> Flashing your wealth on social media or being a high profile executive is dangerous, crypto-ties or not.
Having your wealth held in a form that can be instantly, irreversibly transferred in a way that can be done anonymously by skilled individuals is an added risk.
Some of the same features that people celebrate about crypto make it uniquely advantageous to people looking to execute these attacks.
Yes, we know that in theory attackers could go after some random high profile person and force them to go through bank transfers and then go through all of the additional steps of washing that money through international banks in a way that hopefully cleans their trail sufficiently.
But anyone planning an attack like that would be drawn to a target that already has their money held in a digitally transferable format that is infinitely easier to launder using the modern array of cryptocurrency tools.
Having your wealth held in a form that can be instantly, irreversibly transferred in a way that can be done anonymously by skilled individuals is an added risk.
Some of the same features that people celebrate about crypto make it uniquely advantageous to people looking to execute these attacks.
Yes, we know that in theory attackers could go after some random high profile person and force them to go through bank transfers and then go through all of the additional steps of washing that money through international banks in a way that hopefully cleans their trail sufficiently.
But anyone planning an attack like that would be drawn to a target that already has their money held in a digitally transferable format that is infinitely easier to launder using the modern array of cryptocurrency tools.