While cryptocurrencies have a reputation for being anonymous, all transactions are recorded on a permanent, public ledger. Criminals launder money to prevent authorities from tracing the source of illicit funds . However, if they make one mistake along the way, their entire scheme can be undone.
Read moreWhat caused the crypto crash?
Follow our live coverage of the crypto market But the main cause of the slump appears to be a plunge in the stock market amid concerns of a potential hike in interest rates by the US Federal Reserve .
Read moreHow many bitcoins are stolen?
According to court documents, Lichtenstein and Morgan allegedly conspired to launder the proceeds of 119,754 bitcoin that were stolen from Bitfinex’s platform after a hacker breached Bitfinex’s systems and initiated more than 2,000 unauthorized transactions.8 Şub 2022
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