Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Grayscale's Owner Sees Spike in Fee Income After Crypto Mixer Used for Money Laundering by North Korean Hackers

Grayscale's Owner Sees Spike in Fee Income After Crypto Mixer Used for Money Laundering by North Korean Hackers

CointimeCointime2024/10/31 10:44
By:Cointime

According to an investigation by Forbes, Grayscale's owner Barry Silbert saw an increase in fee income after Railgun, a crypto mixer allegedly used by North Korean-hacker group Lazarus to launder stolen crypto, was utilized in 2023. Digital Currency Group (DCG), which owns Grayscale, is believed to have benefited from the laundering through Railgun, receiving $436,906 in fees from June 2023 to the present. DCG invested $10 million in Railgun in 2022 and received 5 million RAIL tokens in return, but the value of their investment has decreased by over 60%. There are concerns about DCG's involvement in Railgun's alleged North Korean-laundering of $60 million, but DCG claimed rewards from the incident in January 2023. This highlights the challenges of balancing privacy tools with the need to prevent bad actors from using DeFi platforms. The IRS Criminal Investigation unit has emphasized the need for DeFi platforms to ensure compliance with laws and regulations, and Railgun is partnering with Chainway Labs to improve its compliance with the Proof of Innocence solution. However, experts warn that a permission-less system cannot be fully compliant.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!