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

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

By Aaron Arnold, July 11, 2022

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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

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.

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.

As the Russian invasion of Ukraine shows, nuclear threats are real, present, and dangerous

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