NFT News by Thebittimes.Com

Ukraine National Police have raided a criminal call center network that promised phony crypto investments to unsuspecting victims, seizing luxury cars and arresting an individual with links to a so-called ‘thief in law.’  According to a translated announcement from Ukrainian police on Monday, authorities detained 14 suspects accused of defrauding victims across Ukraine, Moldova, Kazakhstan, and the European Union.  Following 40 searches across Ukraine , authorities seized 12 luxury cars, 136 units of computer equipment, 951 SIM cards, and funds totaling $64,500. As part of the operation, scammers called victims pretending to be employees at a stock exchange and, using ‘psychological techniques,’ persuaded them to invest personal funds into crypto. They then transferred the stolen funds to criminally controlled digital wallets and bank cards.  Footage shared by Ukraine police of the raids against members of the crypto scam call centre.  Read more...

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 move comes as several prominent Chinese blockchain executives have been arrested this year. After a surge in personal identity thefts and digital financial crimes, Chinese police are more closely scrutinizing the Web3 sector. During a press conference hosted by China’s Ministry of Public Security on Aug. 10, Jinfeng Sun, political commissar of the Network Security Bureau, said there had been a spree of incidents involving the use of Trojan viruses, phishing sites, infiltration tools and cyberstalkers in fraud and data theft. Specifically, Sun said: “[We have been] monitoring [the use of] Chat GPT, cloud computing, blockchain, deepfake AI and other new emerging technologies, new applications, new organizations [in these incidents]. We [the Ministry] will strike hard at such methods as we research their use. Sun disclosed that there had been 79 cases of fraud involving deepfake AI, such as impersonation via digital face-swap, leading to the arrest of 515 individuals. On July 18, S...