Bitcoin

<ul><li>U.S. DOJ stated Law Enforcement seized 18 crypto ATMs.</li><li>Bitcoin ATM operator laundered $3M worth of cryptocurrencies.</li></ul>The U.S. Department Of Justice (DOJ) proclaimed that law enforcement had seized 18 crypto ATMs in Texas and Oklahoma. These ATMs were obtained from the SBA fraudulent loans which got harmed by the COVID-19 pandemic. And they were accustomed to buying bitcoin from the New York-based <a href="https://thenewscrypto.com/tag/exchange/" rel="noopener noreferrer nofollow">cryptocurrency exchange</a>.For this case, the <a href="https://thenewscrypto.com/tag/usa/" rel="noopener noreferrer nofollow">U.S.</a> Attorney’s officials announced that Charles Riley Constant, the founder of Coindawg got arrested for money laundering by the Small Business Administration (SBA).<h3 id="unregulated-crypto-atms-seized">Unregulated Crypto ATMs Seized</h3>On Thursday, U.S. DOJ declared that Constant laundered over $1M for the business titled ‘Coindawg LLC’ along with ‘Coindawg’s website’. The DOJ noted that the seven crypto ATMs utilized at the start of the year 2020 fall, from the harmed COVID-19 SBAs to generate revenue in order to expand the firm – with false identities. Constant also used the New York-based <a href="https://thenewscrypto.com/bitcoin-news/" rel="noopener noreferrer nofollow">bitcoin</a> exchange to distribute with his co-conspirators.Up to the minute, the cryptocurrency worth over $3 million along with 15% transaction charges laundered in the process. Meanwhile, he acquired $1M in SBA loans by laundering bitcoin through him and his followers. Hence, the U.S. regulator prisoned the Bitcoin ATM operator for the case.According to the records of Coin ATM Radar, 31,311 Bitcoin ATMs installed in the US. In 2023, there is a 4% decline in the count of Crypto ATMs in the world. One of the reasons for the decline might be the closure of such ATMs due to fraudulent activities.

U.S. DOJ Captures 18 Fraudulent Crypto ATMs

目次

TheNewsCrypto

2023年3月28日公開の他の記事

METALSWAP DEFI USE CASE: VOLATILITY UPCOMING IN SHANGHAI UPDATE

Avenged Sevenfold Leads Ticketmaster’s NFT Token-Gating Feature

SuperEx Medium Call for Submissions Q&A

Ethereum’s “Shapella” Upgrade Officially Scheduled for April 12th

Alibaba, China’s Biggest Tech Conglomerate, to be Split into Six Units

NILE Kari project Special EVENT

ニュースレターを購読して暗号資産の最新情報を毎日入手！