Dogecoin Worth Millions Linked To Illegal Activities

  • Dogecoin price at time of writing – $0.06245
  • Infowars has so far raised over $1,700 (£1,383) in Dogecoin
  • Its market capitalization has decreased by 1% in the last 24 hours

Dogecoin is increasingly being associated with illegal actions including Ponzi schemes, funding psychological warfare and child sexual abuse material (CSAM), as another report by blockchain investigative firm Elliptic states. .

According to the report, the picture piece has enjoyed gaining prominence as a pouring technique; Be that as it may, alongside the real causes, it has also drawn the attention of troublemakers, with a large number of Dogecoin exchange dollars associated with illegal, distinguished movements.

Highlighting the growing reception of Dogecoin for funding psychological oppression, the report references a July 2021 seizure request led by Israel’s National Office for Counterterrorism Funding against 84 crypto addresses accepted to be connected to the group. of Hamas attackers or generally used in fear-related movements; among the crypto addresses were wallets containing $40,235 in DOGE.


The report also welcomed a small and growing number of CSAM vendors working on both darknet and clearnet that have been installed in Dogecoin. Although the true measure of Dogecoin recognized by Elliptic for this situation is low – less than $3,000 – experts have warned that it focuses on the need for criminal artists to embrace a wide variety of crypto-assets in the world. aim to stay away.

Ponzi Tricks and Schemes

The most notable wrongdoings related to Dogecoin, as reported by Elliptic, are burglaries, tricks, and Ponzi schemes.

As stated by the company, to date it has acknowledged more than 50 cases of theft, cheating, and Ponzi schemes that have helped offenders earn large amounts of Dogecoin dollars.

These include the $6 billion PlusToken Ponzi scheme, which resulted in over $20 million of DOGE being captured by Chinese experts in 2020, and an alleged $119 million theft of Dogecoin linked to a plot. Turkish Ponzi in 2021.

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Far-Right Radicals Are Embracing Crypto

Gatherings of far-right fanatics, when excluded from conventional asset-gathering techniques, have also turned to digital currencies, including Dogecoin, Elliptic noted.

According to the company, these incorporate various far-right news destinations, web logs and video sharing stages.

One such news site, Infowars, which claims to engage globalism and promote a human future around the world, CryptoPunks Now the Most Trading NFT Collection has so far raised over $1,700 (£1,383) in Dogecoin.

Elliptic’s findings mirror those of the Financial Action Task Force, which reported last year that far-right rallies were gradually moving toward cryptographic forms of money, including Bitcoin and security coins.

Dogecoin, which was recently pushed vigorously by Tesla CEO Elon Musk, is now the tenth largest digital currency in the world with a market cap of over $8 billion.

Nancy J. Allen

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Dogecoin Worth Millions Linked To Illegal Activities

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