Darknet’s JokerStash Retiring After Making Over $1B Through Illicit Transactions
Crypto sleuthing firm Elliptic says one of the world's most prolific cybercriminals is going out on its own terms.
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India is quickly becoming a hotbed of Bitcoin activity. We reported last week on an Indian media broadcast, creating news and shows around the digital currency and forecasting huge Bitcoin value increases due to high demand in India. Now, a burgeoning drug syndicate that used a combination of ‘The Darknet’ and Bitcoin to grow an illegal drug trafficking operation has been discovered by authorities according to sources. Authorities have been tracking this activity for several months. India’s Narcotics Control Bureau first discovered two illicit drug vendors operating out of India, however,....
Even though retail bank fanatics and policy makers always blame the anonymity of bitcoin and claim that it is why bitcoin can be used in money laundering, the fact is that Fiat cash is the ultimate form of anonymous currency. Researchers have proven recently that the US $100 bill is the most commonly used currency for laundering the revenue of illicit activities. Professor Edgar Feige believes that the US Dollar is the preferred currency for facilitation of various clandestine transactions, and for saving illicit and untaxed profits. Various reports point to the fact that almost 50% of the....
Elliptic, a bitcoin surveillance startup based in the United Kingdom, has raised US$5 million from prominent venture capital firms and angel investors to identify illicit activity on the Bitcoin blockchain and provide actionable intelligence to financial institutions and law enforcement agencies. James Smith, one of the co-founders of Elliptic stated that the company’s software implements an artificial intelligence-based technology to explore the Bitcoin blockchain network for patterns of suspicious transactions and activity. The Elliptic platform can be used by online exchanges and law....
Bitcoin has surpassed the value of gold for the first time. In parallel, Bitcoin’s deflationary properties are becoming more relevant as the specter of inflation starts lurking again in the U.S. and the Euro area. As a result, for many, the thought of investing their retirement savings in bitcoins is starting to gain traction. Planning to Retire on....
Of all funds sent to illicit cryptocurrency addresses from Eastern Europe, scams attract the greatest amount, according to a new report. In the past year alone, crypto addresses based in the region have sent the fraudulent schemes a staggering $815 million in crypto.
Eastern Europe Leads by Volume of Illicit Crypto Transactions
Among the world’s regions with a total crypto transaction volume of at least $400 million, Eastern Europe is the only one where illicit activity exceeds 0.5% of the total value sent and received, Chainalysis notes in a preview of its 2021....