Europol’s latest research, called the Organized Crime Online Threat Assessment, shows how thieves’ use of Bitcoin is changing. the report He talks about the use of stablecoins like Tether (USDT) and Bitcoin in illegal activities, how Monero is becoming more popular for private transfers, among other key findings.
Bitcoin: The Cybercrime Boss?
Europol study This highlights how unlikely it is that Bitcoin’s importance in cybercrime will change anytime soon. Bitcoin’s proven popularity and the wide range of exchanges and services that support it make it a constant tool for criminals.
But law enforcement agencies are not sitting idly by. By using the blacklisting features of stablecoins, authorities have been able to freeze suspicious funds, thus demonstrating a proactive strategy in combating crypto-related crimes.
Monero: The Dark Web’s New Favorite Currency?
Although Bitcoin remains the most widely used cryptocurrency, Monero’s appeal among hackers is notable. For anyone trying to hide their financial activities, Monero’s design emphasizes anonymity and privacy. Unlike Bitcoin’s open ledger, Monroe It makes it difficult for legal authorities to track illegal activities by obscuring transaction data using sophisticated encryption methods.
IOCTA said that the unique qualities of Monero make it ideal for covering up illicit activities. Its hidden addresses and confidential transactions allow fraudsters to stay hidden. Monero is often used to purchase illegal goods online. Dark Webaccording to Europol, which reinforces its status as a tool of crime.
Monero is highly regarded in legal, privacy-oriented financial transactions even as it is controversially used in criminal operations. This dual character underscores how difficult it is to navigate privacy-oriented cryptocurrencies in the legislative landscape. Law enforcement agencies must strike a balance between respecting people’s financial privacy rights and the need to combat crime.
Image: Politico
Other major discoveries
In its main results, Europol It has been discovered that daily cyber attacks target millions of EU citizens and small and medium-sized businesses. Criminals make money through phishing, investment fraud and internet exploitation. And with the development of exchange-traded funds, new clients may fall into the trap.
The report also revealed that hackers are getting smarter and using AI to make operations run more smoothly. AI-powered deepfakes and automated bribery systems are also making it extremely difficult for authorities to pinpoint criminals.
Europol recommends improved public-private sector cooperation to address these issues. The organization advises law enforcement agencies to train more people on blockchain technology and to work more closely with blockchain analysis firms. These measures will equip law enforcement agencies with the tools and information they need to combat Bitcoin crime in an evolving environment.
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