USDT and Bitcoin Under Scrutiny as DOJ Shuts Down 145 BidenCash Sites in Global Crypto-Crime Crackdown

In a significant move against cybercrime, the U.S. Department of Justice (DOJ) has successfully dismantled BidenCash, a notorious dark web marketplace that operated since March 2022. The platform facilitated the sale of stolen financial data using cryptocurrencies such as Bitcoin (BTC) and Tether (USDT). This operation, conducted in collaboration with international authorities, resulted in the seizure of 145 domains and associated crypto funds. The crackdown marks another milestone in the global effort to combat cybercrime, following previous successes like Operation RapTo. The DOJ's actions highlight the increasing scrutiny on cryptocurrencies used for illicit activities, particularly stablecoins like USDT, which have been under regulatory focus due to their role in money laundering and fraud. Despite these challenges, the broader cryptocurrency market continues to demonstrate resilience, with many viewing such enforcement actions as necessary steps toward legitimizing the industry. As of June 2025, the crypto community remains optimistic about the long-term prospects of digital assets, emphasizing the importance of compliance and transparency to foster mainstream adoption.

DOJ Shuts Down 145 BidenCash Sites in Major Crypto-Crime Crackdown

The U.S. Department of Justice has dismantled BidenCash, a dark web marketplace operating since March 2022 that facilitated the sale of stolen financial data using cryptocurrencies like Bitcoin (BTC) and Tether (USDT). In a coordinated international operation, authorities seized 145 domains and associated crypto funds, marking another victory in the global fight against cybercrime following similar efforts like Operation RapTor.

BidenCash specialized in trafficking compromised credit card details, login credentials, and personally identifiable information. Despite its politically suggestive name, the platform had no actual ties to government figures—it served purely as an illicit marketplace where anonymity tools and cryptocurrency payments enabled criminal transactions.

This enforcement action underscores growing regulatory scrutiny of crypto's role in financial crimes. The Eastern District of Virginia led the operation, demonstrating continued interagency collaboration to target blockchain-facilitated illegal activities.

U.S. Moves to Seize $7.74M in Crypto Linked to North Korean IT Workers

The U.S. Department of Justice has initiated civil forfeiture proceedings against $7.74 million in cryptocurrency allegedly tied to North Korean IT workers. The funds, originally linked to Sim Hyon Sop of North Korea's Foreign Trade Bank, were frozen after an FBI investigation uncovered a scheme involving fraudulent remote work contracts.

North Korean operatives reportedly infiltrated U.S. companies using stolen American identities, receiving payments primarily in stablecoins like USDC and USDT. The DOJ describes this as part of Pyongyang's broader strategy to circumvent sanctions and fund weapons programs through crypto-enabled financial channels.

The complaint reveals sophisticated obfuscation techniques, including layered transactions through multiple wallets and exchanges. This case marks one of the largest crypto seizures connected to North Korea's sanctions-evasion efforts since the 2022 Lazarus Group revelations.

Crypto Market Dips 4.1% Amid Volatility, Bitcoin Holds Above $103K

The cryptocurrency market cap fell 4.1% to $3.33 trillion as volatility persists, though bitcoin demonstrates resilience by maintaining support above $103,000 after retreating from its $111,800 all-time high. Profit-taking by long-term holders appears to be limiting upside momentum, while speculative interest surges in small-cap tokens like KILL BIG BEAUTIFUL and VICE.

Institutional demand remains a key driver, with analysts projecting Bitcoin could reach $115,000 by early July if ETF inflows continue. Market participants await the U.S. jobs report for directional cues, with the $95,000-$97,000 zone viewed as critical support for BTC.

Ethereum underperformed, dropping 5.8% to $2,455, while Litecoin saw modest gains. Stablecoins Tether and USD Coin held their $1 pegs. The market's bifurcation continues as speculative capital floods micro-cap projects while major assets consolidate.