Zcash Researchers Believe Criminals Are Unskilled At Using Crypto

Zcash researchers unveiled a new study where it says that the cyber criminals are highly unskilled at using Crypto. The Rand Corporation found a widespread lack of knowledge on the side of the dark web criminals as we are reading further in the Zcash news.

The study by the Rand Corporation unveiled that the people using Zcash for illicit activities on the dark web, may not fully understand the underlying technology. According to the report by the Zcash researches which was 65-pages long, the US-based think tank outlined that the criminals have a hard time with the anonymity offered by Zcash and similar privacy coins.

The research shows that the governance of Zcash is branding as compliant with the AML/CFT regulations which could make it less susceptible to further exploitation for illicit activities. There is one aspect however, the study shows that the perception of the criminals of Zcash is that the market conditions and its characteristics are the best sides of the privacy coin. The report also shows that the criminals choose to follow the money mentioning Bitcoin which has a hegemony and gives criminals the confidence in their criminal activities because of its popularity.

The study shows that the criminals don’t consider Zcash practical. The darknet analysis reveal that Zcash has almost non-existent presence which shows that it is unattractive to the users of the illegal activities. The report shows that most of the criminals are not using Zcash payments as a shield which would help to hide their identities. The Researchers speculate that the users ‘’either do not understand the ZCash model or are not aware.’’ The study concluded:

 “Bitcoin is still perceived to be the dominant cryptocurrency for illicit or criminal activities on the dark web.”

The Rand Corporation clarified that the study about the use of cryptocurrencies in illicit activities remain an emerging field. Another study by Chainalysis, reported back in 2019 that the number one cryptocurrency is considered as the worst payment method for dark web users but it is still the most used and widely accepted. Rand Corporation published a new research of illicit activities on the dark web back in 2019 reaffirming the idea of the popularity of Bitcoin in criminal activities.