#BitcoinWithTariffs The misuse of cryptocurrency has evolved far beyond early darknet transactions and small-scale scams. As Andersen-Röed explained, criminal operations today are far more organized, global, and technologically advanced – leveraging crypto not just for fraud, but across a wide spectrum of illicit activity.

For example, criminals frequently route stolen funds through mixing services and other privacy-enhancing tools to obscure transaction trails. From there, they may attempt to cash out via high-risk exchanges, over-the-counter (OTC) brokers, or even accounts they’ve managed to open on legitimate, compliant platforms.

The head of Binance’s FIU unit pointed to the rise of large-scale scam call center operations in Southeast Asia, where crypto is routinely used to move defrauded funds. These scam networks often operate across borders and have, in some cases, been linked to human trafficking rings – with individuals forced into labor under false pretenses, then exploited to carry out fraud.

Ransomware attacks, meanwhile, are becoming more aggressive and better funded. Cybercriminals are targeting larger entities and demanding higher sums, with many recent cases involving ransom payments exceeding $1 million.

These developments underscore how crypto, while transformative, is being co-opted by increasingly strategic and well-funded adversaries