The Wall Street Journal has an excellent piece exploring the criminal side of cryptocurrency. Long-time readers know I’m a fan of cryptocurrency, but this piece offers excellent insight on the dark side of this technology. Here’s a snippet:
For many criminals, cryptocurrency is less cumbersome than cash. Hackers hold computer systems hostage and demand instant, anonymous payment in bitcoin. Drug dealers sell in dark corners of the internet, obscuring their names and locations. Narcotics traffickers move and launder their profits with clicks of a mouse. “The cases have exploded,” says Gabriel Bewley, a special agent in the virtual-currency initiative at the Drug Enforcement Administration.
I’ve read some really awful attacks on cryptocurrency and Bitcoin in the last few weeks, pieces that are devoid of logic, knowledge, and understanding. What I like about this piece is that it covers this real problem with facts and without hyperbole. If you’re looking for some understanding on this issue, this is a great article to read.