RATE Group | Bitcoin Remains Cybercriminals’ First Choice, But Privacy-Focused Alts Will Rise
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Bitcoin Remains Cybercriminals’ First Choice, But Privacy-Focused Alts Will Rise

19 Sep Bitcoin Remains Cybercriminals’ First Choice, But Privacy-Focused Alts Will Rise

Posted at 21:23h in Bitcoin News by

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Europol’s new cybercrime report has found that Bitcoin (BTC) remains the most popular form of crypto for illicit uses, but predicts a rise in the popularity of anonymity-focused altcoins such as Zcash (ZEC) and Monero (XMR). The report, the fifth edition of Europol’s Internet Organised Crime Threat Assessment (IOCTA) to date, was published yesterday, September 18.

According to Europol, even as Bitcoin’s market share dropped as low as “35 percent in early 2017,” it remained the most “commonly encountered” crypto in cybercrime investigations across the European Union.

Europol anticipates that while Bitcoin for now dominates the landscape, anonymity-focused altcoins that offer the protection of “stealth addresses” are likely to gain traction and potentially make “current [crypto] mixing services and tumblers obsolete.”

For example, among jihadist networks, Europol found that mass donations in the form of Zcash were popular among those who donated to campaigns in…

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