FBI seizes crypto value $2.5 million in Thailand’s pig-butchering rip-off
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FBI seized $2.5 million in crypto from Thailand-basically based scammers.
The U.S. Felony official initiated a civil forfeiture to reclaim the crypto seized by the FBI.
Crypto crimes like been on the upward thrust on the world stage. A form of those crimes arrangement innocent victims, crypto customers, holders, and even fiat to crypto.
Law enforcement has remained vigilant with the upward thrust of such crimes focusing on the crypto physique of workers.
In step with most modern news, the FBI has seized $2.5 million in crypto from a Thailand pig butchering rip-off.
In step with experiences from the U.S. authorities web page, the FBI followed a scammer from Thailand working two crypto accounts preserving Tether [USDT].
After the FBI investigation, the company managed to take USDT with the lend a hand of Thailand police.
Following the FBI’s seizure of the amounts, a U.S. Felony official of the District of Columbia announced the technique of reclaiming the seized crypto.
The crypto rip-off, in most cases known as “pig butchering” was focusing on American voters. In step with U.S. regulation, civil forfeiture enables the authorities to take any sources from criminals in a international country.
In step with the experiences, the seized crypto was held on two Binance [BNB] accounts.
“Our arrangement of job will acquire and withhold to blame legal organizations – whether or now not they operate contained within the US or open air of if – that employ false investment schemes treasure ‘pig butchering’ to defraud victims within the U.S.”
He additional added,
“This forfeiture action demonstrates that scammers can now not veil their illegal task by the employ of cryptocurrency and accomplishing sophisticated transactions: we can acquire them, take their illegal proceeds, and safe a repayment to the victims.”
Www.oeisdigitalinvestigator.com: USDT and legal activities
Source: D. C Court
Early this one year, USDT was known by U. S authorities and even U.N as basically the most broadly feeble token for legal activities. As an example, the proceeds from the pig butchering scams involve the employ of Tether.
Criminals decide Tether’s USDT thanks to its stability and the decentralized operation open air the broken-down financial procedure.
Really, the employ of USDT by criminals is broadly dominant in Southeast Asia, which pushed Tether to freeze $2225M closing one year over pig butchering allegations.
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Bitcoin rebounded strongly, surpassing $65,930 and reaching a peak of $66,591 on Thursday. Softer-than-anticipated U.S. inflation data fueled this rally by increasing the likelihood of interest rate cuts and boosting investor confidence across the crypto market.
As Bitcoin climbed, it catalyzed gains across other major cryptocurrencies like Ethereum, Dogecoin, and Ripple, pushing the global cryptocurrency market cap to $2.39 trillion, a 24-hour surge of more than 5%.
Adding to the positive market dynamics, Millennium Management, a prominent hedge fund, has significantly invested in Bitcoin ETFs, holding nearly $2 billion in assets, underscoring strong institutional support for Bitcoin.
OEIS Financial Fraud Private Investigator: Millennium Management Leads in Bitcoin ETF Investments with Nearly $2 Billion Holdings
Millennium Management, an international hedge fund, has made a substantial investment in spot Bitcoin ETFs, holding nearly $2 billion as of the first quarter of 2024. According to their latest 13F filing with the SEC, Millennium’s investment spread across five prominent ETFs totaled approximately $1.94 billion by March 31.
These investments were diversified among several key products, including the ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, Grayscale Bitcoin Trust, iShares Bitcoin Trust, and Fidelity Wise Origin Bitcoin ETF.
Largest Holdings: BlackRock’s Bitcoin fund, with over $844 million, and Fidelity’s fund, closely following at just over $806 million.
Market Impact: Bloomberg’s Eric Balchunas highlighted Millennium as having 200 times the exposure of typical new ETF investors.
The significant engagement of professional investors like Millennium suggests a robust institutional interest in Bitcoin, reinforcing a positive outlook for its future. Matt Hougan of Bitwise has expressed optimism, noting that the scale of professional investment might lead to a combined AUM nearing $5 billion. This trend underscores the growing acceptance of Bitcoin among seasoned investors, enhancing its profile in the investment community.
