Skip to content
Herald Sheets

Herald Sheets

Live Cryptocurrency News

Follow Herald Sheets on Twitter, Facebook, Telegram, Please Read Our Disclaimer

  • Homepage
  • Start Trading
  • Guide
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Ripple (XRP)
    • Dogecoin (DOGE)
    • Cardano (ADA)
    • Litecoin (LTC)
  • Analysis
  • Blockchain
  • Mining
  • Reviews
    • Brokers
    • Exchanges
  • Regulation
  • Press Release
  • About Us
    • Contact Us
    • Privacy Policy
    • Submit Press Release
  • Disclaimer
  • Cryptocurrency
  • News
  • Scam

The USA And Ukraine Partner To Prosecute Crypto Fraudsters

Alicia Maher November 1, 2021 3 min read

The US and Ukraine’s security agencies have succeeded in arresting a crypto criminal syndicate involved in hacking crypto wallets and other money-laundering operations. Cyber fraudsters, primarily residents of Mykolayiv, Ukraine, have developed a darknet system for money laundering.


trade now

How The Operations Are Run

They legalize the stolen funds by using fake personalities, accounts, and financial service instruments. The gang also hacks crypto wallets to divert the funds from such wallets by selling malware-enabled flash drives. The gang was arrested through the combined efforts of the state and federal security agencies. 

Upon discovering their hideouts, the agents combed their entire abode, where they discovered and seized the malware-enabled flash drives and some funds. All those staying in that house have already been put in jail. While the agency didn’t disclose the exact amount recovered (both in cash and in stolen wallets), many estimate it would be at least US $10m.

Cybercrime And Digital Currency

Ukraine has been battling with wrongful digital currency use in recent times. Last year, CoinIdol news revealed that Ukraine’s unicameral parliament approved that security agencies can seize digital currencies once the holders are proven guilty of money laundering or any other crypto-related cybercrime. Since that time, security agencies have arrested several hackers involved in illicit crypto transactions.

The latest arrest involved a 24-year old Ukrainian who has amassed more than $145m by siphoning funds from more than 90 foreign firms (including those in the US). This year, the country’s security agents also arrested a hacker gang who usually develops and distributes malware for holding ransom data. The agencies estimate that this gang must have amassed more than $500m (including some US firms) through their illicit activities.

That might explain why America’s security agencies joined with Ukraine’s security agents to arrest these culprits. This collaboration might be the key to solving Ukraine’s internet security issues which time magazine once described as very vulnerable. Ukraine has no solid or clear structure for its digital currency sector. Hence, it has become a home for cyber fraudsters.

Squid Scam? Investors Lose $2m

The SQUID game token has been one of the most popular discussions in the crypto community over the last few days. However, the price dropped by 99.99% today in an apparent rugged pull. A rug pull means that the team of developers behind a project/token can access the token’s code backdoor and steal the entire token funds.

The play-to-earn token (created off the famous Squid movie) allowed buyers to earn by winning in-app games. The developers’ white paper stated that the overall winner will receive 90% of the total entry fees, while the team will keep the remaining percentage. However, the game is no longer online with investors’ $2.2m trapped.

All things related to this digital currency have been pulled offline. Even its website and social media accounts are no longer active. The incident confirmed earlier doubts about the cryptocurrency, with many reports saying that the Elon musk endorsement is fake and funds can only be deposited but not withdrawn.

Trade Now

HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us easily with Herald Sheets Facebook Messenger App. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

Continue Reading

Previous: Over $4 Billion Withdrawn From Aave Pool Amidst Exploitation Scandal
Next: Top Performing Cryptocurrencies in Past 30 Days

Related Stories

Reserve Bank Of India Officials Have Warned Of Cryptocurrency Dollarization Of Indian Economy
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • India
  • News
  • Regulation

Reserve Bank Of India Officials Have Warned Of Cryptocurrency Dollarization Of Indian Economy

May 28, 2022
American Agencies Issue A Warning Against the Influx Of North Korean In Cryptocurrency Jobs Online
3 min read
  • Cryptocurrency
  • News
  • Regulation
  • Scam

American Agencies Issue A Warning Against the Influx Of North Korean In Cryptocurrency Jobs Online

May 28, 2022
$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?
3 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?

May 27, 2022

Top 10 Crypto

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$29,044.00
0.78%
ethereum
Ethereum (ETH)
$1,783.77
2.32%
tether
Tether (USDT)
$1.00
0.08%
usd-coin
USD Coin (USDC)
$1.00
0.11%
binancecoin
BNB (BNB)
$307.96
1.77%
ripple
XRP (XRP)
$0.384650
-0.58%
Binance USD
Binance USD (BUSD)
$1.00
-0.11%
cardano
Cardano (ADA)
$0.464529
0.98%
dogecoin
Dogecoin (DOGE)
$0.081478
-0.65%
polkadot
Polkadot (DOT)
$9.61
3.45%

Recent Posts

  • Reserve Bank Of India Officials Have Warned Of Cryptocurrency Dollarization Of Indian Economy
  • American Agencies Issue A Warning Against the Influx Of North Korean In Cryptocurrency Jobs Online
  • $240M Liquidations In 24 Hours; Why Is ETH Price Crashing?
  • 27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness
  • Cardano (ADA) Extends Downward Following Substantial Damage – May 27 Analysis
  • Ethereum, Ripple, Cardano Price Analysis – 27 May 2022
  • Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World
  • UST And LUNA Trading Volumes Soar As Terra 2.0 Airdrop Draws Closer
  • 26 May Crypto Prices: SOL, DOT, ETH, AVAX Lose Up to 5%
  • ETH Gas Fee Hits Lowest Levels Since July 2021; Ethereum On Accumulation Phase
  • CharterPrime Review – Is CharterPrime Scam or a Proper Broker?
  • Do Kwon Intends To Make Terra Classic By Forking LUNA Blockchain
  • Grayscale Is Planning On Listing Its First European Exchange Traded Fund
  • Celsius Is Planning On Taking Its Crypto Mining Business Public
  • Terra Team May Not Redeem Promised Refunds, Especially For Smallholders – Whistleblower

Categories

You may have missed

Reserve Bank Of India Officials Have Warned Of Cryptocurrency Dollarization Of Indian Economy
3 min read
  • Bitcoin (BTC)
  • Cryptocurrency
  • India
  • News
  • Regulation

Reserve Bank Of India Officials Have Warned Of Cryptocurrency Dollarization Of Indian Economy

May 28, 2022
American Agencies Issue A Warning Against the Influx Of North Korean In Cryptocurrency Jobs Online
3 min read
  • Cryptocurrency
  • News
  • Regulation
  • Scam

American Agencies Issue A Warning Against the Influx Of North Korean In Cryptocurrency Jobs Online

May 28, 2022
$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?
3 min read
  • Altcoins
  • Crypto Trading
  • Cryptocurrency
  • Ethereum (ETH)
  • News
  • Price Analysis

$240M Liquidations In 24 Hours; Why Is ETH Price Crashing?

May 27, 2022
27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness
2 min read
  • Altcoins
  • Bitcoin (BTC)
  • Crypto Trading
  • Ethereum (ETH)
  • News
  • Price Analysis

27 May Crypto Prices: Bitcoin Explores $28K Amid Persistent Bearishness

May 27, 2022
Copyright © All rights reserved. | DarkNews by AF themes.
  • RelevantRelevant(REL)$0.825.35%
  • TadpoleTadpole(TAD)$7.32-1.74%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184213-2.11%
  • SakeTokenSakeToken(SAKE)$0.0127135.28%
  • WTF TokenWTF Token(WTF)$0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)$0.005461-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%