Europol: cryptocoin's role is growing in cybercrime

According to Europol, Zcash, Monero and Ethereum gain popularity among cybercriminals
04 October 2017   749

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.

Tron and Zencash are Now accepted at Pornhub

The world’s largest adult entertainment websites Pornhub, now accepts cryptocurrency Tron as payment: this is significant for the newly independent Tron
27 June 2018   252

Tron was ran on the Ethereum blockchain in April 2017 but soon declared itself as a competitor to its progenitor. It then migrated to a Beta version of its own blockchain at the end of May. Tron`s value has been steadily falling since its migration.

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Pornhub introduces major new marketplace for Tron. Working since 2007, the site issued its 2017 ‘year in review’ in January and the numbers are staggering. 81 million visits a day (or 28.5 billion a year), 25 billion searches performed (that’s 800 per second), 68 years worth of porn uploaded, and 3,732 petabytes of data transferred - “every 5 minutes Pornhub transmits more data than the entire contents of the New York Public library’s 50 million books.”

Decentralized payment systems have continued to grow in popularity, and cryptocurrency adoption is exploding across a broad economic spectrum. Today, cryptocurrencies are especially viable in the adult entertainment industry because they are privacy-centric and incorporate more anonymity tools than traditional tender.
Corey Price
Pornhub VP

Another digital currency now accepted by Pornhub is Zencash, that is a fork of Zcash. Like it Zcash, Zencash is an anonymity-focused coin. Both they are similar but Zencash has additional features such as encrypted messaging and secure nodes - a small number of blockchain nodes that protect the blockchain from attacks, motivated to do so with a reward system similar to proof-of-stake. It has a market cap of $67 million (Zcash is at $682 million).

Pornhub was acquired by MindGeek in 2010. MindGeek is a Canadian pornography group that has been aggressive in its acquisitions over the last decade, according to Forbes, and now owns 8 of the 10 largest pornography websites. Tron has been making huge steps since its migration. It purchased software firm BitTorrent at the beginning of June for an amount which stays undisclosed but is reckoned to be well over $100 million. Some found this puzzling because BitTorrent is a file sharing website that is completely open source.

Tron Price at the Moment of Press: $0,039690 
Market Cap: $2 609 542 551
Volume (24h): $109 684 000