Europol: cryptocoin's role is growing in cybercrime

According to Europol, Zcash, Monero and Ethereum gain popularity among cybercriminals
04 October 2017   410

The European Union Police Service published an annual report on cybercrime, which reports an increase in the use of Zcash, Monero and Ether crypto currency in the implementation of illegal transactions in darknet. This is reported by the report prepared by Europol IOCTA 2017.

As noted in the document, despite the widespread use of bitcoin by cybercriminals, various altcoins are rapidly gaining popularity in the digital underground, including Ethereum and Zcash. Europol noted the Monero (XMR), which its popularity is largely due to "additional security and confidentiality functions."

The Europol report talks about the growing popularity of crypto-currencies on anonymous darknet platforms, as well as the Kirk, who claims for ransom in Monero. The document also says that darknet platforms can be created on the basis of Ethereum blockchain, and smart contracts can be used to pay for illegal goods.

As for the Zcash crypto currency, Europol does not mention any specific cases of its illegal use. At the same time, due to confidentiality and the ability to "hide both the transaction recipient and the amount," there is a growing interest among darkweb marketplaces from this anonymous cryptocurrency.

It should be noted, however, that contrary to the position of Europol, the Zcash project is a partner of The Blockchain Alliance forum, one of the main goals of which is to counteract cybercrime and the spread of malicious software.

ZEC Can Hit $60k in 2025, Grayscale Investments Says

In order for this prediction to come true, 10% of world offshores should "enter" in Zcash
01 February 2018   229

The rate of anonymous crypto currency can rise to $ 60,000 by 2025. Financial model, developed by the researcher of Grayscale Matthew Beck says about it. At the time of publication, 1 ZEC costs about $ 400, which means that it needs to grow 150 times to make this prediction come true. This is reported by Fortune.

However, in the financial model, there is one assumption: Zcash could reach such heights, by 2025 it should be 10% of all offshore assets. Although this statement may seem absurd given the current alignment of forces in the market, Beck argues that the potential of Zcash is extremely underrated.

We think of ZEC as the first globally accessible ‘offshore’ investment opportunity, or a Swiss bank account in your pocket, so to speak. There is no single point of failure. Investors are not bound to the success or failure of a single entity, political regime, or economy.

Mattew Beck

Grayscale Investment

At the moment of press, these are main ZEC market parameters:

  • Average Price: $393.87
  • Market Cap: $1 253 426 55
  • 24h Volume: $74 727 600