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Since earlier than Bitcoin and different cryptocurrencies turned mainstream funding autos, they’ve been a way of executing cyber crimes. Nevertheless, crimes affiliated with cryptocurrencies took a brand new form this week, which additionally led to a casualty.
Bitcoin Prices This Man Extra Than Simply $70,000
Earlier this week, a foreigner within the metropolis of Kyiv, Ukraine, was kidnapped and strangled to dying. Nevertheless, earlier than the 4 suspects strangled the person, he was compelled to disclose the crypt to his Bitcoin, which was later seized by the accused.
In accordance with the police, the stolen crypto was price over 7 million hryvnias, or about $170,579. Nevertheless, the police apprehended the 4 accused males and the stolen cash.
That is the primary such occasion in current historical past of a bodily crime being premeditated and dedicated utilizing cryptocurrency.
Previously, most crimes involving crypto belongings have been restricted to Malware, Fraud or Scams, Ransomware, or Cash Laundering. Nevertheless, rising consciousness of those crimes and improved response and protection from the authorities have led to a substantial decline.
In accordance with the Chainalysis report, illicit addresses obtained solely $24.2 billion in crypto belongings in 2023. This marked a 38% decline from the earlier 12 months, 2022, when $39.6 billion price of cryptocurrency moved into these wallets.
Curiously, Bitcoin is now not the selection of asset for crypto crimes. The vast majority of belongings used have been stablecoins, with Bitcoin, Ethereum, and altcoins collectively accounting for 27% of the full illicit transaction quantity.
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