So Crypto Rover tagged Grok to select a winner for a giveaway and it began replying about his involvement in pump and dump schemes and sketchy promotions and is refusing to select a winner.

A recent cyberattack on the Central Bank of Brazil services provider C&M resulted in a breach to the reserve accounts of six financial institutions where attackers converted stolen fiat to crypto. I began working on an initiative that has helped freeze ~$5M across multiple exchanges and blockchains. A special thanks goes to @Tether_to , @Binance Security Team, @Bitso, @Bybit_Official Compliance Team, & @CFInvestigators. Collaboration within the private sector is the most effective way to combat illicit activity and push our industry forward.

The crime supercycle is indeed very real. While it’s true the industry has historically been ripe for abuse it has noticeably increased since politicians launched meme coins and numerous court cases were dropped further enabling the behavior. Laundering groups and small OTC brokers have seemingly won the battle for Lazarus Group after successfully laundering recent hacks (Bybit, DMM Bitcoin, WazirX, etc) with ease. I estimate the Black U market on Tron is no less than $5-10B and largely unattributed. A number of teams sit and watch collecting fees doing nothing when >50% of the activity for their protocol comes from stolen funds. Influencers and KOLs face zero repercussions for scamming followers / projects. Courts siding with smart contract exploiters due to outdated laws. Can we fix the system if the vast majority of people still do not care unless they lose money? It's concerning about what the long term ramifications may be even if these decisions benefit us in the short term. If you ever wanted the opportunity to extract from the industry there's not been much of a better time. Take a chance what's the worst thing that could happen if everyone's already doing it? That said there's never been a worse time to be doing black hat (phishing, social engineering, robberies) vs gray hat activity when the current environment is favorable. Surely this time is different…

Here’s more lore about Malone Lam we uncovered during the $243M Genesis Creditor theft. On June 23, 2024 Mark Cuban fell victim to a social engineering scam losing crypto assets from his public wallet markcuban.eth We noticed the exact same device indicators in the Cuban theft as the $243M theft across multiple transactions where funds were laundered. Yesterday the superseding indictment was unsealed that hints at Lam and Chen’s involvement in Cuban’s theft with a matching date/amount. Theft address 0x733ea491051929d0b6619425e088d210deb5cbe6

Fresh out of @zachxbt TG channel. Another $45M+ stolen using social engineering at #Coinbase I would highlight observation by Zack. We never see this happening with other exchanges, not at this magnitude. 👀

Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M) Theft address bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike 50%.

catching thieves irl

A few hours ago it was announced that $31M from the Uranium Finance exploit was seized by US law enforcement. In Dec 2023 I posted an investigation for the $50m Uranium exploit on BSC detailing how the exploiter had laundered $10.5M via Magic The Gathering trading cards using a broker and shared my Tornado Cash demix for 11.2K ETH from the attack.

1/ Earlier this year in April 2024 a Coinbase Commerce contract saw $15.9M of suspicious outflows indicating a merchant had potentially been exploited. Shortly after a threat actor with the alias ‘Excite’ began showing off the stolen funds in chats. Let’s dive in.

1/ An investigation into how the threat actor Serpent went from a pro Fortnite player to helping steal $3.5M via meme coin scams launched from 9+ account compromises on X & IG and gambling the proceeds away at online casinos.