61,000 BTC Seized in Ponzi Scheme Investigation

According to The Telegraph, the UK’s Home Office, in collaboration with law enforcement, is working toward selling a large crypto reserve seized from criminal activity. A major portion of the stockpile — 61,000 Bitcoin — was confiscated from a Chinese Ponzi scheme operating in the UK in 2018.

You Might Be Interested In: Sonic SVM Research: Can New Stablecoins Shake Up the Old Order?

A woman linked to the case was sentenced to over six years in prison in 2024 for laundering 150 BTC. Although victims are demanding the return of the funds, the Crown Prosecution Service has petitioned the High Court to retain the seized BTC and transfer the funds to the Treasury after liquidation.

Chancellor Eyes Crypto Sale Amid Budget Gaps

The move has reportedly gained the attention of Chancellor of the Exchequer Rachel Reeves. Facing a substantial budget shortfall, Reeves said in April that she supports working with the United States to establish clearer regulatory frameworks for crypto assets.

“Robust rules around crypto will boost investor confidence, support the growth of Fintech, and protect people across the UK,” Reeves previously stated.

As part of the effort, a police-owned procurement company, BlueLight Commercial, issued a $53.7 million tender for a centralized system to securely store and sell seized crypto. However, no qualifying bids have been accepted so far.

Legal Delays May Stall Liquidation Timeline

The greatest challenge remains the legal clearance process. According to the tender documents, the average time from seizure to sale of digital assets is about one year — but for complex cases, it may stretch to three or four years. Therefore, despite forward steps, the actual sale could face significant delays.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post UK Prepares to Sell $7 Billion Worth of Seized Bitcoin appeared first on Coin Engineer.

The Bybit hack was executed by Lazarus, a North Korea-linked cybercrime group. The FBI labeled the incident as the “TraderTraitor” operation. The stolen amount surpassed all North Korea-related cyber thefts in 2024. 

Lazarus’s “Flood the Zone” Tactic Exposed 

After the attack, Lazarus rapidly laundered the stolen funds through multidirectional, high-frequency transactions. This method, called “flood the zone” by TRM Labs, aims to overwhelm exchange compliance teams and blockchain analytics firms. 

TRM Labs stated, “This tactic involves intense, simultaneous transfers designed to drown regulators and analysts. The Bybit hack clearly showed an increased use of this method.” This reveals significant security gaps in the digital asset ecosystem. 

Meanwhile, Chainalysis experts traced suspicious wallets linked to a local crypto exchange in Greece. As a result, the assets held by the exchange were frozen. This step underlines the critical role of international cooperation in fighting crypto crimes. 

A New Chapter in Global Crypto Regulation 

Greek Finance Minister Kyriakos Pierrakakis commented on the case: “Thanks to blockchain’s traceability, international cooperation can stop financial crimes.” 

This operation may inspire similar actions in countries like South Korea and the U.S. Centralized exchanges such as Bybit must strengthen security after such attacks. The rise in investments across DeFi and CeFi platforms makes this increasingly important. According to DeFiLlama, the total value locked (TVL) reached $121 billion in July 2025. 

This development highlights cybersecurity as a top priority in crypto markets. Moreover, blockchain’s transparency enables more effective combat against cybercrime. 

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Bybit Hack Aftermath: Greece Freezes Crypto Assets! appeared first on Coin Engineer.

In a rule proposal released on May 1, the Treasury’s Financial Crimes Enforcement Network (FinCEN) urged US banks to terminate correspondent and payable-through account services for Huione.

Deputy Treasury Secretary Scott Bessent described Huione as the “marketplace of choice for malicious cyber actors,” accusing it of aiding the theft of billions from ordinary Americans.

$4B Laundered, USDH Highlighted

According to FinCEN, Huione laundered over $4 billion in illicit funds between August 2021 and January 2025, including at least $36 million from crypto “pig butchering scams” and $37 million directly linked to North Korean cyberattacks.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Its online service Haowang Guarantee has turned Huione into a one-stop crypto laundering hub, offering illegal goods and converting crypto to fiat currency.

FinCEN also flagged Huione’s stablecoin, the USDH (US dollar Huione), for its unfreezeable nature, which allegedly supports laundering operations.

Indirect US Bank Access and Regulatory Action

While Huione doesn’t hold direct accounts with US banks, FinCEN revealed it maintains accounts with foreign intermediaries that do, giving it indirect access to the US financial system.

The National Bank of Cambodia revoked Huione’s local banking license in March 2025, citing digital asset violations.

The proposed rule will undergo a 30-day public comment period before potentially being finalized.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post US Treasury Moves to Cut Off Huione Group Over Crypto Crime Ties appeared first on Coin Engineer.

Lazarus Group Laundering Crypto Assets via Mixers Following High-Profile Hacks

On March 13, blockchain security firm CertiK alerted its X followers that it had detected a deposit of 400 ETH worth around $750,000 to the Tornado Cash mixing service.

“The fund traces to the Lazarus group’s activity on the Bitcoin network,” it noted.

The North Korean hacking group is known to be responsible for the massive Bybit exchange hack on February 21, which led to the theft of $1.4 billion in crypto assets.

Additionally, it is linked to the $29 million Phemex exchange hack in January, and has continued laundering assets since.

Lazarus has also been tied to some of the most notorious crypto hacking incidents, including the $600 million Ronin network hack in 2022.

According to Chainalysis data, North Korean hackers stole over $1.3 billion in crypto assets in 47 incidents in 2024, more than doubling thefts compared to 2023.

Lazarus Group Deploying New Malware Targeting Developer Environments

According to researchers at cybersecurity firm Socket, the Lazarus Group has distributed six new malicious packages designed to infiltrate developer environments, steal credentials, extract cryptocurrency data, and install backdoors.

The group targeted the Node Package Manager (NPM) ecosystem, which is a large collection of JavaScript packages and libraries.

Researchers discovered malware called “BeaverTail” embedded in packages that mimic legitimate libraries using typosquatting tactics or deceptive methods to trick developers.

“Across these packages, Lazarus uses names that closely mimic legitimate and widely trusted libraries,” they added.

The malware specifically targets Solana and Exodus wallets.

The attack targets files in Google Chrome, Brave, and Firefox browsers, as well as keychain data on macOS, particularly targeting developers who may unknowingly install the malicious packages.

The researchers noted that while attributing the attack definitively to Lazarus is difficult, “the tactics, techniques, and procedures observed in this npm attack closely align with Lazarus’s known operations.”

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Lazarus Group Sends 400 ETH to Tornado Cash appeared first on Coin Engineer.

According to the statement, the criminal group had laundered at least $295 million through cryptocurrencies. The police investigation further uncovered that the suspects utilized local bank accounts to receive and transfer funds, while also engaging in over-the-counter (OTC) crypto transactions.

Law enforcement officials highlighted that such criminal organizations often utilize e-commerce platforms, cross-border e-commerce, and import-export companies as fronts to launder money, emphasizing the prevalent use of cryptocurrencies in these illicit schemes.

The post $300 Million Crypto-Laundering Ring Busted in China-South Korea Crackdown appeared first on Coin Engineer.