A new form of manipulation is spreading across the globe, with the anonymity and convenience of cryptocurrency being used to fund electoral disinformation campaigns.
As major infrastructure providers begin to accept this digital currency, the spread of misinformation has received an unprecedented boost, posing a direct threat to electoral integrity and the democratic process.
Exposing the spread of false information and "donations" about cryptocurrency
A new report from blockchain analysis firm Chainalysis reveals the key role that cryptocurrencies play in funding election disinformation campaigns. This finding is not only shocking, but also has far-reaching implications for how people access and evaluate online election information.
Chainalysis researchers dug deeper into how bad actors are using digital currencies to support their operations. The report noted that some websites dedicated to spreading disinformation, such as SouthFront, are being funded by cryptocurrency donations. SouthFront is a Russian media outlet sanctioned by the U.S. Treasury Department for spreading disinformation during the 2020 U.S. presidential election.
The report mentioned that someone sent $2,700 worth of cryptocurrency to SouthFront, which shows the direct role of cryptocurrency in funding the spread of false information. More worryingly, some donors not only support one false information spreader, but also provide funds to multiple similar organizations. For example, one donor was found to send Bitcoin to SouthFront and an organization suspected of being linked to extremist donors at the same time.
“Cryptocurrencies, like other tools, are used to support global influence operations,” said Valerie Kennedy, director of investigations at Chainalysis. She stressed that such operations have become easier to carry out with the emergence of more options on the clear and dark webs.
This phenomenon not only reveals how disinformation spreaders use cryptocurrencies to evade regulation, but also highlights the role of cryptocurrencies in funding illegal activities. As the election season approaches, this issue becomes particularly important and requires the joint attention and response of lawmakers, regulators and the public.
Cryptocurrency fuels the spread of shady services
Chainalysis’ report reveals a stark reality: cryptocurrencies are not only used to directly fund false information, but are also used to purchase a range of shady services that help disinformation makers expand their influence online.
The report mentioned that these actors used cryptocurrency to purchase fake social media accounts and phone numbers to disguise themselves as ordinary users and spread their false stories. The scale of this practice is shocking! For example, the Bitcoin transaction volume of a service provider that provides phone numbers alone reached $7.7 million, which shows how large the transaction volume of fake phone numbers is.
In addition, some websites offer lax hosting services with little censorship of content. Some of these websites, which accept Bitcoin payments, even leaked emails from Hillary Clinton’s campaign in 2016, facilitating the spread of fake news.
Even more worrying is the rise of "bot farms," platforms that sell stolen or fake social media accounts in bulk. One such site, Ubar Store, claims to have fulfilled more than 10,000 orders and accepts cryptocurrency payments. This proliferation of fake accounts makes it easier for false information to be accepted and spread online.
These findings highlight the role that cryptocurrencies play in the spread of false information and the threat this phenomenon poses to the integrity of elections. As technology continues to advance, ensuring the authenticity of information and the security of networks has become a pressing global issue that needs to be addressed.
Cryptocurrency and the challenge of false information in the 2024 election
As the 2024 US election approaches, the role of cryptocurrency in the election has become increasingly prominent, and it has become a new favorite for those who spread false information. This phenomenon is not only worrying, but also a catalyst for social division.
The Chainalysis report pointed out that although it is difficult to accurately count, cryptocurrencies play an "important role" in funding false propaganda activities. Its anonymity and ease of cross-border transfer make it an ideal tool for criminals to spread false information.
Recent events, such as the attempted attack on former President Donald Trump, have sparked the spread of numerous conspiracy theories, making how cryptocurrencies are used to spread misinformation an issue that must be closely watched as the election approaches.
For voters at large, this means that we need to be more cautious when browsing information online. The popularity of a story is no guarantee of its authenticity. We need to develop critical thinking, distinguish between truth and falsehood, and avoid being misled by false information.
At the same time, this also sounded the alarm for lawmakers and technology companies. They need to recognize the role of cryptocurrency in the spread of election false information and consider how to incorporate it into the overall strategy to combat false information. This is not only a technical challenge, but also an urgent need to maintain democratic health and social stability.
In this era of information explosion, it is our common responsibility to ensure the fairness and transparency of elections and protect voters from false information. The double-edged sword nature of cryptocurrency requires us to be vigilant about the risks it may bring while enjoying the convenience it brings.
Conclusion:
Chainalysis' latest report reveals the new role of cryptocurrency in the spread of electoral disinformation, a finding that serves as a wake-up call for regulators around the world. As the anonymity and convenience of cryptocurrency are abused to manipulate election results, we must strengthen technical regulation and legislative measures to ensure the fairness and transparency of elections.
In the face of this challenge, regulators need to take decisive action and formulate effective policies to limit the use of cryptocurrencies in illegal activities. At the same time, the technology community should also develop more advanced tools to identify and block the spread of false information. As the US election season approaches, ensuring the authenticity of information and the security of the network has become a global issue that needs to be addressed. Global governments and regulators must work together to protect citizens from the erosion of false information. #加密货币 #虚假信息 #选举安全 #Chainalysis报告 #信息操纵
