📈 Web3 TLDR: 🦹♂️ Dutch Crypto Launderer Busted!
The Web3, NFT and Crypto Newsletter
Here Are The Things You Need to Know:
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- 👮♂️ Korean Government turns the heat up on Do Kwon
- 🦹♂️ Dutch Crypto Launderer Busted!
- 🎣 "The Merge" Phishing Scams On The Rise
Job of the week
AND NOW THE NEWS
Korean Government turns the heat up on Do Kwon
A court in South Korea has issued an arrest warrant for Do Kwon, the founder of Terraform Labs, the crypto ecosystem whose two tokens lost $40 billion in value in a span of days earlier this year.
Kwon, the founder of blockchain platform Terraform Labs, has been accused of fraud by investors in the wake of the collapse.
Kwon said in an interview to Coinage last month that South Korean prosecutors hadn’t been in contact with him and he hasn’t been charged with anything even though law enforcement is barring his employees from leaving the country.
Kwon has retreated to Singapore for the time being so the waiting game now starts to see if Kwon will return to South Korea to turn himself in.
Written by: WarBiscuitNFT
Dutch Crypto Launderer Busted!
A 39 year old Dutch man was arrested Wednesday for allegedly laundering tens of millions of Euros via cryptocurrencies, as part of larger push to crackdown on crypto-releated financial crimes in the Netherlands. The arrest stemmed from authorities tracing stolen Bitcoin from a software patch of the Electrum bitcoin wallet. Monero (XMR) was the primary crypto medium he used to attempt masking the source of funds, but was discovered through open ledger transactions eventually. This follows the scrutinized arrest of a Tornado Cash developer last month by Dutch police as well.
More countries are stepping up the pursuit of finding scammers and crooks, which is a good thing for crypto as a whole. As I've mentioned in posts before, I do believe in crypto privacy for the average individual, but not at the expense of someone's hard earned money being taken away from them through criminal activities, and laundering is on that list. Hoping this deters some of those thinking they'll get away with it, because chances are growing that they might not....
"The Merge" Phishing Scams On The Rise
Twitter has been seeing an influx of Vitalik impersonators, with profiles looking exactly as the one and true profile, upon first glance. The kicker? They're all verified to make it even hard to discern for some users. These fake profiles have been circulating phishing attempts ahead of the Merge, hoping to lure someone unsuspecting into the scam. NYC Web3 identified at least 4 fake handles, which also seems to be owned by the same person or group of people, as they are all retweeting each others phishing tweets. Elon Musk recently tweeted the problem, no doubt in an attempt to separate himself even further from his previous takeover plans.
Be careful everyone! And let's be honest, would the Vitalik we know ever push a shill post like this?? Also look twice, before clicking once. That needs to be the new crypto mantra so we don't fall for ignorant scams like these!
One Last Thing...
Anyone else miss minting season?
Wen it’s 1 mint per wallet
— seoh.eth (@itstaeminkim)
Sep 12, 2022
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