Report: Bitcoin remains the preferred cryptocurrency for cybercriminals

On October 12th, according to a recent report by Europol, Bitcoin remains the preferred cryptocurrency for cybercriminals. While tokens such as Monero attempt to be attractive to focus on providing the highest possible level of privacy, these alternative cryptocurrencies do not seem to compete with Bitcoin in key areas such as network effects, brand recognition and general familiarity. According to the report, “Bitcoin is still the most commonly used currency and is considered to be the result of the familiarity of the customer base.” The Block’s recent research also found similar conclusions, with about 93% of the 31 dark net markets analyzed. The web market accepts bitcoin. With the EU's fifth anti-money laundering directive (AMLD 5) related policies in effect by the end of 2019, Europol expects that cryptocurrency users who wish to protect their financial privacy will switch to a peer-to-peer trading system.