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What happens when someone dies with cryptocurrency assets but no one can find the keys? Is cryptocurrency just a modern version of the "wooden nickel" scam? How are sophisticated criminals using digital currency to pull off multi-million dollar heists—and why is 2025 shaping up to be the most dangerous year yet for crypto investors?
Former federal prosecutor Seth Goertz pulls back the curtain on the mysterious world of cryptocurrency, offering rare insights from his extensive experience investigating financial fraud and cybercrimes. This fascinating conversation takes us from the practical headaches facing probate attorneys dealing with crypto assets to the sophisticated "pig butchering" schemes that have become one of the FBI's most concerning fraud trends.
And the stakes have never been higher. With over $2.17 billion stolen from cryptocurrency services in just the first half of 2025, this year has already surpassed the total losses of 2024. The DPRK’s $1.5 billion hack of ByBit—the largest in crypto history—has sent shockwaves through the industry. Meanwhile, personal wallet compromises now account for nearly a quarter of all stolen funds, and violent “wrench attacks” are on the rise, often timed with Bitcoin price surges.
Gertz explains the fundamental tension at the heart of cryptocurrency: created as "a civil libertarian dream scenario" to exist outside traditional finance, crypto enthusiasts now want integration with mainstream financial systems—but without the full regulatory burden. The result is a confusing landscape where stablecoins present themselves as safe investments while lacking the protections of traditional banking.
You’ll learn why cryptocurrency provides “an exponential ability to obfuscate funds,” making it the preferred tool for global money laundering, how the new Genius Act attempts to regulate stablecoins, and why these efforts may be mere “half measures.” We also explore how laundering behavior is evolving, with criminals now leaving billions in stolen crypto on-chain, and how regional trends are shaping the global threat landscape.
Whether you're curious about blockchain technology, considering a crypto investment, or simply want to understand the legal implications of this rapidly evolving field, this episode provides essential context from someone who's seen the industry from all angles. Subscribe now, share with friends considering crypto investments, and let us know your thoughts about the future of digital currency regulation.