The Underworld Criminal Moves From Bitcoin To Other Currencies

Bitcoin loses excellence 1

Bitcoin loses excellence 1

Bitcoin loses its excellence with some of the older fans and fanatics – criminals – creating new virtual coins.

Data protection points, such as the monster designed to prevent detection, have increased faster in the last two months, since law enforcement authorities use software tools to track people with bitcoins. A large number of analyst firms, such as Chainalysis, have improved the identification of crime-related or money-laundering digital congestion, currency exchange notices, and traditional money conversion.

The European Union law enforcement agencies warned Euro-pol three months ago and wrote in its report that “other critical currencies such as Moneron Island, ethereum and Zcash are popular across the country in digital.” Online criminals use redundancy programs to block victim’s computers until theymake payments, asking them for the currency. On December 18, hackers attacked 190,000 WordPress sites every hour to make them monsters, Word-fence said the security company Wordfence.

Ransomware’s attacks on Monon Island are now “a favourite, if not a favorite” said telephone interviews with a security firm based on Matt Suiche, founder of Dubai Technologies. Moneron Island is four times the value of $ 349 in 2017 two months ago, according to the some new currencies that have grown faster than Bitcoin, the world’s most valuable digital currency.

The Bitcoin Universe

For the Monster Criminals, it’s understandable why the technology behind bitcoin can handle them.Named block chain, a register of digital record books whose addresses send and receive events, including exact times and values ​​- great data to be used as evidence. Link the address to the crime and watch carefully the Bitcoin universe and see that the funds disappear and appear elsewhere.

Must Read about beginners guide to Bitcoin

Sleuth computers have developed databases and technologies to make such data potentially harmful. Explain that coffee in Berkeley has a specific Bitcoin address, and the victim uses a wallet that transfers the same amount every morning at 9 am. The police can come and be arrested.

As of 2014, the monkeys are very different. It encrypts the recipient’s address in its block chain and creates a false address to hide the actual sender. It also includes the number of events. This technique is so powerful that software, which mean criminals suspected of being tickets, nowadays represent almost everything, converted to Moneron Island or beyond the main risk, said Pawel Kuskowski, Coinfirmin CEO, who will help the exchange and other companies avoiding money infected. It’s only about 10% of bitcoin, he said.

That’s what we deal with “high risk”, it’s an unnamed source, “he said in a telephone interview. How will
you prove that these funds are not from illegal sources? ”


Protection for privacy

Monero is one of many data protection devices, each with a variety of security features. Boss of the challenger, Zcash – who is unknown has a significant criminal impact – can provide greater protection for privacy. Instead of giving a false address to hide the sender, it encrypts its real address. This makes it impossible to identify the sender by finding the correlation at the address used in various transactions to identify the actual flaws for monotony.

However, researchers at Princeton University have recently developed tools to help them analyse Zcash events at least a little – but they can not break that monster. And Zcash’s high-security feature can not be used on disposable fire extinguishers, the favourite of criminals who want to remain anonymous.

The underlying developers say they are only making money protecting privacy. Most people use it right – “they just do not want others to know how to buy coffee or a car, “said Riccardo Spagni, a nuclear developer in telephone interviews.

“As a community, we do not support the use of criminal giants, “Spagni said. “If you have a decentralised currency, not to prevent someone from using it, I can imagine that monero offers great benefits to criminals with bitcoin, so they will use the monster.”

Utility “Too

But criminals may be only a fraction of the monitors, analyst Lucas Nuzzi, who offers research to institutional investors.

“Like any disruptive technology, many of the first use cases revolve around unauthorised activities, “he wrote via e-mail. But when an ordinary person is concerned about privacy and security, “this currency is beneficial, only in the form of trading illegal goods.”

Author: Yogesh Prasad

Information Security Professional | Cyber Security Expert | Ethical Hacker | Founder – Hackers Interview

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