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Europol: Bitcoin is ‘most abused’ crypto by criminals

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The Europol Internet Organized Crime Threat Assessment recently highlighted that Bitcoin remains the most frequently exploited cryptocurrency in criminal activities. Despite Bitcoin’s dominance, there is a growing trend in the use of alternative cryptocurrencies, including stablecoins and privacy-centric coins like Monero, which are gaining popularity among cybercriminals due to their unique features.

Key Points from the Report

  1. Bitcoin’s Continued Use in Cybercrime:
    • Predominant Cryptocurrency: Bitcoin remains the most commonly used cryptocurrency in illegal activities, including fraud and cybercrime. It is often converted into stablecoins like Tether (USDT) for stability. The report notes that the Tron blockchain’s low transaction fees have made it a preferred platform for USDT transactions.
    • Stablecoins in Crime: Stablecoins, particularly those with blacklisting capabilities, provide law enforcement with the ability to freeze suspicious funds, adding a layer of security and traceability in combating financial crimes.
  2. Rise of Monero and Privacy Coins:
    • Monero’s Popularity: Monero (XMR), known for its strong privacy features, is increasingly favored by criminals seeking anonymity. Unlike Bitcoin, which operates on a transparent blockchain, Monero employs advanced cryptographic techniques, such as ring signatures, stealth addresses, and confidential transactions, to obfuscate transaction details.
    • Usage in Illicit Activities: The anonymous nature of Monero makes it a preferred choice for illegal activities, including ransomware payments and dark web transactions, where the privacy of users is paramount.
  3. Evolving Money Laundering Techniques:
    • Traditional and Modern Methods: The report also discusses evolving money laundering strategies. While traditional methods like using money mules and international bank accounts persist, newer tactics include the use of encrypted messaging apps for cash-to-crypto exchanges, which help bypass compliance checks and obscure the identities of the involved parties.
    • Crypto Debit Cards: The resurgence of cryptocurrency debit cards is noted, as they enable quick conversion of cryptocurrency to fiat cash at ATMs, facilitating the rapid movement of illicit funds.

This report underscores the adaptability of cybercriminals in leveraging both established and emerging technologies to facilitate and conceal illegal activities. The continued use of Bitcoin, the rise of privacy-centric cryptocurrencies like Monero, and the evolving laundering techniques reflect the dynamic nature of cybercrime and the challenges faced by law enforcement in tracking and preventing such activities.

Source: crypto.news

The post Europol: Bitcoin is ‘most abused’ crypto by criminals appeared first on HIPTHER Alerts.

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UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System

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The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.

Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.

“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”

ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.

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“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”

The post UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System appeared first on News, Events, Advertising Options.

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Bybit Supports Wildlife Conservation Through Sea Turtle Adoption Initiative with Subsum

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Libfx.com Announces Vision to Build a World-Class Financial Platform

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