Bitcoin Forum

Because of the semi-anonymous nature of Bitcoin, it’s used in ransomware attacks. Hackers breach networks and hold them hostage until payment is made to them. Hospitals and schools have been victims of these types of attacks. However, unlike cash, which was favored by thieves in the past, Bitcoin always leaves a trail in the blockchain that investigators can follow.

Tracking bitcoin transaction is becoming easier. The rest depends on the regulations of the government.

I think dark uses of bitcoin are going to continue but not rise significantly. There are more privacy focused coins that they can use, and it seems monero is the weapon of choice. I think bitcoin will continue as ransomware however as it is easier to buy via coinbase

Ransomware has aggravated the argument about bitcoin, nothing is impossible. and FIat has been used for crimes such as extortion, illegal trade and other crimes.
we need strict rules and laws.

Bitcoin is favored by thieves for ease of transaction, and in fact thieves should be easy to investigate because bitcoin has a decentralized nature that makes it visible to everyone and can not be manipulated by anyone.

Although many combat thieves are bidding for payments via bitcoin which is now famous, but I understand that it is not the ultimate goal for bitcoin, but with a decentralized system we can more easily track down the blackmailers.

I think Bitcoin is certainly used to extort people as with any currency. There will always be people that act maliciously, and that doesn't change just because the currency they use is Bitcoin.

All transactions on Bitcoin's blockchain are public though. So its possible for these people to be traced if they transfer their coins to an exchange that requires personal information. However, they're probably smarter than that and avoid letting their real identities known. 

Although bitcoin transactions are public, they can make the flow of money untraceable.

BTC address belongs is anonymous, and due to the currency of decentralization, the characteristics of globalization, law enforcement is unable to check the currency address of the owner, nor seizure freeze BTC address, thus become criminals new blackmail tools, BTC blackmail is given priority to with cyber crime at present.

Thieves have now sought the opportunity by using bitcoin as the currency used for ransom by thieves to their hostages.

Bitcoin can be used in a lot of ways since it is a currency online. It all depends on a person how he must use it. Bitcoin is made to be a medium of exchange and not to be used by criminals. But sad to say that people are just stubborn and have find a new means of extortion by means of bitcoin.

They say that bitcoin can be traced using blockchain but it is just difficult to trace them since they can just send it to many addresses and sometimes they place it on a gambling site or an exchange to whitewash their bitcoin.

It is undeniably that Bitcoin can also used for illegal activities because it is very hard to trace every transactions, but we should think about this first, there are lots of cryptocurrencies which offers untraceable transactions which can also catch the eye of criminals (like monero) and we have seen a lot of criminals gets caught by using Bitcoin doing bad things and this brings Bitcoin to the good side and those coins to a bad side. It is also easier to track Bitcoin transactions when we use centralized exchanges which allows you to convert it to fiat currency. But one thing is for sure, anything in this world that has a value, will always be used on illegal activities.

It can possible used in that way because blockchain is an open ledger which anyone could look at but I think in any currency it is possible to extort people it would be a case to case basis. Just have extra caution when transacting or using your bitcoins.

Although wallet address has no name and irreversible, still we can track it through public ledger (blockchain), and then we can used this (https://www.chainalysis.com/), its a software to track bitcoin address to track cyber criminals.

So if the hackers think they are safe, they are not. If government or agencies works and cooperate with other bitcoin tracking software, they can easily caught those hackers. So I think hackers should used more privacy coins and not bitcoin. So at least remains fully anonymous.

Bitcoin has a business problem -ransomware. So buying the currency has a  form of short- term protection though secured against attacks.

if the idea that bitcoin is to blackmail the person is wrong, bitcoin is used for working materials, bitcoin is good for use by society and bitcoin will develop in the future.

It's hard to understand. We live in such a world that it is cruel. People are killing each other for money.
Good things are always badly used in the name of humanity. It's hard to understand.
Some are using bitcoins to make money, others are trying to defraud people.

