New Study Highlights Cryptocurrency's Role in Cybercrime

Cybercrime is generating at least $1.5 trillion dollars in revenue every year via illicit online markets, IP theft, crimeware, and ransomware.

In some cases, cybercrime revenues exceed those of some legitimate companies.

A recent study, sponsored by Bromium and conducted by Dr. Michael McGuire, examined the evolution of cybercrime and cybercriminals in recent years.

Their findings were astonishing - cybercrime is turning into a trillion dollar industry, rivaling the earnings of more traditional crime.

What's even more interesting is the use of cryptocurrency in cybercrime.

Notwithstanding public opinion, laundering through cryptocurrencies like Bitcoin remains relatively minuscule.

A Europol estimate suggests that Bitcoin and other cryptocurrencies were used for merely 4% of the total amount of laundered money in Europe.

The mainstream media has cast a shadow on cryptocurrencies, leading the public to believe Bitcoin and other cryptocurrencies are solely used for illegal exchanges on the dark web - unfortunately, they do not mention the significant benefits that many blockchain projects are bringing to the table.

Researched and written by Dr. Michael McGuire, Into the Web of Profit is an in-depth study of cybercrime.

McGuire delves into the realm of cybercrime in a fascinating way, taking a look at every aspect of the industry.