Blockchain forensics firm Chainalysis announced on March 10 that it will partner with South Korea-based cryptocurrency exchange, Bithumb following the successful passing of new crypto-currency laws in South Korea. Bithumb will use the Chainalysis Reactor Inquisition tool to monitor skeptical activities on its platform. The main reason for Bithumb’s latest move is to keep up […]
Blockchain Crime
Bitcoin – The Jihadist’s Coin for Fundraising
The world of fintech has sunk into a love-hate relationship with bitcoin. Yet terrorists have something else, they’re completely in love with the digital currency. In other words, there’s no looking back on a system that requires confidential funding. Back in 2018, a terrorist organization named Hama urged its supporters to send them money through […]
LATAM Exposes ‘The Dark Side’ of Cryptocurrencies
To have a clear picture of the world’s worst money laundry schemes, new cybercrime frontiers, and organized crime, perhaps Latin America (LATAM) is the best specimen for you. In the midst of a major economic downturn, Latin American countries are facing the worst money laundering schemes as a result of the increase in cryptocurrencies and […]
Are Blockchain Voting Systems the Solution to Election Fraud?
Blockchain has won attention as a means to boost public trust during elections. The Indian Election Commission is considering a blockchain voting system and has partnered with the Indian Institute of Technology to develop a blockchain voting system. Mr Sunil Arora, Chief Election Commissioner, believes that blockchain will improve voter turnout as more people from […]
Bad News for Bitcoin, DoJ Busts an Enormous Money Laundry Operation
The growth and adoption of Bitcoin and other cryptocurrencies have long been subdued by the notion that they are tied to the dark web and the criminal world. This perception is basically because the crypto technology started as a payment method on darknet marketplaces. Over the years, this narrative has been gradually disappearing. However, traces […]
Blockchain Crime Syndicates – Is Crypto a Den of Thieves?
Cryptocurrencies have provided significant benefits to individuals and organizations alike. Innovators are finding even better ways to implement these new inventions. A study by Statistica estimates that there were at least 42 million blockchain wallets by September 2019. However, behind the underlying benefits of digital currencies and the blockchain, is a sinister threat of terrorists […]