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Michigan men offered thousands in cryptocurrency for ‘physical harm’ against business associate: police report

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Michigan men offered thousands in cryptocurrency for ‘physical harm’ against business associate: police report

FLINT, MI – Two males are accused of providing upward of $100,000 in cryptocurrency “in trade for specified acts of aggression and bodily hurt” to one in every of their enterprise companions between June and July 2021, acts that vary from burning property related to the person to killing him.

Joshua Ray Barrett and Steven Christopher Craven are every charged with one depend of solicitation of homicide, a felony punishable by imprisonment for all times or any time period of years.

Each males have been arraigned on April 13 in Genesee County District Court docket, the place they pleaded not responsible to their expenses.

Craven, of Burton, overtly provided growing quantities of cryptocurrency relying on the severity of bodily hurt inflicted upon the sufferer, with the best payout being for inflicting loss of life and a lesser quantity for inflicting “nice bodily hurt,” in response to statements contained in a Michigan State Police report. MLive-The Flint Journal obtained these data via a Freedom of Data Act request.

Barrett, of Brighton, was current for lots of the conversations by which Craven provided others cash, in response to the reviews.

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Michael Ewing, Craven’s lawyer, stated the case features a “surprising lack of proof.”

“The one and solely witness had an axe to grind with Mr. Craven and his enterprise accomplice,” Ewing instructed MLive-The Flint Journal. “After they acquired a PPO in opposition to the witness, these allegations appeared from skinny air.”

Messages left for Kevin Nagle, an lawyer for Barrett, in addition to the Genesee County Prosecutor’s Workplace weren’t instantly returned.

The sufferer first spoke with MSP troopers on the MSP Flint Submit in January. He was a longtime enterprise accomplice of Craven’s, having labored with him at a property administration firm, a fertilizer firm and a membership.

In line with a abstract of the dialog he had with troopers, the sufferer instructed authorities that two males he’d by no means met earlier than had been wanting to fulfill with him and have been in concern for his security as a result of his “life could possibly be in jeopardy.”

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He instructed police he’d been instructed that Craven had instructed loosening the lug nuts on his automobile, that Craven had instructed folks he needed the sufferer to be put into the hospital, and {that a} fee construction had been developed to find out how a lot cash can be paid out relying on the quantity of hurt executed to the sufferer.

“(Witness) instructed him Craven provided him cryptocurrency to ‘take him out,’” MSP D/Sgt. Jonathan Miller wrote in a report describing the dialog he had with the sufferer.

“It will be the best $15,000 he ever made”

In January, a witness spoke with MSP Trp. Taylore Drye, saying there have been a number of events between June and July 2021 by which Craven and Barrett solicited help in burning down a enterprise affiliated with the sufferer.

The witness described the 2 males as “companions in crime” who have been closely concerned within the Michigan hemp and medical marijuana industries, in response to statements made to MSP investigators.

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The 2 males had business-related tensions with the sufferer that had existed for a really very long time. He described two cases the place cash was exchanged for hurt to the sufferer. In mid-June 2021, Craven approached one particular person within the presence of Barrett and provided to pay $15,000 in bitcoin or XRP cryptocurrency to burn a redacted property affiliated with the sufferer.

When the particular person declined the provide, Craven requested if he knew another person who would have an interest, including he had a particular plan of motion for efficiently burning the property down.

Craven provided to drive the person down a close-by aspect avenue and stated it might be the “best $15,000 he ever made.”

The witness instructed MSP about overhearing a second dialog referring to the alleged solicitation for homicide in July 2021. The person stated he overheard Craven inform an unknown particular person on the telephone, “for 25, get one thing executed with him.”

On Jan. 11, one other witness instructed MSP that Barrett had beforehand stated he had individuals who have been ex-military who may take folks out for him by “having them executed.”

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“(Witness) felt that if the chance arose and so they felt they may get away with it, the plan to hurt (the sufferer) would transfer ahead, and Craven and Barrett would both ‘burn him out or take his life,’” the detective wrote, summarizing an interview between himself and the witness.

Craven and Barrett have been arrested on April 12 and lodged on the Genesee County Jail.

Each males are at the moment free on private recognizance bonds. Stipulations of their bond require them to keep away from contact with one another, contact with the sufferer within the case, to not possess or buy firearms or ammunition and places them underneath a 24-hour curfew.

