Pakistan’s Federal Investigation Agency (FIA), which investigates serious and organized crime, said it will ask Pakistan Telecommunication Authority (PTA) to block websites dealing in cryptocurrencies, according to a report by Dawn.The proposal is intended to counter fraud and possible money laundering by blocking crypto-linked websites, FIA Director-General Sanaullah Abbasi … [Read more...] about Pakistan’s Crime Agency to Ask Telecom Authority to Block Crypto Websites: Report
Crime
Crypto Crime Hit All-Time High of $14B in 2021 as Prices Climbed: Chainalysis
Scams accounted for the lion’s share of crime in 2021, rising 82% to reach $7.8 billion. According to Chainalysis’ report, nearly $3 million of that total came from rug pulls, which are an increasingly popular crypto scam where developers build legitimate-looking projects, load their pockets and then disappear. Source link … [Read more...] about Crypto Crime Hit All-Time High of $14B in 2021 as Prices Climbed: Chainalysis
Crypto DeFi crime hit $10.5 billion in 2021, research shows
Fraudulent activities have been running rampant on Decentralized Finance (DeFi) platforms, according to new research conducted by crypto analysis firm Elliptic. The losses have amounted to up to $10.5 billion, illustrating the real risks associated with DeFi—an industry that is still considered an unregulated part of cryptocurrencies. DeFi platforms make crypto transfer easier … [Read more...] about Crypto DeFi crime hit $10.5 billion in 2021, research shows
Bitcoin can’t be viewed as an untraceable ‘crime coin’ anymore
Cryptocurrency is a new technology that has entered the common discourse, setting the stage for a complete upheaval of our long-established financial systems. Of course, some skepticism is unavoidable.Crypto’s association with criminality adds to this shared sense of skepticism. There is no denying that cryptocurrency has and continues to be used for illicit activities across … [Read more...] about Bitcoin can’t be viewed as an untraceable ‘crime coin’ anymore
Banning cryptocurrencies to counter crime is a nonsensical excuse
Numerous governments are attempting to ban cryptocurrencies, with recent examples from China, India, Turkey and Nigeria. The reason for doing so is simple: The decentralized nature of cryptocurrencies poses a threat to the legacy financial system, and as the technology itself is still in its infancy, it seems to attract hackers. Even so, banning crypto will not dissuade hackers … [Read more...] about Banning cryptocurrencies to counter crime is a nonsensical excuse