China News Official TheBitTimes.com

The UK’s National Crime Agency (NCA) is forming a special team to investigate crypto crimes to prevent virtual asset fraud. According to a vacancy posted by the NCA, the agency is looking for six people to create a new team that will investigate crypto crimes. The working group will be part of the National Cyber Crime Unit (NCCU) or the Digital Assets Unit. Salary varies from £42,109 to £45,605. Requirements for candidates include analyzing various materials and suspicious cryptocurrency transactions, monitoring blockchains, and interacting with law enforcement and regulatory authorities. The NCA has stressed that it intends to form a dedicated team of “cryptocurrency investigators” amid rising cyber threats. The move demonstrates the UK’s intention to become a crypto hub as local authorities continue to debate the creation of a regulated environment that protects the interests of users. You might also like: UK legislation on confiscating illegal crypto assets of...

The stablecoin issuer freezes addresses containing $873,000 USDT linked to illicit activity in Israel and Ukraine. Stablecoin issuer Tether has moved to freeze 32 addresses linked to terrorist activity in Israel and Ukraine in collaboration with local law enforcement agencies. $873,118 worth of USDT linked to illicit activity in Israel and Ukraine have been frozen, according to announcement from the company. The action was taken in a collaboration with Israel’s National Bureau for Counter Terror Financing. Paolo Ardoino, who was appointed as Tether CEO in Oct. 2023, highlighted the fact that cryptocurrency transactions are easily traced on blockchain platforms which has enabled Tether to assist in blocking the use of USDT linked to terror ist funding. “Contrary to popular belief, cryptocurrency transactions are not anonymous; they are the most traceable and trackable assets." The CEO added that the stablecoin issuer is actively working with global law enforcement agencies to ...

The transparency of blockchain technology and the active involvement of crypto exchanges help law enforcement agencies combat criminal activity. Cryptocurrency is often associated with criminal activity, but this is mostly a myth, especially today. Bitcoin (BTC) and other cryptocurrencies don’t provide complete anonymity due to the Know-Your-Customer (KYC) policies implemented by most crypto exchanges. Even without KYC scanning, law enforcement agencies can easily track crypto transactions to identify criminal activity, as the blockchain is transparent and immutable. In 2019, United States Treasury Secretary Steven Mnuchin said that Bitcoin was a national security issue, since it had been used for illicit activities. To him, cryptocurrencies were dominated by illegal activities and speculation. But the facts say otherwise. Though illicit crypto volumes reached an all-time high at $20.6 billion in 2022 (primarily due to sanctioned entities), the share of all crypto activity linked wit...

Unsuspecting users looking to claim Blur token airdrops have had funds stolen by a number of fake websites. Scammers continue to prey on nonfungible token (NFT) users looking to claim Blur token airdrops through the use of numerous scam websites. According to data from TrustCheck, over $300,000 has been stolen from unsuspecting users that have linked wallets to malicious websites. The legitimate Blur platform is a newcomer to the NFT marketplace space and has made waves in the industry, with booming user numbers and trading volume a direct result of the platform’s three-phase airdrop incentive scheme. 10% of Blur’s total token supply was distributed to users based on their trading activity in its second token airdrop scheme from Feb. 15. The first airdrop was retroactive, awarding tokens to anybody who traded an NFT on Ethereum in the six months leading up to the platform’s launch in October 2022. The second airdrop awarded tokens to users who listed NFTs before Dec. 6, while the thi...