Was Sutherland right? An analysis of cryptocurrency offenders

Abstract

Purpose The purpose of this study is to examine the applicability of conventional criminological theories to white-collar offenders involved in cryptocurrency-related market manipulation, specifically pump-and-dump schemes. Using Sutherland’s differential association (DA) framework as a theoretical foundation, this research tests whether demographic and theoretical factors – such as self-control, DA, anomie and strain – predict illegal financial behavior in emerging digital markets. Design/methodology/approach Survey data from a national sample of US adults on the promotion of cryptocurrencies for financial gain were analyzed using t-tests and regression models. Findings The findings of this study suggest that traditional theories of crime, including DA, anomie and strain, lose predictive significance when demographic variables are considered. High-income, male and younger individuals were most likely to engage in cryptocrime in general. Overall, the results of this study highlight the complexity of white-collar criminality in digital spaces and suggest that financial and demographic factors outweigh conventional criminological theories when predicting involvement in cryptocrime. Originality/value This paper considers early notions of white-collar crime against modern online financial crimes. The authors addressed the intersection of criminological theory and modern cryptocurrency crime.