La Crypto Nostra: How Organized Crime Thrives in the Era of Cryptocurrency

February 4, 2019

The advent of Bitcoin and other forms of cryptocurrency has left a permanent mark on the world as we know it, regardless of what percentage of the populace will ever touch or comprehend cryptocurrency in its lifetime. Thanks to the advent of blockchain technology, cryptocurrency has given rise to expedited international exchanges, increased protection of consumer identity, and secured methods for logging transactions. But cryptocurrency’s nebulous nature makes it inherently vulnerable to a slew of hacks, cyberattacks, and run-of-the-mill theft. Moreover, its indeterminate qualities make cryptocurrency incredibly difficult for federal law to wrangle. But, perhaps most chillingly, the rise of cryptocurrency has given organized crime a new look, swapping society’s Kuklinskis1 and Capones2 for pseudonymous sleuths and computer-clad criminals, and underground operations for “dark web” schemes that transcend international borders at the click of a button. This Recent Development will examine how organized crime leverages cryptocurrency, and how U.S. federal law can adapt to stop it.

  • Author: Chelsea Pieroni
  • Cite: Chelsea Pieroni, La Crypto Nostra: How Organized Crime Thrives in the Era of Cryptocurrency, 20 N.C. J. L. & Tech. 111 (2018), //ncjolt.org/wp-content/uploads/sites/4/2019/02/PieroniFinal.pdf.
  • PDF: //ncjolt.org/wp-content/uploads/sites/4/2019/02/PieroniFinal.pdf
  • Volume: Volume 20, Online Edition