Craven is also on a GPS tether.

A preliminary examination is scheduled for each males on June 3.

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Learn extra at The Flint Journal:

Trio charged in reference to Genesee County unlawful playing facility face June sentencing date

Former Burton cop ordered to pay again over $3,100 in embezzlement case

MSP points search warrant for Genesee County dwelling as a part of Operation Sweet Man

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North Korea launders $147.5 million in stolen cryptocurrency, UN experts reveal

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North Korea launders $147.5 million in stolen cryptocurrency, UN experts reveal

North Korea funnelled $147.5 million through the cryptocurrency mixer platform Tornado Cash in March, according to a confidential report by United Nations sanctions monitors reviewed by Reuters.

This illicit activity follows a hack on the HTX cryptocurrency exchange late last year, marking a major case in a broader pattern of North Korean cyber thefts targeting digital currency platforms.

The UN monitors reported to the Security Council sanctions committee that they have been investigating 97 suspected North Korean cyberattacks on cryptocurrency firms from 2017 to 2024, with total stolen funds amounting to approximately $3.6 billion.

The $147.5 million laundered in March was linked directly to the HTX exchange breach, based on data from crypto analytics firm PeckShield and blockchain research firm Elliptic.

In 2024 alone, the monitors have scrutinised 11 cryptocurrency thefts valued at $54.7 million, noting that many of these attacks might have been inadvertently facilitated by small crypto-related companies hiring North Korean IT workers.

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These workers, operating abroad, reportedly generate substantial income for the isolated nation, which continues to face severe international sanctions aimed at curbing its nuclear and missile programs.

North Korea, officially known as the Democratic People’s Republic of Korea (DPRK), has been under UN sanctions since 2006.

Despite these measures, the country has continued to find ways to finance its prohibited activities, including through cybercrime and the use of virtual currency mixers like Tornado Cash.

The US sanctioned Tornado Cash in 2022 for allegedly supporting North Korean money laundering activities.

In 2023, two of its co-founders were charged with facilitating over $1 billion in illicit transactions, including for a North Korean cybercrime group.

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Virtual currency mixers like Tornado Cash function by blending cryptocurrencies from various users, obscuring the origin and ownership of the funds.

This makes them attractive tools for laundering stolen cryptocurrency.

Lawyers for Tornado Cash co-founder Roman Storm, who pleaded not guilty to US charges in September, did not immediately respond to requests for comment.

The UN sanctions monitors faced a setback when their mandate expired at the end of April due to a Russian veto against its renewal.

Despite this, some monitors submitted incomplete work, including the findings on North Korea’s cryptocurrency activities, to the Security Council’s North Korea sanctions committee.

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In addition to cyber theft, the UN monitors have been investigating reports of Russia releasing $9 million of North Korea’s frozen assets and allowing Pyongyang to open an account at a Russian bank in South Ossetia.

This arrangement is reportedly aimed to enhance North Korea’s access to international banking networks.

Furthermore, the monitors observed continued maritime activities suggesting ongoing arms trade between North Korea and Russia.

Ships suspected of carrying weapons have been seen travelling between North Korea’s Rajin port and Russian ports like Vladivostok and Vostochny.

China has also been implicated, with a North Korean vessel reportedly undergoing maintenance at China’s Ningbo port.

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The US and its allies have accused North Korea of supplying weapons to Russia for use in the ongoing conflict in Ukraine, a charge both Moscow and Pyongyang deny.

However, both nations have committed to deepening their military cooperation.

In an additional report last month, UN monitors confirmed that debris from a missile that landed in Kharkiv, Ukraine, in January was from a North Korean Hwasong-11 series ballistic missile.

This highlights North Korea’s ongoing missile development and potential involvement in global conflicts.

North Korea’s evasion of UN sanctions continues to be a significant issue.

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The monitors documented 208 voyages by North Korean cargo ships suspected of offloading coal in Chinese waters, often through ship-to-ship transfers.

Chinese Coast Guard vessels were observed in proximity to these transfers, raising questions about enforcement and compliance with international sanctions.

The Chinese mission to the UN did not immediately respond to requests for comment on these findings.

