Stolen billions from errant mouse clicks: Crypto requires new approaches to attack money-laundering. Source: The Bulletin of the Atomic Scientists

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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

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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.

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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.

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