Voices from the Digital Underground: Exploring Cybercrime Pathways in Nigeria’s Crypto Ecosystem
Abstract
The rise of cryptocurrency has revolutionized the digital economy, creating new possibilities for financial innovation, privacy, and global transactions. However, it has also given rise to cybercrime pathways that leverage blockchain technology for illicit purposes. This paper examines the nature and mechanisms of cybercrime pathways in the global cryptocurrency ecosystem through a qualitative comparative analysis of secondary data sources. These sources include peer-reviewed literature, regulatory reports, cybersecurity reports, and documented case evidence. The analysis focuses on the sociotechnical factors, operational patterns, and online communities driving crypto-enabled cybercrime, as well as the institutional responses and dynamics influencing these pathways. The study aims to explore how cryptocurrencies facilitate different types of cyber-enabled crime and how factors such as regulatory frameworks, enforcement capacity, and technological developments impact their evolution. The findings shed light on the interplay between crypto-based criminal innovation and regulatory adaptation, highlighting key challenges such as anonymity, weak oversight, cross-border enforcement, and limited digital literacy. While cryptocurrency offers opportunities for financial empowerment and innovation, the study underscores the importance of coordinated governance, robust law enforcement efforts, and responsible technology development in mitigating associated risks. This analysis contributes to the ongoing discourse on cryptocurrency regulation, cybercrime prevention, and the evolving dynamics of the digital underground.
Keywords
Cryptocurrency; Cybercrime; Digital Underground; Blockchain Misuse; Comparative Assessment; Cybersecurity; Secondary Data Analysis; Illicit Finance; Digital Forensics; Cryptocurrency Regulation
Citations
IRE Journals:
Busmond Obialom Okeke "Voices from the Digital Underground: Exploring Cybercrime Pathways in Nigeria’s Crypto Ecosystem" Iconic Research And Engineering Journals Volume 6 Issue 2 2022 Page 414-425
IEEE:
Busmond Obialom Okeke
"Voices from the Digital Underground: Exploring Cybercrime Pathways in Nigeria’s Crypto Ecosystem" Iconic Research And Engineering Journals, 6(2)
About IRE Journals
IRE Journals is an open access online journals established with an aim to publish high quality of research work in various diciplines. We have more than 6 years in publications. Over 2500+ papers already published.
Important Links
For Authors
Volume 8:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 7:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 6:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 5:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 4:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12Volume 3:
Issue 1, Issue 2, Issue 3, Issue 4, Issue 5, Issue 6, Issue 7, Issue 8, Issue 9, Issue 10, Issue 11, Issue 12