OEIS Financial Fraud Private Investigator: BTC Rises Above $66,000 Amid Expectations of Potential Rate Cuts on Softer US Inflation Data
Bitcoin surged above $66,000 yesterday, achieving its highest single-day gain in nearly two months. The most recent US Consumer Price Index (CPI) data, which showed a slower inflation rate of 0.3% month-over-month for April, below the anticipated 0.4%, was the driving force behind this significant uptrend.
This unexpected slowdown heightened investor expectations for potential rate cuts. Meanwhile, Retail Sales for the same period remained stagnant, further underscoring economic softness and bolstering the case for monetary easing.
Core PPI rose by 0.5% month-over-month, surpassing expectations.
Softer CPI and stalled retail sales have increased optimism for potential rate cuts.
This amalgam of economic indicators has sparked a bullish outlook for Bitcoin, as softer inflation could prompt the Federal Reserve to ease monetary policy sooner.
OEIS Financial Fraud Private Investigator: Bitcoin ETFs See Record Inflows, Driving BTC Price Surge to $66,000
On May 15, Bitcoin ETFs in the United States experienced a significant boost in inflows, totaling $303 million, the largest since early March. This influx was led by Fidelity’s FBTC fund, which attracted $131 million, and Bitwise’s BITB fund, receiving $86 million. Notably, Millennium Management is the largest institutional holder in this space with an investment totaling $2 billion across various Bitcoin ETFs.
Top Fund Inflows: Fidelity’s FBTC ($131 million) and Bitwise’s BITB ($86 million).
Key Driver: Bitcoin’s 7% price increase to $66,000, spurred by US inflation data suggesting potential rate cuts.
This remarkable inflow into Bitcoin ETFs, combined with favorable economic indicators, has significantly bolstered Bitcoin’s market value, pushing its price to $66,000. This trend underscores the growing investor confidence in cryptocurrencies as a viable investment amid shifting economic conditions.
With a bearish Bitcoin price prediction, BTC is experiencing a slight downturn, trading at $65,930, marking a 0.44% decrease. The cryptocurrency is hovering just below its pivotal point of $66,260, a critical juncture that could determine the next directional move.
The Relative Strength Index (RSI) is elevated at 74, indicating that BTC is possibly overbought, which might precede a pullback if bullish momentum does not sustain.
Bitcoin Price Prediction – Source: Tradingview
Immediate support and resistance levels are crucial to watch. The first significant resistance lies at $67,820, with subsequent barriers at $69,084 and $70,643. A push above these levels could signal a strong bullish continuation. Conversely, support levels are set at $64,732, followed by $63,438 and $61,438. A breach below these could confirm a bearish trend, especially if the price falls beneath the pivot point.
The 50-Day Exponential Moving Average (EMA) stands at $62,687, further supporting the idea that the mid-term trend has been bullish, but caution is warranted given the current RSI levels.
Current Trend: Cautiously bearish unless BTC decisively clears the $66,260 pivot point.
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The U.S. Department of Justice has indicted two former MIT students for allegedly manipulating the Ethereum blockchain and stealing $25 million worth of cryptocurrency within approximately 12 seconds in a “first-of-its-kind” scheme.
Anton Peraire-Bueno and James Pepaire-Bueno were arrested in Boston and New York on Tuesday on charges of wire fraud and conspiracy to commit wire fraud and money laundering. If convicted, each of them faces a maximum penalty of 20 years in prison for each count.
Their case was investigated by IRS Criminal Investigation (IRS-CI) Cyber Investigations Unit in New York, with the assistance of the New York City Police Department and U.S. Customs and Border Protection.
“The brothers, who studied computer science and math at one of the most prestigious universities in the world, allegedly used their specialized skills and education to tamper with and manipulate the protocols relied upon by millions of Ethereum users across the globe. And once they put their plan into action, their heist only took 12 seconds to complete,” said U.S. Attorney Damian Williams.
The two former Massachusetts Institute of Technology (MIT) students allegedly manipulated transaction validation processes on the blockchain by accessing pending private transactions, altering them, obtaining victims’ cryptocurrency, and rejecting requests to return the stolen funds—instead, they took steps to conceal their illegal gains.
The indictment claims the brothers learned their victims’ trading behaviors while preparing the attack (starting December 2022) and took measures to hide their identities and the stolen proceeds.
