Dark Tech: Latest Ransom Scandals Highlight Crypto’s Role As Money Laundering Play [Forbes]
SWEDBANK AB S/ADR (SWDBY)
NASDAQ:AMEX Investor Relations:
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Source: Forbes
Monero coin, a crypto currency that prides itself of being untraceable, was used to hold the... [+]Colonial Pipeline Company of Georgia hostage for $4.4 million.KMR ImagesThe Colonial Pipeline ransom was paid inaccordingheld hostageRussians are often considered the boogey mengovernment-directed or not.But one curious trend is happening in the world of high-tech thievery: cryptocurrency is the Miami penthouse of offshore money launderers, the receptacle of the ill-gained cash. And concern that governments will crack down on crypto because of ransomware hacks, and traditional tax evasion, has a lot to do with the recent sell off in Bitcoin, down around 40% in the last two weeks.Moreover, if it’s new tech related; foreign money wants it. But some of that money wasn’t exactly earned the old fashion way, as that classic1979 Smith Barney investment firm commercialForeign investors have been pouring money into Silicon Valley tech startups and VC firms for years.How much of that money was not
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