Crypto-Asset Phenomena, Cyber Crimes and What VISA® think - Blockchain Forensic Investigators
Cryptocurrencies offer more control over financial investments, easier access to market opportunities and fewer transaction fees. Unlike cash or checks, digital currency is impossible to counterfeit, making it extremely valuable for digital payments and microtransactions.
But there is another side, a bad side: Cyber Crime, Crypto Fraud, Online Investment Fraud, Online Broker Fraud, Payment Fraud, Hacking of Crypto Vallets etc.
Crime-related risks with Cryptocurrency are still high: 25% or 1/4 of cryptocurrency transactions worldwide have a criminal purpose; approximately 1.5 billion euros in crypto coins are spent every year on dark web platforms to buy drugs, prostitution, weapon, and all kind of illegal activities; the latest crypto fraud case dated 23rd February 2023 involved 7 billion euros of USA, EMEA, EU, UK civil crypto and financial assets, which will be given back, if anything left behind criminal groups.
Here, you can read more about what VISA® writes in their Technical White paper - this paper describes the current perceptions, use, and opportunities surrounding cryptocurrency:
The Crypto Phenomenon - Consumer Attitudes and Usage - White and Technical Paper