Cryptocurrency News: Building in Resiliency and International Co-Operation

According to Chainalysis, money laundering through cryptocurrencies rose by around 30% to $8.6bn in 2021. This is not surprising, as cryptocurrencies have seen huge amounts of interest by both legitimate and illegitimate investors throughout 2021. One interesting takeaway from the report was that scammers, still tend to send their stolen crypto to wallets on centralised exchanges. This highlights those exchanges must do more to accurately identify their customers (using processes such as KYC) and also apply techniques such as machine learning to spot anomalies within transactions.

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