Criminals will always be there. And they will try doing these. I'm convinced that if they receive Bitcoin at least there will be a tinny trail behind. And then again, you got a gun, it’s up on you whether you wanna fight crime with it or kill people. Intention is the main issue.

It would leave trail? No, because there are bitcoin mixers and privacy coins on exchanges that they can use very easy.

The good thing about bitcoin is the technology it uses blockchain. by using this technology it will be very difficult for criminal acts to remove their traces when they commit crimes

Before bitcoin has been popular because of those illegal usage by those shady people, because they think it would be harder for the authority to track their trails, that is also one of the reasons why most people are afraid of using bitcoin, not only because it has been relatively used by illegal means but because of the risks involved. For now tracking down the trails are a bit easy and i think there are not much shady transactions occurring currently compared to then.

Menurut saya tidak gan,karna bitcoint adalah pekerjaan secara online,justru bitcoint bagus di gunakan oleh masyarakat sekitar,karna bitcoin bisa merubah nasib seseorang yang lebih baik untuk masa depan yang cerah

It can indeed happen, which is often done by Sandra at this time, they usually prefer bitcoin as a means of payment may be due to the ease of existing in bitcoin transactions.

This is what i am afraid off but it doesn't discourage me it only made me regretful that a good system is being used to extort people. I hope they can police this people who are doing bad things in crypto world.

who is that sandra youre talkng about? They maybe used bitcoin because bitcoin is fast and anonymous when compared to fiats although fiats can also be used when doing illegal activities such as extortion. Also , criminals prefer to use bitcoin because bitcoin cant be charged back or irreversible after paying someone , not unlike to paypal , payza , payooner or any other payment methods online. Bitcoin doesnt also uses credentials or important infos before or during you make a transaction. Those are few reasons why bitcoin is the best for illegal activities.

I think, the point here is to become too strict on how coins are being used especially in tracking where and when it is being used. Such scams should be stopped or else people will lose interest in bitcoin. Strict regulation must be obeserved.

Bitcoin is not used to blackmail people, and if there is extortion and charging with bitcoin, it is actually very easy to trace, due to the nature of the decentralized bitcoin.

The hackers undermined the network seem to be an organized and premeditated action. Although hackers require that attacked users need to pay bitcoins to unlock hacked files, I think that hackers are actually being used to buy and use bitcoin as an aggressor.
Bitcoin was used by the bad guys.

Ransomware has aggravated the argument about bitcoin, nothing is impossible. and FIat has been used for crimes such as extortion, illegal trade and other crimes.
we need strict rules and laws.

I think not, but it is the nature of the individual about the mechanism of extortion technique by means of crypto transaction.
I do not know why many people use the excuse that bitcoin is often used for crime or drug deals. in fact, the individual himself is the source of the evil.

I don't think so bitcoin really extort people but I also think that somewhere it is been done. And by the way, there is no need to worry about hackers because now we can easily track the bitcoin transactions but I think ransomware attacks have created doubts and fear in everyone's mind that anything is possible to hack in this world. This has been discussed among the government circles for many times and i think we need highly strict and secured laws governing the bitcoin.Let's see how secured the bitcoin will be in coming time.

No hacker works for the good except the hacker works for the government or one of the security companies. The hackers make us dizzy with everything they do, only the losses they incur. When they begin to blackmail us should not give what they ask because if we give no guarantee when the money will come they will not do the same.

in my opinion whether bitcoin can be used to blackmail people? it depends on each individual. if the person being squeezed know every detail of bitcoin, how to get it, the way of the transaction, its security, i think it will not happen. smart people will always fool a fools, then from that we should always learn about progress world.
  I agree about Bitcoin always leaving a trail in the blockchain that can be followed by investigators. The investigator can also trace it through the ip address of the user's device of the transaction because before the transaction there is always a conversation between the two parties.

depending on the person using bitcoin, bitcoin can be used by everyone even can also be used in criminal action. it is precisely this online nature that people easily take action extortion and fraud that harm to others. bitcoin is also anonymous so we will not know who that person's identity is.

