Bitcoin has hit the front pages of the news papers on countless times due to hackers use of the digital currency. Her Majesty Revenue and Customs along with the FBI and MI6 met back in May 2009 in a London hotel to discuss organised crime and terrorists using virtual currency in a closed session.
Since Bitcoins inception it has been the favorite choice of currency for ransomware attacks. Using BTC spinners it is possible for hackers to cover their tracks so that it is impossible for the authorities to track them. It used to be high risk for hackers as the only payment services they could exploit targets were through services such as Western Union. Using these types of money transfer companies offered authorities a chance to track and trace the hackers but now with cryptocurrency that is almost impossible if it is implemented correctly.
To find out why hackers love Bitcoin read the full article at the Guardian Newspaper:
In May 2009, representatives of crime agencies including MI6 and the FBI, as well as Her Majesty’s Revenue and Customs, gathered for a closed session at a conference in a central-London hotel. The topic: the potential use of virtual currencies by organised criminals and terrorists. “At the time, everyone […]