NFT News by Thebittimes.Com

Illegal Malaysian crypto miners stole $722 million worth of electricity between 2018 and 2023, according to the country’s deputy minister of energy transition and water transformation. As reported by Malay Mail, Akmal Nasrullah Mohd Nasir revealed the figure at an event to mark the disposal of 2,022 seized items, including bitcoin mining equipment. “The theft of electricity by those who mine cryptocurrency occurs because they believe this activity cannot be detected due to the absence of meters on their premises,” said Akmal Nasrullah. He added, “Energy supply companies have various methods to detect unusual energy consumption in an area.” Weed and crypto behind record electricity theft in England and Wales Read more: Europol says alleged crypto miner made millions from stolen electricity He also claimed that stopping crypto miners from stealing electricity is a priority for Malaysia’s government. This is alongside boosting the production of renewable ...

Binance and its CEO have pled guilty to felony charges related to violations of the Bank Secrecy Act, failure to register as a money services business, and failure to maintain an effective anti-money laundering program. Under the conditions, Changpeng Zhao ( CZ ) has been forced to resign as Binance ’s chief exec. The crypto exchange will pay $4.3 billion in order to resolve these criminal charges.  Former Binance chief compliance officer Samuel Lim has also agreed to pay $1.5 million in civil penalties to the CFTC. Under the deal, Binance will be watched by “an independent compliance monitor” for the next three years, who will have the ability to see detailed information about Binance’s transactions and activities. Today, I stepped down as CEO of Binance . Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance , and for myself. Bi...

The Australian Federal Police (AFP) has accused Changjiang Currency Exchange of a money laundering scheme. In a press release, the AFP said the operation, codenamed Ironside, resulted from a three-year investigation into the activities of the currency exchange business. Changjiang Currency Exchange operated from multiple locations across Sydney and Melbourne. The company allegedly used sophisticated methods to conceal the origin and destination of the funds, which were linked to various criminal activities, such as drug trafficking, tax evasion, fraud, and money laundering . You might also like: Borroe Australia’s central bank seeks to explore CBDC use The AFP said the business was part of a transnational criminal network that used encrypted communication platforms and cryptocurrency to facilitate the movement of illicit funds across borders. The AFP worked with the Australian Taxation Office, AUSTRAC, the Australian Criminal Intelligence Commission, and international law...

A Thai man has been arrested near Bangkok for shoot ing his wife in the leg after a fight about losing their bitcoin investments, and subsequently barricading himself in his home for six hours as police surrounded the residence. Referred to as Kritsada by local outlet The Thaiger, the Thai man tried to kill his 31-year-old wife Pistamai after the couple argued over the loss of 700,000 baht ($19,500) in bitcoin investments. Fearing further violence, police negotiated with Kritsada instead of entering the home. He eventually surrendered. Officer Manas Atthadod from Uthai Police District said they had seized the .38 calibre gun Kritsada also used to shoot himself in the leg after shooting his wife. UK-registered crypto scam stole $76M from Thai investors Read more: FBI warns of fake jobs abroad that enslave victims for crypto scams Thai man charged with attempted murder over bitcoin loss It remains unclear which bitcoin investments Kritsada made. However, Thailand ’s Mini...

The Royal Canadian Mounted Police (RCMP) seeks a solution to streamline seizing and storing crypto currencies and NFTs. The solution aims to create a centralized repository that enables law enforcement to seize digital assets in a more accessible manner whilst also safeguarding them from theft. According to the announcement on Aug. 10, the desired system must meet 17 specific requirements. Key among these is the capability to process transactions for the top 20 cryptocurrency blockchains by market capitalization. Moreover, the system must be scalable enough to support new blockchains as they emerge. An inclusive data-sharing approach is also outlined to provide access to authorized users who require such information. You might also like: Canada requests feedback on new crypto asset rules Regarding NFTs, the RCMP acknowledges the significance of incorporating compatibility with major NFT platforms. Consequently, the solution is expected to support Ethereum (ETH), Solana ...

The agency responsible for Australia ’s national disability insurance scheme is waiting to discover if it’s been affected by a Russian-linked ransomware attack that saw hackers demand a $4 million Crypto ransom. Hacker collective APLHV (known also as Blackcat) announced back in April that it had stolen 3.6 terabytes (TB) worth of data from the law firm HWL Ebsworth. As of this month, 1.1TB worth of data has been posted online. According to AusTender contracts, HWL Ebsworth works alongside dozens of government agencies and is currently representing the NDIA in a series of legal appeals that have been brought against it. The agency itself also suffered a breach last year. Court papers reveal how the hackers sent the Crypto ransom to the legal firm via email, however, the first two ransom letters were caught by the company’s anti-spam filters . The firm only reacted to the threat after the dark web post became more widely known and a third email arrived. An NDIA s...