Criminal Use of Bitcoin Proves its Free Market Worth
In 1988 the New York Times reported that an advanced technological threat was facing schools across the United States. What was this existential threat? Beepers (i.e., electronic pagers). School officials were dismayed by students’ use of beepers because, at the time, they were primarily used by drug dealers. One official stated, “I can think of no....
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The report defines criminal whales as private wallets that hold more than $1 million worth of crypto with more than 10% of their balances coming from illicit addresses. Chainalysis data shows that 4068 criminal whales (roughly 4% of all whales) are hodling more than $25 billion worth of cryptocurrency between them. The blockchain analytics firm defines criminal whales as any private wallet that holds more than $1 million worth of crypto with over 10% of the funds received from illicit addresses tied to activity such as scams, fraud and malware. The data is from the “Criminal Balances”....
The United States Internal Revenue Service (IRS) on Thursday published its annual Criminal Investigation (CI) report. During the fiscal year of 2021, the agency reported that it seized $3.5 billion worth of crypto. According to the latest criminal investigation report, this figure accounted for 93% of all the assets that the tax enforcement seized that year. The […]
AsNAS systems are being targeted, criminals seem to prefer to exploit the Seagate Central Network Attached Storage. Over the past few years, there have been multiple versions of malware causing harm to computer users. But some of these tools will also attempt to mine cryptocurrency on behalf of the criminal. Several new types of crypto mining malware have been discovered recently, all of which target NAS servers. Not the most profitable way of mining cryptocurrency, but since it is entirely free for the criminal, it is worth a shot. The new report released by SophosLabs goes to show....
A 28-year-old Arkansas man is invoicing the US government, payable in bitcoin. Andrew Auernheimer of Fayetteville, Arkansas - known by his online handle 'weev', was convicted of computer fraud in 2012, although he has been set free on appeal. The invoice is a claim for compensation for an alleged case of wrongful imprisonment. In a letter, described as 'an invoice for services rendered', Auernheimer writes: "I am owed 28,296 bitcoins. I do not accept United States dollars, as it is the preferred currency of criminal organizations such as the FBI, DOJ, ATF and Federal Reserve and I do not....
Adoption by criminal enterprises is evidence of the product/market fit for censorship-resistant tech and an indicator of whether innovation will see usage in the non-criminal world.