(With inputs from Reuters)

Shashwat Sankranti

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Breaking and writing stories for WION’s business desk. A literature nerd, closeted poet and a novelist (in the making). 


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Crypto NFT Today: The Latest News in Blockchain, Cryptocurrency, & NFTs- May Week 2 – Innovation & Tech Today

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Crypto NFT Today: The Latest News in Blockchain, Cryptocurrency, & NFTs- May Week 2 – Innovation & Tech Today

Welcome to another edition of Crypto NFT Today! The past two weeks have been full of must-know events that’ll be defining points for the future of blockchain, cryptocurrency, and NFTs.

With President Biden blocking a Chinese bitcoin mine, Wells Fargo announcing new investments in ETFs, and more, there’s lots of essential news you should know about. So, let’s dive in and see what’s happening! 

President Biden Blocks Chinese Bitcoin Mine

On May 14, President Joe Biden issued a directive prohibiting a Chinese-backed cryptocurrency mining company from possessing land adjacent to a nuclear missile base in Wyoming, citing concerns about national security.

The directive mandates the sale of property utilized as a cryptocurrency mining facility near the Francis E. Warren Air Force Base. MineOne Partners Ltd., a company partially supported by Chinese investors, and its subsidiaries are instructed to dismantle specific equipment on the premises.

This action coincides with the United States’ plans to impose significant new tariffs on electric vehicles, semiconductors, solar equipment, and medical supplies imported from China.

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Wells Fargo Announces Investments in ETFs

According to a regulatory disclosure, Wells Fargo & Company (WFC) has revealed its involvement in cryptocurrencies by investing in several Bitcoin exchange-traded funds (ETFs). This move reflects a growing interest in digital assets within the financial sector.

The disclosure indicates that Wells Fargo has acquired shares of Grayscale’s GBTC Bitcoin ETF, providing the bank with approximately $141,817 worth of exposure to the digital currency. Additionally, Wells Fargo has made a smaller investment of less than $1,200 in the ProShares Bitcoin Strategy ETF (BITO). This ETF enables investors to gain exposure to Bitcoin futures contracts, allowing them to speculate on the future price movements of the cryptocurrency.

Wisconsin Buys Blackrock Spot Bitcoin ETF

According to a filing, the U.S. state of Wisconsin acquired 94,562 shares of BlackRock’s iShares Bitcoin Trust (IBIT) in the first quarter, valued at nearly $100 million.

Following this news, Bitcoin experienced a 1% increase, currently trading at $61,957. However, it saw a 1.7% decline over the past 24 hours, coinciding with the release of new inflation data exceeding expectations during U.S. morning hours.

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Wisconsin, which submitted its quarterly 13F report to the Securities and Exchange Commission (SEC) on Tuesday, becomes the first state to publicly disclose its bitcoin investment. Additionally, the state’s investment board bought shares of Grayscale’s Bitcoin Trust (GBTC) valued at approximately $64 million.

OKX Australia Launches

OKX, a cryptocurrency exchange, has launched its services in Australia, offering spot and derivatives trading options for local users.

This move follows OKX’s establishment of a Sydney office in May last year and marks the latest expansion into international markets, joining previous entries in countries like Turkey and Singapore.

OKX’s expansion into Australia reflects the growing interest in cryptocurrencies among Australians. Notably, the Australian Securities Exchange (ASX) is considering the potential introduction of Spot Bitcoin ETFs by the end of 2024.

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Cryptocurrency Litecoin Falls More Than 3% In 24 hours By Benzinga

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Cryptocurrency Litecoin Falls More Than 3% In 24 hours By Benzinga

Benzinga – by Benzinga Insights, Benzinga Staff Writer.

Over the past 24 hours, Litecoin’s (CRYPTO: LTC) price has fallen 3.08% to $78.86. This continues its negative trend over the past week where it has experienced a 3.0% loss, moving from $82.02 to its current price.

The chart below compares the price movement and volatility for Litecoin over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has increased 2.0% over the past week while the overall circulating supply of the coin has increased 0.0% to over 74.53 million which makes up an estimated 88.73% of its max supply, which is 84.00 million. The current market cap ranking for LTC is #21 at $5.88 billion.

Powered by CoinGecko API

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This article was generated by Benzinga’s automated content engine and reviewed by an editor.

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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