Research on Three types of Economic Crimes under Blockchain Technology and Countermeasures

Yiqun Yao (), Jiaxuan Zhang () and Wenqi Jing ()
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Yiqun Yao: Taiyuan University of Technology
Jiaxuan Zhang: Taiyuan University of Technology
Wenqi Jing: Taiyuan University of Technology

A chapter in Proceedings of the 2024 9th International Conference on Social Sciences and Economic Development (ICSSED 2024), 2024, pp 835-850 from Springer

Abstract: Abstract Currently, technology is thriving, and blockchain technology, as an emerging technology, is flourishing, demonstrating an extremely important position in the field of computer innovation. Various industries, especially the finance industry, are currently more closely integrated with blockchain technology, showing a trend towards “blockchain + “ development, and are being applied in more occasions and links. But everything has two sides. The characteristics of blockchain technology reflect the necessity and possibility of its application in the field of finance, but on the other hand, the loopholes and drawbacks caused by its characteristics also lay hidden dangers for illegal risks in blockchain financial activities. Many criminals use blockchain technology to rampant criminal behavior. Using virtual currency to carry out online pyramid schemes; Illegal fundraising through absorbing research and development investment and issuing virtual currency; Fraud under the guise of blockchain technology; Spread ransomware to claim Bitcoin and disrupt computer information systems; Using Bitcoin for cross-border currency evasion, concealing illegal assets, and so on. However, there is still a lack of regulatory and specialized laws and regulations in relevant departments in China, and there are still loopholes in network technology. We should improve and enhance it at the technical level and improve it at the regulatory system level.

Keywords: Blockchain crime; big data; virtual currency; criminal law risk (search for similar items in EconPapers)
Date: 2024
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DOI: 10.2991/978-94-6463-459-4_93

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