Bitcoin proves double-edged sword for criminals

Cryptocurrencies' transparent transactions are proving that shady deals using the technology might not be as hidden as criminals believe it to be. — REUTERS

Regulators have repeatedly criticised the growth of cryptocurrencies such as bitcoin because of their popularity with criminals but the technology's transparent transactions can also work against law breakers.

The lesson is one that has been learnt by cybercriminal hackers Darkside the hard way after the organisation extracted a US$4.4mil (RM18.12mil) ransom from oil company Colonial Pipeline in bitcoin.