BTC $85,267.64 +0.71%
ETH $2,700.48 +0.55%
BNB $788.15 +2.39%
XRP $1.50 +0.82%
SOL $121.25 +1.55%
TRX $0.3360 -0.16%
DOGE $0.0934 +0.72%
ADA $0.2452 -0.08%
BCH $318.22 +1.98%
LINK $14.10 +1.12%
HYPE $90.27 +2.55%
AAVE $179.85 -1.78%
SUI $1.17 -0.14%
XLM $0.2160 +0.63%
ZEC $1,333.19 +1.31%
AAPL $333.35 -0.04%
AMZN $252.40 +0.22%
GOOGL $344.00 +0.26%
MSFT $517.96 +0.12%
META $729.63 +0.14%
NVDA $234.67 +0.08%
TSLA $371.35 +0.10%
SNDK $1,716.99 -0.04%
INTC $118.86 +0.52%
SPCX $159.26 +0.12%
MU $1,068.58 -0.12%
AMD $632.78 +0.06%
BTC $85,267.64 +0.71%
ETH $2,700.48 +0.55%
BNB $788.15 +2.39%
XRP $1.50 +0.82%
SOL $121.25 +1.55%
TRX $0.3360 -0.16%
DOGE $0.0934 +0.72%
ADA $0.2452 -0.08%
BCH $318.22 +1.98%
LINK $14.10 +1.12%
HYPE $90.27 +2.55%
AAVE $179.85 -1.78%
SUI $1.17 -0.14%
XLM $0.2160 +0.63%
ZEC $1,333.19 +1.31%
AAPL $333.35 -0.04%
AMZN $252.40 +0.22%
GOOGL $344.00 +0.26%
MSFT $517.96 +0.12%
META $729.63 +0.14%
NVDA $234.67 +0.08%
TSLA $371.35 +0.10%
SNDK $1,716.99 -0.04%
INTC $118.86 +0.52%
SPCX $159.26 +0.12%
MU $1,068.58 -0.12%
AMD $632.78 +0.06%

cas

All
Article
Flash

The Inner Mongolia police in China are investigating a virtual currency money laundering case that used "free credit card repayment" as bait, involving nearly a thousand accounts

Recently, the police in Baotou, Inner Mongolia, China, investigated a virtual currency money laundering case. The criminal gang used "free credit card repayment" as bait to attract ordinary users to provide accounts. They received illicit funds from overseas gambling and fraud through false consumption, then contacted currency dealers to exchange for virtual currency and transferred it to designated addresses abroad. Through financial and on-chain data analysis, the police identified nearly a thousand involved accounts, with suspects distributed across Inner Mongolia, Shandong, Jiangsu, Hebei, Chongqing, and other regions.The Digital Currency Research Institute of the People's Bank of China stated that it is currently using large model technology to analyze the flow of funds in virtual currency transactions, restore the gang's trading patterns, and uncover clues related to illegal industries. Upon investigation, it was confirmed that seven members of the gang were illegally engaged in payment settlement business without approval from relevant national authorities, constituting the crime of illegal operation, and were sentenced to imprisonment ranging from one year and two months to two years and six months, along with fines.Using virtual currency for money laundering is a new type of money laundering crime that has emerged in recent years. Lv Wei, the president of the Inner Mongolia branch of the People's Bank of China, stated that enhancing the monitoring and identification capabilities for abnormal fund transactions related to virtual currency trading has helped successfully crack down on a major money laundering case involving virtual currency pyramid schemes, dismantling more than ten money laundering and points-running dens, and confiscating illegal gains of approximately 130 million yuan. In recent years, there have been coordinated efforts to promote the conviction and sentencing of four cases involving money laundering using virtual currency, forming a strong deterrent against illegal activities such as money laundering with virtual currency.

first_img Zcash released Udon, incorporating the Tachyon scaling code into Zakura Common

According to CoinDesk, Zcash developers are integrating part of the proposed scaling upgrade code, Tachyon, into the software already in use to prepare for a large number of privacy transactions in the future. This component is named Udon, originally developed as part of Project Tachyon.According to Sean Bowe, the head of Project Tachyon, Udon was released on Monday to Zakura Common, which is a cryptographic library shared by Zakura and other Zcash projects. Common is responsible for handling some of the heavy mathematical computations behind creating and verifying privacy transactions, with Zakura being jointly developed by Bowe's team and Dev Ojha's Valar Group.Zcash wallets need to prove the validity of a privacy payment without disclosing the payer, payee, or amount, and the computers running the network subsequently verify that proof. According to CoinDesk's report in August, previous improvements to Common have reduced the time to create a privacy transaction from over 3 seconds to under 200 milliseconds in some tests.If privacy payments become more common, these computers will need to handle more data. Udon brings some of the computational requirements for the proposed scaling upgrade of Tachyon into Common, allowing developers to continue building on the already accelerated code. Udon has been released as software, but the upgrade has not yet been activated on Zcash.Bowe and Ojha's long-term goal is to exceed 50,000 payments per second. At this rate, they estimate that current cryptography will allow each Zcash node to receive over 500 MB of data per second.
app_icon
ChainCatcher Building the Web3 world with innovations.