created Bitcoin (BTC). Ayre: Judge just ruled Wright created Bitcoin In a tweet on Aug. 28, Ayre said the judge presiding over Wright’s recent court case decided he was Bitcoin’s creator, Satoshi Nakamoto. “Its nice timing to be out at the same time as Craig gets the Satoshi coins out of tulip trust. Also good timing with Judge just ruling Craig is Satoshi,” the tweet stated. Wright was in court over alleged theft of $10 billion worth of BTC. …

Disclaimer: The original Modern Consensus interview on which much of this article was based has been found to contain several inaccuracies and inconsistencies. Please be advised that the numbers — particularly the threat of a $2 billion BTC dump — are not necessarily factual. As of August 28, we have updated this piece to reflect that reality. Australian computer scientist and self-proclaimed Bitcoin (BTC) inventor Craig Wright, said that the estate of his former colleague will have tax issues with Bitcoins that they won from him in court case. The self-supposed Satoshi Nakamoto made his comments in an interview with …

A British judge has ordered the confiscation of $1.1 million worth of cryptocurrency from a hacker who used phishing attacks to steal personal data and sell it on the dark web. As The Telegraph reported on Aug. 23, judge Joanna Korner of Southwark Crown Court ruled that the police could confiscate $1.1 million worth of digital currency from Grant West. In his cyber attacks, West allegedly operated under the online pseudonym “Courvoisier” and used phishing emails to steal customers’ personal data — including financial data, as well as credit and debit cards details — before selling it on the dark …

India’s Supreme Court has slammed the country’s central bank over its handling of a cryptocurrency business ban and ordered it to address complaints. Judge: RBI has not properly responded to representation In the latest session of an ongoing hearing into the actions of the Reserve Bank of India (RBI) on Aug. 21, the court ruled that officials had not appropriately responded to concerns from the cryptocurrency industry over its actions. The RBI forbade banks from servicing crypto operators such as exchanges in July 2018 — effectively stopping such platforms from continuing to operate in India. On Wednesday, the move came …

The New York State Supreme Court has ruled that the New York Office of the Attorney General (NYAG) has jurisdiction over cryptocurrency exchange Bitfinex. According to a court filing on Aug. 19, this will allow the NYAG to continue its investigation of the exchange over allegations of fraud and misleading investors. In the filing, Judge Joel Coehn dismissed a motion by Bitfinex to terminate an action by the NYAG that would prosecute Bitinex under a New York law — the Martin Act. The NYAG originally alleged that Bitfinex and associated stablecoin firm Tether covered up an $850 million loss and …

The New York Federal Court denied the motion to dismiss the ruling in the trademark infringement action by cryptocurrency wallet and exchange operator Blockchain.com against fintech startup Paymium and its CEO Pierre Noizat over the use of domain “blockchain.io”. According to the court documents published on Aug. 7, the lawsuit, originally filed by Blockchain.com in September 2018, claimed that Paymium and its Blockchain.io platform not only infringed on the trademark, but also were involved in alleged unfair competition and false advertising. Blockchain versus Blockchain In February 2019, Paymium moved a motion “to dismiss the amended complaint for failure to state …

Elliot Gunton, aged 19 and of Mounteney Close in Norwich, pleaded guilty to supplying online personal data and hacking services for cryptocurrency. A hacker for hire A press release published on Aug. 16 by the Norfolk police reports that the man was sentenced to 20 months in prison and ordered to pay back more than £400,000 (over $485,000) by the Norwich Crown court. Per the report, the police seized his laptop in April last year after finding the software which allowed him to commit cybercrimes. The discovery was reportedly made during a routine visit to Gunton’s home due to a …

Software development behemoth Oracle is suing blockchain startup CryptoOracle, alleging trademark infringement and cybersquatting. Cybersquatting and trademark infringement Technology market news outlet Computer Reseller News (CRN) reported on Aug. 15 that Oracle sued CryptoOracle alleging trademark infringement and cybersquatting in the Northern District of California. Wikipedia states that cybersquatting “is registering, trafficking in, or using an Internet domain name with bad faith intent to profit from the goodwill of a trademark belonging to someone else.” The complaint filed by the tech giant reportedly claims that the startup’s name has been chosen “to trade on Oracle's reputation as an innovator and …

The developer of peer-to-peer messenger Bitmessage, Jonathan Warren, testified against Australian computer scientist Craig Wright, stating that some of Wright’s documents in a recent trial were faked. Per a court document released on Aug. 13, Warren testified in the course of an ongoing lawsuit against Wright filed by the estate of David Kleiman, who was a cyber-security expert, whom many believe to have been one of the first developers behind Bitcoin (BTC) and blockchain technology. Access to Bitmessage In the U.S. Southern District of Florida court, Warren confirmed his role in the development of Bitmessage, also claiming that neither Wright …