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A UK street gang involved in fraud, drug dealing, and extortion is paying people to launch OneCoin-style memecoins and “dump” on their investors in order to launder illicit profits. Expert witness and drug crime specialist Gary Carroll, who revealed the memecoin laundering scheme to The Daily Mail, claimed that “mid-level” members of one particular gang are launching memecoins and have hundreds of thousands of pounds to fund it. Neither The Daily Mail nor Carroll were willing to reveal the memecoin in question in order to protect the identity of Carroll’s sources. He did, however, say that the gang is “not a household name,” while the paper conceded that the coin in question bears a “ passing resemblance” to OneCoin , the billion-dollar crypto pyramid scheme that spawned a worldwide manhunt.  Hayden Davis still making millions from LIBRA, MELANIA memecoins Read more: Andrew Tate struggles to pump memecoin amid Florida criminal inquiry The plot is active,...

Nigerian authorities have rescheduled the trial of Binance high-ranking executive Tigran Gambaryan to Sept. 2, which is a month earlier than the initial schedule.  The Nigerian court made the decision after Gambaryan’s defense team requested to expedite the hearing, citing health issues. Binance urges U.S. intervention as detained Nigerian executive's health worsens, hearing date moved up. The more we speak out, the more likely the Nigerian federal government will address this issue. Please support the Tigran family. Support #Freetigran + RT @Binance family pic.twitter.com/OuAA0lASQV — OMO 🔶 BNB (@Crypto_omo) August 27, 2024 Gambaryan was arrested on accusations of money laundering and financial crimes amounting to $34 million after being lured to Nigeria for a business meeting in February 2024. Gambaryan was arrested together with fellow executive Nadeem Anjarwalla, who later managed to escape, leaving Gambaryan to face the charges alone.  Rich...

Blockchain analytics firm Match Systems has made contact with an individual who is believed to be selling tokens linked to the recent CoinEx and Stake hacks at discounted prices. Blockchain analytics investigators have uncovered an individual linked to a cryptocurrency laundering operation that is offering stolen tokens at discounted prices from recent high-profile exchange hacks. Speaking exclusively to Cointelegraph, a representative from blockchain security firm Match Systems outlined how investigations into several major breaches featuring similar methods through the summer months of 2023 have pointed to an individual who is allegedly selling stolen cryptocurrency tokens via peer-to-peer transfers. Related: CoinEx hack: Compromised private keys led to $70M theft The investigators managed to identify and make contact with an individual on Telegram offering stolen assets. The team confirmed that the user was in control of an address containing over $6 million worth of cryptocurre...

Blockchain analysts warn of growing cooperation between Russia-based crypto exchanges and North Korea-linked hacking groups. Democratic People’s Republic of Korea hacker groups have been actively using Russia-based exchanges to launder crypto since 2021, as strict international monitoring of North Korea’s on-chain crimes limits the country’s possibilities of an enrichment capability. According to Chainalysis, a blockchain forensics firm, North Korean hacker groups are now “increasing their use of Russia-based exchanges” to launder crypto stolen from centralized exchanges or decentralized finance protocols. You might also like: North Korea linked to latest crypto hacks, surpassing $270m In a blog post on Sept. 14, the New York-based firm wrote that almost $22 million in crypto stolen from Harmony Protocol — a blockchain protocol exploited for roughly 100 million in crypto in Jun. 2022 — was recently transferred to a Russia-based exchange “...