The currency is apparently being used by criminals to facilitate vices such as fraud, scams, Ponzi schemes, terrorism, and the sale of millions of dollars worth of child sexual abuse materials, according to research published by Elliptical Connection on June 22.
According to research, it is said that:
High-profile crimes facilitated by Dogecoin involve scams, fraud, and Ponzi schemes numbering around 50 cases.
Some of the notable crimes include the Plus Token Ponzi scheme that resulted in the seizure of over $20 million in DOGE by Chinese authorities and the alleged theft of $119 million in Dogecoin linked to a Turkish Ponzi scheme in 2021.
There are many things in the world that can be used for the benefit of human beings. Cryptocurrency is one of them. Just think of the little knife we use to do the necessary work every day, on the other hand, many people are harming people or animals with this same thing, so we can not blame the knife.