KYC

The US DOJ has charged Maximiliano Pilipis, the operator of crypto exchange AurumXchange, with money laundering and tax offenses. Alongside laundering allegations, Pilipis faces charges for failing to file tax returns on income earned in 2019 and 2020.

Cato Networks has raised concerns about the ProKYC deepfake tool, which allows criminals to bypass KYC checks by creating fake identities and realistic videos for cryptocurrency exchanges. This advanced fraud technique has led to significant financial losses, highlighting the need for stronger security measures in financial institutions.

OpenEden's tokenized U.S. Treasury bills on the XRPL, supported by Ripple, represent a pivotal development in the fusion of traditional and decentralized finance.

AI scams are rampant. Cryptocurrency exchange OKX recently revealed that hackers used AI to forge fake IDs and create fake video avatars, successfully breaching a user's account and stealing $2 million in assets. OKX responded that the case is currently under judicial process and details cannot be disclosed at this stage.

The individual identified by Pump.Fun as the former employee responsible for the recent $1.9 million exploit, has been apprehended and subsequently released on bail in London.

Alexey Pertsev, the creator of Tornado Cash, has been convicted of laundering $1.2B and sentenced to 64 months in jail, signalling potentially far-reaching consequences for developers working on open-source code projects.

As regulatory pressure mounts, an increasing number of privacy-centric cryptocurrency services are either discontinuing their operations or restricting access for users based in the US.

Chinese police arrest an identity forger involved in StarkNet cryptocurrency airdrop, who illegally obtained tokens and then converted them into USDT stablecoins.

US senators are urging renewed attention to the role of crypto in financing the purchase of child sexual abuse materials online, highlighting an issue they argue has escalated.

Since adopting crypto donations, two out of the three leading charities based in the US have amassed over $2 billion in contributions since the beginning of the year.