Europol Warns that Bitcoin Mining Draws Unique Criminal Elements

Really don’t be fooled by crypto mining and layer-2 options, warns Europol!

Europol isn’t mincing words and phrases when it will come to crypto mining and layer-2 blockchain solutions, stating firmly that they present “additional problems for regulation enforcement investigations.”

Delving into a new 40-site report on cryptographic encryption, the company points out how criminals are turning to crypto mining as a way to launder their dirty income.

In accordance to Europol, the crafty use of mining functions can enable crooks disguise their ill-gotten gains and even convert a income in the method. What is a lot more concerning is the detection of suspicious routines in mining pools, specifically people taken gain of by ransomware operators.

“[…] pool mining strategies have also been utilised by scammers to operate their Ponzi schemes. For instance, the BitClub Community promised earnings by pool mining, although these swimming pools did not essentially exist defrauded traders shed hundreds of thousands and thousands of euros.”


But the crypto threats you should not end at mining by yourself. Europol also shines a spotlight on the broader cryptocurrency landscape, expressing problems more than the increase of zero-awareness proofs and layer-2 applications. These technologies, though impressive, could make it tougher to observe the movement of funds, posing a problem for regulation enforcement investigations.

As if that was not enough, Europol highlighted one more hurdle with the SLIP39 conventional applied in components crypto wallets. This standard enables for the development of many restoration shares in its place of a one mnemonic phrase, complicating initiatives to seize a criminal’s digital property, the company notes.

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