It is possible to track transactions, but it is impossible to know the personalities who participated in it. Attackers can claim or extort the keys and only users whose identity they know.

Who's gonna enact and make the laws, when the crypto market is not even regulated and there is nobody to put a control upon it. In fact there are many countries where they are not even ready to accept the bitcoin and other crypto currencies. Both the crypto assets and the fiat are being used for undertaking the crimes, and illegal activities. But the nature of transactions in the crypto market is anonymous. You can be traced but your identity is known to anyone. SO the problem of finding the defaulter still persists. The use of the bitcoin for the ransomware activities is not going to decrease anyway what I think! Probably the proportion of the population doing so will reduce as there are more people in the mainstream population who have become the part of the bitcoin community undertaking only the legal activities.

Grow with time or time leaves you behind, thieves, hackers have grown smarter than before. Tracking bitcoin is not that easy, plus the person identity remains safe, then the possibility of growth in returns is also extra incentive. With cash people can give fake money but with bitcoins you can't do that. However there're very few cases like this being reported.

This is the main argument against adoption bitcoin as a legal tender especially from government circles.
It is becoming relatively easier to track bitcoin transactions especially if they eventually cash out through exchanges which normally would require KYC procedures of the user.Bitcoin is certainly a tool of choice to extort people who want to remain in the 'dark'.

BTC is not for extortion, but for extortion. Because of the anonymity of BTC, such sources are not easily queried, as are the same XMR and dash.

I think the use of Bitcoin dark continues due to some misery but is not growing significantly. They have some unidentified currency that they can use. bitcoin will run as ransomware and it will be easy to buy through coinbase. So I think Bitcoin used to extort people.

In this type of time, the use of XMR or DASH will make tracking more difficult, and the proportion of the two coins is increasing in the use of dark networks. Of course, the use of bitcoin to pay ransom is not the problem of bitcoin itself, but the motive of people who use this method.

I also do not see any connection between Bitcoins and extortion. BTC is the greatest cryptocurrency that can change the world for the better and help many countries to improve their economy.

Although it will be said that it a decentralized system and transactions can,t be control by any one but it dose not mean that it used for fraudulent transactions all time.

Every other financial system are some time instrumental in the hands of thief's who always manipulate the system to favor they own personal criminal aims, but even at that bitcoin technology is very hard for any body to manipulate it due to it high tech security software which always make it almost impossible to be manipulated and if any of such happened it most come through the holder of such account.

Invention of bitcoin is a boon for the humanity as it has enormous advantages but there is very old saying that if you have a single bad habit then people will judge on this bad habit only and they will underestimate all your good habits and same is with bitcoin, bitcoin has several advantages but due to its decentralization people are now not considering it trust worthy and decentralisation is the reason some social defaulters are using it for illegal purposes such as ransom killing, terrorism but not to worry only centralization is required to make bitcoin very successful without any disadvantages.

i don't know about anyone else but in this situation this a positive for me , no matter what we come up as a means of exchange these criminals will always find ways and means to use it to do their transactions but as can be seen these payments and transaction can be followed all you need is someone with the time, motivation and the right set of tools.

If you think bitcoin is being used by the darkweb. I would agree for it but there is no attack on blockchain firewall or bitcoin wallet. There is not possible to hack the wallet at all unless you are a careless person in giving security for your private key.

