Crimes involving cryptocurrencies in Scotland have increased by 2000%

The Police Scotland in their annual report stated that since 2019, the number of crimes related to cryptocurrencies has risen by 2000%. This is explained by more advanced tricks of crypto scammers.

The report does not provide an exact number of cryptocurrency crimes, but notes that organized crime groups are quickly adapting to emerging technologies and increasingly using digital assets to conceal illegal activities.

"The dark web facilitates criminals in organizing the supply of prohibited goods such as drugs, counterfeit products, firearms, and confidential data. In addition, people can be traded for bitcoins on the dark web, extortion can occur, fraud can be committed, and violence can be streamed live, law enforcement officials say.

Police Scotland has acknowledged that it currently does not have a dedicated cryptocurrency unit. However, law enforcement officials are being trained to track illegal cryptocurrency transactions.