Bitcoin News

Bitcoin remains cybercriminals, but privacy-focused alts will be rising

A report has found that Bitcoin remains the most popular form of crypto for illegal uses, but it predicts a rise in the popularity of anonymity which is focused altcoins. It is found on Europol’s new cybercrime. The fifth edition of Europol’s Internet Organized Crime Threat Assessment t was published on September, 18.

Bitcoin’s market share has dropped as low as 35 percent in early 2017. It is according to the Europol.

Europol anticipates that Bitcoin, for now, dominates the landscape, anonymity which focused altcoins that offers the protection of stealth addresses are likely to gain traction and make current mixing and tumblers obsolete.

Europol found that mass domination is in the form of Zcash were popular those who donated to campaigns in Islamic State-affiliated websites. It is although noted that the use of crypto by terrorist groups has far been limited to the low- level transactions. It doesn’t account for a significant share of their funding stream.

None of the attacks carried out on European soil appear to have been funded via cryptocurrencies despite the clear potential.

Europol already got such type of warnings like hacks, money laundering, and terror financing.

This report notes that crypto has for several years offered the advantage of a decentralized infrastructure and pseudonymous transactions for criminal laundering proceedings.

Europol argues viewed by criminals as a soft target in comparison with the corporate banks or other traditional institutions. The Internet Organized crime Threat Assessment (IOCTA) outlines a wide range of crypto-related phenomena on the cybercrime landscape, which includes exchanges or crypto depositaries.

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