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Next to Nice: A tale of two Slovenian cryptocurrency sponsorships – CyclingTips

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Next to Nice: A tale of two Slovenian cryptocurrency sponsorships – CyclingTips

A handful of occasions a 12 months, the professional street cyclists of the world compete of their nationwide kits slightly than their commerce crew ones. Within the case of Slovenia’s Tadej ‘Tufts’ Pogačar, that implies that in the course of his time in Wollongong he’s swapped the white, black and purple of UAE Staff Emirates for a lime inexperienced Slovenian equipment. 

Though the riders aren’t repping their common sponsors, that doesn’t imply their Worlds kits are a sponsor-free zone. Nationwide federations usually have their very own crop of backers, and within the case of Slovenia – in pleasure of place throughout their riders’ chests and backsides – is the identify ‘NiceHash’, a cryptocurrency platform which is formally headquartered within the British Virgin Islands however in sensible phrases primarily based in Slovenia. 

If a Slovenian crypto sponsor is ringing some bells for you, it’s most likely due to an ill-fated WorldTour sponsorship from the second half of the 2022 season. Don’t worry: that was NextHash, and that is NiceHash.

However the two are linked. 

Tadej Pogačar of Slovenia pops a wheelie on the males’s elite street race begin. (Picture by Tim de Waele/Getty Pictures)

As CyclingTips reported earlier this 12 months, NextHash founder Ana Benčič was at one level a 35% shareholder within the soundalike, NiceHash. The latter firm was dealing with smash after having US$80 million of bitcoin stolen by a crew of North Korean navy hackers – simply the tip of the loopy iceberg that’s that story – they usually accepted Benčič’s provide of funding to assist proper the ship. 

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When it grew to become clear that Benčič didn’t even have the funding lined up, NiceHash sued her and her associates resulting in their elimination from the corporate. Benčič had caught the crypto bug, nonetheless, and went on to ascertain the similarly-named NextHash quickly after. “Even the selection of identify for her firm is a bit humorous to say the least, and her printed supplies are similar to NiceHash,” NiceHash CMO Joe Downie instructed CyclingTips. “We simply hope individuals don’t confuse us [for NextHash], as we’re operating a profoundly totally different sort of enterprise.”

Slovenia is a small nation with disproportionate clout within the cryptocurrency sector, so regardless of NextHash’s unlucky legacy within the sport, NiceHash was not delay. The corporate signed up as a serious sponsor of the Slovenian Biking Federation earlier this 12 months, inserting their model identify prominently throughout all disciplines of the game for an preliminary time period of 1 12 months. “We’ve got been a smaller sponsor of Slovenian biking occasions for just a few years, and this chance was the subsequent logical step,” Downie instructed CyclingTips. 

The sponsorship includes the jersey placements, banners and flags on race routes, and “video time with Roglič and Pogačar for just a few media campaigns.”

“The objectives are mutually helpful, since we’re selling each a few of Slovenia’s greatest athletes (on their facet) and one of many largest Slovenian crypto corporations (on our facet), and to indicate that crypto is not within the shadows, however receives official, mainstream consideration and is useful to everybody,” Downie stated. 

Pogačar takes a break throughout coaching. Picture: Slovenian Biking Federation Fb

Whereas NiceHash’s partnership with the Slovenian Biking Federation seems to be going off with no hitch, NextHash’s legacy within the sport is much extra blended. The Staff Qhubeka-NextHash crew it sponsored folded on the finish of 2021, with crew boss Doug Ryder at the moment engaged on a return to the higher divisions of the game. Of NextHash’s lacking sponsorship funds, Ryder instructed CyclingTips right now that “we are attempting to resolve issues and have had contact.”

Current experiences in Slovenian media point out that Benčič has been charged with misuse of firm funds, and will resist eight years’ jail time. 

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So, as you watch the lads’s World Championships street race and see Tadej Pogačar animating issues with a crypto model splashed throughout his equipment – keep in mind, that’s GoodHash, not SubsequentHash. For the sake of all concerned, hopefully this one works out.

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Scammers steal $2 million in cryptocurrency from remote work seekers in New York, Florida 

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Scammers steal  million in cryptocurrency from remote work seekers in New York, Florida 

Scammers stole millions of dollars in cryptocurrency from remote job seekers in an elaborate scheme. New York Attorney General Letitia James has filed a lawsuit to recover over $2 million that she said was stolen from New Yorkers and others nationwide.

Scammers used unsolicited text messages to lure victims with promises of flexible, well-paying remote work opportunities. They claimed the job involved reviewing products online to generate market data. However, victims were told to open cryptocurrency accounts and maintain balances matching the price of products they were reviewing.

While victims believed they would receive their investments plus commissions, the funds were instead transferred into the scammers’ crypto wallets. The fake product reviews took place on a fraudulent website created as part of the scheme.

The lawsuit details seven people who were scammed. One victim, a New Yorker, lost over $100,000 while another victim from Florida lost over $300,000. These cases show the significant financial and emotional impact on the victims.

James’ office, working with Queens District Attorney Melinda Katz and her cryptocurrency unit, traced the stolen funds to specific digital wallets. Over $2 million in cryptocurrency has been frozen, ensuring it can be returned to victims.

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“Deceiving individuals seeking remote work is cruel and unacceptable,” said James. “We’re committed to holding scammers accountable and recovering stolen funds.”

