Two New Yorkers have recently pleaded guilty in a new Bitcoin laundering case which saw more than $3 million stolen in a drug-infused scheme. Named Callaway Crain and Mark Sanchez, the Bitcoin scammers are in the latest cryptocurrency news for earning money by selling steroids and controlled substances – mostly in Bitcoin. Their first arrest was about a year ago.
What the police found in this Bitcoin laundering scam was Crain and Sanchez as the main mobsters operating with this scam on the dark webs. They first left New York in 2015 to continue their enterprise in Texas. Right now, the guilty plea has given them guaranteed sentences of 7.5 years for each and no less than 2.5 years accordingly.
The New Yorkers are convicted of a second degree money laundering and fifth-degree drug trafficking, both felonies in this new Bitcoin laundering case. As a note shared on the Manhattan District Attorney’s page shows, the two New Yorkers manufactured the steroids themselves in private residences – selling them to at least one NFL player and a few other prominent people.
Crain and Sanchez even sold their drugs to police officers. The note explains the new Bitcoin laundering case in detail:
“The defendants purchased steroids, precursor chemicals, and other controlled substances wholesale from China and other countries. After obtaining the chemicals and substances, they mixed, pressed, and packaged them, often under brand names they created; advertised and sold them online; and shipped them to customers in all 50 states and sixteen countries. Their customers included a college football player, an NFL football player, a professional volleyball player, fitness trainers, police officers, members of the armed services deployed overseas, body builders, drug dealers, doctors, lawyers, and a high school athletic coach.”
However, what the notice fails to mention is the name of the exchange the men used to convert from crypto to cash. Even though this new Bitcoin laundering case was re-shared on many best cryptocurrency news sites, we see no link to an exchange. Some report that the scammers just hopped the coins to an intermediary wallet before depositing them on exchanges.
“Customers also made payments through Western Union. Those payments were laundered through the use of false identities, or through international wire transfers from foreign-based receivers,” the notice states.
In total, there were about 10,000 orders moved to 16 countries – even though the business was primarily set up in the United States. Therefore, this is one of the biggest Bitcoin laundering cases and luckily, the scammers have been caught.
Dutch Crypto Scammer Steals $2.2M In BTC Mining Fraud
Firefox Quantum Browser Adopts New Anti Cryptojacking Features
"Today’s new Firefox release continues to bring fast and private together right at the crossroads of performance and security. It includes improvements that continue to keep Firefox fast while giving you more control and assurance through new features that your personal information is safe while you’re online with us," the Firefox Quantum release notes.Previously, Mozilla warned its audience that websites can deploy scripts that may launch a crypto miner on any user's machine - even without them being aware. This practice is known as cryptojacking in the world of cryptocurrency. In order to combat these practices, the Firefox Quantum was developed as a product of partnership between Mozilla and the online privacy company Disconnect. The crypto mining blocker was created to block people on their browser. As of now, users can toggle an opt-in feature that would block would-be cryptojackers from taking advantage of spare computing power and mining cryptocurrencies. Users can take a look and see how much faster Firefox is today at the following video, which went viral on many best cryptocurrency news sites because of the anti-cryptojacking features. https://www.youtube.com/watch?v=NzqJ09_cn28 In August 2018, Firefox featured cryptojacking protection - to later update them in its Nightly 68 and Beta 67 versions which emerged this April, just before the launch of the Firefox Quantum browser. The open-source Quantum also aims to mitigate the practices of so-called "fingerprinting" which makes a sort of a digital fingerprint of a user that is employed in order to monitor their activities on the Internet. In another report published in the altcoin news on April 23 by the cybersecurity company MalwareBytes, cryptojacking was called "essentially extinct" and:
“Marked by the popular drive-by mining company CoinHive shutting down operations in early March, consumer cryptomining seems to have gone the way of the dodo. Detections of consumer-focused bitcoin miners have dropped significantly over the last year and even from last quarter, while business-focused miners have increased from the previous quarter, especially in the APAC region.”So, the steps that Mozilla took in its Firefox Quantum definitely ramp up the browsing experience from a crypto perspective.
Crypto And Forex Scams Got Away With $34 Million In 2018: UK Report
“Scammers can be very convincing so always do your own research into any firm you are considering investing with, to make sure that they are the real deal.”The report is a viral topic in the latest cryptocurrency news - mostly because the FCA stated that scammers use social media to find potential investors. According to the regulator, crypto and forex scams like these often use pictures of celebrities with fake endorsements alongside images of luxury goods such as cars and watches. In 2018, the initial coin offering (ICOs) advisory firm Statis Group released a study in which it found that more than 80% of ICOs in 2017 were scams. The associated losses for that year, as the study showed, totaled around $1.34 billion. In the latest altcoin news, we can also see that new evidence surfaced, suggesting that purported Bitcoin (BTC) exchange Goxtrade is a Bitcoin scam. As the evidence shows, Goxtrade reportedly used the real names and photos of unaffiliated parties including the blockchain figure Amber Baldet to fill their website staff page and its absent from the UK's registry of companies and businesses. All in all, the number of crypto and forex scams is increasing and there must be certain regulation to prevent these billions which are lost on a yearly basis.
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