Tag: tether
Cryptocurrency Laundering Top Dog Arrested
Russian-Swedish native Roman Sterlingov has been sentenced to twelve years in prison for his alleged involvement in Bitcoin Fog, the longest-running cryptocurrency laundering service on the dark web. Sterlingov reportedly operated Bitcoin Fog for a decade and processed over 1.2 million Bitcoin, valued at approximately $400 million at the time of the transactions. Bitcoin Fog ran from 2011-2021 and quickly garnered a reputation among the dark web community as the “go-to” cryptocurrency “mixer” for cybercriminals looking to hide their illicit funds from law enforcement. Bitcoin Fog would pool the “dirty” cryptocurrency and redistribute it in order to make the funds untraceable. According to court documents, the cryptocurrency laundered was mainly derived from darknet marketplaces tied to illegal narcotics, identity theft, and child sexual abuse material.
77% of CEOs Believe AI More Risk Than Reward in Cyber – January 16th
Despite the hype of AI in cybersecurity, a PwC survey revealed that 77% of CEOs still believe AI increases the risk of breaches rather than boosts cybersecurity. The PwC survey interviewed 4,700 executives globally, the majority of whom are CEOs. The survey also found that 63% of respondents believed AI to be a misinformation risk, causing a barrier for legal and reputational damage stemming from generative AI.