According to a Europol, Bitcoin is still the favorite cryptocurrency on the Dark Web. However, those trying to cover their tracks are slowly learning to use alternatives that focus more on privacy .
“While we have previously reported a small shift towards cryptocurrencies such as Monero, Bitcoin remains the number one currency, both for legal and criminal use,” Europol says in its latest assessment of online organized crime.
Europol points out that Bitcoin's prevalence in the Dark Web economy is a consequence of its familiarity with the customer base, especially in illegal online markets.
More specifically, ransomware attacks continue to use Bitcoin almost exclusively to extort money from their victims, and according to Europol, these attacks are the most significant threat facing the internet today.
Hard Fork has previously reported on several ransomware attacks that demanded ransoms in Bitcoin to restore victims .
Authorities, however, have noticed a more “strong shift” towards cryptocurrencies that are more focused on privacy and expect this trend to continue as criminals become increasingly security-.
“The main developments regarding this trend are observed in Darknet markets, some of which also accept Monero or in some cases use it exclusively,” Europol added.