Published By:

indiatodayglobal

Published On:

Jan 12, 2025

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Illegal Cryptocurrency Mixers Targeted: Operators Charged with Money Laundering – Regtechtimes

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Illegal Cryptocurrency Mixers Targeted: Operators Charged with Money Laundering – Regtechtimes

A federal grand jury in Georgia recently indicted three Russian nationals for their involvement in running illegal cryptocurrency mixer services that helped criminals launder money. The indictment, announced on January 7, 2025, involves Roman Vitalyevich Ostapenko, Alexander Evgenievich Oleynik, and Anton Vyachslavovich Tarasov. These individuals are accused of operating two online services called Blender.io and Sinbad.io, which helped criminals hide the source of their illegal funds.

A cryptocurrency mixer is a tool used to mix cryptocurrencies like Bitcoin, making it harder for authorities to trace the origin of digital money. These services are attractive to criminals involved in activities such as ransomware attacks and fraud, as they allow them to send funds anonymously.

Ostapenko and Oleynik were arrested in December 2024, while Tarasov is still on the run. The three men face serious charges related to money laundering and operating unlicensed financial businesses. If convicted, they could face up to 20 years in prison for laundering money and up to five years for running an unlicensed business. The indictment follows the earlier shutdown of the Sinbad.io service after it was seized by law enforcement in 2023.

The Role of Blender.io and Sinbad.io

Blender.io and Sinbad.io were both cryptocurrency mixers, meaning they offered a way to send digital money anonymously. For a fee, these services allowed criminals to send their funds without revealing where the money came from. This feature made these mixers attractive to those who wanted to hide stolen funds or profits from illegal activities, such as ransomware attacks, fraud, and even theft of virtual currencies.

Extradited for Fraud: Do Kwon Faces Justice After $40B Crypto Crash

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Blender.io operated from 2018 to 2022 and was known for its promise of anonymity. It advertised a “No Logs Policy,” meaning it claimed to have no records of transactions. The site also reassured users that no personal details were needed to use the service. This allowed criminals to send and receive Bitcoin without leaving a trace of their identity.

After Blender.io was shut down in 2022, the defendants launched Sinbad.io, which offered similar services. This service continued until law enforcement authorities took it down in November 2023, marking a significant victory in the fight against cybercrime. The shutdowns of both services were the result of coordinated efforts by authorities from several countries, including the U.S., the Netherlands, Finland, and Australia.

Both Blender.io and Sinbad.io were not only used by ordinary criminals but were also linked to state-sponsored hacking groups. For instance, Blender.io was used by North Korean hackers to launder funds stolen through cyberattacks. Similarly, Sinbad.io had connections to cybercriminals who targeted businesses and individuals. These cryptocurrency mixers served as a vital tool in helping these criminals profit from their illegal activities, making it harder for authorities to trace the stolen money back to its original source.

Crypto-currency Scam Wipes Out $425,000 from Ohio Man’s Retirement Fund

International Cooperation in Combating Cybercrime

The investigation into Blender.io and Sinbad.io showcases the power of international cooperation in tackling cybercrime. The indictment was made possible by the joint efforts of law enforcement agencies from different countries, including the U.S. Department of Justice, the FBI, the Netherlands’ Financial Intelligence Service, and Finland’s National Bureau of Investigation. Their collaboration helped track down the operators of these illegal services and ultimately led to their takedown.

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In addition to the U.S. authorities, international agencies like the Australian Federal Police and Finland’s National Bureau of Investigation played key roles in the investigation. Their contributions were essential in identifying the people responsible for running these cryptocurrency mixers and disrupting their illegal activities.

The importance of international cooperation cannot be overstated. Cybercrime often crosses national borders, and without the efforts of multiple countries working together, it would be much harder to stop these crimes. The arrests of Ostapenko and Oleynik, along with the ongoing search for Tarasov, send a strong message to cybercriminals around the world: law enforcement agencies are committed to identifying and holding accountable those who operate illicit financial networks.

This case highlights how dangerous these cryptocurrency mixers can be in enabling serious criminal activities. By breaking down these networks, authorities are making it harder for criminals to profit from their wrongdoing, while also protecting public safety and national security.

To read the original order please visit DOJ website

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US Rep. Bryan Steil to chair House cryptocurrency subcommittee

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US Rep. Bryan Steil to chair House cryptocurrency subcommittee

A Wisconsin congressman will head the House Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence.

Bryan Steil, a Republican representing the 1st Congressional District in southeast Wisconsin, was appointed to the role Thursday.

His subcommittee’s jurisdiction includes things like mobile banking and non-fungible tokens, or NFTs. It’ll also be the first stop for legislation on cryptocurrency.

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Digital currencies have a murky federal regulatory status. That allowed President Joe Biden’s Securities and Exchange Commission Chair Gary Gensler to go after the crypto industry.

The industry responded by spending over $130 million in 2024’s election cycle through its PAC, Fairshake.

It spent $764,206 to independently help re-elect Steil, according to campaign finance database OpenSecrets.

In a statement, Steil said “technologies like financial apps, digital assets, and machine learning revolutionize our economy,” adding that he looks forward to continuing “to provide the rules of the road to move our economy into the future.”

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Steil was appointed to his new role by House Financial Services Chair French Hill, R-Arkansas. Hill’s top campaign contributors include the CEOs of the crypto exchange platform Coinbase and the Charles Schwab Corporation.

One of his legislative priorities has been a bill that would set up clearer, crypto-friendly federal financial regulations, which passed the House with bipartisan support in May. He called Steil “instrumental” in passing that bill, and in overturning an SEC rule requiring crypto exchanges to list their digital assets as liabilities on their balance sheets.

Now, the Janesville native will oversee hearings and votes on new crypto-related legislation.

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