An Anatomy of Crypto-Enabled Cybercrimes

The authors thank David Simchi-Levi (editor), one anonymous associate editor, and two anonymous referees for their invaluable suggestions. This study has benefited from comments from Messod Daniel Beneish, Agostino Capponi, Tsafrir Livne, and Konstantin Sokolov as well as discussions at the Summer Institute in Digital Finance at Tsinghua University, Bank of Japan, Chinese Economist Society China Annual Conference, Blockchain & Impact Conference, 2024 European Financial Management Association Annual Meeting, Financial Econometrics Conference, Interdisciplinary Challenges in Financial Data Science Conference, Pan-Asian Digital-Economy Meeting, U.S. Federal Reserve Cyber Monitoring Community of Interest Conference, 17th Annual Conference on Asia-Pacific Financial Markets, European Securities and Markets Authority, 2022 New Zealand Finance Meeting, Fifth The University of Western Australia Blockchain and Cryptocurrency Conference, International Conference on Derivatives and Capital Markets, KAIST Digital Finance Conference, the Israel Money Laundering and Terror Financing Prohibition Authority Conference, U.S. Attorney’s Office of the Northern District of California/U.S. Department of Justice Fraud Section/National Cryptocurrency Enforcement Team Cryptocurrency Fraud Seminar, and the U.S. Treasury’s Office of the Comptroller of the Currency’s Symposium on the Implications of Financial Technology for Banking. The authors thank Ding Chou, Yining Duan, Peiyi Jin, Apoorva Narula, Tyler Parente, Xingbang Su, Yu Yan, and Claire Wilson for excellent research assistance. Z.-Y. Wu is thankful for Fox-IT technical support.