Virtual Safe Haven: 5 Reasons Digital Currencies Fuel Cybercrime

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5. Irreversible

There is no disputing a transaction in the virtual currency world, making transactions irrevocable, the McAfee experts said. With little documentation, anonymity and the lack of a central authority, disputes are typically handled in underground forums. Cybercriminals value their reputation in underground hacker forums, keeping most disputes to a minimum to avoid a tarnished image.

Imperva's Hacker Intelligence Initiative monitors hacking forums and found experienced hackers teaching novices how to successfully carry out campaigns. The firm found that most of the forum messages were requests for hacking tools, followed by website hacking discussions and ways to rent botnets for campaigns. Hackers often take transaction discussions into invitation only and instant relay chats to finalize a transaction.


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