Why Cyber Hackers and Money Launderers Prefer Cryptocurrencyby@sabit

Why Cyber Hackers and Money Launderers Prefer Cryptocurrency

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Cybercriminals seem to have found a sweet spot in cryptocurrency wallets because of its anonymity nature alongside some other ‘loopholes’. Some of them now demand cryptos from their victims as ransom. Cyber criminals and money launderers use crypto wallets to their advantage. Cryptocurrency addresses are anonymous. You don’t know the name or where the address owner lives. All you see is a string of alphabets and numbers. Some platforms where you can convert cryptocurrency to a fiat (real money) and withdraw - don't have a Know Your Customer (KYC) policy in place.

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Sabit Ololade

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by Sabit Ololade @sabit.500k+ Content View - still counting. Technical writer with a passion for software & tech. Blockchain Writer.
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