In a Telegram post, crypto investigator ZachXBT said the hack has been “eye-opening,” showing how the industry is “unbelievably cooked” with hacks and exploits. The crypto sleuth said the industry may be unable to fix itself unless the government “forcibly passes regulations that hurt our entire industry.” The investigator shared that as he helped freeze funds related to the hack, he witnessed flaws with decentralized and centralized protocols.
This includes drug trafficking and migrant smuggling. Europol also said that more criminal schemes have emerged to steal crypto, NFTs and resources used to mine crypto. Related: Hacker breaks into AI crypto bot aixbt’s dashboard to snatch 55 ETHZachXBT says the Bybit hack shows how the industry is “cooked” The most recent high-profile criminal activity in the crypto space is the Bybit hack, which led to nearly $1.5 billion in losses.
The European Union Agency for Law Enforcement Cooperation (Europol) published a report explaining how artificial intelligence and crypto affected organized crime. In a threat assessment report on serious and organized crime, Europol stated that AI and crypto play a role in criminal efficiency.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Ezra Reguerra
The story "AI and crypto drive criminal efficiency: Europol" has 511 words across 21 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "AI and crypto drive criminal efficiency: Europol" was covered 12 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 261 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
