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!



Listen Carefully, Respond Creatively
April 12, 2024

In this captivating episode of the Fans First series, Jesse Cole, the mastermind behind the Savannah Bananas, delves into the transformative business philosophy of “listen carefully, respond creatively.” This approach has not only skyrocketed the Savannah Bananas to fame but also serves as a universal blueprint for revolutionizing customer service and engagement across all sectors. […]

Read More
Stacey Childress, Senior Advisor at McKinsey and Company, discusses higher ed
Bold Measures are Needed to Improve Investment in Higher Education
April 12, 2024

The stakes for higher education have never been higher as the educational landscape sees rapid evolution. As universities and colleges grapple with the dual challenges of technological disruption and increasing demands for accessible, quality education, the question of how best to implement investment in higher education becomes a priority. This debate has been ignited […]

Read More
wake up healthy
Hey, it’s 9 am… Wake up Healthy with 9amHealth!
April 12, 2024

Healthcare Rethink host Brian Urban explores ways to wake up healthy and stay healthy with his guest, Dr. Avantika Waring, MD, the Chief Medical Officer, at 9amHealth. This episode delves into the transformative approach to healthcare delivery championed by 9amHealth. Dr. Waring’s journey from a humanities student with a love for French to a […]

Read More
public safety and security
Strengthen Public Safety and Security: Modernize Radio Communication for Better Field Response
April 11, 2024

The importance of radio communication within public safety and security operations remains unbeaten in an era dominated by digital transformation. This medium, essential for over a century, continues to be the lifeline for responders on the front lines. From ensuring the safety of field agents to facilitating real-time critical information flow and enhancing situational […]

Read More