BEWARE: Criminals Increasingly Using Cryptocurrencies

Criminals in Italy and Germany are increasingly making use of cryptocurrencies, according to the customs directorate in Bonn, Germany.

“The use of cryptocurrencies for online payment in the context of criminal offences is clearly on the rise,’’ the directorate said in a recent statement.

According to investigators’ findings, in most cases, the perpetrators use Bitcoin and the currency Monero.

READ ALSO: Germany To Return All Stolen Benin Artefacts By 2022

Cryptocurrency is a digital payment system that doesn’t rely on banks to verify transactions.
Instead of being physical money that is carried around and exchanged in the real world, pop cryptocurrency payments exist purely as digital entries to an online database that describe specific transactions.

Sponsored

Cryptocurrencies were used in the context of criminal offences to completely anonymise ordering and shipping procedures for illicit products or services.

Many experts believe that blockchain and related technology will disrupt many industries, including finance and law.

Neither German nor Italian police authorities provided precise information about operations, sums, or damage.

SPONSORED
ABN TV EDITOR

ABN TV is one of the most visited news platform across Nigeria and the world over. It has carved a niche for itself in delivering authentic, accurate news.

Recent Posts

Withdraw Your Comment On Nigerian Economy Now, APC Chieftain Joe Igbokwe Tells Davido

A chieftain of the All Progressives Congress (APC), Joe Igbokwe has advised Afrobeats star, Davido…

2 hours ago

Akwa Obim State Govt Suspends Principal Over Poor School Feeding

Akwa Ibom State Commissioner for Education, Idongesit Etiebet, has announced the suspension of Nse Sunday…

3 hours ago

Edo: Obaseki in Fresh Trouble as Okpebholo Sets-up Panel to Probe Predecessor

By Ogochukwu Isioma The Edo State Governor, Senator Monday Okpebholo, has approved the constitution of…

7 hours ago

‘Junior Pope Didn’t Pay Dues’ — AGN Gives Update On Late Actor’s Case With Adanma Luke [VIDEO]

Emeka Rollas, the president of the Actors Guild of Nigeria, AGN, has given reason for…

8 hours ago

Tension As Many Hospitalized In Abia Community After Free Drug Distribution (Photos, Video)

A medical emergency has unfolded in Abiriba, Ohafia LGA, Abia State after a large number…

15 hours ago

Tinubu, Wife Return To Nigeria After G20 Summit In Brazil⁣

President Bola Tinubu and First Lady Oluremi Tinubu have returned to Abuja after attending the…

16 hours ago