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A 33-year-old Serbian man has pleaded guilty to creating a dark web marketplace that raked in $18 million by selling over 30kg of meth and a host of other drugs in exchange for various cryptocurrencies, according to the Department of Justice (DoJ).  In 2019, Milomir Desnica launched Monopoly Market which, according to court records, presented itself as a typical online shop where users browse purchasable drugs under the categories of cannabis, ecstasy, opioids, prescriptions, and stimulants. Customers were required to buy the drugs with Crypto , such as Bitcoin or Monero, from individual vendors who made a commission on every sale. Desnica’s role included approving wannabe vendors. Police used crypto to buy drugs and expose the market In 2021, Monopoly Market began to collapse after US authorities placed several orders with the site and received over 100g of meth . Authorities in Germany and Finland subsequently helped seize the server hosting the site. Once confiscated, the co...

Despite falling below a threshold of $2 trillion in market capitalization last year, the crypto currency industry is again setting out on a promising path. Once again, crypto specialist Michaël van de Poppe shared his valuable insights into the current crypto market cap movements, as well as the next target in the future period, the analyst suggests it is aiming at a threshold of $1.8 trillion as the next milestone, in his post on X on November 8. Crypto market cap action analysis. Source: Michaël van de Poppe Notably, van de Poppe’s analysis of the crypto market cap chart patterns also signals that both higher highs and higher lows have emerged. With an expected consolidation of the market cap amid the $1.15 and $1.30 trillion range, the next target, he believes, is $1.80 trillion. Crypto market cap analysis Currently, market capitalization amounts to $1.34 trillion, recording an increase of 1.56% over 24 hours, coming off a robust 45.79% yearly increase, according to the data ...

Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), called for compliance from an industry he has frequently tagged as “rife with fraud”. Gensler advised cryptocurrency operators and service providers to stop tricking investors in his message to the digital industry on the Bitcoin white paper’s 15th anniversary.  Rhetoric from the SEC’s Chairman has consistently painted virtual currencies akin to the wild west, where bad actors defraud unsuspecting customers with the guise of decentralized technology.  The regulator’s short address saluted Satoshi Nakamato’s brainchild as the progenitor of crypto while throwing aspersions on the so-called anonymity achieved through blockchain networks.  If Satoshi Nakamoto went as Satoshi Nakamoto for Halloween, would we be able to tell? Happy 15th anniversary to Satoshi’s famous white paper that started crypto . Any crypto companies that are tricking investors should start treating them to compliance with the ...

In a groundbreaking move, the IRS has unveiled fresh regulations for reporting taxes on cryptocurrency in August. Should these regulations receive the green light, they are slated to take effect from January 2026. Paul Singh Grewal, the Chief Legal Officer of Coinbase, a leading crypto exchange, has rallied the crypto community to stand against the proposed tax reporting guidelines from the United States Treasury. Grewal passionately implored the community to resist these regulations, cautioning that they might establish a worrisome precedent for extensive surveillance. Expressing his concerns on X (formerly Twitter), Grewal delved into the potential issues tied to the suggested crypto tax reporting rules. He asserted that these rules extend beyond the mandate set by Congress for establishing tax reporting guidelines. Furthermore, he warned that if these regulations metamorphose into law, they could disadvantage digital assets and pose a threat to a burgeoning industry in its infancy...

Blockaid, a startup specializing in advanced crypto security , has successfully raised $33 million in a Series A funding round, with Bessemer Venture Partners at the helm. The round also saw participation from existing investors such as Coinbase Ventures, Innovation Endeavors, and Aleph VC. Blockaid was founded in 2020 by a team of former Israeli intelligence and cybersecurity experts who saw the need for a more advanced and proactive approach to crypto security. The startup uses artificial intelligence and machine learning to analyze crypto wallets’ behavior and reputation and detect and prevent malicious activities such as fraud, money laundering, ransomware, and terrorism financing. You might also like: Israel finds new ally in crypto amidst conflict Blockaid’s platform enables crypto exchanges, banks, regulators, and law enforcement agencies to monitor and trace the flow of funds across different blockchain networks and to identify and block high-risk wa...

