Crypto Assets and dark web crime: 2020 Trend Analysis

In recent years, Crypto Assets have often been associated with the dark web and money laundering due to their anonymity and cross-border characteristics. In fact, the dark web is indeed one of the main application scenarios for Crypto Assets.

Although the famous dark web market "Silk Road" was shut down in 2013, dark web activities did not disappear. On the contrary, according to statistics from a certain data platform, dark web market activities saw a significant increase in 2020 compared to 2019.

Zoom Account Leak Incident

In April 2020, 530,000 Zoom account passwords were publicly sold on the dark web, involving users from several well-known institutions. Each account was sold for only 0.002 cents, totaling about 10 dollars. Analysts believe this is likely due to hackers using previously leaked account data for credential stuffing attacks. This reveals shortcomings in Zoom's user data protection.

Crypto Assets in Dark Web Transactions

The anonymity and convenience of Crypto Assets make them the preferred payment method for transactions on the dark web. According to statistics, the trading volume of Bitcoin in the dark web market exceeded $1 billion in 2019 alone. In addition to Bitcoin, other Crypto Assets such as Monero, Litecoin, and Dash are also widely used in dark web transactions.

In recent years, several large-scale data breach incidents have been linked to the dark web, involving user data from various fields such as social platforms, hotels, and educational systems. This data is often sold at a price denominated in Crypto Assets.

Analysis of Crypto Assets Money Laundering Techniques

Hackers often use Crypto Assets exchange services for money laundering, converting Crypto Assets into intermediate currencies like game virtual currencies, and then exchanging them for fiat currency. They also employ techniques such as sharding and coin mixing to hide the flow of funds. However, the final integration phase still faces the risk of being monitored.

Trends and Regulatory Recommendations for 2020

It is expected that in 2020, decentralized criminal activities will become more rampant. Criminals may turn to new Crypto Assets communication platforms and involve professionals to provide technical support. To respond to this trend, it is recommended:

1. Promote KYT( Know Your Transaction) technology to strengthen transaction supervision.

2. Strengthen collaboration among all parties and share criminal intelligence.

3. Promote international regulatory cooperation and establish unified standards.

4. Play the intermediary role of security companies to facilitate information sharing.

A certain security company has assisted in the investigation of more than 40 criminal cases involving Crypto Assets through its anti-money laundering system.

Conclusion

Crypto Assets crime has dual characteristics, showcasing both technological potential and risks. We should face the application prospects while being alert to the possible negative impacts it may bring. In the future, international cooperation needs to be strengthened, utilizing new technologies to promote the healthy development of Crypto Assets while preventing them from becoming a hotbed of crime and a source of financial chaos.