The illicit use of cryptocurrencies reached a new high of $20.1 billion last year.
Tag: cryptocurrencies
Senators Propose Sweeping Oversight in the Wake of Crypto Turmoil
Following a series of high-profile busts and failures, a bipartisan pair of senators has unveiled what would be the most comprehensive legislative proposal to regulate cryptocurrencies and other digital assets. However, it is unclear whether the bill proposed by Senators Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., will be able to pass through Congress, especially… Continue reading Senators Propose Sweeping Oversight in the Wake of Crypto Turmoil
U.S. Plans to Counter Ransomware Attacks through Crypto Tracing
The Biden administration intends to crack down on the use of cryptocurrencies in ransomware attacks through more rigorous tracing of proceeds paid to hackers behind the disabling of companies, organizations and government agencies around the world, according to people familiar with the matter. In a virtual briefing with members of Congress on Wednesday, Deputy National… Continue reading U.S. Plans to Counter Ransomware Attacks through Crypto Tracing
Cryptocurrency Scams Took in More than $4 Billion in 2019
Seo Jin-ho, a travel-agency operator in South Korea, wasn’t interested in exotic investments when a colleague first introduced him to PlusToken, a platform that traded bitcoin and other cryptocurrencies. But the colleague was persistent. “You won’t regret this,” she said, according to Mr. Seo. She visited him several times early in 2019, telling him he… Continue reading Cryptocurrency Scams Took in More than $4 Billion in 2019
Cryptocurrency Thefts, Scams Hit $1.7B in 2018: Report
Cryptocurrencies stolen from exchanges and scammed from investors surged more than 400 percent in 2018 to around $1.7 billion, according to a report from U.S.-based cyber security firm CipherTrace released on Tuesday. Of the $1.7 billion, the report, which looks at criminal activity in the digital currency market, said $950 million constituted thefts from cryptocurrency… Continue reading Cryptocurrency Thefts, Scams Hit $1.7B in 2018: Report