Bitcoin no longer asset of choice for criminals - former Elliptic crypto advisor
Criminals have moved away from using Bitcoin for money laundering, with stablecoins emerging as an alternative due to accessibility. Crime in Web3 is shifting away from Bitcoin (BTC) to stablecoins while ponzi schemes remain prevalent, according to Elliptic’s former head of technical crypto advisory. Tara Annison shared the latest insights from the murky world of cryptocurrency-related crime during a presentation on the final day of EthCC in Paris, addressing a wide variety of ways in which digitals assets are either facilitating crime or being used to launder funds. According to Annison, Bitcoin is no longer the cryptocurrency of choice to carry out illicit activities or launder money. As the cryptocurrency industry has matured, the establishment of decentralized finance (DeFi) protocols, mixing services and stablecoins present new avenues for criminals to explore. Source: Tara Annison. Criminals have shifted towards using dollar-denominated asset s, like USD Coin (USDC), as their ea...