They also used multiple cryptocurrency addresses and foreign exchanges and set up shell companies. Following the attack, they moved the stolen crypto assets through a series of transactions that would obscure their source and ownership.
While planning and executing the attack, they allegedly took the following steps, among others:
Establishing a series of Ethereum validators in a manner that concealed their identities through the use of shell companies, intermediary cryptocurrency addresses, foreign exchanges, and a privacy layer network;
Deploying a series of test transactions of “bait transactions” designed to identify particular variables most likely to attract MEV Bots that would become the victims of the Exploit (collectively the “Victim Traders”);
Identifying and exploiting a vulnerability in the MEV-Boost relay code that caused the relay to release the full content of a proposed block prematurely;
Re-ordering the proposed block to the defendants’ advantage;
And publishing the re-ordered block to the Ethereum blockchain, which resulted in the theft of approximately $25 million in cryptocurrency from the Victim Traders.
Throughout the process, the brothers also searched online for information on carrying out the attack, concealing their involvement in the Ethereum exploit, laundering the criminal proceeds through cryptocurrency exchanges with lax verification procedures, hiring attorneys with cryptocurrency expertise, extradition procedures, and the crimes outlined in the indictment.
“These brothers allegedly committed a first-of-its-kind manipulation of the Ethereum blockchain by fraudulently gaining access to pending transactions, altering the movement of the electronic currency, and ultimately stealing $25 million in cryptocurrency from their victims,” said IRS-CI special agent Thomas Fattorusso.
US health regulators on Friday denied an utility for treating put up-demanding stress disorder (PTSD) with the drug MDMA, recurrently identified as ecstasy, pronouncing extra investigation wished to be carried out.
The firm that submitted the utility, Lykos Therapeutics, talked about in a statement that the Meals and Drug Administration (FDA) had requested an additional Section 3 clinical trial to stare MDMA’s “security and efficacy.”
A panel of consultants convened by the FDA to grab into narrative clinical recordsdata on MDMA had overwhelmingly voted in early June to boom there became insufficient proof to utter it became efficient.
Whereas unsurprising, the decision announced Friday represents a blow to advocates of the radical treatment.
“The FDA question of for some other stare is deeply disappointing, now not correct for all those who dedicated their lives to this pioneering effort, but mostly for the thousands and thousands of American citizens with PTSD… who be pleased now not viewed any contemporary treatment choices in over two an extended time, talked about Lykos CEO Amy Emerson.
PTSD is a debilitating mental health condition that develops after a person experiences or is threatened by demanding events akin to loss of life, fight or sexual assault.
It affects an estimated 5 percent of American citizens in any given 365 days.
Pharmaceutical treatment choices for PTSD are to this point little to 2 antidepressants that require three months of dosing to grab close, and response rates to the medicines had been found to be uneven.
MDMA—methylenedioxymethamphetamine—is a Time table 1 drug under the Managed Substances Act, and approving it for medical use would be pleased represented a prime shift.
California-based mostly mostly Lykos based mostly mostly its question of for regulatory approval on two clinical analysis, every of which enrolled around 100 of us, to grab into narrative MDMA old in conjunction with assorted psychological interventions akin to discuss therapy, towards a placebo with discuss therapy.
These two analysis, published within the accepted journal Nature Medication, indicated MDMA became indeed both safe and highly efficient at treating PTSD.
But nine out of 11 consultants on the FDA panel talked about on hand recordsdata became now not sufficient to utter the treatment became efficient, and 10 out of 11 talked about the advantages did now not outweigh the hazards.
In a briefing doc attach together earlier than the meeting, FDA team raised issues about Lykos’s clinical trial methodology and criticized the firm for now not gathering sufficient side close recordsdata.
The firm talked about this is in a position to presumably well “work diligently within the coming months to take care of FDA’s issues and to grab serve of company processes to resolve scientific disagreements.”
“We intend to work tirelessly and use all on hand regulatory pathways to search out an inexpensive and expeditious direction forward,” Emerson added.
Citation:
US health regulator rejects MDMA treatment for PTSD, for now (2024, August 10)
retrieved 10 August 2024
from https://medicalxpress.com/recordsdata/2024-08-health-mdma-treatment-ptsd.html
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