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Attention!!! A New Way to Launder Money Through Bitcoin.

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Bitcoin Mining

“Exclusive Bitcoin Mining”

Bitcoin Mining

Employees of the Blockchain Research Lab released an article in which they talked about an increasingly popular method of money laundering through cryptocurrency. The mechanism was named “exclusive bitcoin mining”. Follow the link below and read.

Exclusive Mining of Blockchain Transactions 

According to the researchers, attackers are asking miners to confirm transactions placed through private channels in exchange for a reward. Such a transaction remains unaccounted for by many analytical systems, as it looks like a reward from the mining of cryptocurrency.

“Disguising remittances as transaction costs allow for tax evasion or money laundering,” the authors of the article note.

It is very difficult to detect cases of “exclusive mining” and prove criminal intent because the mining of cryptocurrencies is not prohibited by law.

“Vampire Bitcoin Mining”

Bitcoin Mining

Another way to make money by mining cryptocurrencies is widespread in the DeFi market and is called “vampire mining”. Its essence lies in the fact that new decentralized projects “suck” liquidity from more profitable protocols and transfer it to themselves.

An example of “vampire mining” is the SushiSwap project, which positions itself as a fork of the Uniswap exchange.

Recall, its creators distribute SUSHI tokens among liquidity providers in the amount of 0.05% of collected trading commissions. 0.25% of the fees received go directly to them, while at Uniswap it is 0.3%. The resulting tokens can be sold on the market or used in voting on project management.

In early September, under pressure from the market, the price of the token fell by more than 50%.

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