Cryptocurrency and crime

Cryptocurrency and crime describe notable examples of cybercrime related to theft (or the otherwise illegal acquisition) of cryptocurrencies and some methods or security vulnerabilities commonly exploited. Cryptojacking is a form of cybercrime specific to cryptocurrencies that have been used on websites to hijack a victim's resources and use them for hashing and mining cryptocurrency.^[1]

According to blockchain analysis company Chainalysis, around US$2.5 billion was laundered through Bitcoin between 2009 and 2018, and the fraction of cryptocurrency transactions linked to illicit activities has been on the rise since early 2019.^[2] In 2021, 0.15% of known cryptocurrency transactions conducted were involved in illicit activities like cybercrime, money laundering and terrorism financing, representing a total of $14 billion.^[3]

^ Lachtar, Nada; Elkhail, Abdulrahman Abu; Bacha, Anys; Malik, Hafiz (2020-07-01). "A Cross-Stack Approach Towards Defending Against Cryptojacking". IEEE Computer Architecture Letters. 19 (2): 126–129. doi:10.1109/LCA.2020.3017457. ISSN 1556-6056. S2CID 222070383.
^ Teichmann, Fabian Maximilian Johannes; Falker, Marie-Christin (2020-01-01). "Money laundering via cryptocurrencies – potential solutions from Liechtenstein". Journal of Money Laundering Control. 24 (1): 91–101. doi:10.1108/JMLC-04-2020-0041. ISSN 1368-5201.
^ Smagalla, Mengqi Sun and David (2022-01-06). "Cryptocurrency-Based Crime Hit a Record $14 Billion in 2021". Wall Street Journal. ISSN 0099-9660. Archived from the original on 2022-10-07. Retrieved 2022-01-16.

[1] Lachtar, Nada; Elkhail, Abdulrahman Abu; Bacha, Anys; Malik, Hafiz (2020-07-01). "A Cross-Stack Approach Towards Defending Against Cryptojacking". IEEE Computer Architecture Letters. 19 (2): 126–129. doi:10.1109/LCA.2020.3017457. ISSN 1556-6056. S2CID 222070383.

[2] Teichmann, Fabian Maximilian Johannes; Falker, Marie-Christin (2020-01-01). "Money laundering via cryptocurrencies – potential solutions from Liechtenstein". Journal of Money Laundering Control. 24 (1): 91–101. doi:10.1108/JMLC-04-2020-0041. ISSN 1368-5201.

[3] Smagalla, Mengqi Sun and David (2022-01-06). "Cryptocurrency-Based Crime Hit a Record $14 Billion in 2021". Wall Street Journal. ISSN 0099-9660. Archived from the original on 2022-10-07. Retrieved 2022-01-16.

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