There are people looking to invest the fund bitcoin and altcoins all the time but fake news spreaded like hacking attack over various exchange and many places still not give the tx id of the transaction has been taken out.

yes it can be use to extort someone because of it anonymities features which mean I can hold an important thing you need and tell you to send me 2BTC before I can release it. and if this is paid the person might not be trace like using some other payment method which can be centralized and the fugitive can be traced easily be the person that is dubbed.also this same factors make money laundry feasible using bitcoin but many block chain based platform now conduct kyc verification to prevent money laundry charge

Bitcoin transactions are becoming increasingly easy to track, so it would probably be a poor choice in the long run to extort people using bitcoin. Technically I'm not sure it's actually illegal though, as many countries don't even recognise BTC as an asset, and certainly not legal tender. I wouldn't say BTC extortion happens anywhere near on the scale that cash extortion does.

I do not think this is true, and it is impossible, because Bitcoin has a good system of work and safety. If this happens, of course this is a crime !, and this should be anticipated soon !, because this will make the name Bitcoin back bad. I hope no one has done this kind of thing, because of this Bitcoin for the welfare of all people in this world to be better in the future.

Cant you still remain anonymous if you are extra careful not to link up accounts and then by sending your coins into a mixing service? Is this not the technique they use?

if bitcoin is perceived as a blackmailer. that is not true and impossible. because investing in bitcoin there is no loss if we do not rush to sell bitcoin that we have when the price of bitcoin again down. if if the price dropped from my purchase price. then I remain patient waiting for the price to rise again. if i have the capital i buy bitcoin again. if not forced to be silent watching and seeing without investing .

It is very possible for bitcoin to be used to extort, scam and do fraudulent schemes to people. Yet, we cannot determine who are doing this, because of the user's anonymity there is in this system. People, with this kind of intention, will take advantage of the attributes of bitcoin like being decentralized to exploit things that would benefit them from letting other people be deceived into their wicked schemes.

Bitcoin is a weapon of choice of a user either to do good and be fruitful or to do actions that would result into prosperous success yet a fall down, broken heart and dreams for other people.

That's a big mistake. Bitcoin is an online job where good bitcoin is used by the surrounding community because bitcoin can change a person's better for the future. 8)

Hospitals and schools? Where did these crimes happen? This is the first time that I heard of such incidents. I only heard about the case of HBO's hackers who got very important files from the network even the script of Game Of Thrones, held them hostage until their Bitcoin ransom demand is paid. Yes, everything is recorded in the blockchain but it is definitely harder to trace them rather than with fiat.

Behind this incident, it turns out I can take the lesson that is, because there is a ransomware attacks that carry bitcoin in the action, bitcoin become better known by the public.

I believe in the future there will be a way to trace any fraudulent account or anyone who use his btc account to do any illegal transaction will be red flag  from their system

That is not possible to happen in a country where there are many criminal elements such as kidnappings and ask for ransom where payments should be done using cryptocurrency like bitcoin. In my opinion, countries that are technologically advance may happen to track down and get rid of this criminal elements using cryptocurrency technology.

let's do for bitcoin blackmail to do it is still too far and long because bitcoin is also not fully recognized by the whole country as a means of buying and selling or financial transactions directly, so the question is what might happen and do

I think bitcoin is being used in crime even before especially the time when technology is a little bit undeveloped. Since bitcoin is decentralized it is not owned by any countries to keep track of records and criminals would be hard to trace because of proxy server to hide their IP addresses. Criminals now favors now bitcoin more since they can do it anywhere than the usual fiat currency where they need more people to organize regroup and do their operations physically.

These schemas was for along time before bitcoin created.
Bitcoin is one of the instruments but not the reason

I mean there are many kinda people using bitcoin, it's true I think some people using bitcoin to extort the another people. But there much more good people using bitcoin for their bussines and transaction, so you need to choose which kinda system do you wanna use for using bitcoin.

bitcoin is a digital currency so bitcoin is free to use for anything but if it is done for things like squeezing people then it is a bad action because memnafaatkan technology to do evil.

Being anonymous have its pros and cons, it gives us freedom on how to use Bitcoin and other people are just using its anonymity in evil ways.

 

Yes I agree regardless if Bitcoin/block chain was invented or not scammers/crooks are going to this.


I do not think this is going to happen, there will be a lot we need  to sacrifice if this is going to happen.

