Cryptocurrency has a lot to offer the cybercriminal. The blockchain has proven to be the perfect covert rendezvous, providing complete anonymity, borderless trade from anywhere on Earth, and the secure use of public and private keys. All of these factors make attempts at tracing criminal dealings― from illicit substances and weapons to fake credentials and even the services of contract killers―a wild goose chase. The crypto-boom has had the U.S., the EU, and international agencies concerned, and often baffled, at what the revolutionary technology is permitting mischievous actors to get away with. Silk Road, the first Darknet marketplace known for high volume drug sales, was shut down in 2013 after over $1 billion was made primarily through Bitcoin transactions. Criminal activities using cryptocurrency haven’t just been for mutual dealings, either. Countries such as China and Mexico are beginning to impose regulations in light of rising ransomware attacks, exit scams, and fraudulent firms built on Ponzi scheme structures, including BitConnect, which collapsed this spring. While crypto is proving to be the bane of existence to government oversight and law enforcement worldwide, one thing is for sure. It isn’t going away anytime soon. Learn more about the with the infographic below, provided by NullTX. dark side of crypto

Bitcoin

Founder & President of NowSourcing, a leading infographic design agency

Founder @ NowSourcing. Contributor @ Hackernoon, Advisor @GoogleSmallBiz, Podcaster, infographics

2021 - HackerNoon Contributor of the Year - STORYTELLING

2022 - HackerNoon Contributor of the Year - Business

2022 - HackerNoon Contributor of the Year - Education

2022 - HackerNoon Contributor of the Year - Finance

2022 - HackerNoon Contributor of the Year - Health

2022 - HackerNoon Contributor of the Year - Healthcare

2022 - HackerNoon Contributor of the Year - Healthtech

2022 - HackerNoon Contributor of the Year - Law

Founder & President of NowSourcing, a leading content marketing agency

Nominated for 2022 - HackerNoon Contributor of the Year - Healthcare

Nominated for 2022 - HackerNoon Contributor of the Year - Finance

Nominated for 2022 - HackerNoon Contributor of the Year - Law

Nominated for 2022 - HackerNoon Contributor of the Year - Business

Nominated for 2022 - HackerNoon Contributor of the Year - Health

Nominated for 2022 - HackerNoon Contributor of the Year - Healthtech

Nominated for 2022 - HackerNoon Contributor of the Year - Education

Too Long; Didn't Read

A Look at the Dark Side of Crypto

A Look at the Dark Side of Crypto

Too Long; Didn't Read

Coin Mentioned

@brianwallace

RELATED STORIES