Should Big Cryptocrime Sow Doubt in Crypto’s Safety?

 

The Feds just seized nearly $3.4 billion in stolen bitcoin from a cryptothief. This is clearly bad news for that thief, but it also begs the question: Is this a PR problem for the crypto industry? If you can steal billions in crypto assets, is the decentralized infrastructure really all that safe for companies to engage with? Should companies expect cryptocrime on their decentralized ledger of choice?

Crypto Explainer-in-Chief, Columbia Business School adjunct professor, and author of Re-Architecting Trust: the Curse of History and the Crypto Cure for Money, Markets and Platforms, Omid Malekan, says: take a pause. Don’t let cryptocrime deter you from seeing the value (and safety wins!) in decentralized finance.

Omid’s Thoughts

“Everyone’s heard the cliche that crypto is an enabler of illicit activity, and if all you do is read headlines like the one today that the Justice Department just recovered billions of dollars worth of stolen Bitcoin, then you might think that it’s true. But if you read past the headlines and look at the sophisticated tools that the government has developed to take advantage of unique features of crypto, like total transparency of every transaction, then you’ll see that increasingly.

It’s foolish to try to use Bitcoin for illicit activity because in many ways it’s easier for law enforcement to, quote unquote, ‘follow the money’ on the blockchain than it is through the traditional banking system. Project this forward a few years, assume that the government, with the help of private companies, will keep improving its ability to trace illicit activity through crypto, and it’s not unreasonable to assume that criminals will be more likely to use the existing banking system where trillions of dollars still get laundered every year, and the opacity makes it hard for the governments to stop.”

Follow us on social media for the latest updates in B2B!

Image

Latest

women empowerment
Creating a Playbook for Pro Athlete’s Families: How Ladies Playbook Champions Empowerment for Women Off the Field
October 7, 2025

In today’s world of rapid transitions—career moves, geographic relocations, and shifting personal identities—community has become more than a comfort; it’s a lifeline. Studies show that strong social ties can increase well-being, reduce stress, and even improve physical health. For those navigating high-pressure environments, like the partners of professional athletes, having access to a supportive,…

Read More
The Big Beautiful Bill Solar’s Make-or-Break Moment
The Big Beautiful Bill Solar’s Make-or-Break Moment
October 6, 2025

In this episode of The FSG Podcast, host Daniel Litwin, B2B Media Producer, sits down with Michael Cataline, Commercial Solar Projects Lead at FSG, to unpack one of the most talked-about policy shifts in recent energy history — the Big Beautiful Bill. Backed by the Trump administration, this legislation is poised to reshape the commercial…

Read More
Bitcoin
Alts Innovators: Joseph Kelly on Bitcoin and Cryptocurrency
October 6, 2025

After a year that put digital assets back in the headlines, long-term Bitcoin adoption is quietly compounding beneath the noise. Unchained reports helping “many thousands” of clients secure roughly $12B in Bitcoin via collaborative custody, while on-chain “HODL waves” data shows that ~60% of all Bitcoin typically hasn’t moved in a year or more,…

Read More
startup accelerator
Why Culture, Conscious Capitalism, and Purpose Beyond Profit Are Essential to Startup Accelerator Scalability
October 6, 2025

As the startup ecosystem continues to evolve, pitch competitions and startup accelerators are shaping the way founders connect with investors and communities. According to the Global Entrepreneurship Monitor data, U.S. entrepreneurial activity climbed to a record 19% in 2024—the highest level ever reported—highlighting just how fertile the ground is for platforms like CodeLaunch. This…

Read More