Cryptocurrencies including Bitcoin have gained some notoriety for their use in fraudulent activities. It seems the problem is still lingering as a recent report has revealed alarming amounts of scams facilitated by cryptocurrencies. A Chainalysis study revealed that between April 2019 and June 2021, cryptocurrency addresses originating from China sent more than $2.2 billion of digital tokens to addresses tied to scams and illegal darknet operations. The study which analyzed China’s cryptocurrencies activities amidst the ongoing government crackdown on the industry also revealed that the suspicious addresses received around $2 billion in cryptocurrencies from equally illicit sources. China has a...