Chainalysis decides to start making reports on Dogecoin (DOGE) as well

Chainalysis decides to start making reports on Dogecoin (DOGE) as well
фото показано с : invezz.com

2021-8-11 15:25

Dogecoin (DOGE/USD) has impressed a lot of people earlier this year when it skyrocketed to being one of the largest cryptocurrencies by market cap. Its price action made it one of the best performers of the year, if not the best one.

While its price has receded quite a bit since reaching its peak, the impact is still strongly felt, and many are now keeping a close eye on the first memecoin. So much so, in fact, that Chainalysis — a blockchain data platform headquartered in New York — recently announced that it plans to include DOGE in its crypto reports from now on.

DOGE attracted the eye of online criminals

While the coin’s popularity has caught the attention of some high profile individuals, specifically, Elon Musk — it didn’t go unnoticed by criminals, either. Chainalysis itself noted this, saying that there has been an increase in the coin’s use for criminal purposes. It reported seeing a number of DOGE-related thefts and scams, including even a giveaway scam that allowed scammers to gather up over $40,000.

Fraudsters impersonated Elon Musk, and they offered to pay users 10x back on any amount of DOGE that users send to the address they provided. They even promoted the scam via hacked Twitter accounts, all of which happened soon after Musk referenced Dogecoin during his appearance on Saturday Night Live back in May.

Furthermore, Chainalysis said that DOGE also started seeing a massive amount of use in high-risk jurisdictions, with Iran being the prime example. In addition to all of that, the company simply decided to start reporting on DOGE because their community started requesting it.

With Dogecoin’s popularity and adoption also came great misuse, which is not unheard of. It happened to many other major and popular cryptocurrencies, with Bitcoin still being the most commonly misused one. This misuse of digital currencies is one of the reasons why many claim that regulations are necessary in order to increase investors’ safety and security of their funds.

The post Chainalysis decides to start making reports on Dogecoin (DOGE) as well appeared first on Invezz.

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Two crypto experts discussed crypto and whether ‘The Musk Effect’ is real

About a week and a half ago now, Elon Musk, the CEO of Tesla, and one of the wealthiest individuals in the world appeared on SNL, where he referenced his favorite crypto, Dogecoin (DOGE/USD). Two days later, Musk’s company, Tesla, announced that it will no longer accept BTC payments for electric cars due to the […] The post Two crypto experts discussed crypto and whether ‘The Musk Effect’ is real appeared first on Invezz.

2021-5-19 10:45


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