Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6818977425863573504
How #Bitcoin #Crypto Enable #Global #Cyber #Ransomware #Crimes: Bloomberg LP: #Crypto #Scams, Rug Pulls, #Bitcoin #Hacks: ‘A decade after Bitcoin was created, #regulators are still grappling with how to police #cryptocurrencies when the whole point is that they operate without #governments or central banks. As more #institutions and ordinary investors dip their toes into crypto, new #scams are bound to emerge. The bad guys often cover their tracks by blending identifiable cryptocurrencies with anonymous ones, an old money-laundering maneuver known as “mixing” or “blending.” They engage in “peel chains,” which involve skimming a little crypto here, a little there, and routing it to different digital wallets on different exchanges.’
The Wall Street Journal: #Bitcoin: #Bitcoin “Enables” #Ransomware & #MoneyLaundering Crimes: The Preferred Instrument of Global Cyber-Criminals: ‘Just as the taxman forces you to use dollars to pay your taxes, #electronic #ransom demands have been set in bitcoin, forcing companies, individuals and even some governments to use the #cryptocurrency if they wish to regain control of their computer systems… Only when its #anonymity and international nature help enough to offset these disadvantages, such as in #evading #moneylaundering laws, #taxes and #capital #controls, is it much used. The rest of #bitcoin #trading is #speculation and #exchange #arbitrage.’
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Global Risk Management Network LLC: Silicon Valley-Wall Street-Pentagon-Worldwide Digital Pioneer
