Law Enforcement in Russia’s Samara Region Investigates 8 Cases of Fraud Related to Finiko

Law Enforcement in Russia’s Samara Region Investigates 8 Cases of Fraud Related to FinikoThe investigation into the Russia-based crypto pyramid Finiko is growing with law enforcement officials in Samara region announcing they have launched eight criminal cases against Finiko associates. Authorities are also working to identify more victims of the Ponzi scheme, Russia’s largest in recent years. Finiko Members Under Investigation in Samara, Russia The Russian Ministry of […]

Suex Founder Loses Top Job Over US Sanctions, Major Exchange, Payment Provider Implicated

Suex Founder Loses Top Job Over US Sanctions, Major Exchange, Payment Provider ImplicatedThe scandal around sanctioned crypto broker Suex is growing in Russia where one of the co-founders of the OTC platform has been dismissed from his executive post at a bank. Meanwhile, an anti-drug organization has referred the case to the interior ministry and the central bank, asking authorities to investigate Suex’s connections with financial companies […]

Abkhazia Seizes 6,000 Mining Devices but Fails to Disrupt Crypto Mining

Abkhazia Seizes 6,000 Mining Devices but Fails to Disrupt Crypto MiningAuthorities in Abkhazia have confiscated thousands of mining machines, closing down all large crypto farms, yet they have admittedly failed to put an end to illegal mining operations. The breakaway republic of Georgia has been struggling with power shortages blamed on underground miners. 30,000 Rigs Remain in the Hands of Miners, Government Says In recent […]

Indonesia Will Not Ban Cryptocurrencies Like China, Minister Says as Crypto Trade Soars

Indonesia Will Not Ban Cryptocurrencies Like China, Minister Says as Crypto Trade SoarsAuthorities in Indonesia do not intend to follow China’s example of imposing an outright ban on cryptocurrencies, a government official said, noting the country will limit itself to ensuring they are not used in illegal activities. The statement comes after local crypto exchanges registered a serious increase in turnover this year. Indonesia to Tighten Regulations […]

Court Extends Detention of Finiko Pyramid Founder Doronin and His Right-Hand Man

Court Extends Detention of Finiko Pyramid Founder Doronin and His Right-Hand ManA court in Tatarstan has extended the detention of Kirill Doronin, founder of Russia’s largest Ponzi scheme in recent times, Finiko. Doronin will spend at least two more months in custody as authorities fear he could hide from law enforcement. Ilgiz Shakirov, vice-president of the crypto pyramid, remains under detention as well. Finiko Mastermind Doronin […]

10 Crypto Exchanges File for Registration With Korean Regulators Ahead of Deadline

10 Crypto Exchanges File for Registration With Korean Regulators Ahead of DeadlineCryptocurrency exchanges in South Korea have until midnight on Friday to register with financial authorities in order to continue operating legally. Only 10 digital asset trading platforms have already submitted their documents to the Korean anti-money laundering body. Compliance Deadline for New Korean Crypto Regulations Expires Friday Registering with Korea’s Financial Intelligence Unit (FIU) is […]

Bank of Russia Lists Crypto Companies Among Financial Pyramids

Bank of Russia Lists Crypto Companies Among Financial PyramidsThe Central Bank of Russia has recently expanded its database of financial market players suspected of illicit activities. Several crypto companies have been added to the list along with entities bearing signs of Ponzi schemes, as well as illegal credit organizations and forex dealers. Central Bank of Russia Blacklists Crypto Platforms As part of its […]

Blacklisted Suex Addresses Received Over $900 Million in Crypto, Report Reveals

Blacklisted Suex Addresses Received Over $900 Million in Crypto, Report RevealsCryptocurrency addresses allegedly used by Russian exchange Suex, recently placed under U.S. sanctions, have received more than $934 million in crypto assets, blockchain analysis suggests. According to the Treasury Department, over 40% of the platform’s transactions involved criminal actors. A Suex co-founder has denied any illegal activity. Sanctioned Crypto Broker Suex Processed $370 Million of […]

Central Bank of Ukraine Supports Crypto Industry, Fears Cryptocurrency

The National Bank of Ukraine recognizes the benefits of endorsing crypto innovations but also fears cryptocurrencies could gain ground on the national fiat. Announcing its monetary policy guidelines for the near future, the regulator noted it’s going to defend the status of the hryvnia as the only legal tender in the country. Bank of Ukraine […]

US Sanctions Russian Crypto Broker Suex for Laundering Millions in Illicit Funds

US Sanctions Russian Crypto Broker Suex for Laundering Millions of Illicit FundsThe U.S. Treasury Department has blacklisted Suex, a cryptocurrency broker based in Russia, for its money laundering activities. The platform is suspected of processing hundreds of millions of dollars in crypto transactions related to scams, ransomware attacks, darknet markets, and the infamous BTC-e exchange. OFAC Adds Russian Crypto OTC Exchange Suex to Blacklist The Office […]