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Here’s how hackers are using mining pools as mixers
In the fast-paced world of cryptocurrencies, where innovation and illicit activities coexist, the need for effective measures to combat money laundering is paramount. A recent report by blockchain analytics firm Chainalysis sheds light on the alarming trend of ransomware attackers using crypto mining pools to launder their ill-gotten gains. In response, a new reorganization plan has been proposed, aiming to address the claims of retail borrowers through a strategic set off treatment. This article explores the concept of set off treatment and highlights the implications of using crypto mining pools for money laundering.
Understanding Set Off Treatment
Set off treatment is a financial strategy that involves comparing losses against profits in a given year. This approach allows losses that cannot be offset against income to be carried over and offset against future income. The proposed reorganization plan suggests leveraging set off treatment to deal with the claims of retail borrowers effectively. By applying this treatment, losses incurred by borrowers can be offset against their profits in subsequent years, providing them with a fair chance to recover financially.
