Criminals No Longer Want to be Paid in Bitcoin

in bitcoin •  5 months ago

A recent report on cryptocurrency crime highlighted that when hackers demand money, Bitcoin is no longer the preferred digital currency. 

Here are the top 3 preferred cryptocurrency payment methods by cyber-criminals:

  1. Monero (44%)
  2. Ethereum (11%)
  3. Bitcoin (10%)

The reason is simple. Bitcoin is not very private. All transactions are visible to the public (even if the owners of the accounts are not easily known). With more regulatory focus requiring big trading exchanges to identify owners, tracing where money changes hands is becoming easier. The lure is quickly fading for illegal transactions as law enforcement can follow-the-money-trail.

Monero and other privacy designed coins, obfuscate both the owners of accounts as well as transactions, hence the rapid growth in preference by hackers.

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love the short and concise layout of the post. also, their preferred payment method seems reasonable

Wow. Who knew criminals were this smart?!

Very interesting.

The shell game continues...

Hi @mrosenquist definitely monero it's the coin i mean a good source of value and a good privacity in its blockchain. Regards

Privacy coins are good for hackers, businesses, safety.

Thanks for share this Post .
You have a new follower . Thanks