US Prompts Strict Actions Against Crypto Scams

According to latest crypto developments taking place within the US, very recently the US Justice Department has imposed sanctions against two individuals holding the citizenship of Russia, followed by an arrest of two more persons within the States who were citizens of Malaysia on the allegations and charges relating to their alleged involvement in the crimes of frauds and scams in respect of crypto.

It has been reported that the strict actions have been taken against accuses who are wanted for being international hackers involved in stealing and embezzling millions of dollars in the shape of cryptocurrency.

On the day of 16th September, three of the highest functionaries of the State namely the Office of Foreign Assets Control, US Department of Homeland, and the US Department of Justice collectively announced that two Russian nationals have been found to be involved in criminal activities relating to crypto and as a consequence sanctions have been imposed upon them. It has been reported that the accused managed to use complex phishing campaigns to lure people into the fulfillment of their nefarious designs of committing a scam upon the public. The two accused reported to have embezzled US$ 16.8 million approximately from the customers of three most renowned crypto exchange firms in the years 2017-18.

It is said that the two Russian nationals namely DmitriiKarasavidi and DanilPotekhin, were co-partners for the execution of their fraudulent schemes who jointly created several fake websites claiming to be authentic crypto exchanges and managed to steal the confidential data for gaining illegal access to the trading accounts of the customers for stealing their funds as well as their identities. The stolen information and data were then handed over to other scammers by the culprits for the purposes of committing further scams upon the victims.

Steven Mnuchin, who is the current Secretary of the US Treasury, accused the culprits for administering Ponzi schemes, the aim and objective of which were to defraud innocent American citizens/investors for the purposes of depriving them of their constitutional guaranteed rights such as to do business, the security of their personal data & information and funds.

The same day, US Government also reported to have claimed that it has arrested two hackers of Malaysian origin who were involved in activities of computer hacking campaigns. The two Malaysian accused have reportedly hacked computers from the territories falling within the US jurisdiction wherein various companies, government entities, educational institutions as well as various non-profit based organizations were targeted by the culprits.

Currently, the two Malaysian nationals are facing charges which may lead to punishment such as 77 years of imprisonment. The US Government has directed the law enforcement agencies that 5 wanted criminals of the similar crimes of Chinese origin are still absconding and all necessary steps should be taken to apprehend the culprits.


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