Bitcoin is still the most preferred amongst cybercriminals, Europol reports

The report published by Europol on Internet Organized Crime Threats Assessment (IOCTA) claims that the cybercriminals' choice of cryptocurrency is bitcoin. An estimated $1 billion has been spent on the Dark Web this year alone. And bitcoin is the most frequently used cryptocurrency on the Dark Web. According to Europol, cybercrime must be approached in a holistic sense.

The recent report published by Europol on cybercrime claims that the cybercriminals prefer to deal in bitcoin over any other coin. According to the published report, an estimated $1 billion has been spent on the dark web this year so far. And the leading cryptocurrency was used most frequently.

The report also noted that the Monero is also another cryptocurrency that is highly used for trading, but criminals tend to use this coin more for hidden mining. Researchers found that there is an increase in single-vendor shops and smaller fragmented markets on Tor. The report advised law enforcement to tackle major crime-as-a service providers to curb down crime.

Europol believe that the ability to maintain an accurate real-time information position is necessary to enable law enforcement to tackle the dark web. Ransomware attacks and data compromise remain the prominent cyber threat tackled by European cybercrime investigators.

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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