Thursday, July 05, 2018

Crypto Thefts Triple, Driving Growth in Coin Money-Laundering -- Bloomberg

Maybe something like a government-based central authority would help...
"Crypto coins number more than 1,600, and tracking them all is increasingly difficult -- which gives criminals an opening. Regulators have said that many exchanges and startups issuing new coins still don’t do enough to check customer identities and verify that users aren’t laundering stolen funds. Users buying and selling coins are typically represented by anonymous addresses.

Meanwhile, many exchanges -- and new ones are opening all the time -- have security vulnerabilities. And cryptocurrencies, once stolen, often can’t be returned or even traced to the thieves.

“It’s a lot easier than robbing banks,” Jevans said."
Crypto Thefts Triple, Driving Growth in Coin Money-Laundering -- Bloomberg
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