A collaboration between blockchain forensic company Elliptic, IBM Watson, and MIT researchers has led to significant progress in utilizing artificial intelligence (AI) for the detection of money laundering activities on the Bitcoin blockchain. As per a recent report published by Elliptic on Wednesday, the researchers employed a deep learning model to effectively identify instances of…

Fejiro Hanu, CEO of Patricia Exchange, has dismissed speculations regarding the exchange’s closure, attributing them to media sensationalism intended to drive online engagement. Notably, Patricia Exchange holds the distinction of being the pioneering platform to provide cryptocurrency exchange services in Nigeria. Hanu emphasized, “I am done speaking to these fake outlets. I will speak directly…

Patrick Gruhn, renowned as the former head of FTX Europe, has made headlines with his recent acquisition of a significant historical artifact: a gold pocket watch from the Titanic, purchased for an astonishing sum of nearly $1.5 million. This acquisition sets a new record as the highest amount ever spent at auction on a piece…

In 2023, the UK’s Financial Conduct Authority (FCA) took a significant step in its efforts to combat financial crime by allocating nearly a third, or 30%, of its financial crime specialists to monitor and regulate crypto asset businesses. This allocation, revealed in a report released on May 1, underscores the FCA’s recognition of the growing…

In a significant development, Riot Platforms, a prominent Bitcoin mining firm, has disclosed an outstanding net income figure of $211.8 million for the first quarter of 2024. This remarkable achievement represents an astounding 1,000% surge compared to the corresponding period in the previous year, showcasing the substantial growth trajectory of the company. Despite this impressive…

Yaroslav Vasinskyi, widely recognized as “Rabotnik,” a Ukrainian national, now faces a significant prison term of 13 years and seven months as a consequence of his involvement in orchestrating a series of ransomware attacks. As revealed in a recent announcement by the Department of Justice on Wednesday, Vasinskyi’s criminal activities spanned over 2,500 ransomware attacks,…

In a thought-provoking op-ed published by Politics.co.uk on Thursday, Alun Cairns, a Conservative Member of Parliament in the UK, has urged the Financial Conduct Authority (FCA) to reconsider its current stance on banning cryptocurrency exchange-traded products (ETPs) for retail investors. Cairns expresses his apprehensions about the UK potentially lagging behind in the global financial landscape…

On April 30, the United States Department of Justice made a significant announcement, revealing charges of tax fraud totaling $50 million against Roger Ver, a prominent figure in the early Bitcoin community often referred to as ‘Bitcoin Jesus.’ Roger Ver, renowned for his advocacy of Bitcoin and the creator of Bitcoin Cash, has played a…

Vice President Garba Umar, representing the Nigerian Central Bureau (NCB) of the International Criminal Police Organization (INTERPOL) for Africa, provided confirmation on Tuesday regarding the completion of extradition documentation for Nadeem Anjarwalla, a Binance executive who absconded from Nigeria. Appearing on the Nigerian television program Sunrise Daily, INTERPOL Africa’s Vice President, Garba Umar, affirmed that…

A smart contract vulnerability within the decentralized finance (DeFi) lending protocol Pike Finance has resulted in the theft of $1.6 million worth of cryptocurrency over a span of three days. On April 30, Pike Finance fell victim to an exploit totaling $1.68 million across multiple blockchain networks, including Ethereum, Arbitrum, and Optimism. The incident was…