CipherTrace Report on the Bank and Crypto Exchanges Fraud by Two Chinese Hackers

Recently, CipherTrace released a detailed analysis of how two Chinese nationals laundered stolen crypto through various banks and crypto exchanges.  The two Chinese national hackers are Tian Yinyin and Li Jidong. The two hackers got charged with money laundering conspiracy and operating an unlicensed money transmitting business by the US Department of Justice. The Technique Used to Carry out the Fraud as per CipherTrace CipherTrace reported that the two Chinese hackers used a technique known as ‘peel chains’ to hide…

Ethereum Researcher Virgil Griffith Pleads Not Guilty of Aiding North Korea Evade Sanctions

At the beginning of the year 2020, Virgil Griffith, an ethereum researcher, got accused due to traveling to North Korea and purportedly aided the country to evade sanctions. Griffith got arrested by the FBI last year for allegedly traveling illegally to North Korea. Prosecutors said that Virgil Griffith used blockchain and cryptocurrency to assist North Korea in evading sanctions. He got charged with violating the International Emergency Economic Powers Act. On the 30th of January 2020, NK news reported that…