Despite being up close and personal with crypto’s dark underbelly, Todd Lenfield believes narratives about the prevalence of crime in the industry are overblown.
, which aims to examine, challenge and demystify the ideas behind the emerging industry by speaking to the people who live and breathe it.I’ve always had an unhealthy interest in finance – I’ve been trading FX, CFDs, stocks and options for 20-plus years as a side thing because I like numbers. From a work perspective, I started studying IT a long time ago, got a role in intelligence in Australia, and spent eight years working as a network engineer.
If you look at the ANZ stablecoin transfer, for instance, people were really excited by the fact that they could move $30 million in 30 minutes. But if you flip it on its head and say, “well, someone stole money and moved $30 million in 30 minutes” – that’s just crazy. It’s those sorts of situations where you need to have that active investigation.
With something like TornadoCash or Monero, how hard to track are they really? Do they make it much harder for law enforcement? The smart contract components and what they can be applied to is remarkable technology, things like proving where your wine came from, and mitigating counterfeiting. Provenance is a way NFTs can be utilised across the globe.