OODA Founders Matt Devost & Bob Gourley provide their eccentric take on emerging technology trends for 2019.
While cryptocurrencies are involved in only a small fraction of the estimated $2 trillion trillion in laundered money every year, its share is rising. Now, the DEA has stated that Mexican drug cartels are increasingly using money laundering and cryptocurrency channels based in Asia to move and “clean” their money.
Russia’s Gazprom is investing in cryptocurrency storage, projecting to open services in mid-2019. The energy giant’s banking division is partnering with a technology and crypto specialist format provide banks and wealth managers with a “fully integrated solution for the management of client portfolios across all asset classes including crypto-currencies.” The
“Even though cryptocurrency prices have fallen, cybercriminals could still take advantage of mining software, and not for the reasons you think. Instead of creating alternative currencies, cryptomining software could be used for a more sinister attack that could steal corporate secrets, according to Troy Kent, a threat researcher at Awake
Iranian access to the SWIFT financial system has now been cut off as part of US sanctions against the regime. While the SWIFT system is supposed to be an independent entity, the US has demonstrated its influence and control over it in this instance, leading critics to more actively support
Iran employs a variety of methods, including cryptocurrency transactions, to avoid international sanctions. In an October advisory statement, the US Treasury Department’s Financial Crimes Enforcement Network stated that “with the full re-imposition on November 5th of sanctions lifted under the Joint Comprehensive Plan of Action, FinCEN expects that Iranian financial
“A Canadian university was forced to close down its entire network due to the discovery that the system was being abused in order to mine for cryptocurrency. Nova Scotia’s St. Francis Xavier University uncovered the cryptojacking scheme on Thursday. IT staff at the academic institution found malicious software which had
Hackers used compromised Twitter accounts and Elon Musk’s fame to scam over $180,000 in bitcoin in a single day. The scam involved changing the names of verified Twitter accounts to “Elon Musk,” and tweeting about making “the biggest crypto-giveaway in the world.” Users who sent between .1 and 3 BTC
China sent a delegation of economic and financial advisors to study and analyze the Venezuelan Petro cryptocurrency for its potential usage in international exchange. On the Venezuelan side, the Petro has become one of the few sources of hope for the government and the economy that has largely been destroyed
“Passing your digital holdings on to loved ones after your death isn’t as simple as bequeathing cash or other property, though, particularly since wills aren’t designed for confidential information. Because a private key is all that’s necessary to transfer funds from a wallet, including it in your will might be a terrible idea. ‘I