Grayscale's owner saw spike in fee income after crypto mixer Railgun used for money laundering

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Cointime2024/10/31 10:44

By:Cointime

According to Forbes, Grayscale's owner Barry Silbert saw an increase in fee income after its crypto mixer Railgun was allegedly used by the North Korean hacker group Lazarus to launder stolen crypto. DCG, the owner of Grayscale, received $436,906 in fees from June 2023 to the present. DCG invested $10 million in Railgun in 2022 and received 5 million RAIL tokens in return, which are now worth $3.9 million. There are concerns about DeFi compliance and balancing privacy with the need to keep bad actors off the system. Railgun is partnering with Chainway Labs to improve compliance through a new functionality called Proof of Innocence, but experts warn that bad actors can easily outsmart such solutions.

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