Criminals Direct Money Mules to Bitcoin ATMs to Launder Hacked Funds
Once the money mules purchase Bitcoin through these ATMs, they then forward the money to a specific address via a QR code. For now, it remains unsure why criminals are avoiding more common solutions such as Western Union and MoneyGram, though. Bitcoin ATMs have been relatively safe from any gang-related activity so far. That situation has come to change, as fraudsters are using these devices to launder money, according to KrebsOnSecurity. By hacking bank accounts, they deposit funds into money mules’ accounts. These mules then withdraw funds in cash and remit the stolen funds through one....
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Hackers who raid corporate bank accounts often launder stolen funds by depositing them in accounts owned by “money mules,” people recruited through work-at-home job scams. The mules are usually instructed to wire the stolen funds to the scammers. Increasingly, however, the mules are being directed to send the funds using bitcoin ATMs, according to KrebsOnSecurity. The story of a Canadian reader who contacted KrebsOnSecurity demonstrates how such scams work. One ‘Mule’s’ Experience. The reader was offered $870 per week and 5% commission for every transaction she handled for a company called....
Recently, EasyBit announced the installation of 6 Bitcoin ATMs in 4 states across the US. The company expressed confidence in the future success of these machines, even dismissing news that “money mules” had used Bitcoin ATMs to launder money as a service to other criminals. The money mule accusations are the latest in a long and growing list of alleged crimes that have been facilitated by Bitcoin and other digital currencies. Since the mainstream discovery of the Silk Road marketplace, mainstream media and anti-Bitcoin pundits have tried to connect Bitcoin use to drug trafficking,....
Attacks like these can also be used against Bitcoin ATMs, albeit they are a far less popular target for assailants. Automated teller machines are far from secure devices, as they are often targeted by hackers and other criminals But in some countries, things get taken to the very next level. Several gang members in Scotland have been blowing up bank ATMs in Aberdeenshire. As a result, over 130,000 GBP was stolen. Luckily, all of these gang members have been arrested and face long prison sentences. Three individuals are responsible for these attacks against bank ATMs spread out all over....
Heather Morgan, who goes by the rap name “Razzlekhan,” is a self-proclaimed serial entrepreneur and prolific writer — and she's been charged with money laundering and conspiracy in relation to the 2016 Bitfinex hack. New York resident Heather Morgan, 31, claims to be many things: “a serial entrepreneur, prolific writer, irreverent comedic rapper, and investor in B2B software companies with high growth potential.”But her LinkedIn bio doesn’t mention anything about her alleged capability to help launder hacked cryptocurrency.Yesterday morning, FBI agents arrested Morgan — or was it her....
Bitcash.cz - a Czech exchange - claims to have been hacked, with the aftermath being 4,000 user wallets being emptied and funds stolen. teh alleged hacking took place on Monday, on November 11th, though it's unknown just how much of user money was stolen by the criminals involves. The website's Facebook page has the following statement: Unfortunately, as we have already announced on our website Bitcash.cz, our server was attacked and compromised - including the wallets. We are trying to resolve the situation, but we want to warn our users about fraudulent emails and scams [claiming to be....