Bitcoin ATM Industry Reacts to ‘Money Mules,’ Changing Markets
Recently, EasyBit announced the installation of 6 Bitcoin ATMs in 4 states across the US. The company expressed confidence in the future success of these machines, even dismissing news that “money mules” had used Bitcoin ATMs to launder money as a service to other criminals. The money mule accusations are the latest in a long and growing list of alleged crimes that have been facilitated by Bitcoin and other digital currencies. Since the mainstream discovery of the Silk Road marketplace, mainstream media and anti-Bitcoin pundits have tried to connect Bitcoin use to drug trafficking,....
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Once the money mules purchase Bitcoin through these ATMs, they then forward the money to a specific address via a QR code. For now, it remains unsure why criminals are avoiding more common solutions such as Western Union and MoneyGram, though. Bitcoin ATMs have been relatively safe from any gang-related activity so far. That situation has come to change, as fraudsters are using these devices to launder money, according to KrebsOnSecurity. By hacking bank accounts, they deposit funds into money mules’ accounts. These mules then withdraw funds in cash and remit the stolen funds through one....
Hackers who raid corporate bank accounts often launder stolen funds by depositing them in accounts owned by “money mules,” people recruited through work-at-home job scams. The mules are usually instructed to wire the stolen funds to the scammers. Increasingly, however, the mules are being directed to send the funds using bitcoin ATMs, according to KrebsOnSecurity. The story of a Canadian reader who contacted KrebsOnSecurity demonstrates how such scams work. One ‘Mule’s’ Experience. The reader was offered $870 per week and 5% commission for every transaction she handled for a company called....
The price of bitcoin has just hit a historic milestone in a turbulent year, crossing the $20,000 threshold, refreshing its all-time high, and well-known crypto advocates such as Edward Snowden have been reacting to the news on social media. Snowden Reacts to Bitcoin All-Time Highs The famous American whistleblower published a brief but widely discussed statement among his followers on bitcoin: One word: bitcoin The tweet just came days after he also remembered his call on a BTC price comment he made back on March 13, 2020: This is the first time in a while I’ve felt like buying....
Ladies and gentlemen, we live in a Taproot world. The update will enhance Bitcoin’s performance and enable smart contract deployment. Starting today, all transactions in the Bitcoin network look alike, improving privacy. It doesn’t even matter how the market reacts. It’s a great day for Bitcoin and the community is celebrating it as such, sharing […]
Nonfungible tokens may be an option for maximizing monetization and exposure for a tattoo artists' work. Tattoos have been a universal phenomenon throughout the world for thousands of years, transcending cultural transformations and technological shifts. As the art continues to evolve, it has now taken steps into the nonfungible token (NFT) space in a bid to maintain relevant in an increasingly digital world. Known as Bang Bang in the tattoo industry, Keith McCurdy is one of the artists who hopes to merge the ethos of tattoo culture with disruptive technologies. He's using a new type of....