Cryptocurrencies have become the enterprising cybercriminal’s best friend, offering easy conduits for moving money. From white collar scams to drug deals, crypto-related crime is rising. According to Jonathan Levin, the co-founder of blockchain startup Chainalysis, at least 95 percent of crypto-related crimes investigated by authorities involved Bitcoin.

Levin, whose company monitors transactions and follow the money of nefarious types on the blockchain for government agencies such as the FBI, said that Bitcoin (BTC) is still well-entrenched as the preferred payment for cybercriminals. He urged the US government to focus on the crackdown on illicit activities which occur on the dark web. Also, he sounded an alarm about terrorists using cryptocurrencies. They exploit the anonymity offered by blockchain for finances and fundraising.

“What we’ve seen is that there is the ability to tie some of those cryptocurrency transactions either to the pharmacies in China or actually to the services that people are using to distribute…

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Source: https://thebitcoinnews.com/cybercriminals-still-prefer-bitcoin-to-altcoins-says-chainalysis-co-founder/