As part of our regular weekly roundup, Coinsquare News covers the week’s notable international cryptocurrency and blockchain headlines. In this edition, we look at the news involving the local Canadian police, the suspension of two crypto exchanges by Australian regulators and much more.
Calgary police seek help in investigating bitcoin-related crimes
In local news this week, the Calgary Police Service (CPS) released a press release listing public assistance in identifying the four wanted men. According to the release, four suspects have been charged with bitcoin fraud.
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The CPS Cyber Crime Team has released details of 112 fraudulent Bitcoin kiosks across seven Canadian cities. The locations in question are Toronto, Montreal, Ottawa, Hamilton, Winnipeg, Sherwood Park and Calgary.
Police believe the suspects were deliberately involved in an exploitation known as double the cost of stealing digital assets worth $ 195,000 CAD from bitcoin kiosk operators. Now, the Calgary Police Service is urging individuals who have information about the identities of these suspects to contact them, regardless of their jurisdiction.
Australian authorities have suspended two exchanges for drug-related offenses
While police in Canada are searching for suspects in bitcoin fraud, Australian authorities are cracking down on cryptocurrency exchanges for alleged links to criminal activity.
The Australian Transaction Reports and Analysis Center (AUSTRAC) recently suspended two cryptocurrency exchanges for drug trafficking offenses.
In late 2017, a law was introduced in Australia that allowed AUSTRAC to monitor cryptocurrency exchanges. According to Reuters, this marks the first time that AUSTRAC has used its newly acquired authority to suspend a cryptocurrency exchange.
A joint statement between Astrak and the Australian Federal Police (AFP) further claimed that a 27-year-old man accused of trafficking and possessing about 30 kg of drugs such as cocaine was accused of being a key member of the now-suspended exchange.
U.S. authorities take action against alleged OneCoin pyramid scheme
Reuters recently reported criminal charges against suspected cryptocurrency leaders who are accused of operating as a large-scale pyramid scheme.
U.S. prosecutors believe that OneCoin, a cryptocurrency founded by Konstantin Ignatov and Ruza Ignatova, is deceiving investors behind a high-return and low-risk investment platform.
In addition, prosecutors have claimed that 1.2 billion was laundered through at least 21 countries as part of the investigation.
“[The defendants] Has created a multibillion-dollar cryptocurrency company based on lies and deception, “said U.S. Attorney Geoffrey Berman in a statement. “Investors became victims while defendants became rich.”
The founding couple have been charged with multiple felony criminal mischiefs, including wire fraud, as the case goes to U.S. District Court for the Southern District of New York.
A startup in Vietnam wants users to pay crypto for their data
Nikkei reported earlier today that a Vietnam travel startup is trying to gain a competitive edge over its peers by allowing customers to trade their personal data in exchange for cryptocurrency rewards.
The Singapore-based startup Trip is interested in buying information from customers about upcoming travel plans, and is willing to pay for this information in the form of a cryptocurrency called TriipMiles, the report said.
Depending on the startup, TriipMiles can be used to reduce the cost of booking and services. This data will then be sold to third parties, such as restaurants and hotels, for targeted advertising purposes.
“Many businesses are paying Google and Facebook a lot for your data to advertise and they don’t [money] I’m coming back to you, “said Hi Ho, CEO of Trip. “We want to change that. If a business gives us $ 10, I keep $ 5 and I give you 5. I think it’s fair.”
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