Do not blame Bitcoin. I am sick of hearing this kind of news that seems to corner Bitcoin. In this case, I take the positive value only. That shows that Bitcoin is convenient to serve as a tool for transacting by all circles even by criminals though.

Yes, Bitcoin is not used to extort money from others, Bitcoin created for the purpose of fast transactions, reducing costs, so there is no reason to say that BTC is a hiding place for criminals.

Anyone would use the payment method which is convenient for him so blaming the payment system for any illegal activities doesn't make any sense. We recently saw the case about the women caught while sending the funds to ISIS through Bitcoin and that's the benefit of the digital payment system and since it is decentralized, no one can manipulate it.

Here in our country in the Philippines,  there was this recent news about this Bitcoin Scam where a group of scammers will offer you to invest money to them and then after 16 days you will get plus half of the money you invested. It was called the NewG Company headed by a certain Arnel Ordonio and his wife, Leonady. They made NewG Company and promoted Bitcoin as their form of payment to lure their victims which are mostly rich people who wants to earn double amount of money they invested. How much money did they get from scamming people? 900 Million Pesos. That is a very huge money here in the Philippines. Luckily, they were arrested and now detained in Camp Crame, Quezon City. Their investment scheme was very similar to a pyramiding scheme wherein there was an upline, or the one who asks people to invest, and a downline, the one who invests. Be vigilant and be secure about our money.

Hackers use extortion software to do this. Hackers can actually choose to use VISA cards or cash to pay. Of course, using bitcoin payment will bring great convenience to hackers, but the blackmail is not a bit of a bitcoin. Bitcoin is only one way, and we should see more benefits that bitcoin can bring to society.

Of course I would turn to ask if Bitcoin is used to blackmail all the people or its users, I have not seen any such case, if it exists, not because of its bitcoin but to the lax and their ignorance about bitcoin, and finally taken advantage of by people inhuman ...

Bitcoin can be used not only to extort people, but to commit other crimes also. But we can't blame btc, it is just payment system. People are those who did it, not bitcoin

Yes it can be used to extort people because bitcoin is same as real money but it is anonymous that why is it the best tools for criminals nowadays, in fact it is been used before and until now to extort and scam.

Anything that has value and can be used for financial gains will definitely attract criminals. This is why we see several financial crimes today and  bitcoin and other cryptocurrencies are not exempted. To a very large extent, bitcoin transactions can be traced and if the culprits decide to route their withdrawal through an exchange, they can be nailed because the exchanges require KYC to sign on users.

There are people who use Bitcoin for good purposes, and there are people who use it for malicious purposes.
If a person has bad intentions, he will misuse everything.
There are people laundering money using bitcoin. Crypto money transfers can not be tracked. That's why governments are against it.
I find it very important in terms of technology and future crypto money.

Tracking bitcoins is not as easy as you might think, plus any person's identity will remain secure, so growth in returns is also an additional incentive. With cash people can give you counterfeit money but with bitcoin you can not do it. However, there are very few such cases reported. 8)

Tracking Bitcoin transactions is the most easy thing to do, and everyone can do it. The far majority of the people enter the market through centralized exchanges where they have verified themselves at. In other words, people's identities in most cases are not 'secure' or private at all. If the exchange hands over its data to the authorities in case they ask for it, you'll be busted for sure. Coinbase's case was an example of how the authorities are trying to give a clear warning to everyone using exchanges. It's impossible to avoid the authorities in these cases. Bitcoin's anonymity only exists in people's minds due to how the mainstream media keeps brainwashing newbies.

Well, I would certainly not say, bitcoin is a good and convenient coin, which is used by a lot of people, where it is of course allowed, as well as I remember the opinion of a good coin.

