News list for " India"
Indian man Anurag Pramod Murarka has been sentenced to 121 months in prison by a US court for running a global money laundering network that laundered more than $20 million in proceeds of crime. It is reported that Murarka provided money laundering services on the dark web market under aliases such as "elonmuskwhm" and "la2nyc" between April 2021 and September 2023. He instructed customers to send cryptocurrencies to specific wallets through encrypted communications, and then transferred the fun...
On January 13, the Indian cryptocurrency exchange Mudrex has suspended withdrawals, triggering a backlash from the community. The exchange said that this is a temporary move, which will last until January 28, to upgrade the platform's compliance framework and prevent abuse by bad actors. One community member, Aakash Athawasya, expressed skepticism about the intent of the trading platform, arguing that Mudrex had "never made a cryptocurrency withdrawal from the beginning" and that...
The PMLA Special Court for Anti-Money Laundering in India has rejected the release request of Hemant Bhope and his wife Lata, who are said to be charged in connection with one of India's largest Bitcoin Ponzi schemes involving a Delhi-based firm, Variabletech Pvt Ltd (VTPL), in which the defendants conspired to entice investors to buy Bitcoin and encourage others to invest in the company to commit fraud, which is said to be worth up to Rs 66.06 billion.
The first high-level meeting between the Chinese Coast Guard and the Indonesian Coast Guard was held in Beijing.
Three Indian refining industry sources have said that Indian refiners are bracing for new U.S. sanctions against Russia and are expected to face major Russian oil supply disruptions.
Indian cryptocurrency exchange WazirX, which suffered a $235 million cyberattack in July 2024, has announced a restructuring plan aimed at compensating affected users. WazirX's parent company, Zettai, filed an application to the Singapore High Court in August 2024 for a debt standstill and offered to restructure under the Singapore Arrangement Scheme. As of December 2024, WazirX reported a current asset of $566.38 million, exceeding the total claim amount of $546.47 million USDT submitted by use...
According to sources, India's gold imports fell sharply by $5 billion in November, the largest decrease.
Indian cryptocurrency exchange CoinSwitch has announced the launch of a $69.90 million WazirX hack recovery fund, "CoinSwitch Cares", aimed at helping WazirX users who lost money due to a cyber attack in July 2024. As part of the scheme, CoinSwitch will distribute funds to impaired users over two years to boost the crypto ecosystem in India. According to official data from CoinSwitch Cares, any user affected by the WazirX security bugs can apply for funding through the scheme.
India is teaming up with tech giants Google and Facebook to step up efforts against "romance scams" that use cryptocurrencies for investment fraud. The scams mainly target disadvantaged groups such as unemployed youth, housewives, students and financially disadvantaged individuals, according to the Indian Home Ministry's 2024 annual report. The report highlights the global nature of the problem, which also involves large-scale money laundering and cyber slavery. Cyber scammers often abuse Google...
Gold Ten Futures, January 3, according to foreign media reports, traders said that India's December sunflower oil imports decreased by 22% to 265,000 tons, soybean oil imports increased by 3% to 420,000 tons, the highest level in four months; palm oil imports decreased by 40% to 503,000 tons, the lowest level in nine months. India's December vegetable oil imports decreased by 25% to 1.19 million tons, the lowest level in three months.
On December 19, the Indian crypto exchange WazirX released an "update on illiquid wallet assets and stolen assets" on the X platform. WazirX wrote: "Recovery of illiquid wallet assets and stolen assets remains a top priority, and the team is actively exploring all possible avenues. For stolen assets, Kroll has been hired to lead forensic assessments, strengthen platform security, and plan recovery strategies, including: ① In law enforcement...
On December 13, Indian crypto trading platform WazirX tweeted that it is in the process of asset rebalancing. During this process, users may notice the flow of funds between cold wallets. The official said that the temporary consolidation of assets is a necessary step for the final distribution to ensure the safety of cold wallets. Once the rebalancing and wallet management work is completed, a complete list of all cold wallets and their respective holdings will be shared.
Bitcoin Magazine posted on social media that Indian-listed company Jetking Infotrain has adopted a bitcoin financial strategy.
According to Bloomberg, India has reached agreements with neighboring Sri Lanka, Bhutan, and Nepal, and plans to include the United Arab Emirates in its cross-border settlement program. India is also exploring the use of a central bank digital currency (CBDC) as the primary settlement mechanism for its cross-border transfer solution.
Indian billionaire Gautam Adani and his nephew Sagar Adani have been subpoenaed by the Securities Exchange Commission (SEC) to explain allegations that they paid more than $250 million in bribes to win contracts for solar power generation. The subpoenas have been served on the Adani family's residence in the western Indian city of Ahmedabad, requiring them to respond within 21 days, the Press Trust of India (PTI) reported. PTI cited a notice sent through the Eastern District Court of New York on...
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