Crypto Blog
In a decisive move to counter the escalating use of cryptocurrencies in criminal activities, London’s Metropolitan Police established a 40-member team specializing in crypto investigations.
The allure of cryptocurrencies for criminal networks lies in their capacity to obfuscate assets and enable seamless cross-border transactions. Bitcoin, in particular, has long been favored for its ability to shield illicit wealth transfers, presenting a considerable challenge for law enforcement agencies worldwide.a 41% surge in reported UK crypto fraud cases over the past year, amounting to a staggering £306 million.
Blockchain researchers at TRM Labs reported that crypto fundraising has witnessed a notable upswing following violent attacks by these groups, with Hamas-controlled crypto addressesCloser to home, criminal syndicates in the UK have quickly adopted cryptocurrencies for their illicit endeavors. One notable case saw eleven individuals in Cardiff sentenced for converting 40 kilograms of cocaine into an estimated £3 million worth of cryptocurrency.
Across the pond, US regulators have taken legal action against major industry players, including Coinbase and Binance. Additionally, the ongoingGoogle’s Swift Move Towards Web3 Adoption: Advancements and ImplicationsSix Important Considerations for the Ethereum Price Going in Q4 2023
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