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Chinese Cryptocurrency Tied To More Than $2B In Crime, Scams

News Snapshot:

Chinese cryptocurrency is the latest involved in a rash of illicit activity involving $2.2 billion in digital payment tokens used in scams and dark internet operations over a two-year period. Chinese cryptocurrency addresses sent and received funds for illegal activity from April 2019 through June 2021, according to a Reuters report. Cryptocurrency schemes have become more widespread in recent years. In July, British police impounded $249 million in cryptocurrency that had been linked to a money-laundering operation. That seizure was said to be the largest in the country’s history. Action Fraud, England’s national fraud-reporting operation, recorded 5,581 crypto-related crimes in…

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