Tag Archives: #Bitcoin

dWallet Network increases Monad with Multi Chain DeFi Support

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Blockchain service provider dWallet Network has declared its step to help Layer 1 blockchain Monad enabling multi chain transfers

The collaboration will permit Monad ecosystem developers to use dWallet non collusive and decentralized building blocks to create multi chain decentralized finance DeFi applications.

Monad is a layer 1 blockchain aiming at the rapid Ethereum Virtual Machine compatible network with promise of handling up to 10,000 transactions per second tps.

BNB chains registered maximum output is 1731 tps.

By tapping dWallet Network infrastructure of dWallets, Monald DeFi ecosystem can connect to different blockchains and access more liquidity.

Monad Labs CEO lauds dWallet’s support in advancing DeFi development.

This support from dWallet Network is testament to dedication to providing possible platform for EVM developers expressed Keone Hon co founder and CEO Monad Labs

” Our unmatched speed and performance combined with dWallets innovative multi chain capabilities not only solidify Monad position as leading blockchain for DeFi development.

By aligning with Monad we are bringing our multi chain technology to forefront of fastest and efficient EVM ecosystem. Omer Sadika said .

This integration is major step forward in our mission to facilitate a seamlessly interconnected DeFi landscape and we are excited to see revolutionary apps that will emerge from this”

Hospitality worker arrested with #2.5B Bitcoin found guilty of money laundering

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The UK police said that the arrest was the mega of its kind in nation history with sentencing date set for May.

The Southwark Crown Court was found Jian Wen of laundering money using Bitcoin for purchase multi million pound houses and jewelry.

A hospitality worker been found guilty for money laundering in UK specialized court for mega fraud cases following discovery of $2.5 billion of BTC $64,155 in her possession.

The investigation involved scrutiny of 48 electronic devices and thousands of digital files which were translated from Mandarin.

When’s change in lifestyle was what drew attention from authorities. In 2017 she went from living in flat above Chinese restaurant to renting a 6 bedroom house in North London costin $21,420 per month.

It was attempted purchase of $30 million mansion London that was red flag for authorities to investigate her.

Same year she tried to buy a series of expensive houses in London but face challenges passing money laundering checks despite her claims of earning millions from Bitcoin mining.

Stock Exchange company Nasdaq released its Global Financial Crime Report which highlights data linked to financial crime over past year and there was not mention of Bitcoin.

In 2023 around $3.1 trillion in illicit funds flowed through world financial system.

US Treasury report claim that crypto is a famous choice for money laundering but the cash continues to be preferred option.Treasury highlighted the anonymity and stability of cash as a means of payment as primary reason why it remains the preferred choice of laundering illicit proceeds.