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Russia: Criminals rarely use cryptocurrencies to withdraw stolen money

cryptocurrenciesAccording to her central bank Ρωσίας, scammers rarely use cryptocurrencies to withdraw stolen money.

The first deputy director of the Bank of Russia's Intelligence Department, Artem Sychev, interviewed TASS and said the bank is monitoring methods used by scammers to withdraw funds. Based on her observations, she develops means of protection. The bank has noticed that most thieves prefer to steal cash rather than digital coins. According to Sychev, in Russia the withdrawal of stolen funds in the form of cryptocurrencies is very rare. Sometimes, cryptocurrencies are used to withdraw funds, but for now this method is not very widespread, because it is much easier for an attacker to get cash.

Typically, the crooks they use a bank card to steal money. However, this happens two to four times and then it is unloaded.

Sychev also said that it does not matter how it will evolve technology in the future. What matters is understanding the methods and techniques that invaders use to do so attacks and to withdraw funds. If the bank of Russia perceives that fraudsters use a certain way, which allows them to steal money easily, then more protection measures will be created specifically to combat this theft method.

Recently blockchain Chainalysis company said that fraudsters, at a very high rate of ransomware attacks, were doing money laundering through cryptocurrency exchange platforms.

Also, Chainalysis revealed, in a report, that 95% of crimes, related to cryptocurrencies and investigated by the authorities, involve bitcoins (BTC). The COO of the company, Jonathan Levin, said the authorities should pay special attention to these crimes and apply more sophisticated approaches to tackling dark networks. Russia may not use much of the cryptocurrencies for money laundering or the withdrawal of stolen funds, but crimes related to cryptocurrencies have increased a lot.


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Absent Mia
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