Bitcoin
Bitcoin (BTC)
$67,014.00 2.54729
Bitcoin price
Ethereum
Ethereum (ETH)
$3,092.21 4.94005
Ethereum price
BNB
BNB (BNB)
$580.88 1.89047
BNB price
Solana
Solana (SOL)
$169.49 5.80374
Solana price
XRP
XRP (XRP)
$0.5231660 1.35515
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000250 1.74512
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000103 2.07795
Pepe price
Bonk
Bonk (BONK)
$0.0000245 2.46019
Bonk price
Bitcoin
Bitcoin (BTC)
$67,014.00 2.54729
Bitcoin price
Ethereum
Ethereum (ETH)
$3,092.21 4.94005
Ethereum price
BNB
BNB (BNB)
$580.88 1.89047
BNB price
Solana
Solana (SOL)
$169.49 5.80374
Solana price
XRP
XRP (XRP)
$0.5231660 1.35515
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000250 1.74512
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000103 2.07795
Pepe price
Bonk
Bonk (BONK)
$0.0000245 2.46019
Bonk price
Bitcoin
Bitcoin (BTC)
$67,014.00 2.54729
Bitcoin price
Ethereum
Ethereum (ETH)
$3,092.21 4.94005
Ethereum price
BNB
BNB (BNB)
$580.88 1.89047
BNB price
Solana
Solana (SOL)
$169.49 5.80374
Solana price
XRP
XRP (XRP)
$0.5231660 1.35515
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000250 1.74512
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000103 2.07795
Pepe price
Bonk
Bonk (BONK)
$0.0000245 2.46019
Bonk price
Bitcoin
Bitcoin (BTC)
$67,014.00 2.54729
Bitcoin price
Ethereum
Ethereum (ETH)
$3,092.21 4.94005
Ethereum price
BNB
BNB (BNB)
$580.88 1.89047
BNB price
Solana
Solana (SOL)
$169.49 5.80374
Solana price
XRP
XRP (XRP)
$0.5231660 1.35515
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000250 1.74512
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000103 2.07795
Pepe price
Bonk
Bonk (BONK)
$0.0000245 2.46019
Bonk price
SirWin
SirWin
SirWin

Europol slams DeFi over high criminal activity

europol-slams-defi-over-high-criminal-activity
Edited by
News
Europol slams DeFi over high criminal activity

International crime-fighting agency Europol has praised blockchain’s security, but also highlighted high criminal activity in decentralized finance.

Europol, the EU law enforcement organization, has published its first European Financial and Economic Crime
Threat Assessment. It describes an in-depth assessment of the threats posed by cybercriminals at the European level.

Besides financial crimes in traditional finance, Europol also addressed in the document the illicit use of cryptocurrencies. Although the agency praised blockchain for its independence and security, Europol criticized decentralized finance (DeFi). The agency believes the lack of crypto regulation “leaves
openings for economic crime since criminals hold illicit assets on DeFi platforms.”

“The use of cryptocurrencies for criminal schemes is also increasing in line with their overall
adoption rate.”

Europol

However, Europol pointed out that the illicit use of crypto still represents “less than one percent of the overall transaction volume.” In addition to DeFi, the agency addressed wide-scale scams involving non-fungible tokens (NFTs). Europol says NFTs pose a “significant risk of money laundering due to their instant trading feature across borders.”

Europol slams DeFi over high criminal activity - 1
DeFi TVL. Source: DeFiLlama

Although DeFi has become hot for hackers and scammers, on-chain data indicates a steady decline in the total value locked among all DeFi protocols. According to DeFiLlama data, DeFi’s TVL is set at $37.3 billion as of press time, which is near levels last seen in February 2021.

In July, the U.S. Senate proposed a strict bill for DeFi regulation that the crypto community criticized. Shortly after the proposal, the Blockchain Association slammed the new bill, calling it incompatible with the industry as it pressures the DeFi protocols to collect user data.