PETALING JAYA: Anonymity, speed and global accessibility are some of the reasons why cybercriminals prefer to demand ransom to be paid in cryptocurrency, say criminologists.
“The irreversible nature of these transactions ensures that once the ransom is paid, victims cannot recover the funds, offering criminals a level of security,” he added. “After receiving the ransom, typically in popular cryptocurrencies like Bitcoin or stablecoins like USDT, criminals often employ tactics such as mixing services and chain-hopping.
Raymon said enforcing strict identity verification and transaction monitoring can make it harder for criminals to launder their illicit gains.
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