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Rho Markets, a decentralized finance protocol, has resolved a $7.6 million exploit caused by a misconfiguration. The attacker exploited this vulnerability but later contacted Rho Markets, expressing willingness to return the funds if the platform acknowledged the misconfiguration. Following this, the compromised funds are being restored to Rho Markets' borrow pools. This incident highlights ongoing security challenges in the DeFi space .

Calling all Cryptocurrency Investigators, Risk professionals, Crypto Enthusiasts and Traders, Join us for this amazing session on "Mitigating Crypto Custody Risk"

The combined utilisation of both self-custody technology and a qualified custodian for digital assets is gaining popularity, largely due to regulatory obligations, security and the operational efficiency it brings. For a detailed comparison and insights on how each custody option differs, take a read on our latest primer: https://lnkd.in/gk5fXjrd #RakkarDigital #Digitalasset #Assetmanagement

We just responded to another subpoena—this time from the SEC Fraud Division regarding Gray Market. Our criminal pursuit guarantee isn’t just a tagline; it sets us apart. No other KYC provider holds projects to this level of true accountability. Gray Market’s potential scam left investors unable to withdraw money with potentially millions of dollars worth of unaccounted-for funds. Our investigation revealed potential asset depletion, with remaining funds potentially off-chain. We’ve requested full financial transparency from Gray Digital. Assure DeFi stands by our promise: real accountability, and unmatched security. No other KYC provider comes close. Full ADIIR: https://lnkd.in/e39848S5

📢 New Financial Crime Insights Report: Money Mules 🕵️♂️ June 2024: The Financial Intelligence Centre (FIC) has released an in-depth report on the prevalent issue of money mules—individuals used, often unknowingly, to launder illicit funds. This comprehensive analysis, based on STR data from 2016 to 2023, highlights the critical role money mules play in facilitating financial crimes such as money laundering, fraud, and identity theft. The report identifies key trends, including the use of shell companies and crypto assets, and emphasises the need for heightened vigilance and enhanced detection methods by financial institutions. Discover more about the strategies used by criminals and how we can combat this growing threat. Get some.

Evaluating your custody solution provider involves a thorough examination of several critical factors to ensure the safety and accessibility of your digital assets. Read more: https://hubs.ly/Q02_fGzZ0 Post written by Lior Lamesh, Forbes Councils Member.

Digital Assets Nest Review Beware of the Digital Assets Nest Scam! Do you believe that you were scammed by an Digital Assets Nest broker? For suggestions and the future moves around, discover our comprehensive Digital Assets Nest review. File a complaint with Enverra Capital to get your money back. Don't let fraudsters get away with it. In case you've been victimized by the Digital Assets Nest scam, get in touch with us immediately. #DigitalAssetsNestReview #DigitalAssetsNestScam https://lnkd.in/eV5R5FBg

#News #Cryptoregulation #HongKong #HongKongSFC Hong Kong Financial Regulator Flags Two Crypto-Fraud Platforms: Hong Kong’s SFC has stepped up efforts to curb digital asset fraud by notifying users of two platforms. Hong Kong’s financial regulator has issued a public alert regarding the platforms’ alleged involvement in virtual asset-related fraud. This originates from the government’s repository of endeavors to expel non-compliant and unregistered corporations from the nation. Recent developments concerning […] The post Hong Kong Financial Regulator Flags Two Crypto-Fraud Platforms appeared first on Coinscreed.

Joint investigation leads to fraud, money laundering charges against self-proclaimed “Crypto King” and associate: My perspective As someone deeply involved in the financial services industry, the recent charges against the self-proclaimed "Crypto King," Aiden Pleterski, and his associate Colin Murphy, serve as a stark reminder of the critical importance of due diligence and regulatory compliance. Key Insights from the Case: Magnitude of Fraud and Money Laundering: Mr. Pleterski and Mr. Murphy have been charged with serious offences, including fraud over $5,000 and laundering proceeds of crime. These charges reflect the significant financial damage that such fraudulent schemes can cause to investors and the broader financial system. Joint Task Force Efficiency: The success of Project Swan, a collaborative effort between the Durham Regional Police Service (DRPS) and the Ontario Securities Commission (OSC), underscores the importance of multi-agency cooperation in tackling financial crimes. This approach ensures comprehensive investigations and strengthens the enforcement of financial regulations. Role of FINTRAC and Financial Intelligence: The involvement of FINTRAC highlights the crucial role of financial intelligence units in identifying and prosecuting financial crimes. By tracking suspicious transactions and analysing financial patterns, FINTRAC helps safeguard the integrity of the financial system. This case also highlights the ongoing risks in the rapidly evolving cryptocurrency market. Investors must exercise caution and verify the credentials of anyone offering investment opportunities, especially in the crypto space. At Clarity Global, we prioritise compliance and transparency to protect our clients and uphold the highest standards of financial integrity. Staying informed about regulatory developments and enforcement actions is essential for maintaining trust and security in the financial services industry. If you're looking for strategic money solutions that emphasise security and compliance, feel free to connect with me. Let's work together to foster a safer and more transparent financial ecosystem. #FinancialServices #Compliance #FraudPrevention #CryptoRegulation #FINTRAC #OSC #InvestorProtection #ClarityGlobal #FinancialIntegrity #ProjectSwan

The rise of fraudulent #crypto asset-related investments is a growing concern, with staggering losses impacting many. Learn how to protect your assets and stay ahead of financial crime. 🔗 Visit our website at Velocity for more insights and expert solutions! - https://lnkd.in/gyv4Vme5 #AlacerGroup #VelocityFinCrime #FinCrime #Compliance #ComplianceSolutions #AntiFinancialCrime #AntiMoneyLaundering #FinancialSecurity #2024Trends #AMLSoftware #CryptoMonitoring