Europol says Monero transactions can’t be tracked down


And Monero goes momentarily back into the top 10 cryptocurrency list.
Bitcoin may be the king of cryptos preserving an impressive 65% share of the entire market cap, but Bitcoin has always been pinpointed by the most radical adopters of cryptocurrencies for not offering a total level of privacy.
On the other hand, Monero is a cryptocurrency that has always been popular in the crypto world for the complete degree of anonymity offered to users who want to run financial transactions without being supervised by state enforcement agencies.
Lately, Monero’s capacity of keeping transactions private has been one more time emphasized by a Europol analyst that focused on the fact that Monero operations cannot by traced by the European law enforcement agency.
We all know that online criminals and authorities are always engaged in a race for the best technology available that can keep one of them a step ahead of the other. And Monero couldn’t have escaped the attention of the two parties especially when hackers go to great lengths to hide their traces in the real world and in the online environment.
Now, it doesn’t mean that Monero is the best friend of online criminals, but unfortunately for the cryptocurrency space Monero has come to be associated with illegal activities that are meant to hide financial transactions and users who look to avoid paying taxes and fees which are normally paid via the traditional means of sending and receiving money.
The Europol analyst has come forward with his declaration after the European law enforcement agency had difficulties in apprehending a suspect that was using Monero transactions via the anonymity-focused browser Tor that permits the user to hide the original IP address.
Thus, when the suspect put together the power of Tor browser and Monero, the agents couldn’t track down the transferred funds and not even the computer’s IP address.
Along the years, Monero had to face an increasing level of resistance from various states and regulatory agencies that indicated that Monero can be used for illegal activities. For this reason, Monero has already been denied from operating in multiple countries of the world.
Since cryptocurrencies have become known for providing users with financial power and privacy, this degree of privacy is not so much appreciated by national regulators who consider that a digital currency as Monero can be used for multiple illegal pursuits like money laundering.
Monero may not be loved by state regulators and law agencies, but it does stand as a powerful symbol of the crypto world together with Bitcoin, and for this reason Monero will not leave the space very soon.

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