Cryptocurrencies, AI and DeFi are becoming an “umbrella” for money laundering - HackYourMom

20 March 2025 2 minutes Author: Newsman

Europol warns: cryptocurrencies, decentralized finance platforms (DeFi) and artificial intelligence (AI) are significantly complicating the fight against money laundering. A new report from the agency shows that criminals are skillfully using digital tools to hide illegal transactions, which creates critical challenges for law enforcement agencies.

Cryptocurrency mixers, anonymous payment systems, as well as strategies such as “chain hopping” (switching between different cryptocurrencies) or the use of Monero allow criminals to skillfully mask the traces of transactions. For example, the ChipMixer service, which was liquidated in 2023, was used to launder 152,000 bitcoins (equivalent to $ 13 billion).

Artificial intelligence is also exacerbating the problem. Europol notes that AI is empowering criminal networks by accelerating and automating financial crimes. While quantum computers have yet to hit the mass market, the report notes their potential to accelerate cybercrime in the future.

At the same time, the crypto community is against excessive control, emphasizing the importance of financial anonymity and the protection of personal data.

Cryptocurrencies have long been under the close attention of law enforcement agencies due to their ability to ensure the anonymity of financial transactions. The main problem is weak regulations in many countries, which allow the creation and maintenance of services to hide transactions. One of the popular methods of money laundering is “crypto-swapping” – the exchange of one cryptocurrency for another through services that do not require user identification. NFTs and darknet marketplaces are also actively used.

Europol points to the increased danger of digital technologies in the field of financial crimes. Although cryptocurrencies remain a tool for illegal activities, it is necessary to find a balance between fighting crime and ensuring the privacy of legitimate users.

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