Philippines Charged Two Former Consultants For Coins.ph In Move To Crackdown On Crypto Crime

Quick Summary:

The Philippines’ Department of Justice (DOJ) charged two former consultants for Coins.ph, a well-known crypto currency exchange, in an action shocking the Philippine bitcoin community.  Russian nationals Vladimir Evgenevich Avdeev and Sergey Yaschuck are accused of launching a carefully thought out hack that led to the loss of an astounding 12.

The DOJ claims that this complex laundering operation was an attempt to hide the source and destination of the pilfers, therefore complicating the digital trail tracking process.

Authorities assert that the accused quickly moved the stolen XRP across a number of unnamed bitcoin exchanges following a successful attack on Coins.ph’s defenses.

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Article Details

Author / Journalist: Sofiya

Category: Crypto

Markets: IndiaPhilippines

Topics: Former Consultants Crackdown News Coins.ph Two Latest News Charged Crypto crime

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-12 @ 19:46:18 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 434 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 21592451

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