Bitcoin and virtual currencies being undermined by rising criminality, says McAfee

The idealism and convenience behind virtual currencies such as Bitcoin is at risk of being undermined as abuse by professional criminals grows to unacceptable levels, a report by security firm McAfee has argued.

The catalogue of practical and conceptual problems listen in the firm’s Digital Laundry overview is perhaps not particularly original – numerous critics have spotted potential flaws in virtual currency systems – but serves as a timely reminder of their growing importance to cybercriminals.