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued sanctions on Buy Cash, a digital asset exchange located in Gaza used by Hamas for terror financing. Per a press release published on Oct. 18, the OFAC’s directive imposed sanctions on ten key Hamas members and financial cooperators across Algeria, Sudan, Turkey and Qatar. The treasury department cited a trail of transactions involving Bitcoin as authorities implement policies to choke off illicit funding via crypto . In September 2019, Buy Cash’s Bitcoin wallet received a Bitcoin transfer equivalent to over $2,000. The transfer was facilitated by a Türkiye-based money services business operator and al-Qa’ida affiliate. OFAC press statement The OFAC’s reference to trackable crypto transactions challenges the notion that crypto is a perfect tool for money laundering and terror financing. Such remarks were recently espoused by John Reed Stark, a former chief at the U.S. Securities and Exchange Comm...

FCF Pay’s X account finds itself in a state of suspension due to the rampant spread of misinformation regarding its supposed “partnership” with Honda, an alliance that has never materialized. Honda, the prominent automobile manufacturer, does not accept cryptocurrency payments directly. However, individuals can still employ cryptocurrencies like Bitcoin as a means to acquire a Honda vehicle through third-party intermediaries. In early October, various publications erroneously claimed that Honda had begun embracing cryptocurrency as a valid payment method. Contrary to these reports, a Honda spokesperson clarified to Cointelegraph, saying, “American Honda does not accept cryptocurrency as a form of payment. The recent reports suggesting a shift in this policy are inaccurate.” When queried further about their stance on cryptocurrency or any prospective plans for integrating crypto payments, Honda chose not to provide additional comments. Despite the unavai...

Despite the hype surrounding cryptocurrencies, few people are using the digital asset for its intended purpose — payments. Cryptocurrencies offer several advantages to traditional money, including lower costs, faster transfers, and decentralized systems that do not collapse at a single point of failure. Despite these benefits, many people don’t consider digital currencies practical for everyday use. Moreover, the currently available crypto debit card solutions often require tedious transfers and incur high fees, making the process unfeasible for everyday users. Leading crypto exchange Bybit wants to change that, promising to make using cryptocurrencies more convenient and rewarding for users. There are more and more companies accepting crypto currencies as a form of payment . While there has been some institutional interest, it hasn’t been enough for most businesses to start accepting digital currency transactions. As a result, it is difficult for a cryptocurrency user to make purch...

The latest delays came two weeks before the second deadline for many applicants. Despite United States Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres calling on the Securities and Exchange Commission (SEC) to immediately approve the listing of spot Bitcoin (BTC) exchange-traded funds (ETFs), the agency once again delay ed its decision .  When it comes to spot Ether (ETH) ETFs from VanEck and ARK 21Shares, the SEC delay ed making decision s until Dec. 25 and Jan. 10, respectively, while GlobalX will have to wait until Nov. 21 for the commission’s decision . It also delay ed deciding on the spot Bitcoin ETF applications of Invesco, Bitwise and Valkyrie until mid-January. The latest delays came two weeks earlier than the scheduled second deadline date for many applicants, who had been expecting to hear from the securities regulator by Oct. 16–19. The timing of the delays may have been related to the narrowly avoided U.S. government shutdown, which would have disr...

ImmutableX (IMX) price rose more than 30% after a top exchange listed the altcoin. While IMX still tops other crypto gainers in top 50 this past week, it has retreated from near $0.78, to $0.65 amid profit taking. ImmutableX (IMX) was among the hottest coins this week, skyrocketing more than 34% to top the list of gainers across the top 50 coins by market capitalization. With mega cap altcoins largely constrained, the price of IMX rose to near $0.78 – the highest level since August 2.  Listing on one of the world’s largest cryptocurrency exchanges might have triggered the buying pressure. Korean listing triggers IMX buyers Immutable is billed as the “future of Web3 gaming,” with decent traction for the ecosystem seen over the past several months. The launch of the Immutable zkEVM Testnet has added to this outlook as developers find it easier to build Web3 games. IMX has however not seen much upside amid broader crypto malaise s...

