NFT News by Thebittimes.Com

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...

The past few months have been characterized by prolonged downtrends in the crypto market. Amid the bearish environment, October has emerged as the month with the highest crypto scams and hacks, despite being in the 2nd week. The total value of hacks so far this month has surpassed that of March, and around $718 million has been stolen from DeFi protocols across 11 different hacks. Read More: ‘Uptober’ is More like Hacktober: Highest Crypto Hacks in 2022 South Korea keen to fight against crypto-laundering Now, in such an environment, taking action to prevent crypto -related laundering crimes or hack s is the need of the hour. In fact, regulators of different nations have been putting in efforts to protect the larger investor base. Now, according to reports, the five biggest crypto exchanges in South Korea have signed a “crypto crime-fighting” MOU deal with the nation’s police force. Reportedly, they will work with officers to fight against crypto-linked money launderers and ...