A federal court in Chicago has taken a groundbreaking step to combat cybercrime by using innovative technology to lock criminals out of their blockchain accounts. The court order applies to 16 individuals and international criminal organizations sanctioned by the United States Treasury Department, including the notorious Lazarus Group and Hydra Market.The Lazarus Group is a state-sponsored hacking group that was responsible for the largest virtual currency heist to date, worth almost $620 million. The court order locks all accounts belonging to the 16 criminals that contain the cryptocurrency JTC.Jurat Blockchains, the firm behind the technology deployed in the case, provides Web 3.0 legal tech and reg tech for blockchains, smart contracts and DAOs. It launched its first public blockchain, JTC, in 2022 and has additional layer one projects and dispute resolution system DApps in the pipeline.Victims who previously lost BTC can claim their JTC using the Jurat Wallet app or by filing an action to enforce their legal rights in court. The case was handled by Jon Loevy of Loevy and Loevy Attorneys at Law in Chicago. Industry estimates of cryptocurrency crimes range above $20 billion annually.
This News Article was automatically generated by Bob the Bot(AI)
This News Article was automatically generated by Bob the Bot(AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 🇰🇵 |
| Sentiment | positive |
| Relevance Score | 8 |
| People | Mike Kanovitz, Jon Loevy |
| Companies | Federal Bureau of Investigations, Jurat Blockchains, U.S. Treasury Department, Drug Enforcement Administration, Lazarus Group, Axie Infinity, Internal Revenue Service Criminal Investigation, Loevy and Loevy Attorneys at Law, Homeland Security Investigations |
| Currencies | ethereum, jtc, bitcoin |
| Securities |
