Lens
Metaverse Platforms
South Korea’s media regulation agency has launched a council to discuss user protection on the metaverse, including the issue of sexual harassment targeting minors. Fast facts The council, under the Korea Communications Commission, consists of 30 professionals in media, law, technology and industrial management, and will discuss issues in the metaverse such as violence, sexual […]
Danny Park
Regulation
The amount of cryptocurrency used in money laundering activities increased 30% in 2021 compared to the year before, but represents a smaller portion of total transactions, according to an annual crypto money laundering report by Chainalysis, a blockchain data analytics firm. Fast facts Cybercriminals laundered US$8.6 billion worth of cryptocurrency last year, with the total […]
Dylan Butts
Regulation
South Korean police have provided global police agency Interpol with information on a crypto-related voice phishing case after receiving a purple notice on two international crimes that victimized locals, according to local media reports. Fast facts Last May, an individual was reported to be disguised as a public prosecutor to convince a victim to buy […]
Danny Park
Regulation
The total number of legal judgments involving crypto-related crime in China slightly dipped in 2021 to 5,137 cases, as the nationwide clampdown continues, according to a research report. Fast facts China’s legal system published 5,170 judgments in 2020, a significant leap from 3,474 in 2019, Chinese blockchain data tracker Zhongke Lianan found in its report. […]
Timmy Shen
Regulation
State-backed hackers from North Korea stole cryptocurrencies worth about US$395 million last year across at least seven cyber attacks, according to Chainalysis, a blockchain data company. Fast facts Several of the attacks were likely led by Lazarus, a group of hackers believed to be backed by North Korea’s primary intelligence agency, the Reconnaissance General Bureau, […]
Danny Park
Regulation
A computer database at a supermarket in eastern China is being held hostage by cybercriminals demanding 0.042 Bitcoin, which amounts to US$1,832, according to a Chinese media report. Fast facts
Ningwei Qin
Regulation
Prosecutors in South Korea are demanding life sentences for seven former executives of a now-defunct cryptocurrency exchange who were charged with defrauding investors of just under US$1.9 billion. The executives are not yet convicted, and the trial judge will deliver a verdict on Feb. 11. Fast facts The executives of V Global allegedly took about […]
Danny Park
Regulation
The Enforcement Directorate in India seized assets of a businessman worth around US$4.9 million in a money laundering case involving a crypto scam, according to a press release on Monday. Fast facts Nishad K and his associates allegedly perpetrated a crypto scam in which some 900 investors were cheated out of approximately US$162.4 million. The […]
Monika Ghosh
Compliance Challenges
The current technologies in use do little to deter crypto money laundering, writes Dr. Mark van Staalduinen. What can nations do about this?
Mark van Staalduinen
Economic Impacts
Cryptocurrency is fueling crimes like malicious mining and ransomware attacks, writes Andrew Brandt of Sophos. What can a company do to protect itself?
Andrew Brandt
