Business Advisory Firm Expects Criminal Cryptocurrency Transactions to Fall b...
Gartner, an advisory firm, has predicted that criminal cryptocurrency transactions or transfers will fall by 30% by 2024. The firm says factors such as the transparency of the blockchain, as well as the democratization of fraud prevention tools, will contribute to this decline in such transactions. Blockchain Transparency Despite the surge in the value of crypto-related crimes recorded in the past year, Gartner, a business advisory firm, predicts that “successful cryptocurrency thefts and ransomware payments will drop by 30%” in two years’ time. According to Gartner,....
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Cryptocurrency intelligence firm Ciphertrace has filed two patent applications for tools and systems to trace monero transactions. The company aims to enable the detection of criminal uses of privacy coins like monero. Monero Tracing Patents Blockchain analytics and cryptocurrency intelligence firm Ciphertrace announced Friday that it has filed two monero tracing patents. One patent is called “Techniques and Probabilistic Methods for Tracing Monero” and the other is “Systems and Methods for Investigating Monero.” They two patents cover a number of areas, including....
Despite the “bitcoin is for criminals” narrative, the proportion of criminal cryptocurrency transactions was less than 1 percent in 2020. The post Stop The Bitcoin FUD: Criminal Cryptocurrency Transactions Are Falling appeared first on Bitcoin Magazine.
The new US Treasury Secretary Janet Yellen’s recent negative comments about Bitcoin and crypto have revolved around alleged “illicit use.” However, data from a top blockchain analysis firm claims that under 1% of all cryptocurrency transactions are related to criminal activity. Here’s why the former Federal Reserve Chair’s assumptions about the digital asset class are way off base. Under 1% of Crypto Transactions Are Tied To Illicit Use Bitcoin is an asset and currency unlike anything […]
City A. M., London's first free daily business newspaper, reports that a study by researchers at the University of Manchester and the University of Montreal concluded that Silk Road prevented violence associated with the illegal drug trade and represented a breakthrough in criminal innovation. The study is open access and can be downloaded from the Social Science Research Network. The researchers found that many (between 31% and 45%) drug-related transactions on Silk Road were not business-to-consumer (B2C) but business-to-business (B2B), in other words, transactions between drug dealers.....
The Internal Revenue Service (IRS) has revealed that $3.5 billion in crypto was seized during the fiscal year 2021. This represents 93% of all funds seized by its criminal investigation unit during the same time period. The agency expects to seize billions of dollars more in cryptocurrency next year.
IRS Says It Could Seize Even More Than $3.5 Billion in Cryptocurrency Next Year
The Internal Revenue Service’s Criminal Investigation (CI) unit, the tas authority’s law enforcement branch, released the 2021 Criminal Investigation Annual Report Thursday. IRS....