US Treasury designates Nordic Resistance Movement as global terrorist group
The US Treasury’s Office of Foreign Assets Control (OFAC) has recently sanctioned the Nordic Resistance Movement, labeling it as a Specially Designated Global Terrorist (SDGT) group. This designation also includes three individuals from Sweden associated with the terrorist organization. The Nordic Resistance Movement, including its use of blockchain donations for funding, provides an analysis of its on-chain activities since 2015.
2024 State of Crypto: Public Sector Perspectives
As criminal exploitation of crypto rises, it has become an increasingly critical issue for law enforcement, regulatory, and military agencies. In our research for the 2024 State of cryptocurrency Investigations Report, we surveyed over 800 public sector employees to gather their insights on blockchain technology and their capabilities in investigating blockchain asset activities.
CRIME
The Department of Justice has concluded a multi-year investigation, “Operation Fortune Runner,” leading to indictments against Los Angeles-based associates of Mexico’s Sinaloa drug cartel. The group is accused of laundering over $50 million in drug trafficking proceeds through Chinese underground banking networks.
The U.S. Attorney’s Office for the Northern District of Illinois has indicted Thomas Pavey of Ormond Beach, FL, and Raheim Hamilton of Suffolk, VA, for operating Empire Market, a darknet marketplace that facilitated the anonymous purchase of $430 million in illegal goods and services using cryptocurrency. Federal law enforcement seized $75 million worth of crypto during the investigation.
In Spain, authorities arrested Tyler Buchanan, a 22-year-old Scottish man and alleged leader of the cybercrime group Scattered Spider, suspected of hacking into over 130 organizations, including Mailchimp, LastPass, DoorDash, and Twilio. According to Palma police, Buchanan controlled Bitcoins worth $27 million.
Cryptocurrency-related scams remain a significant challenge for governments and law enforcement, particularly in Southeast Asia. A Washington Post investigation revealed a Myanmar-based criminal network in the Kokang region, reportedly protected by the military in Myanmar and Chinese officials. Despite efforts by the Chinese government to dismantle it, the network continues its operations, supported by cryptocurrency wallet activity analysis.
CNN recently reported on the tragic case of 82-year-old Dennis Jones, who took his life after losing his savings to a pig butchering scam run by Southeast Asian gangs. Jones was duped by a Facebook contact claiming to be a woman named Jessica, who convinced him to invest in cryptocurrency until his money vanished.
