Dogecoin is a cryptocurrency based on the popular "Doge" Internet meme and features a Shiba Inu on its logo. Dogecoin is a Litecoin fork. Introduced as a "joke currency" on 6 December 2013, Dogecoin quickly developed its own online community and reached a capitalization of US$60 million in January 2014. Compared with other cryptocurrencies, Dogecoin had a fast initial coin production schedule: 100 billion coins were in circulation by mid-2015, with an additional 5.256 billion coins every year thereafter. As of 30 June 2015, the 100 billionth Dogecoin had been mined.
A report from Elliptic notes a growth in the use of Dogecoin among criminals. While it is most common in robberies, frauds and Ponzi schemes, it is also seen in other more serious crimes.
- Dogecoin gains gains refer to an increase in value or profit. traction for illicit use, says Elliptic report.
- Scams, fraud, terrorist financing are some of the uses of DOGE.
- Although to a lesser degree, memecoin memecoins are the crypto tokens created as a joke or meme and claim to offer huge gains to holders. was also linked to child sexual abuse material.
It seems that billionaire Elon Musk isn’t the only fan of the Dogecoin and some malicious actors also prefer the puppy meme cryptocurrency.
A new research of the analysis firm Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. , Elliptic has shed light on some shady uses that criminals make of cryptocurrency. Beyond its use for payment of legal goods and services, it was found that millions of dollars in transactions of Dogecoin (DOGE) are linked to illicit activities.
In his report, Elliptic highlighted the growing popularity memecoin has gained, a product of the constant Musk promotion CEO of Tesla He noted, however, that such attention has not escaped criminals, who have been increasingly using DOGE for criminal activities, some more shady than others.
While the vast majority of this activity consists of frauds, scams and ponzi schemes, it also includes the most serious types of crime, including terrorist financing and child sexual abuse material (CSAM) peddlers.
DOGE vinculado a actividades criminales
The report then elaborated on several of the illicit uses linked to Dogecoin . Regarding the financing of terrorism, Elliptic cited a forfeiture order July 2021 by Israel’s National Counterterrorism Financing Bureau against 84 cryptocurrency addresses believed to be linked to the militant group. Hamas, or otherwise used in terrorism-related activities. E Among those addresses were wallets containing more than $40,000 in DOGE.
The firm also found several markets in the darknet web pages that cannot be detected or identified by search engines. which accept payments in the doggy cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. in exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. for drugs, stolen data and even child abuse material. However, with regard to the latter, the investigation noted that the use of Dogecoin within the CSAM community is currently very low. , con menos de USD $3.000 en pagos identificados.
Analysts at Elliptic made the remark but not without warning that this trend of use points to a “ criminal actors’ appetite for adopting a wide range of cryptoassets in an attempt to avoid being reported “.
Mientras tanto, el uso ilícito “ most remarkable The DOGE’s “Theft, Fraud and Ponzi Schemes” report continues to be those related to crimes such as robberies, scams and Ponzi schemes. According to the report, to date more than 50 cases of thefts, frauds and Ponzi schemes have been identified that helped criminals earn “ hundreds of millions of dollars in Dogecoin “.
To illustrate these cases, the following was cited as an example el Ponzi scheme, PlusToken of USD$ 6 billion which resulted in the seizure of more than $20 million in DOGE by Chinese authorities in 2020; as well as an alleged theft of $119 million in Dogecoin linked to a Turkish Ponzi scheme in 2021.
Right-wing extremists and other shady uses
The investigation also addressed other obscure cases linked to Dogecoin including malware and its use by radical right-wing extremist groups.
On the former, the analysts indicated that they had found “ several campaigns “of malicious software designed to steal DOGE balances from its victims. Among them, a “ malware malware or malicious software refers to harmful programs utilized by bad actors to illegally access and/or compromise a computer, network or server. family called Cliptomaner that hijacks computers to mine cryptocurrencies “and that he has stolen about $30,000 in Dogecoin .
Extreme right-wing extremist groups also seem to opt for Dogecoin , among other cryptocurrencies, when it comes to fundraising, according to the report. “ Numerous news sites, blogs and video-sharing platforms “The number of radical right-wing extremist entities have adopted DOGE payments, although the amount of DOGE funds linked to these organizations still appears to be low.
Although created as a joke in 2013, the report by Elliptic muestra cómo la adopción de DOGE ha crecido en los últimos años, incluso entre los delincuentes. Sin embargo, no es la única. Varias investigaciones recientes ya han señalado que la creciente popularidad de las monedas digitales también ha impulsado su relación con actividades ilícitas.
- Class action lawsuit filed against Elon Musk for publicly promoting Dogecoin
- FBI creates new unit specifically dedicated to tackling cryptocurrency-related crime
- México: carteles del crimen recurren cada vez más a Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. para lavar dinero, revelan autoridades
Article by Hannah Estefania Perez / DiarioBitcoin
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