FX.co ★ Experts name popular cryptocurrencies among scammers

Cryptocurrencies have become even more popular since the end of last year. Digital money is making headline news again, while its price is reaching new record highs. In this light, various swindlers decided to take advantage of the situation and try to earn on gullible people.

Thus, experts have presented the rating of the most popular virtual currencies among fraudsters. Bitcoin is clearly the undisputed leader among all cryptocurrencies. Then, however, crypto enthusiasts have given preference to different digital cash. If law-abiding market participants choose ether, then criminals opt for Monero.

According to the Group-IB computer forensics laboratory, bitcoin is certainly the most demanded cryptocurrency. It is easy to buy and transfer compared to other altcoins. Meanwhile, scammers prefer to use anonymous virtual coins such as Monero, Zcash, Dash, Komodo, etc.

Group-IB underlines that bitcoin cannot be called a completely reliable currency. Bitcoin address transactions are traceable. Thus, the IP address can be exposed. As for Monero, Zcash and Dash, it is already impossible.

The team of Group-IB experts believes that demand for cryptocurrencies among scammers will only increase since more people start investing in digital coins as a speculative instrument. Moreover, users think about security already after high-profile scandals related to the hacking of cryptocurrency exchanges and personal e-wallets.