{"id":28290,"date":"2020-09-07T14:29:23","date_gmt":"2020-09-07T11:29:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28290"},"modified":"2025-08-27T10:56:55","modified_gmt":"2025-08-27T07:56:55","slug":"researchers-describe-a-new-method-of-laundering-money-through-bitcoin","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/researchers-describe-a-new-method-of-laundering-money-through-bitcoin\/","title":{"rendered":"Researchers describe a new method of laundering money through Bitcoin."},"content":{"rendered":"<p>Researchers from the Blockchain Research Lab published a paper describing a growing method of laundering money through cryptocurrency. The mechanism has been named &#8216;exclusive mining&#8217;.<!--more--><\/p>\n<p style=\"margin: 12px auto 6px auto; font-family: Helvetica,Arial,Sans-serif; font-style: normal; font-variant: normal; font-weight: normal; font-size: 14px; line-height: normal; font-size-adjust: none; font-stretch: normal; -x-system-font: none; display: block;\"><a style=\"text-decoration: underline;\" title=\"View Exclusive Mining of Blockchain Transactions on Scribd\" href=\"https:\/\/www.scribd.com\/document\/475119921\/Exclusive-Mining-of-Blockchain-Transactions#from_embed\">Exclusive Mining of Blockchain Transactions<\/a> by <a style=\"text-decoration: underline;\" title=\"View ForkLog's profile on Scribd\" href=\"https:\/\/www.scribd.com\/user\/456422024\/ForkLog#from_embed\">ForkLog<\/a> on Scribd<\/p>\n<p><iframe loading=\"lazy\" id=\"doc_92959\" class=\"scribd_iframe_embed\" title=\"Exclusive Mining of Blockchain Transactions \" src=\"https:\/\/ru.scribd.com\/embeds\/475119921\/content?start_page=1&#038;view_mode=scroll&#038;access_key=key-bf0LTkZrqKTT9GLzDCHF\" width=\"600\" height=\"800\" frameborder=\"0\" scrolling=\"no\" data-auto-height=\"false\" data-aspect-ratio=\"0.7080062794348508\"><\/iframe><\/p>\n<p>According to the researchers, attackers ask miners to confirm transactions posted through private channels in exchange for a reward. Such a transaction remains untracked by many analytics systems, since it resembles a mining reward.<\/p>\n<blockquote>\n<p>&#8216;Masking monetary transfers as transaction costs allows evading taxes or laundering money,&#8217; the authors of the article note.<\/p>\n<\/blockquote>\n<p>Detecting instances of &#8216;exclusive mining&#8217; and proving criminal intent is difficult, because cryptocurrency mining is not illegal per se.<\/p>\n<p>Another way to profit from mining cryptocurrencies operates on the DeFi market and is called &#8216;vampire mining&#8217;. Its essence is that new decentralized projects &#8216;siphon&#8217; liquidity from more profitable protocols and transfer it to themselves.<\/p>\n<p>An example of &#8216;vampire mining&#8217; is the SushiSwap project, a fork of the Uniswap exchange.<\/p>\n<p>Its creators <a href=\"https:\/\/forklog.com\/en\/news\/in-uniswap-fork-800-million-of-assets-were-locked-three-days-after-launch\">distribute<\/a> SUSHI tokens among liquidity providers at 0.05% of the collected trading fees. 0.25% of the fees collected goes to them directly, while in Uniswap \u2014 0.3%. The tokens obtained can be traded on the market or used in governance voting.<\/p>\n<p>In early September, under market pressure, the token price <a href=\"https:\/\/forklog.com\/en\/news\/sushiswap-administrator-triggers-50-drop-in-token-price\">fell<\/a> by more than 50%.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Researchers from the Blockchain Research Lab published a paper describing a growing method of laundering money through cryptocurrency. The mechanism has been named &#8216;exclusive mining&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":28291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1154,1137,167],"class_list":["post-28290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-crimes","tag-cryptocurrency-mining","tag-research"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/28290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=28290"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/28290\/revisions"}],"predecessor-version":[{"id":28292,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/28290\/revisions\/28292"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/28291"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=28290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=28290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=28290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}