$761 Laundered Via Crypto in 2018, Research Says

In 2017, criminals laundered 'only' $261 millions, three times less than for the first part of 2018
04 July 2018   520

During the first six months of 2018, fraudsters laundered $ 761 million using cryptocurrency. This data was published by the CipherTrace, American Banker reports.

As CEO of CipherTrace Dave Jevans said, the world trend of money laundering using crypto-currency sharply increased this year. According to his forecasts, by the end of 2018 the amount of funds "hidden" in this way will increase to $ 1.5 billion.

For comparison, for the entire year of 2017 criminals, in order to conceal their illegal incomes, laundered $ 266 million - three times less than in the first half of 2018.

Money Laundering
Money Laundering

CipherTrace AML, based on artificial intelligence was created to fight money laundering. To identify potential sources of money laundering, the system uses advanced analysis methods and public cloud services.

These let people contribute funds into a combined pool that will scramble them up and try to use a different pool of liquidity that is not trackable on the blockchain, so there’s no linkage between them to deliver funds out to the receivers. These are written by highly skilled people who may have Ph.D.s, that are actively trying to avoid tracing.

David Jevans

CEO, CipherTrace

The technology developed by CipherTrace offers a visual interface showing traces of financial flows and attributive information about the current currency location, including the country and the exchanges used. According to developers, these flows can also help determine the possible origin of the transaction from the darknet.

Bitcoin Cash Hardfork Implemented

Hardfork of a hardfork... just don't get confused in this crazy world of cryptocurrency
16 November 2018   81

Today, on November 15, a hardfork was implemented in the Bitcoin Cash (BCH) network. The first block in the Bitcoin ABC blockchain has mined a pool of Bitcoin.com.

The last “common block” was # 556,766, mined by SVPool. on which the protocol update was activated.

Bitcoin SV got its first block. Now we can definitely talk about the division of Bitcoin Cash into two competing blockchains. Roger Ver, right before the hardfork, said that his pool had sent a significant amount of power to mining Bitcoin ABC.

Bitfinex exchange announced the transfer of BAB and BSV coins to the accounts of BCH holders.

Poloniex converted all BCH balances into assets BCHABC and BCHSV. At the same time, the BCH market became unavailable. Instead, the BCHABC / BTC, BCHSV / BTC, BCHABC / USDC and BCHSV / USDC trading pairs appeared. I / O of BCHABC and BCHSV is not yet available, but will open when the network stabilizes.