The cryptocurrency No. 1 has clearly proved its popularity. However, there is a flip side to this worldwide fame: Bitcoin remains a magnet for cyber fraudsters.

According to the European Police Office (Europol), the leading digital asset attracts not only miners and market participants but also scammers. Ethereum is the second-most popular cryptocurrency among cyber fraudsters, followed by a number of altcoins, including the most traded Zcash and Monero.

As indicated in the Internet Organised Crime Threat Assessment (IOCTA 2019) report prepared by Europol, Monero has become the most frequently used altcoin in the DarkNet markets this year. Interestingly, the DarkNet is a hidden network whose connections are established only between trusted peers, known as "friends". This network uses non-standard protocols and ports, and data is transmitted encrypted.

Europol emphasized that Monero tokens were widely used for hidden mining. However, this year the situation has changed. This altcoin has become less interesting for cyber fraudsters, and the volume of Monero illicit mining has declined.

As for Bitcoin, the experts' analysis has provided an opportunity to assess the volume of bitcoin transactions on the DarkNet. It turned out to be quite large. According to analysts, the volume of illegal bitcoin transactions on the DarkNet may exceed $1 billion by the end of this year.