Post
Topic
Board Beginners & Help
Re: Father of cryptocurrency entrepreneur rescued after being kidnapped for ransom
by
sokani
on 06/05/2025, 15:20:29 UTC
I believe crypto holders are targeted more because these thieves have discovered that it's more difficult to track crypto than regular fiat transactions that con be traced very easily across banks.
Actually, crypto is not too difficult to track. Blockchain analytic companies like Chainalysis, Elliptic etc, have shown that cryptocurrency can be easily traced. However, I think the reason criminals prefer crypto in carrying out nefarious activities is because it has greater anonymity. Traditional banking makes use of bank accounts tied to users identity, and as such, they can be easily identified, while crypto does not. It makes use of wallet addresses that are not tied to their identity. Another reason is that crypto is accessible and cannot be frozen (except those issued by centralized entities and the ones on CEXs).