The U.S. Department of Justice is reportedly in discussions with Binance to potentially terminate the independent compliance monitor mandated under its landmark $4.3 billion settlement ahead of schedule. This move, if approved, would mark a significant regulatory reprieve for the world’s largest cryptocurrency exchange, which has been under intense scrutiny following past failures in anti-money laundering controls and other compliance lapses.
about DOJ May Ease Binance Oversight in $4.3B Settlement ReviewUS Department of Justice (DOJ)
0 in Finance and 0 in Crypto last weekSamourai Wallet Founders Plead Guilty in $237M Case
The founders of Samourai Wallet, Keonne Rodriguez and William Lonergan Hill, pleaded guilty to conspiracy for operating an unlicensed money-transmitting business, resulting in a $237 million forfeiture and a $400,000 fine. The DOJ dropped parallel money laundering charges, capping prison time at five years. Prosecutors argued that Rodriguez knowingly facilitated illicit transactions, though the defense framed the plea as a pragmatic compromise. The case highlights ongoing legal debates over non-custodial crypto software. Samourai Wallet, a privacy-focused Bitcoin app, was shut down in April after processing over $2 billion in transactions, including $100 million tied to dark-web markets.
about Samourai Wallet Founders Plead Guilty in $237M CaseBlockFi, DOJ Settle $35M Crypto Transfer Lawsuit
BlockFi’s bankruptcy administrator and the US Department of Justice (DOJ) have resolved a $35 million crypto asset transfer lawsuit, with the settlement approved by Judge Michael B. Kaplan. The lawsuit, filed in May 2023, aimed to transfer crypto assets from BlockFi to the US government, linked to a criminal fraud case involving two Estonian citizens. The settlement dismisses the claims, marking a significant step in BlockFi’s bankruptcy proceedings while clarifying the DOJ’s seizure authority over unrelated funds.
about BlockFi, DOJ Settle $35M Crypto Transfer LawsuitNorth Koreans Steal $1M in Crypto via Fake IT Jobs
Four North Korean nationals have been charged by the US Department of Justice (DOJ) for posing as remote IT developers at blockchain firms in the US and Serbia, stealing nearly $1 million in cryptocurrency. The group, identified as Kim Kwang Jin, Kang Tae Bok, Jong Pong Ju, and Chang Nam Il, used fake and stolen identities to conceal their origins. Operating initially from the UAE in 2019, they later secured jobs at an Atlanta-based blockchain startup and a Serbian token company between late 2020 and mid-2021. The stolen funds were allegedly funneled to support North Korea’s illicit programs. The case highlights growing concerns about state-sponsored cybercrime in the crypto space.
about North Koreans Steal $1M in Crypto via Fake IT JobsTrump Dodges Crypto Divestment Questions Amid New Bill
President Donald Trump avoided addressing concerns about his family’s cryptocurrency investments during a press briefing, instead emphasizing the importance of the crypto industry for the US. He defended his involvement, stating it was crucial to prevent China from dominating the sector. Meanwhile, Senator Adam Schiff introduced the COIN Act, which seeks to ban high-ranking officials and their families from engaging with digital assets before, during, and after public service. Trump’s financial disclosures revealed $57.3 million in income from a DeFi platform, while his memecoin, ‘Official Trump,’ was not listed. Critics, including Ethereum’s Vitalik Buterin, warn that political coins could enable corruption. Advocacy group Public Citizen has raised concerns about potential legal violations.
about Trump Dodges Crypto Divestment Questions Amid New BillDOJ Charges Six in Multi-Million Dollar Postal Check Fraud
The U.S. Department of Justice (DOJ) has indicted six individuals—Michael Edwards, Shakeemo Hill, William Hill, Alixandria Lauture, Shuron Malone, and Carlos Mercado—for allegedly running a sophisticated check and bank fraud operation from January 2022 to July 2024. The group reportedly stole mail using Postal Service keys, altered checks digitally or chemically, and sold them via messaging apps. They also deposited fraudulent checks into East Coast bank accounts. U.S. Attorney Jay Clayton emphasized the DOJ’s commitment to safeguarding the mail system, a vital service for millions of Americans. The case highlights growing concerns over financial crimes exploiting postal infrastructure.
