An electronic screen inside a BitBase cryptocurrency exchange in Barcelona, Spain, displays the crash of stablecoin TerraUSD and its sister token Luna. Image courtesy Angel Garcia/Bloomberg via Getty Images

PREMIUM

Stolen billions from errant mouse clicks: Crypto requires new approaches to attack money-laundering

By Aaron Arnold, July 11, 2022

Bitcoin has been on a rollercoaster, to say the least.

In 2011, a New York Times article predicted that bitcoin—one of the most well-known virtual currencies—would collapse after a ninefold increase in value (Beales and Cyran 2011). At that time, a single bitcoin was worth about nine dollars. Since then, a single bitcoin reached a value of nearly $46,000 six months ago—only to drop to near half that value as of this writing.

https://buy.tinypass.com/checkout/offer/show?displayMode=inline&containerSelector=%23piano-template&templateId=OTUVKRGG0ZRW&offerId=OFKO4FKZ656O&formNameByTermId=%7B%7D&hideCompletedFields=true&showCloseButton=false&experienceId=EXV89ILUMA3A&widget=offer&iframeId=offer-0-y5KSJ&url=https%3A%2F%2Fthebulletin.org%2Fpremium%2F2022-07%2Fstolen-billions-from-errant-mouse-clicks-crypto-requires-new-approaches-to-attack-money-laundering%2F%3Futm_source%3DAnnouncement%26utm_medium%3DEmail%26utm_campaign%3DAnnouncement07132022%26utm_content%3DDisruptiveTechnologies_StolenBillions_07112022&parentDualScreenLeft=0&parentDualScreenTop=0&parentWidth=1000&parentHeight=900&parentOuterHeight=900&aid=nXzetAXNpu&pianoIdUrl=https%3A%2F%2Fid.tinypass.com%2Fid%2F&userProvider=piano_id&userToken=&customCookies=%7B%22_pc_NewsletterReceiver%22%3A%22true%22%7D&hasLoginRequiredCallback=true&initMode=context&width=574.1500244140625&_qh=fd4b1b60c9

References

Antoniou, A. 2018. “Bridging the Divide between Code and Law in Distributed Ledger Ecosystems.” Oxford Business Law Blog (blog). October 3. https://www.law.ox.ac.uk/business-law-blog/blog/2018/10/bridging-divide-between-code-and-law-distributed-ledger-ecosystems.

Bartlett, J. 2022. “Following the Crypto: Using Blockchain Analysis to Assess the Strengths and Vulnerabilities of North Korean Hackers.” Washington, D.C.: Center for a New American Security. https://s3.us-east-1.amazonaws.com/files.cnas.org/documents/BlockchainAnalysisEES.pdf.