The problem of the spread of cybercrime is becoming more acute today, and developed countries with high prices for GDP suffer much more than developing countries. This is due to the fact that the more advanced technologies a society uses, the more it depends on digital structures. This, in turn, creates more opportunities for cybercriminals. In 2021, the damage caused by cybercrime is estimated at $ 6 trillion – twice as much as in 2015.

Meanwhile, the concepts of cybercrime and cyberterrorism differ in different legal systems. Some criminologists share these concepts; Others consider them equal. Barry Cullen, a senior fellow at the California Institute for Security and Intelligence, first coined the term “cyber terrorism” in the 1980s. He understood this meaning as the convergence of the virtual and physical world and did not see the difference between cybercrime and cyberterrorism. Later, other definitions of this term appeared.

The US FBI describes cyber terrorism as a deliberate attack on all information that leads to violence against non-combatants and other social and national groups. However, this definition is somewhat ambiguous, as it easily classifies almost all Internet scams as cyber terrorism. Another characteristic of cyber terrorism is its frequent mention in connection with cryptocurrencies.

Track transactions
Blockchain technology offers a wide range of possibilities for investigating crimes and responding to potential attacks by cybercriminals. On the one hand, blockchain allows you to track suspicious transactions and disrupt the transfer of money to the accounts of potential criminals and people associated with them. You can also track the funds of an ICO project to prove the misuse of investors’ funds. On the one hand, survey data stored on the blockchain as well as other forensic databases will be both more intuitive and secure at the same time. This will allow law enforcement agencies to safely store the entire range of information they need – data leaks, biometric data for citizens and stateless persons, criminal records, lists of wanted persons and much more.

Many terrorists have started making their claims in cryptocurrency, which of course has given it a bad reputation. Cryptocurrencies were originally designed to be infinite, which means they will be harder to track. Unfortunately, many governments have decided to take the simplest path: to ban the use of cryptocurrencies on their territory. Several high-profile cases of cryptocurrency fraud and the sharp devaluation of cryptocurrencies in 2018 put the new industry in an ugly position in the eyes of law enforcement.

Recently, a number of companies have been actively developing blockchain solutions to combat money laundering. Some of them are successfully used in the field of risk analysis and control for cryptocurrency transactions. Blockchain startup Coinfirm has developed an AML platform that allows you to track suspicious transactions and fight economic terrorism using over 270 risk indicators. French cybersecurity specialist Nigma Conseil and the Austrian Institute of Technology also announced their forensic blockchain platform earlier this year. The platform is designed to enable users to track and simplify blocking processes.

Cases of theft of personal data and intangible property are often recorded. The actions of cyber terrorists and cyber criminals damage the reputation of police authorities, as they often lack the ability to protect themselves from such attacks and respond quickly to them.

Hacker attacks take place domestically, such as hacking the infamous Yahoo website targeting all 3 billion user accounts, and internationally, with the government of one country accusing another country of piracy, resulting in a worsening external environment. Until the advent of Bitcoin (BTC) in 2008, there was no solution or alternative to centralized data storage for this problem. Each database contains a vulnerability that, if compromised, would allow access to all stored data and free up the freedom to make changes at will.

Hack investigation
The main problem is the principle of data storage. It is organized as a central system. Once accessed, you can easily make any necessary changes or even delete all existing information. For example, home office databases store sensitive information about wanted criminals. If the system is compromised, hackers can manipulate evidence, which could lead to the exclusion of criminals from an ongoing investigation.

Source: CoinTelegraph