As is now known, le cryptocurrency they are considered an excellent tool for the criminal economy. The guaranteed confidentiality profiles, in fact, make virtual money much more suitable than cash for tax evasion or payments that you do not intend to leave a trace, for example those that take place on the Dark Web, which is the most hidden part of the Internet on which the merchants of drugs, weapons and human beings operate.
There are now many reports that indicate in the Bitcoin the preferred cryptocurrency for this kind of transactions. Now however, a statement released by Rick Holland, chief information security officer of the cyber threat intelligence firm Digital Shadows, seems to tear the veil in this particular area. Let's go and see why.
Monero is the token of choice for the smartest criminals
Rick Holland, during an interview with CNBC, stated with great decision that Monero is gaining ground among the handful of hardened and crafty criminals. Who need tools capable of guaranteeing confidentiality for their operations. Finding excellent answers from Monero, now labeled as "privacy coin" for excellence. To confirm his thesis there is a very precise confirmation: REvil, a hacker group specializing in so-called ransomware, is even willing to grant one discount to victims who opt for the payment of the ransom in XRM.
Confirmation of Fred Theil
Holland's thesis was later confirmed to CNBC by Fred Theil, former executive of the crypto giant Ultimachus. According to him, in fact, the most astute criminals would resort to Monero, ignoring a Bitcoin considered lacking from the point of view of privacy. If the Satoshi Nakamoto icon is still in a position of absolute domination, as far as transactions on the illegal markets of the Dark Web are concerned, XMR it is taking up more and more space. Just why manages to more effectively guarantee the obscuring of essential data in order to reconstruct the operations. That is those relating to the wallet, to the amount of the transaction carried out and of the counterparty involved.
Also Digitalmint, a company that joins companies attacked by cybercrime in the act of paying the ransom, had its say on the matter. He did so during an interview with MacKenzie Sigalos, a CNBC Tech correspondent, during which it was explained that 90% to 95% of all ransom payments are still made in Bitcoin.
As for the rest, however, Monero is becoming an increasingly popular option, despite some drawbacks that play to the detriment of criminal interests. Among them it should be remembered above all the fact that now serious platforms that allow cryptocurrency trading have banned XMR. Now seen as a widely discredited token and from which it is advisable to stay away.
Monero: what future for the project?
Just the decision, taken by many exchange, has prompted many operators to question what its future could be. Concluding that the desire to achieve standards of confidentiality close to anonymity at any cost could finally condemn the project to a fate quite lame.
In practice, in the next few years XMR will see trading volumes fall more and more. It will also have to give way to cryptocurrencies which set themselves more ambitious goals than the confidentiality of people who need it for not exactly memorable deeds.