The Merge brought about a groundbreaking transformation for the Ethereum [ETH] network. It fundamentally altered the network’s structure, transitioning it from a proof-of-work [PoW] chain to a proof-of-stake [PoS] chain. However, the PoW chain, now represented by the native token ETHPoW, still coexists. In this evolving landscape, entities with significant holdings of ETH, including Grayscale, found themselves facing uncertainty. The firm was actively advocating for its claims regarding the post-merge proof-of-work Ethereum tokens. Nevertheless, in a recent announcement, the company disclosed that it has permanently relinquished all rights to ETHPoW tokens on behalf of the record-date shareholders of each product. Grayscale further wrote, “As such, it is not possible to exercise the rights to acquire and sell the ETHPoW tokens, and on behalf of the record date shareholders, Grayscale is abandoning the rights to these assets.” Following the Merge, Grayscale was exploring ...

Petra will add Coinbase Pay to its mobile and desktop applications. It expects the collaboration to help make crypto transactions more seamless. Petra has integrated into more than 160 decentralised applications to date. Petra – a crypto wallet by Aptos Labs – has decided to integrate Coinbase Pay into its mobile and desktop applications. What does it mean for the web3 users? The collaboration, it is convinced, will help make crypto transactions more seamless for the web3 users. According to Mo Shaikh – the Chief Executive of Aptos Labs told TechCrunch today: In order to grow the web3 ecosystem, everyday activities like financial transactions have to be easier. Consumer adoption does not happen without it. Full stop. Petra has already integrated into PancakeSwap, LayerZero, Pyth and about 160 other decentralised applications to date. Aptos had previously partnered with Sushi as well to secure access for users to non-EVM chains. Shares...

A small crypto trade r who used to trade with a bankroll not bigger than $5,000 was able to make over $300,000 profit in just a few days by trading a few small -cap crypto currencies that went through high volatility in a short period of time. According to previous on-chain data, the address used to trade with around $3,000 to $5,000. In 19 days, its balance went to as high as $362,000, then back to $275,000, with some right and wrong picks. This story was first told by the pseudonymous account dealer.eth (@dealerdefi), on X (formerly Twitter), on September 17, and this is how the anonymous trade r was able to accomplish it. In just 19 days, this #crypto wallet went from $3.2K to $313K I've been closely tracking him to uncover his secret. Here's how he did it pic.twitter.com/Wz1YZ0Z4bc — dealer.eth (@dealerdefi) September 17, 2023 Most profitable trades by this small crypto trader Notably, the highest profits came from a trade with Refinable (FINE), a $160,000...

The recent indictment of Tornado Cash developers brings the tension between crypto privacy and national security into sharp focus. What are the implications for the crypto world? One of the main issues affecting innovation is the potential for abuse by bad actors. Because of its pseudonymous nature, low cost, and ability to move vast sums, crypto has had its fair share of cases of misuse. Looking at the recent fiasco of Tornado Cash founders and the regulators, one could think that criminals are tipping the scales in the regulator’s favor.  A recent report by blockchain research firm Chainalysis found that as much as $23.8 billion was laundered using crypto currency in 2022. The report estimated that cybercriminals have laundered over $67 billion using crypto since 2015. That amount excluded funds from so-called “offline crimes” such as drug trafficking and illegal gambling and only comprised money from hacks and ransomware attacks. It means that the actual figure...

Meme coins reflect a higher beta to the entire crypto sector, but does their recent 25% price drop signal a deepening bear market for BTC, ETH and large caps? The recent crypto crash hit meme coins hard, culminating with a 9% drop in total market capitalization from Aug. 14 to Aug. 21. During the same period, Pepe (PEPE), Shiba Inu (SHIB), and ApeCoin (APE) saw a 25% decline. The big question is whether this trend will affect the wider market, signaling a broader bear market or simply reflects lagging performance of meme coins. Total crypto cap (blue) vs. Pepe/USDT (green), Shiba/USDT (red), Apecoin/USDT (orange), August 2023. Source: TradingView Meme coins, like Dogecoin (DOGE), burst onto the scene driven by viral memes and community enthusiasm. However, their appeal faded due to a mix of factors. These coins rely on media hype and online communities for attention, yet they lack value beyond their meme origins. Their speculative nature leads to rapid price changes and volatility. F...