Blog | G5 Cyber Security

How Cybercriminals Are Converting Cryptocurrency to Cash

Cybercriminals are using increasingly sophisticated methods to turn illicitly gained cryptocurrency into cash, a Chainalysis report finds. The report traced $2.8 billion in bitcoin that criminal entities sent through cryptocurrency exchanges. Some exchanges known as “over-the-counter brokers” are being leveraged by cybercriminals to convert cryptocurrency that is paid out in ransomware and other attacks into cash for a fixed fee. These brokers facilitate trade between individual buyers and sellers who don’t want to transact on an open exchange.”]

Source: https://www.healthcareinfosecurity.com/how-cybercriminals-are-converting-cryptocurrency-to-cash-a-13625

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