This article states that the World Economic Forum shared that attackers managed to compromise 2 billion data records in 2017 and 4.5 billion in the first half of 108 blaming that Bitcoin could be a big part of it.
Ciphertrace recently reported a $3 billion loss due to cybercrimes and mentioned in their report that BTC still reigns the king of the dark web. What are your thoughts on this? Do you think cybercrime has increased because of crypto?
https://insidebitcoins.com/news/security-experts-tell-why-bitcoin-is-a-game-changer-for-cybercrime/235786Well it does make sense since the owners of Bitcoin is anonymous unless proven. Not to mention that you could create a lot of wallet now and use mixer in order to avoid getting caught. Fewer steps to transact money and doesn't need any documents to do any cross-border payments.
I don't really agree with you on this. In as much that Bitcoin is widely used by people on the darkweb, it is easier to track down all transactions on the Bitcoin blockchain network and authorities in charge of preventing cybercrimes can take advantage of this to catch people using it for criminal act on the darkweb
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Tracking transaction doesn't really guarantee the identity of the criminal. It's not easier, it's a tedious job to do since they have to find some connections to the owners wallet first, not to mention that there's thousands of wallets now at this point. It's harder for them to track criminals.
What if the criminal divide the money into hundreds of wallets and use a mixer? it would be hard for the government to track more transactions. Then what after? they need to prove that it was the criminal's wallet.
But of course the criminals are not stupid to just rely on Bitcoin for anonymity, they will use some other tools to stay hidden. Not to mention we have decentralized and unregulated exchange that criminals can use. Also, criminals can use p2p Bitcoin transaction to avoid withdrawing from banks.