tl;dr
The article discusses the increasing use of cryptocurrency in illicit activities, extending beyond traditional cybercrime to threats like national security breaches and consumer exploitation. Chainalysis warns of a professionalized on-chain illicit ecosystem, with sophisticated networks and services...
Sure, here's the -formatted article summary:
Cryptocurrency illicit activities diversify, posing threats to national security and consumer exploitation.
Chainalysis warns of increasing use of on-chain platforms for laundering by illicit actors.
Illicit cryptocurrency addresses received $40.9 billion in 2024, with AI-powered fraud and scams flourishing.
Stolen funds rose by 21% to $2.2 billion in 2024, with North Korean hackers responsible for a significant portion.
Ransomware revenues remain in the hundreds of millions, despite decreased victim willingness to pay ransoms.
The article discusses the increasing use of cryptocurrency in illicit activities, extending beyond traditional cybercrime to threats like national security breaches and consumer exploitation. Chainalysis warns of a professionalized on-chain illicit ecosystem, with sophisticated networks and services facilitating various forms of crypto crime. In 2024, illicit cryptocurrency addresses received $40.9 billion, with AI enabling personalized sextortion attacks and KYC bypasses. Stolen funds rose by 21%, with North Korean hackers responsible for $1.34 billion. Ransomware revenues remain in the hundreds of millions, despite law enforcement operations. The article also includes sponsored content and editorial pieces on cryptocurrency-related topics.
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Tags: Crypto Scams DeFi Hacks North Korea
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ABOUT THE AUTHOR CHAYANIKA DEKA MORE POSTS BY THIS AUTHOR Chayanika has been working as a financial journalist for six years. A graduate in Political Science and Journalism, her interest lies in regulatory implications with a focus on technological evolution in the crypto realm. Contact:Linkedin JOIN OUR COMMUNITY Facebook X YouTube Telegram
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