European Police: Monero has become one of the most used currencies in the "Dark Web"

In a recent IOCTA report issued by European Police, cryptocurrency mixing services were classified as one of the most common cybercrime threats of our time.

The report also stated that the Monero currency is one of the digital currencies strongly present in the "Dark Web" and the agency indicated that the "Zcash" and "Dash" currencies are the most popular alternatives that follow the "Monero" directly.

Privacy coins pose a security threat according to European police:

European Police “Europol” issued a report assessing the threat of organized crime via the Internet for 2020.

This report states that privacy-focused currency mixing services such as Wasabi and Samourai wallets are one of the "major threats".

This is in addition to the central coin mixers, which are already very popular.

The European Police also noted other worrying features, and what they mean:

"The samurai blender (provides cryptocurrency mixing services, to mix fraudulent and theft-related transactions with ordinary ones) does not necessarily remove wallets but it does cover the link between the source and destination of the funds, making tracking cryptocurrencies more difficult."

The European police report also states that cybercriminals are using hardware wallets for cryptocurrencies to a large extent.

This is because cold wallets securely store digital currencies and keep them off the Internet.

The Monero coin is strongly present in the "dark web":

The European Police report, which counted a large number of cybercrime activities around the world, drew attention to the use of privacy currencies in DarkWeb transactions.

The European Security Agency initially commented on the bitcoin that the Darkweb has relied on for a long time.

But over the years, the focus has shifted to alternative cryptocurrencies such as Ethereum, Monero, Litecoin, Zcash and Dash.

While Bitcoin is still the most popular payment method (mainly due to its widespread adoption, reputation and ease of use), over time the use of private cryptocurrencies has increased somewhat, albeit not at the rate expected by its supporters.

Where European police noticed a significant development in their adoption.

Of all the privacy-focused cryptocurrencies, the Monero gains the upper hand when it comes to Darkweb transactions.

It is followed by Zcash and Dash coin.

European Police commented in their report that dealing with these special digital currencies is difficult.

All privacy currencies may constitute a significant obstacle to law enforcement investigations, as it is difficult to track who is behind them, in addition to darkening transactions, making it difficult to know the size of the transaction and its sender.

Earlier, the Internal Revenue Service (IRS) announced a $ 625,000 prize for anyone who reveals methods and tools that allow tracking Monero XMR transactions.

A US agency provides $ 625,000 to anyone who hacks into the Monero network

The release of this report has not significantly affected the Monero coin price at all, as the privacy coin has increased by 8 percent in the past seven days, and has declined by 5 percent in the last 24 hours.

Litecoin is being developed for “MimbleWimble” to achieve their goal of issuing a scalable, high-privacy blockchain.