The United Kingdom (UK’s) South East Regional Organized Crime Unit (SEROCU), Europol, Hessen State Police of Germany and the UK’s National Crime Agency (NCA), tactically-technically arrested a 36-year old British man suspected of fraud, money laundering and theft crimes.
After Peggy and Marco Lachmann-Anke realised in January 2018 that deadly hackers had cracked a very strong 40-character password and emptied their crypto wallet, they didn't run to the police or inform the tokens' issuer, IOTA, a Berlin-based tech group. They just purchased more coins.
Criminals have recently been very cautious in conducting their illegal activity, as the number of cases solved by police has increased. For example, officials have caught three suspects of a large cryptocurrency theft in China. They stole almost 600 million Yuan ($87 mln) in virtual coins.
Police in north China’s Tianjin municipality have expropriated 600 Bitcoin mining computers after a local power grid reported faulty electricity consumption. The Local Police on Tuesday said that eight high-power fans were captured and that it was the biggest power theft case in recent years. Five people are currently under investigation and one has been placed in custody in the Tianjin case.
Identity theft is a prevailing issue in the digital world of today with millions of IDs compromised around the world on a regular basis. Hackers use identity theft for a variety of illegal purposes, the most pressing of which is the misuse of money. Blockchain Technology has long been seen as a viable proponent of an eventual decentralized identity platform that can help overcome these challenges faced by companies, individuals and governments around the world.
In a new development regarding the high-profile Mt. Gox Bitcoin theft, Tokyo lawyer and trustee for the failed Bitcoin exchange, Nobuaki Kobayashi, has sold over $400 million dollars of Bitcoin and Bitcoin Cash since 2017 to appease the creditors who lost it all.
The blockchain is often seen as a technology that is capable of liberating many sectors from middlemen, decreasing the operating costs and improving transparency and security in the relations between the market participants. But would the technology of decentralised ledger help to overcome one of the greatest challenges of the modern world, the secure storage of personal data?
Improper management of identity is a fundamental reason for a lot of problems encountered in the finetech and identity management industry as a whole. This includes but is not limited to issues such as corruption, fraud, theft and several forms of graft. This weakness is exploited by taking advantage of other reasons such as system inefficiencies and deliberate dishonest human interference for personal or organisational gains.