Tag: BitFinex

UK Court Asks Bitfinex to Freeze a Bitcoin Balance Linked to Ransomware Proceeds

Ransomware has proven to be an incredibly lucrative solution for cyber criminals. Most of these ventures end in a certain amount of Bitcoin changing hands between criminal and victim.  Not all of the proceeds from ransomware attacks can be cashed out, however. A Ransomware Deal Gone bad In the case of Bitfinex, several of its transactions have been flagged as suspicious. So much even that roughly $860,000 worth of Bitcoin …
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Bitfinex Integrates Know Your Transaction by Chainalysis

Blockchain analysis firms continue to gain more attention. In the case of Chainalysis, the company will now collaborate with Bitfinex to keep criminals at bay.  It is crucial for any cryptocurrency exchange to ensure no illicit money streams pass through its order books. Chainalysis Tool Helps out Bitfinex That is often easier said than done, unless one has proper countermeasures in place. Bitfinex is seemingly stepping up its game in …
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Unlicensed Bitcoin Reseller Obtaining BTC from Bitfinex Faces Two-year Prison Sentence

Bitcoin users have often been a target for law enforcement agencies and governments. In the United States, that scrutiny is even bigger compared to most other countries around the world. One 22-year-old Bitcoin trader has now been sentenced to two years in prison and forfeiting financial assets for trading and selling Bitcoin in an unlicensed manner. Reselling Bitcoin Equals Money Transmitting Ever since Bitcoin started making media headlines, people have …
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Bitfinex Aims to Eliminate Tax Evasion by Cooperating with the British Virgin Islands

In the world of cryptocurrency, controversy is not all that difficult to come by. This is especially true when it comes to exchanges and trading platforms which share client information with the government. After the recent Coinbase-IRS debacle, it now seems Bitfinex is handing over a lot of customer information to the authorities as well. Bitfinex Stirs the pot While there are good reasons for a cryptocurrency exchange to be in active talks with a government, developments …
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