Criminals rarely use cryptocurrency

The fact that cybercriminals like to be paid in Bitcoin to unlock encrypted files or sell private information gives the impression that criminals must be major users of cryptocurrency. However, a new report from the European Commission suggests that the reality is very different. Criminal organizations rarely use cryptocurrency (or, as the European Commission calls it, virtual currency) for illegal activities, like financing terrorism and money laundering, because it requires a certain level of technical expertise that hampers adoption. The European Commission says that criminals have displayed "high intent" to use cryptocurrency in their activities, because it affords a certain… [Continue Reading]