June 2026
Money Laundering · North Korea
How Lazarus Laundered $1.2B Post-Bybit: Eight Months, Six Chains
The methodical conversion of stolen USDC and ETH into untraceable Bitcoin across six blockchain networks, in the most sophisticated laundering operation ever documented on-chain.
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June 2026
Regulation · EU / MiCA
MiCA Licences Are Live. Here Is What CASPs Are Actually Required to Do.
Major exchanges and custodians have secured their MiCA CASP authorisation. What the licence demands, what ongoing obligations look like, and the one compliance obligation most firms are not yet operationally ready for.
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May 2026
Litigation · North Korea
North Korea Terror Victims Escalate Fight to Seize $71M from Aave
American victims of North Korean state terrorism pursue a novel legal theory: if Lazarus funds sit in a DeFi protocol, can a federal court order their seizure?
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May 2026
DAO Governance · Legal
The DAO Voted. The Court Said Otherwise. Who Actually Owns $7B?
When a protocol governance vote and a US federal court order point in opposite directions, which one controls $7 billion in digital assets?
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April 2026
DeFi · Smart Contract Security
KelpDAO $292M: The Forged Bridge Message That Became a $13B Crisis
A single malicious cross-chain message drained $292 million and exposed $13 billion in systemic risk. Every on-chain monitor watched it happen.
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March 2026
Sanctions · Russia
Garantex Dies. Grinex Is Born. Why Sanctions Against Infrastructure Fail.
Within weeks of OFAC sanctioning Garantex, its operators relaunched under a new name. The pattern reveals a structural weakness in how crypto sanctions are designed.
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February 2026
Enforcement · North Korea
The $1.46 Billion Theft That Happened in Plain Sight
How Lazarus Group executed the largest crypto heist in history while every on-chain monitor watched the transaction confirm, and why pre-mempool enforcement would have stopped it.
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February 2026
Regulation · EU / US / FATF
MiCA, FATF Travel Rule, and the GENIUS Act: Three Frameworks, One Requirement
Three regulatory frameworks converging on the same conclusion: compliance must happen before the transaction settles, not after.
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January 2026
Case Law · Sanctions
The State vs. Code: Tornado Cash, Roman Storm, and the Limits of Sanctions Law
Roman Storm's prosecution raises a question that will define blockchain regulation for a decade: can open-source software be sanctioned?
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January 2026
Fraud · Exchange Collapse
FTX: The $8B Hole, the Alameda Backdoor, and Why the Blockchain Saw Everything
The on-chain evidence that documented the FTX collapse in real time was available to anyone watching. The question is why nobody acted on it.
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