The US DOJ has filed a civil forfeiture complaint against the developer of Qakbot malware, seeking to seize $24 million in cryptocurrency.
Semler Scientific has expanded its Bitcoin holdings to 4,264 BTC, worth around $474.4 million, as part of its Bitcoin treasury strategy.
Binance's CZ has denied allegations of Trump-linked crypto ties, calling a recent WSJ report an "attack" on the crypto industry with alleged anti-crypto bias.
The crypto world witnessed major moves today, with the DOJ cracking down on cybercrime, Semler Scientific boosting its Bitcoin stash, and Binance's CZ denying allegations of Trump-linked crypto dealings, highlighting the industry's ongoing regulatory and market dynamics.
The U.S. Department of Justice (DOJ) has filed a civil forfeiture complaint against Rustam Rafailevich Gallyamov, a Russian national accused of developing and distributing the Qakbot malware. According to a May 22 announcement, the DOJ has unsealed federal charges against Gallyamov, who allegedly used the malware in a global cybercrime scheme dating back to 2008.
Matthew Galeotti, head of the DOJ’s criminal division, stated that the agency is committed to holding cybercriminals accountable. He emphasized that authorities would continue using all available legal means to identify, prosecute, and recover illicit funds. “We will use every legal tool to identify you, charge you, forfeit your ill-gotten gains, and disrupt your criminal activity,” said Galeotti.
According to reports, Gallyamov turned Qakbot into a tool to build botnets by infecting numerous computers worldwide. The networks were eventually sold to ransomware operators, including the Prolock, Dopplepaymer, Egregor, and REvil groups. According to the DOJ, a worldwide operation in 2023 took down the Qakbot botnet and recovered more than 170 BTC and more than $4 million worth of USDT and USDC stablecoins from Gallyamov.
Despite this, Gallyamov allegedly continued criminal activity using other techniques and ransomware variants such as Black Basta and Cactus. Assistant U.S. Attorney Bill Essayli confirmed that the forfeiture action represents a broader initiative to disable cybercrime operations and return stolen assets to victims.
The Nasdaq-listed healthcare technology company Semler Scientific bought 455 additional Bitcoins, spending an average of $109,801 per Bitcoin. With the purchase, it now holds a total of 4,264 BTC worth around $474.4 million at current prices. The company’s year-to-date Bitcoin yield stands at 25.8%.
The recent acquisition was funded through Semler’s ongoing $500 million at-the-market offering program. According to its SEC filing, the company began implementing its Bitcoin treasury strategy in May 2024. As of May 22, Semler has invested a total of $390 million into BTC with an average entry price of $91,471.
Despite this bullish stance on Bitcoin, Semler’s stock fell by 6.7% to $41.89 following the announcement. The company’s market capitalization is now approximately $498 million.
Binance co-founder Changpeng “CZ” Zhao has rejected allegations from a recent Wall Street Journal article that claimed he acted as a fixer for World Liberty Financial (WLF), a crypto venture linked to the Trump family. Zhao claimed he had not hosted any political meetings or business connections, including an alleged discussion with a Pakistani official.
Zhao described the WSJ report as an "attack" on the crypto industry, accusing the publication of harboring anti-crypto bias. He clarified that he only met the official in question once during a trip to Pakistan and was not involved in any formal arrangements.
The WSJ report links Zhao to a larger group involving WLF and investors like Tron founder Justin Sun. However, Zhao says the report incorrectly represents his role. He pointed out that the report was based on false information and formed part of ongoing attacks against key crypto executives.
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