Author: Lara

More Than $500 Million in Crypto Was Laundered Using Tornado Cash in 2024

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More than $550 million worth of stolen cryptocurrency was laundered through Tornado Cash in 2024, according to a new report from Global Ledger. The cryptocurrency mixing service, which has been under scrutiny for its role in facilitating illicit transactions, received a total of 457,768 ETH—valued at approximately $1.64 billion at current market prices—between January 1 and November 27, 2024. The report highlights that over 60% of the ETH deposits to Tornado Cash came from high-risk sources, including accounts linked to significant crypto hacks. A substantial portion—more than 56%—of the funds processed through the service originated from hacking incidents that took…

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Bitcoin Buyout: Metaplanet Shares Surge 16%

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Metaplanet has significantly ramped up its Bitcoin investments, doubling its holdings to over 450 Bitcoin this month alone. The Japanese investment firm’s stock jumped 15.7% on October 15 following its announcement of a recent purchase of nearly 107 Bitcoin. With this latest acquisition, Metaplanet now holds a total of 855.5 Bitcoin, valued at over $56.1 million, as stated in their October 15 release. The firm invested approximately $6.7 million (1 billion yen) for 106.976 BTC, securing the coins at around $62,520 each—5.8% below Bitcoin’s market price of $66,200 at the time. Before the Tokyo Stock Exchange’s lunch break at 11:30…

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Taiwan’s FSC Announces Pilot Program for Institutional Crypto Custody Services

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Taiwan’s Financial Supervisory Commission (FSC) is set to initiate a trial for crypto custody services through local banks, as reported by the Central News Agency on October 8. The FSC aims to begin accepting applications for this pilot program in the first quarter of 2025. So far, three private banks have shown interest in participating in the trial. Clarification on Managed Cryptos Required Participating financial institutions will need to specify the types of digital assets they intend to manage, which may include popular cryptocurrencies such as Bitcoin, Ether, and Dogecoin. Additionally, banks must define their target client base, which could…

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