This Crypto Use Case Has Never Been as “Underrated” Due to…

4m
cryptonewmedia

Where Has All The Money Gone? Looking Into Crypto Projects Who Pay Token Holders » The…

4m
cryptonewmedia

Ethereum in a Brief Surge, Showing Signs of Strength

4m
coinidol

Ethereum in a Brief Surge, Showing Signs of Strength

4m
cryptonewmedia

The US Needs A Digital Dollar To Maintain Its Financial Values,...

22m
zycrypto

The Last Time This Trend Occurred, Bitcoin Rallied To $20,000. It’s Back Again

22m
zycrypto

Don’t ignore what is going on with Ethereum, analyst says as stablecoins erupt

28m
cryptoslate

This financial analyst expects a “very bullish” Bitcoin price in June for 4 key reasons

28m
cryptoslate

Seasoned vs. New Remote Workers |

40m
cryptonewmedia

The Big Four Are Gearing Up to Become Crypto and Blockchain Auditors

40m
cryptonewmedia

IMF Official Wants Private Companies and Central Banks to Jointly Promote Digital Currencies

1h
coinidol

Coinbase to Retroactively Airdrop OmiseGo Tokens to Ethereum Holders

1h
beincrypto

ViaBTC Group Announces Strategic Upgrade to Advance Innovation and Improve Customer Experience

1h
thebitcoinnews

Slack (WORK) Stock Jumped 7%, Price Target Raised to $37 from $32

1h
cryptonewmedia

This Crypto Use Case Has Never Been as “Underrated” Due to Twitter and Trump

1h
newsbtc

Coinbase acquire Tagomi in new announcement

1h
cryptodaily

Innovative Staking Introduced By Tachyon(IPX)

1h
bitcoinist

Kazakhstan to Promote Cryptocurrency Mining Institutionalization Bill

1h
coinidol

PPP changes pass House as small businesses hit first loan deadlines |

2h
cryptonewmedia

Bitcoin Google Interest Mimics $10K Price Run as ‘Halving Hype’ Fades

2h
cryptonewmedia

ASIC Repair Technician Certification Coming to the US

2h
cryptonewmedia

China Adds Cryptocurrency to Inheritable Assets

3h
coinidol

Interview With Nils Thomsen About How Lotto Nation is Revolutionising Online Lotteries With Blockchain

3h
nulltx

Trump on Vote by Mail, Poll Worker PPE, Naturalizations and More |

3h
cryptonewmedia

Top Countries That Tick All the Boxes

3h
cryptonewmedia


Dark web picks Bitcoin over other currencies, report

A recent cybercrime threat report released by the European law enforcement agency Europol suggests that the dark web prefers Bitcoin over any other currency, despite the fact that Bitcoin scams remain most vulnerable to detection.

If the dark web is the Amazon of illicit items, then Bitcoin is the driving force behind it. The breeding ground of illegal activities offers everything under the sun, from hacked subscription credentials, prepaid cards to guns, drugs, and fake money, and Bitcoin remains the most preferred mode of payment, owing to its popularity and awareness surrounding it. And while the darknet criminals are always on the lookout for ways to circumvent the law enforcement, it cannot seem to do away with the crypto king.

Europol is Europe’s backbone of law enforcement operations and an information resource of criminal activities. The Netherlands-based agency is committed to tackling cyber terrorism and attacks, among many other forms of illegal activities.

In its latest report entitled ‘Internet Organised Crime Threat Assessment 2019’, darknet criminals prefer to transact in Bitcoin even though using privacy-focused coins such as Monero may bring more security. The report cites that although the recent months have witnessed a noticeable shift from Bitcoin to privacy-oriented currencies, a large portion of the dark web still needs Bitcoin as the fuel to keep itself running.

The shift from Bitcoin to privacy-centered coins, although gradual, is imminent as criminals continue to be more circumspect than ever, the report states. Thus, Bitcoin’s reputation as the currency of the dark web could be short-lived.

Europol also estimates that over one billion dollars ($1 billion) worth of cryptocurrency has flown into the dark web so far and that Bitcoin phishing emails and ransomware attacks are the most popular forms of cybercrimes that rake in the much-needed capital for its survival.

According to the report, the global acceptance of virtual currencies coupled with growing advances in the field of artificial intelligence is making darknet sources a primary means of securing illegal goods.

Thus, as a recommendation, it proposes that law enforcement agencies, together with the judiciary, must collaborate to tackle, curtail, and raise awareness regarding identifying and tracking unauthorized transactions.

It adds that only when the law closely works with cryptocurrency-related businesses to understand the nature and scope of the activities involved, it can better resolve issues concerning money laundering and organized crimes.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments