Europol: Bitcoin is used to pay C2C for most online crimes

 Europol: Bitcoin is used to pay C2C for most online crimes

According to Europols report The Threat Assessment of Internet Organized Crime 2019, Bitcoin is still the preferred encryption currency for cyber criminals.

According to the Europol report, encrypted currencies such as Bitcoin play an important role in the grey economy and are used to pay for most online crimes (C2C). Examples of specific situations in which criminals use encrypted currency attributes include extortion software, DDoS extortion, encrypted hijacking and covert-net markets. Online fraudsters are increasingly shifting from traditional payment to Bitcoin. The report mentions that cybercriminals also use Monero, mostly involving encrypted hijacking. With the entry into force of the fifth EU Anti-Money Laundering Directive (AMLD5) by the end of 2019, Europol expects that users of encrypted currencies wishing to protect their financial privacy will turn to peer-to-peer trading systems.

New Beijing News reporter Zhang Shuxin Chen Peng

Source: Qiao Junyi_NBJ11279, responsible editor of Beijing News