Italian Anti-Mafia Directorate warns about the use of cryptocurrencies by criminal organizations – DiarioBitcoin

US authorities capture nuclear engineer after receiving cryptocurrencies for the sale of secret plans - DiarioBitcoin

Italian Anti-Mafia Directorate warns about the use of cryptocurrencies by criminal organizations - DiarioBitcoin By Angel Di Matteo @shadowargel

The police body points out that criminals are increasingly interested in digital currencies, precisely because of their properties in terms of the anonymity of operations and the possibility of moving capital without bureaucratic controls.


The Italian Anti-Mafia Directorate (DIA), An address belonging to the country’s police forces recently revealed that mafia groups and criminal organizations are increasingly using cryptocurrencies to carry out illicit activities.

This was indicated by a spokesperson for DAY during an interview conducted by the German media Zeit Online, where a representative of the police entity commented:

“All criminal organizations, including those of the mafia type, have an interest in using these instruments for their business.”

Comments from the representative of DAY go hand in hand with the data previously published by the police organization in a new report, in which it reveals that criminal organizations are making use of these assets for their properties to boost payments and circumvent certain controls, especially in commercial activities related to drugs and illicit substances.

In this regard, the report reads:

“Ndrangheta, the strongest and most powerful criminal syndicate in the country, is increasingly attuned to modern tools such as cryptocurrencies and the deep web.”

Cryptocurrencies and criminal activities

The concern on the part of DAY and other police entities comes to the fore in the midst of the commercial boom that the main cryptocurrencies are registering, which is attracting the attention of people outside the sector who are increasingly attracted to these assets.

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Regarding the mentions of the Deep Web and the Dark Web, There are many platforms in which users trade drugs and illegal items accepting payments with cryptocurrencies. The authorities pay more and more attention to their modus operandi, precisely to block the passage of organizations and people who operate in these services.

Despite the growing interest in the use of these assets, various reports ensure that digital currencies are not listed as the main mechanism for perpetrating illicit activities. This occurs because the use of technology Blockchain guarantees total transparency and traceability to operations, so with the appropriate tools, anyone can monitor the flow of funds through the different wallets through which they pass.

But the biggest concerns revolve around the use of coins with an emphasis on the privacy of operations. In this regard, various authorities point out the dangers associated with the use of Monero (XMR), cryptocurrency that does not keep a record of the operations carried out through its network, which is mainly associated with illicit activities due to the impossibility of tracking operations.

Malwares and Ransomwares

But the line of crime that most worries cybersecurity agencies has to do with attacks of the type Ransomware, in which hackers sneak malware into servers or computers with important information, encrypting the content hosted there and asking victims to pay a ransom in cryptocurrencies to recover the compromised data.

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The case that recently raised the alarm and generated strong consequences for the United States was the attack perpetrated by the group DarkSide against Colonial Pipeline, operating company of one of the largest oil pipeline systems in the country. The attackers hijacked the information hosted on the company’s servers and requested the payment of some USD $ 5 million in funds. Bitcoin

Although the FBI recovered part of the ransom and Colonial Pipeline managed to resume its activities, the consequences generated to the company and its repercussions on the operation of certain economic sectors made the president of the United States, Joe Biden, pronounce himself on the matter and warn about the need to seek international cooperation to stop these and other attackers.

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Source: Decrypt, File DailyBitcoin

Version by Angel Di Matteo / DailyBitcoin

Picture of Unsplash

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