about DOJ Charges Six in Multi-Million Dollar Postal Check FraudUS DOJ Busts $36.9M Crypto Fraud Ring, Five Plead Guilty
The U.S. Department of Justice (DOJ) has secured guilty pleas from five men involved in laundering over $36.9 million stolen from victims of a crypto investment scam. The scheme used social media, dating sites, and fake investment promises to defraud U.S. victims, funneling funds through shell companies and offshore accounts. The money was converted into USDT via a Bahamas-based Deltec Bank account and sent to scam centers in Cambodia. The defendants face up to 20 years in prison, joining three others already convicted. The FBI reports over $9 billion in crypto fraud losses in 2023, with seniors most affected.
about US DOJ Busts $36.9M Crypto Fraud Ring, Five Plead GuiltyFive Plead Guilty in $36.9M Crypto Scam Targeting Americans
The US Department of Justice (DOJ) announced that five men have pleaded guilty to orchestrating a $36.9 million crypto investment scam targeting Americans. The perpetrators, part of an international criminal network, lured victims via texts, calls, and dating apps, convincing them to invest in fake crypto projects. Instead of investing, the scammers transferred funds to a Bahamas-based Deltec Bank account and later to USDT wallets in Cambodia. Eight other co-conspirators have also confessed. The DOJ’s crackdown highlights the growing risks of crypto fraud and the need for investor vigilance.
about Five Plead Guilty in $36.9M Crypto Scam Targeting AmericansDOJ Probes Coinbase Data Breach, $20M Reward Offered
The US Department of Justice (DOJ) has launched an investigation into a significant security breach at Coinbase, the largest US-based cryptocurrency exchange. The breach involved criminal actors bribing employees and contractors in India to access sensitive client data, though login credentials remained secure. Coinbase disclosed the incident after receiving a threatening email on May 11, estimating potential losses between $180 million and $400 million. The company refused a $20 million ransom demand, instead establishing a $20 million reward fund to aid in the arrest and conviction of the perpetrators. The DOJ is focusing on the criminals, not Coinbase itself, as the exchange collaborates with law enforcement agencies globally.
about DOJ Probes Coinbase Data Breach, $20M Reward OfferedDOJ Probes Coinbase Data Breach Involving Insider Attack
The DOJ is probing a data breach at Coinbase involving third-party contractors and employees in India who were bribed to access internal systems. The breach compromised personal data of less than 1% of users but led to social engineering scams. Coinbase refused a $20 million Bitcoin ransom and instead set up a reward fund for identifying the perpetrators. The company estimates remediation costs between $180 million and $400 million, including user reimbursements. The incident highlights vulnerabilities in crypto security and the growing threat of insider-driven attacks.
about DOJ Probes Coinbase Data Breach Involving Insider AttackCEL Token Surges 80% as DOJ Seeks 20-Year Sentence for Mashinsky
The CEL token experienced an 80% price rally, reaching a 12-week high of $0.18, after the DOJ called for a 20-year prison sentence for former Celsius CEO Alex Mashinsky. The DOJ accused Mashinsky of misleading investors, manipulating CEL’s price, and misusing customer funds, leading to Celsius Network’s collapse in 2022. Despite the surge, CEL remains far below its 2021 all-time high of $8. Mashinsky previously pleaded guilty to fraud charges related to Celsius’s ‘Earn’ program, which misled investors into depositing Bitcoin. Celsius filed for bankruptcy in 2022, revealing a $1.2 billion deficit, and has since distributed over $3 billion to creditors as part of its restructuring plan.
about CEL Token Surges 80% as DOJ Seeks 20-Year Sentence for MashinskyCelsius Founder Faces 20-Year Prison Sentence for Fraud
The US Department of Justice (DOJ) has recommended a 20-year prison sentence for Alex Mashinsky, founder of the collapsed crypto lending platform Celsius, citing his involvement in a fraudulent scheme that led to billions in customer losses. According to the DOJ’s sentencing memo, Mashinsky’s crimes were intentional, resulting in $4.7 billion in frozen assets and personal gains exceeding $48 million. The DOJ emphasized that his actions were not due to negligence but were calculated lies and theft. This case highlights the severe legal consequences for fraudulent activities in the cryptocurrency industry.
about Celsius Founder Faces 20-Year Prison Sentence for Fraud