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Tag Archives: chainalysis

Russia Supposedly Isn’t Turning to Crypto After All

For the past month or so, many regulators and members of the U.S. government have expressed concern that Vladimir Putin and Russia may be trying to use crypto to avoid recent sanctions. However, at the time of writing, there is no evidence to suggest this is happening. Russia May Not Have Strong Access to Crypto This sentiment comes from Jonathan Levin – co-founder and chief strategy officer at Chainalysis, a blockchain analysis firm – and a panel of alleged experts, who...

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BBB: Crypto Scams Are Now the Second Deadliest In the World

According to a new report issued by the Better Business Bureau (BBB), scams involving crypto are now the second most prominent and risky. The BBB Publishes Crypto Scam Report In the year 2020, crypto scams were still relatively thin. While they occurred on a regular basis, they only placed seventh on the BBB list. However, in 2020, crypto scams moved into second place, suggesting that they now occur much more often than anyone could have anticipated. While crypto scams...

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Chainalysis: Russia Has Stolen A Lotta Crypto

Blockchain analysis firm Chainalysis has published a new report suggesting that cybercriminals stationed in Russia have made off with approximately $400 million in stolen digital currency funds. Cybercrime in Russia Is Booming Chainalysis says that much of this money was garnered through extortion and ransomware attacks. The news plays on the idea that crypto crime has grown heavily in recent years, with the blockchain firm stating in recent documents that billions of...

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Qubit Finance Crypto Platform Hacked; A Lot of Money Is Gone

It’s happened again, folks. Another crypto hack is in the books and a lot of money has been stolen. This time, the victim is a digital currency platform known as Qubit Finance, a defi trading arena. The company is reporting losses of approximately $80 million at the time of writing. Qubit Finance Has Lost Quite a Bit of Money As we have seen from recent reports, crypto crime is growing like crazy, and it makes sense when one looks at how well some of the leading digital...

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The FBI Says Crypto Scams Are Up

Experts at the Portland division of the Federal Bureau of Investigation (FBI) are telling people what they can do to avoid cryptocurrency scams, which have seemingly become much more prominent and aggressive over the past few years. The FBI Says Crypto Scams Are On the Rise It seems like crypto-based crime has become a serious issue given that the prices of many leading digital currencies such as bitcoin have surged in recent years. Just two months ago, the world’s...

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Chainalysis: Crypto Money Laundering Is Still a Big Deal

According to a new document published by blockchain analysis firm Chainalysis, nearly $9 billion in crypto funds were laundered last year by cybercriminals. Overall, as much as $8.6 billion was placed in illegitimate projects and companies or washed to appear legitimate. Chainalysis Says Nearly $9 Billion Was Laundered The good news is that while this number is about 30 percent larger than the number witnessed in the year 2020, it is considerably smaller than the $10.9...

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Chainalysis: North Korea Stole a Lotta Crypto Last Year

A new report from blockchain analysis firm Chainalysis suggests that in the year 2021, North Korea stole as much as $400 million worth of cryptocurrency. As many as seven separate attacks were launched as a means of gaining access to the money. North Korea Is Rich from Stealing Crypto Among the methods used to engage in thievery were “phishing lures, code exploits, malware, and advanced social engineering to siphon funds” out of organizations’ hot wallets and addresses,...

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Studie: Bitcoin Betrüger haben Hochkonkunkutur

Kryptowährungen, allen voran der Bitcoin, haben Hochkonjunktur. Sie sind in aller Munde und jeder, der sich nur ein bisschen mit Investitionen beschäftigt, stösst auf irgend ein Inserat, Google Ad oder Nachricht auf Social Media. Durch die hohen Gewinne und Kurssteigerungen der letzten Jahre, will niemand die Chance verpassen, an diesem Hype teilzuhaben. Viele haben jedoch wenig Ahnung vom Kryptomarkt und der Funktionsweise der verschiedenen...

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Jaqueall Jackson Becomes Victim of Crypto Scam

A man in Fayetteville, North Carolina claims to have lost his entire life savings to a cryptocurrency scam. Jaqueall Jackson had as much as $15,000 in crypto saved up but lost it all through a scam investment opportunity he learned about through Facebook. How Jaqueall Jackson Lost All His Crypto In an interview, he stated: That was my entire savings right there. I lost $15,000… I constantly kept getting messages that were getting sent down by people saying the success of...

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Chainalysis: Crypto Crime Has Grown to Unprecedented Levels

The crypto space saw unprecedented growth last year, and unfortunately, this led to a heavy surge in crypto-related crime. According to a new study conducted by blockchain analysis firm Chainalysis, illicit activity in the crypto space saw approximately $14 billion in crypto go to scam or fraudulent addresses. Chainalysis: The Amount of Crime Nearly Doubled in 2021 Compare this number with the $7.8 billion that was stolen in the year 2020. From one year to the next, the...

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