Chainalysis to Start Covering Dogecoin on Its Reports

dogecoin futuristic future room with neon lighting cryptocurrency concept 3d illustration scaled

During the announcement, Chainalysis quoted the volume figures that Dogecoin has been printing so far this year. Also, the firm says that it has naturally led to an increased usage of the meme coin for criminal purposes.

“We’ve seen several thefts and scams involving Dogecoin this year, including one giveaway scam that netted fraudsters over $40,000 after they promoted a bogus, Elon Musk-led initiative to pay users 10x back on any cryptocurrency sent to an address they provided, using hacked Twitter accounts to promote the scam following the Tesla CEO’s hosting appearance on Saturday Night Live. Dogecoin has also become popular in high-risk jurisdictions like Iran,” Chainalysis said. Furthermore, the analytical company commented that Dogecoin had become a “frequently requested” crypto from customers to cover within their reports.

Fake Giveaway with Dogecoin

The giveaway scam mentioned by Chainalysis occurred in May when cybercriminals took advantage of Musk’s appearance on Saturday Night Live to launch such fraudulent giveaway campaign via Twitter. Reports noted that hackers netted around $100,000 in Bitcoin (BTC), Ethereum (ETH), and Dogecoin. Unfortunately, victims fell prey to the scam by sending small amounts of the crypto, as the fraudsters promised to return ten times the amount invested in the giveaway.

The announcement comes after the blockchain firm secured $100 million in the latest Series E funding round led by the US-based company, Coatue. In addition, Chainalysis’ existing investors, including Benchmark, Accel, Addition, Dragoneer, Durable Capital Partners, and 9Yards Capital, also increased their investment in the blockchain analysis firm.

Ronnie Huss

Ronnie Huss

Leave a Reply

Your email address will not be published. Required fields are marked *

Share:

Share on telegram
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Related Posts

bitcoin
Bitcoin (BTC) $ 68,589.38
ethereum
Ethereum (ETH) $ 3,781.71
tether
Tether (USDT) $ 0.999832
bnb
BNB (BNB) $ 597.27
solana
Solana (SOL) $ 168.92
staked-ether
Lido Staked Ether (STETH) $ 3,781.04
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.524950
dogecoin
Dogecoin (DOGE) $ 0.163097
cardano
Cardano (ADA) $ 0.450788
the-open-network
Toncoin (TON) $ 6.51
shiba-inu
Shiba Inu (SHIB) $ 0.000027
avalanche-2
Avalanche (AVAX) $ 36.85
chainlink
Chainlink (LINK) $ 18.39
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 68,526.36
tron
TRON (TRX) $ 0.111869
polkadot
Polkadot (DOT) $ 7.08
bitcoin-cash
Bitcoin Cash (BCH) $ 469.37
uniswap
Uniswap (UNI) $ 10.94
near
NEAR Protocol (NEAR) $ 7.44
matic-network
Polygon (MATIC) $ 0.705561
litecoin
Litecoin (LTC) $ 85.40
pepe
Pepe (PEPE) $ 0.000014
internet-computer
Internet Computer (ICP) $ 12.25
fetch-ai
Fetch.ai (FET) $ 2.25
leo-token
LEO Token (LEO) $ 5.97
dai
Dai (DAI) $ 1.00
wrapped-eeth
Wrapped eETH (WEETH) $ 3,930.97
ethereum-classic
Ethereum Classic (ETC) $ 30.22
aptos
Aptos (APT) $ 9.35
render-token
Render (RNDR) $ 10.21
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,730.84
hedera-hashgraph
Hedera (HBAR) $ 0.102120
dogwifcoin
dogwifhat (WIF) $ 3.47
cosmos
Cosmos Hub (ATOM) $ 8.61
arbitrum
Arbitrum (ARB) $ 1.15
kaspa
Kaspa (KAS) $ 0.139356
mantle
Mantle (MNT) $ 1.01
immutable-x
Immutable (IMX) $ 2.22
filecoin
Filecoin (FIL) $ 5.87
crypto-com-chain
Cronos (CRO) $ 0.117469
stellar
Stellar (XLM) $ 0.106732
ethena-usde
Ethena USDe (USDE) $ 1.00
the-graph
The Graph (GRT) $ 0.310452
first-digital-usd
First Digital USD (FDUSD) $ 0.999987
blockstack
Stacks (STX) $ 1.98
arweave
Arweave (AR) $ 43.49
bittensor
Bittensor (TAO) $ 407.17
okb
OKB (OKB) $ 45.76
optimism
Optimism (OP) $ 2.50