Bitcoin Forum

Local => India => Topic started by: BTCIndia on July 17, 2016, 10:13:26 AM



Title: Drug Trafficking with Bitcoin in India
Post by: BTCIndia on July 17, 2016, 10:13:26 AM
http://www.hindustantimes.com/india-news/in-a-first-narcotics-trade-detected-via-darknet-bitcoin-in-india/story-5n5MDRe9gqhPAnRMQ9oouJ.html

I wonder, which exchange(s) is going to probed?


Title: Re: Drug Trafficking with Bitcoin in India
Post by: philiveyjr on July 18, 2016, 10:09:27 AM
http://www.hindustantimes.com/india-news/in-a-first-narcotics-trade-detected-via-darknet-bitcoin-in-india/story-5n5MDRe9gqhPAnRMQ9oouJ.html

I wonder, which exchange(s) is going to probed?

Could be anyone, I am just scared that exchanges might be required to give up all the information on the users. Sometimes in cases like these even localbitcoin traders wound up being probed by just buying or selling to people involved in illegal activities.


Title: Re: Drug Trafficking with Bitcoin in India
Post by: jayguar on July 21, 2016, 08:32:13 AM
Very disturbing news. Just another opportunity for haters to throw a stone at BTC. Hope the innocent users don't get caught in the loop.


Title: Re: Drug Trafficking with Bitcoin in India
Post by: utkarshm on July 23, 2016, 10:30:08 AM
Thats really bad news for india and as well as bitcoins.
We want our country india and bitcoin to be popular in a good way not like that.


Title: Re: Drug Trafficking with Bitcoin in India
Post by: @prashant on July 23, 2016, 11:15:33 AM
I also seen this news.now ppl are using btc as means of drug payment and especially in india,it will lead to decrease the trust in digital currency in india.
I also came to know that some illegal log supply is also done using digital currency.


Title: Re: Drug Trafficking with Bitcoin in India
Post by: masakali on July 24, 2016, 11:16:57 AM
Every business has its share of illegal users apart from the normal legal users like us. For eg, some guys like escrow.ms have already been caught for using bitcoins to steal from credit cards of other countries. (this was in the new earlier this year)

Terrorism financing/ drugs/ etc are nothing new for the police, for years they have been financed by fiat currency by gundas and dadas and even bollywood mobsters and now since bitcoins is picking up, they will continue to use both fiat and bitcoins for all these illegal purposes.

As long as we traders are honest there is nothing to fear.


Title: Re: Drug Trafficking with Bitcoin in India
Post by: susila_bai on July 24, 2016, 12:16:34 PM
Every business has its share of illegal users apart from the normal legal users like us. For eg, some guys like escrow.ms have already been caught for using bitcoins to steal from credit cards of other countries. (this was in the new earlier this year)

Terrorism financing/ drugs/ etc are nothing new for the police, for years they have been financed by fiat currency by gundas and dadas and even bollywood mobsters and now since bitcoins is picking up, they will continue to use both fiat and bitcoins for all these illegal purposes.

As long as we traders are honest there is nothing to fear.

totally agree with you that their is always good and bad features of all things why even you can take gold is also used for illegal activities so does it then belong that gold is only for illegal use their u can see the good feature as used in ornaments and etc., the same way bitcoin if used properly is very good with full security features.


Title: Re: Drug Trafficking with Bitcoin in India
Post by: altair09 on July 24, 2016, 12:17:57 PM
Thats really bad news for india and as well as bitcoins.
We want our country india and bitcoin to be popular in a good way not like that.
Ya right always the name of india comes in something bad and now with bitcoin related its really dissapointing.


Title: Re: Drug Trafficking with Bitcoin in India
Post by: philiveyjr on July 24, 2016, 01:36:53 PM
Thats really bad news for india and as well as bitcoins.
We want our country india and bitcoin to be popular in a good way not like that.
Ya right always the name of india comes in something bad and now with bitcoin related its really dissapointing.
Thats not true, Bitcoin being used in drug trafficking isn't a problem only in India, but rather all over the world. Bitcoin is used in almost every other country for drug trafficking along with other illegal activities.