Let’s start with two basic questions: How different is a crypto scam compared to other financial scams? And how prevalent are they?Essentially, crypto scams work similar as any other financial scam with the difference that malicious actors aim to get a hold of cryptocurrencies and crypto-based assets rather than fiat money. The crypto ecosystem has …
In short, ransomware is a type of illegal software designed to block access to a device or computer system until a sum of money (= ransom) is paid. Ransomware attacks have grown significantly in both number and scale over the last few years according to the latest FATF Report Countering Ransomware Financing (March 2023): The estimated number …
Ransomware attacks & cryptocurrencies: what, why and how? Read More »
Incentivised by the money inflows in crypto assets, malicious actors and groups have found ways to steal funds of blockchain ecosystem participants through hacks and exploits. Besides the loss of assets of individual users and companies, these hacks have also diminished the trust in the blockchain technology and its applications, especially DeFi. Learn in this …
Mexico has seen a rise in both the popularity of cryptocurrencies and interest in the blockchain technology over the past few years. Indeed, Statista predicts that in 2023 around 12 million people will use cryptocurrencies in Mexico, a steep increase from 1.06 million users in 2020. Similarly, Bitso — a crypto exchange founded in Mexico in 2014 — …
Countries across the Latin American region have been affected by severe devaluation of their local currencies, coupled with high inflation rates. One of the effects of this situation is that the popularity of digital assets has risen in the region as residents began viewing them as a way of storing value and consequently started shifting parts …
This article aims to provide you with an overview and introduction to on-chain data analysis — we will dive into the specifics in future ones. What — an introduction Essentially, on-chain data analysis (or also called on-chain analysis) encompasses the necessary steps to understand and visualise the numerous data points stored on a blockchain with …
On-chain data analysis fundamentals: what, why and how? Read More »
Digital assets are susceptible to illicit activities, including money laundering and financing of terrorism (ML/FT) (read in our previous article more about the reasons). In the traditional financial services industry, effective anti-money laundering and combating the financing of terrorism (AML/CFT) frameworks and measures are considered crucial to mitigate these risks. Deriving from this, the Financial Action Task Force …
Globally, the cryptocurrency industry is subject to illicit activities, notably money laundering — read about the underlying reasons in our previous article Combating money laundering related to cryptocurrencies. In 2018, the National Risk Assessment (NRA) regarding Risk of money laundering and terrorist financing posed by crypto assets and crowdfunding concluded that this global risk is also considerable for …