Crypto
South Korea to deploy cryptocurrency tracking system in 2023
The Ministry of Justice in South Korea introduced plans to introduce a crypto monitoring system to counter cash laundering initiatives and recuperate funds linked to prison actions.
The ‘Digital Forex Monitoring System’ can be used to observe transaction historical past, extract data associated to transactions and verify the supply of funds earlier than and after remittance, in response to native media outlet khgames.
The South Korean Ministry of Justice will introduce a “cryptocurrency monitoring system” within the first half of this yr to strengthen the monitoring of cash laundering and restoration of prison proceeds utilizing cryptocurrencies. https://t.co/2CLkaLUrX6
— Wu Blockchain (@WuBlockchain) January 29, 2023
Whereas the system is slated to be deployed within the first half of 2023, the South Korean ministry shared plans to develop an unbiased monitoring and evaluation system within the second half of the yr. A tough translation of the ministry’s assertion reads:
“In response to the sophistication of crime, we’ll enhance the forensic infrastructure (infrastructure). We’ll construct a prison justice system that meets worldwide requirements (international requirements).”
The South Korean police beforehand established an settlement with 5 native crypto exchanges to cooperate in prison investigations — to create a secure buying and selling atmosphere for crypto buyers in the end.
Associated: South Korean prosecutors request arrest warrant for Bithumb proprietor: Report
The South Korean Supreme Court docket dominated that crypto alternate Bithumb should pay damages to buyers over a 1.5-hour service outage on Nov. 12, 2017.
The finalized ruling from the Supreme Court docket ordered damages starting from as little as $6 to round $6,400 be paid to the 132 buyers concerned.
“The burden or the price of technological failures must be shouldered by the service operator, not [the] service customers who pay fee for the service,” the court docket said.
Crypto
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Crypto
RobotBulls Innovates Cryptocurrency Trading with AI and Blockchain Integration
RobotBulls, a pioneering force in the cryptocurrency market, has unveiled its latest advancements in leveraging artificial intelligence (AI) and blockchain technology to streamline the trading process.
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RobotBulls, a pioneering force in the cryptocurrency market, has unveiled its latest advancements in leveraging artificial intelligence (AI) and blockchain technology to streamline the trading process. This dual-technology approach not only simplifies trading operations but also enhances security and accuracy, providing traders from various backgrounds with an accessible and efficient trading platform.
AI and Blockchain: A Synergistic Approach for Streamlined Trading
At the heart of RobotBulls’ innovation is the integration of AI and blockchain technology. The platform utilizes advanced AI algorithms to analyze market data accurately and swiftly, offering users actionable insights to guide their trading decisions. Complementing this, blockchain technology ensures all transactions are securely recorded and immutable, reinforcing trust and transparency in all operations.
Key Features of RobotBulls: Elevating Trading Experience
RobotBulls’ platform is designed with several core features aimed at enhancing user experience:
- Streamlined Trading: Automated trading tasks allow users to execute strategies efficiently without the need for constant monitoring.
- Real-Time Analytics: The platform provides current market trend data, helping users make informed decisions and anticipate movements.
- Robust Security Measures: Leveraging blockchain, RobotBulls ensures all transactions are transparent and secure, significantly reducing the risk of tampering.
Benefits of Using RobotBulls: Efficient and Secure Trading Traders on RobotBulls enjoy multiple advantages:
- Time Efficiency: The automation of routine trading activities frees up time, allowing traders to focus on strategy development.
- Increased Precision: AI-driven analysis minimizes errors in data interpretation and trade execution.
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Continuous Innovation and Future Prospects
Committed to continuous enhancement, RobotBulls consistently upgrades its AI algorithms and explores more efficient blockchain technologies. These advancements aim to further expedite transactions and improve analytical capabilities, providing users with deeper insights and more robust trading options.
Supporting Traders with Educational Resources and Community Engagement
RobotBulls supports its users with an array of educational resources designed to aid both novice and experienced traders in navigating the platform effectively.
Additionally, the company fosters a strong community, enabling users to exchange strategies and insights, further enhancing their trading success.
Experience the Future of Trading with RobotBulls
For traders seeking to harness the potential of digital currencies through a secure, efficient platform, RobotBulls offers a powerful solution. To explore how RobotBulls can transform your trading experience, visit robotbulls.com.
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Crypto
Alleged crypto scammers arrested in $73 million 'pig butchering' scheme
The Justice Department said on Friday that it arrested two alleged scammers for laundering “at least” $73 million through shell companies connected to “pig butchering” cryptocurrency investment schemes.
In a pig butchering scam, scammers contact victims online and gain their trust before manipulating them into investing in a fake cryptocurrency.
Daren Li, a 41-year-old dual citizen of China and St. Kitts and Nevis — and resides in China, Cambodia, and the United Arab Emirates, was arrested on April 12 at Hartsfield-Jackson Atlanta International Airport. According to a Justice Department statement, he was subsequently transported to the Central District of California. Yicheng Zhang, 38, a Chinese national and resident of Temple City, California, was arrested on Thursday in Los Angeles, California, the statement said.
The DOJ accused the individuals of having lured victims into depositing money into U.S. accounts. From there, the two allegedly utilized co-conspirators to launder the money through U.S. financial institutions to Bahamas bank accounts, before converting the funds into the stablecoin Tether, also known as USDT.
“Cryptocurrency investment scams exploit the borderless nature of virtual currency and online communications to defraud victims,” said U.S. Deputy Attorney General Lisa Monaco. “While fraud in the crypto markets takes on many forms and hides in many far-off places, its perpetrators aren’t beyond the law’s reach,” the
Li and Zhang face charges of conspiracy to commit money laundering and six counts of international money laundering. According to the Justice Department, if found guilty, they could be sentenced to a maximum of 20 years in prison for each count.
Two days before announcing the arrests, the Justice Department said it arrested two brothers for allegedly stealing roughly “$25 million worth of cryptocurrency within approximately 12 seconds.” And earlier this month, the department charged ‘Bitcoin Jesus’, a.k.a. Roger Ver, with evading nearly $50 million in taxes.
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