PANews reported on August 31st that, according to Decrypt, Dutch and US law enforcement authorities have shut down VerifTools, an online fake ID marketplace that sold forged documents for as little as $9 in cryptocurrency. The operation resulted in the seizure of 23 servers. The FBI determined that the marketplace generated approximately $6.4 million in revenue. Dutch authorities estimate Veriftools' annual turnover to be approximately €1.3 million (approximately $1.5 million), making it one of the world's largest providers of fake IDs. The marketplace worked by requiring users to upload a passport photo and enter false data, which the website operators then used to generate fake IDs. FBI agents were able to order fake New Mexico driver’s licenses and pay for the forged IDs using cryptocurrency, though the specific cryptocurrency used has yet to be determined.PANews reported on August 31st that, according to Decrypt, Dutch and US law enforcement authorities have shut down VerifTools, an online fake ID marketplace that sold forged documents for as little as $9 in cryptocurrency. The operation resulted in the seizure of 23 servers. The FBI determined that the marketplace generated approximately $6.4 million in revenue. Dutch authorities estimate Veriftools' annual turnover to be approximately €1.3 million (approximately $1.5 million), making it one of the world's largest providers of fake IDs. The marketplace worked by requiring users to upload a passport photo and enter false data, which the website operators then used to generate fake IDs. FBI agents were able to order fake New Mexico driver’s licenses and pay for the forged IDs using cryptocurrency, though the specific cryptocurrency used has yet to be determined.

                                                                               Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday.                     The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.  “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more