According to the latest crypto news coming from Romania, the exchange executive Vlad Nistor is involved much more deeply than first anticipated in illegal operations of a crypto company.
The reports show that Nistor was a member of a group that conducted phishing attacks in the United States between 2014 and 2015 when CoinFlux was at the beginning of their work. More than 14 Romanian citizens were indicted by federal authorities with Vlad Nistor just being one of them with a lot of business ties and was seen at the time as an upstanding citizen.
He is believed to have shared advice with some active cyber criminals and helped them conduct illegal activities with most of them being phishing attacks on US soil.
Roughly translated the report notes:
“Two of these methods were run online via phishing or through various fictitious sale ads (via eBay or through online platforms ). For example, Romanians were sending e-mails using instant messaging programs or telephone numbers where the user is advised to give confidential data to win certain prizes or was informed that they are necessary due to technical errors that led to loss of original data. A web address containing a clone of the site of a financial or trading institution was indicated in the e-mail.”
After obtaining the funds from phishing victims, the criminals created accounts on the new CoinFlux exchange to wash the funds via different crypto methods. Nistor advised the phishers how to dispose of their proceeds using the crypto exchange.
The court has given Nistor a week to make arguments about why he should not be extradited.
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“We are not involved, and the movement is not tied to the procedure outlined in the UNUS SED LEO white paper,” she said.The anonymous nature of Bitcoin wallets is still a mystery for many - which is why moves like this one by the stolen Bitfinex Bitcoin are only evidence of hacker activity after the theft. As such, they can only be used for forensic analysis by blockchain sleuths - but often result in money laundering activity and hide the funds' ultimate destination. For those of you who don't know or haven't been following the best cryptocurrency news sites, the Bitfinex theft was the largest loss of Bitcoins by an exchange since the Mt. Gox hack in early 2014 which wiped away $350 million. In February this year, law enforcement in the United States managed to retrieve 27.66270285 of the stolen Bitfinex Bitcoin (BTC) which had been taken in the hack. Right now, we are all far from even thinking about retrieving the stolen Bitfinex Bitcoin. However, it is good that accounts like Whale_Alert exist and show some activity on the wallets following their hack.
FBI Investigation On The QuadrigaCX Case Emerges In The US
The Federal Bureau of Investigation (FBI) has officially expanded the QuadrigaCX case where the founder suspiciously died, with more than $100 million in cryptocurrency vanishing. Because of these reasons, the FBI investigation was relocated to the United States today, and the agency took to Twitter to ask for US-based victims of the crime to come forward.
This is actually a good thing for the market, as the ongoing trend of government intervention is either part of an evolution or a new pattern showing anti-crypto activity. It is all based on how you see things from your perspective.
However, the FBI investigation definitely shows serious attitude towards resolving the QuadrigaCX case, which is particularly interesting because of the mysterious activities and elements to it. One of them is the death of its CEO a month after the exchange closing, to then blame on a lack of access to wallets held by the deceased. As if this issue was not crazy enough, the QuadrigaCX funds were later mysteriously sent to the addresses in question.
A lot of questions linger, as the FBI investigation shows, and are subject to many mysteries. In our coming altcoin news, we have been reporting updates on the QuadrigaCX case - up until now where it seems like the case will go beyond a procedural bankruptcy court in Canada. From this, we can see that the exchange will probably be put under criminal investigation for its services rendered to US citizens.
As a result of this, whoever is left of the executive staff may be off the hook. In cases like these (picked up by the media and the best cryptocurrency news sites), it is often a question whether or not the government can recoup anything. However, the FBI investigation must determine if there are assets with value and to this date, no significant assets like that have emerged.
As a final note, many analysts believe that the actual problem for QuadrigaCX are actually its business decisions and relationships, which were the backbone of the struggle when the Canadian bank froze the exchange's assets.
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