Management company expects criminal cryptocurrency transactions to decrease by 30 % by 2024 - security
Management company expects criminal cryptocurrency transactions to decrease by 30 % by 2024 - security
Gartner, a consulting company, has predicted that criminal cryptocurrency transactions or transfers will decrease by 30 % by 2024. The company says that factors such as the transparency of the blockchain and the democratization of fraud against this decline will contribute to this decline.
blockchain transparency
Despite the increase In the value of the crypto-related crimes recorded last year, Gartner predicts a management consultancy that "successful cryptocurrency thefts and ransomware payments will decrease by 30 % in two years". According to Gartner, such a decline will be attributed to the "inability of criminals, funds outside of blockchain networks.
in an article published on the company bloggen , explains Gartner that this prediction is based on four main factors and one of these factors is the transparency of blockchains that makes it anything but ideal for bad actors. The blog post explains why such transparency is so important:
To illustrate this point, the article refers to the 23 blockchains, which it means “to make up about 99 % of the market capitalization of all blockchains”. According to Gartner, it is easier to integrate the so-called anti-blockchain fraud systems with the 23 blockchains than with thousands of company systems and payment networks.
Although the conversion of blockchain metadata into useful information could prove difficult, the article of the consulting company comes to the conclusion that there are the possibility of marking suspicious payments and addresses if this is done correctly.
Democratization of fraud -proof instruments
Another factor that, according to the Gartner Blog article, will contribute to the decline in crypto-crime, is the democratization of fraud prevention tools that are currently being used by blockchain intelligence services.
Increasing anti-ransomware measures and the fact that most blockchain-related transactions are handled on regulated virtual asset service providers (VASPS) means that criminals are increasingly prefering to move illegally acquired funds over opaque legacy payment networks than to move through the blockchain.
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