Which crypto currency is popular with darknet hackers?

An illustration picture shows a projection of binary code on a man holding a laptop computer, in an office in Warsaw June 24, 2013. REUTERS/Kacper Pempel (POLAND - Tags: BUSINESS TELECOMS TPX IMAGES OF THE DAY) - RTX10ZB5
UNITED STATES – Specialists of the analytical company Recorded Future conducted a study, during which they determined the popularity of crypto-currency on the “black market”. Experts stressed that at the moment Russian cybercriminals prefer Litecoin, and their foreign colleagues – Monero.

Experts analyzed more than 150 trading platforms, various sites and forums offering illegal services. As a result, it was found that the criminal underground increasingly refuses to use bitcoats due to the extremely slow processing of transactions and their high cost. Previously, many analysts assumed that the Monero crypto currency (which is also more anonymous) or even Ethereum will replace it.

However, experts say that at present Litecoin is the second most popular crypto currency among cybercriminals: in total, Litecoin accepts 30% of the sites, services and sellers that it has studied. The second place went to the DASH crypto currency, it is used by 20% of the resources considered. The list of Bitcoin Cash, Ethereum and Monero closes (13%, 9% and 6% respectively).

The results showed that Russian cybercriminals prefer Litecoin, and their foreign counterparts – Monero. At the moment, more than 30% of the sources surveyed prefer Litecoin currency, DASH got the second place, followed by Bitcoin Cash, Ethereum and Monero. Typically, English-speaking users tend to work with crypto-loans, which provide an increased degree of anonymity, while Russians are less concerned about this issue.

Analysts suggest that this discrepancy of preferences is primarily due to the fact that the Russian authorities do not touch Russian cybercriminals, if they do not carry out attacks on their own citizens. Thus, they feel comfortable working with crypto-currencies, which provide a limited degree of anonymity.

Researchers also conducted a survey at one of the popular darknet forums, whose visitors were asked to vote for their favorite crypto currency. It turned out that they give their preferences to Dash and Monero, while Litecoin took only fourth place.

Experts note that the support of Monero among the criminal community is growing. In addition to the anonymous features of the crypto currency, this trend is also explained by the fact that Monero is relatively easy to mine, so it often uses scripts such as Coinhive, embedded in the code of web pages and malicious applications.