The nature of cryptocurrency fraud is shifting away from exchange hacks, and toward Ponzi-style frauds, pyramid schemes and exit scams. A massive 533% rise in the value of such crimes means that as misappropriated funds are laundered, the traditional banking system is increasingly exposed to risk under upcoming Financial Action Task Force (FATF) rules.
Happy Chinese New Year! As the Year of the Yellow Mountain Dog has drawn to a close, it is time to look back at what happened.
While there was a promising start in January 2018, when most altcoins were enjoying their all-time highs, the bear eventually took over, and the market delved into the so-called “Crypto Winter.” Nevertheless,