 The U.S. Secret Service is investigating illicit cryptocurrency transactions and tracking down fraudulent accounts. The federal agency, best known for protecting the president, has seized over $102M in cryptocurrency. More: - Bitcoin and other cryptocurrency-related transactions are being monitored on the blockchain on a regular basis.
- David Smith, director of investigations, explains how the transactions are tracked on the blockchain "And once a person and another person make a transaction, and that gets into the blockchain, we have the ability to follow that email address or wallet address, if you will, and trace it through the blockchain."
- The agency also tracks financial and cybercrime.
- Since 2015, the agency has seized more than $102M in crypto assets involving 254 cases.
- The Romanian National Police also identified 900 victims across the U.S. that were targeted in these elaborate scams.
- Cryptocurrency moves money at a faster rate than traditional methods, which has made it an attractive tool for the average person and also criminals.
- Theives are leveraging stolen bitcoins and then converting them into stablecoins.
CNBC 
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 Iran is announcing strict penalties for illegal cryptocurrency mining. Fines will increase by three to five times, and penalties for violations include prison and business license revocations for those participating in illegal mining. More: - The government approved crypto mining in 2019, and Iran's Ministry of Industry, Mine, and Trade issued over 1,000 licenses for legal crypto mining.
- The issue is that unauthorized miners are using household electricity to mine crypto.
- In September, authorities shut down over 6,000 illegal mining activities across the nation.
- By December, they had to halt crypto operations during the winter months to preserve power.
- Under the new rule, subsidized electricity intended for households, industrial, agricultural, and commercial use is strictly off-limits.
Bitcoin
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 A message from PASSBASE It’s inevitable: regulation will continue to tighten in crypto. In 2021 DeFi users lost more than $12 billion due to theft and fraud, and with mass adoption comes increased scrutiny. The companies that cement their roles as leaders are those that will be able to meet evolving AML and KYC requirements around the world. That’s why we were excited to read the latest e-book from Passbase that helps companies keep up with compliance and find new benefits through identity verification across the customer lifecycle. Their free Crypto KYC Playbook covers: - Keeping up with the crypto regulatory landscape
- How to use identity verification to secure growth
- Templates for Crypto KYC (+ case studies)
Claim your playbook
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Atari Token dropped more than 30% in 24 hours and is down 98.4% from its highest peak as the gaming platform is distancing itself from cryptocurrency and ended its licensing agreement with ICICB Group. Atari, the well-known gaming company, announced on its website that "ICICB is not authorized to represent Atari or its brands in any manner." More: - The partnership was established to launch the ATRI token and the Atari Chain.
- The token was designed for the entertainment industry and decentralized exchange and allowed users to swap ATRI, ETH, and FTM tokens.
- After the contract cancellation, Atari said that any ICICB Group whitepapers and social media channels associated with the token are unsanctioned.
U Today
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Hedge, a Solana-based blockchain, is projected to raise $3.7M in a seed round led by Race Capital with participation from Pantera Capital, Solana Ventures, ShimaCapital, and DCM. More: - The startup is building a DeFi platform that enables interest-free loans in its USH stablecoin. The company will allow users to borrow up to 90% loan-to-value ratio by depositing only 10% of the total value of the loan.
- These interest-free loans offer instant liquidity without creating a taxable event on interest payments.
- The fresh funding will be used to hire new staff and help upgrade the Solana ecosystem. Sebastian Grubb, CEO of Hedge, writes: "With Hedge, we’re really trying to upgrade the whole Solana ecosystem. We want to help users unlock more liquidity and better leverage their assets without having to exit their positions."
- The company is planning to launch on Solana eclipses for a total of $6.7B in total locked value something this year.
Decrypt
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Robinhood acquired Ziglu, a U.K.-based crypto-asset firm, subject to regulatory approvals. The motive behind the acquisition is to expand into international markets and integrate new solutions. More: - The goal is to integrate Ziglu fully into Robinhood in the future and expand beyond the U.K. and into Europe.
- Ziglu offers a digital platform for crypto customers to buy and sell 11 cryptocurrencies and yield rewards, and pay with their debit card.
- The acquisition will also help Rohinhood enter the European market as the company is pushing development and expansion efforts.
- This month, Robinhood launched a digital wallet for 2 million users and plans to integrate with Lightning Network.
NOTE: Inside.com's founder and CEO, Jason Calacanis, is an investor in Robinhood. Coin Telegraph
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 The NBA is launching NBAxNFT, dubbed "the official Web3 home for the NBA," to introduce basketball-themed NFTs, gaming, metaverse, and Web3 projects. More: - The basketball league tweeted: "If you’re new here, we’re excited to use this space to share all things NBA basketball and Web3. Looking forward to engaging with our community and partners like NBA Top Shot."
- NBA Top Shot has generated over 16 million sales amounting to $885.6M since the adoption of NFTs.
- The Discord channel already has over 35,000 community members.
- There is no indication whether Dapper Labs or the Flow Blockchain will participate in the new initiative, but there are some hints on the company's Discord channel that point to the Ethereum blockchain.
Bitcoin.com
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 |  | Gia Mattu is based in Calgary, Alberta. She is an entrepreneur with experience in climate technology, drones, AI, machine learning, and blockchain technology. When she's not working, she loves to hike the Canadian Rockies, try new cuisine, and travel. | | | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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