Two Romanian citizens were convicted by a US federal jury of using malware to steal credit card credentials and to mine cryptocurrencies. In the coming altcoin news, we read more of the court’s decision.
According to an announcement from the United States Department of Justice, the two Romanian used malware in order to be able to perform cryptojacking and to steal credit card data. The suspects stole other data as well which was later sold on the darknet markets but also they engaged in online auction frauds.
Per the Department’s reports, Radu Miclaus, 37 and Bogdan Nicolescu, 36, were convicted by the federal jury after a 12-day trial. Both of the cybercriminals were charged with wire fraud, aggravated identity theft, conspiracy to traffic in counterfeit service marks, conspiracy to commit money laundering and more than a dozen other accounts related to wire fraud. Both of them should be sentenced on August 14th in the Northern District of Ohio.
The criminal activities were conducted from Bucharest, Romania by both cybercriminals, and one other person who also pleaded guilty. The malware was developed a long time ago in 2007 and was spread via emails. The emails posed as legitimate communications from companies such as Western Union and Norton AntiVirus.
Per the press release, the recipients who were unlucky enough to click on the attached file got their malware on their device. The malware harvested email addresses from the victims’ devices and managed to spread the malware to millions of users. The virus redirected traffic to websites such as eBay, PayPal, and Facebook to almost identical websites for phishing.
Finally, the case was under a joint investigation by the Romanian National Police and the US Federal Investigation Bureau.
As previously reported in the best cryptocurrency news site, crypto frauds are circling the crypto industry after the bitcoin wallet service Electrum got under attack and lost millions of dollars. An AT&T Cybersecurity report shows that cryptocurrency mining activities are the most targeted objectives of hackers. Also, at the end of March, the Trojan Malware for android phones turned out to target users of apps such as BitPay, Coinbase, JPMorgan and Bank of America.
Thailand Crypto Regulation Could Arrive Through ICO & STO Offerings
“The regulator will have to consider how to deal with STOs for issues such as share ownership, voting rights and dividend. At the moment, we have not decided whether STOs fall under the SEC Act or the Digital Asset Act, but it depends on the STO's conditions and the details in its white paper.”On top of this, the country's SEC has recently scratched the surface of the Thailand crypto regulation issues with the approval of STOs in the local market, even though the plans to legalize ICOs are still contradictory and unclear. This month, the Thai SEC reportedly approved the official launch of the country's first ICO portal which brought a lot of positive news across many best cryptocurrency news sites. According to the news, there are plans for STOs approval in the local market.
“The next step is for an issuer to offer security tokens in the primary market,” said Archari Suppiroj, commenting the Thailand crypto regulation issue.According to big names in the crypt industry, there are still legal boundaries between STOs and global financial regulations. As one prominent CEO said:
“There’s a misconception that there’s a Thai regulatory problem or that somehow the regulations need to change. They don’t. You need to comply with rules around the world. If the compliance doesn’t work, nothing else can happen. We have talked with a number of regulators in the U.S. and around the world. No one has given us negative feedback and no one has signed off on it, but our fundamental opinion is that we’re complying with the rules.”In July, the Thai SEC officially legalized registered ICOs, allowing companies to run token sales with guidance from the SEC. All of this has led to greater Thailand crypto regulation and a lot of positive news in the crypto space.
Democratic US Presidential Candidate Advocates For Clear Crypto Regulations
“We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential," Yang said.The US presidential candidate Yang is definitely one of the many big names calling out for crypto regulation. His act definitely moves the waters and introduces certain regulatory certainty for businesses and regulators in the United States. He further pointed out that both crypto and digital asset markets develop faster than regulations can keep up. Featured on many best cryptocurrency news sites for his crypto-positive statement, Yang continued:
“Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift."With this the US presidential candidate proved that he is interested in cryptocurrencies and wants to be recognizable in the world of crypto. In January, there were reports showing that the US States Senator and cryptocurrency critic Elizabeth Warren had announced her bid for president in 2020. Speaking at a Senate Bank Committee hearing in October, Warren asserted that “the challenge is how to nurture productive aspects of crypto with protecting consumers.”
Andrew Yang Democratic Candidate Advocates For Clear Crypto Regulation
“We should let investors, companies, and individuals know what the landscape and treatment will be moving forward to support innovation and development. The blockchain has vast potential.”On the website, you can also see that Andrew Yang pointed out that cryptocurrency and digital assets markets are developing quickly and the regulatory bodies cannot follow the fast development. As we can read in the latest cryptocurrency news, he also pointed out:
“Create clear guidelines in the digital asset world so that businesses and individuals can invest and innovate in the area without fear of a regulatory shift.’’Back in January, the United States Senator and well-known crypto critic Elizabeth Warren made an announcement for her presidential run in 2020. While she was speaking at the Senate Banking Committee hearing back in October 2018, she stated that ‘’the challenge is how to nurture productive aspects of crypto with protecting consumers.’’ Elizabeth Warren also made clear that the average American consumer could become a victim of a crypto scam. As for Andrew Yang, he announced his candidacy in the 2020 elections in November 2017. At the start of this month, representatives Darren Soto (D) and Warren Davidson (R) introduced the Token Taxonomy Act. This reintroduced act will exclude cryptocurrency from being classified under security. The act also enables the introduction of regulatory certainty for regulators and business in the US blockchain industry. It also clarifies the relationship between government initiatives and regulatory rulings. As for Andrew Yang, we wish him good luck.
Is China Going To Ban Crypto Mining?
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