I would agree with that. So many cases where people have demanded money in bitcoin to extort others

Precisely because bitcoin is semi-anonymous, it is relatively rarely used by criminals. By tracking transactions, you can easily go to the exchange where criminals can leave their data, or simply calculate their IP addresses. I read recently that such a probability now exists and while they are considering options, how can this be removed.

this is what I really admire about Bitcoin, we can trace wherever Bitcoin is because all transactions are recorded in Blockchain.
even when Bitcoin will be converted to conventional money through the Bank, its owner can be traced...hopefully, the governments can think of this, the positive side of Bitcoin and Blockchain.

They have an unknown currency, which they can use. Bitcoin will run as ransomware and will be easy to buy through coinbase and I think bitcoin is used to squeeze people. 8)

meh, bitcoin have an anonymous system that can make people don't know who the person behind who giving an address and that using some unresponible people to getting advantage of it for their own profit

It is but so is any other currency. If people are able to use something in crime they will do it. It's not something new.
Bitcoin is using to extort and squeeze because it's money and criminals being the most innovative group right after startup investors are quick to learn about its possibilities.
We should learn to adapt to the circumstances instead of whining how this or that is bad.

The fact that Bitcoin is used in illegal activities means nothing - fiat is used way more than BTC, yet no one makes a big deal out of it. We shouldn't stop the progress because some wicked people would benefit from it, if people were doing so, we would still live in stone age.


Mixing makes transactions pretty hard to trace, so chain analysis is usually used only in big investigations. Also, there are some developments that can potentially add new privacy features to Bitcoin, meaning it will be nearly impossible to trace transactions. I think that honest people would benefit from it way more than criminals, so it's not a problem from moral point of view. The government might use is as an excuse to attack Bitcoin, but that's another topic.

Yes. Because of the incognito mode, they have extorted money through the BTC, and now I do not think it can make BTC go out of incognito mode. They move from one person to another often.

Just like cash, Bitcoin has gained flexibility in terms of its usage. Unfortunately, it has also become a tool to bribe or force people into doing something. Dark forces will always be around to seek for ways in order to enforce their objectives. And Bitcoin has become one of their weapons!

Yes, as cyber criminals do, with Bitcoin being a decentralized currency, one can make transactions without intermediaries such as banks or other financial institutions, this lack of intermediaries makes bitcoin users gain anonymity and uninterrupted level of confidentiality third-party hands. Bitcoin is often used by ransomware hackers, a type of malware or virus that takes windows based computer data, then they ask for ransom, which is sent via Bitcoin.

Extortionists accept bitcoins as ransom payment. I don’t have any idea on how bitcoin can be used to extort people.

In my opinion, it depends on who does it, if you are making negative words, if we are good people, we will not do that .. However, bad guy, he could have done that ..

Although bitcoin address has no name association, it doesn't mean that you are complete anonymous. They can still track everything on blockchain. If criminals is going to take advantage of crypto, bitcoin is not the best suitable coin to hide their money.


Its because bitcoin is now a household name. The price skyrocketed and criminals prefer it as a ransom or sort. Its been taken advantage of criminals that's why we witness how government dislikes its decentralize nature.

That is the highlight of btc that many people have liked about this point. In my opinion, we should be careful above all, because the BTC anonymously should attract many people to invest. They are free to hold the BTC because they do not have their identity revealed

Yes bitcoin can be usesd o extort people if that certain person will easily believe scammers that doesn't show proof of evidence asking bitcoin to you then anyone could be a victim specially in doing transactions without legitimacy.Anyone could be a victim and everyone must be wise and vigilant.

if anyone thinks that bitcoin is created to blackmail that person is not right.
the reason I name it blackmail it should be no compulsion. while the bitcon is present to us there is absolutely no compulsion to invest in bitcoin

Yes, it definitely happens. Bitcoin has made ransom deliveries even easier and more untraceable than ever for criminals because at the core of cryptocurrencies are a decentralized network of computers that collect no personal information about users. Unlike the days of duffel bags and briefcases filled with bricks of ten thousand dollars stacked a hundred at a time, Bitcoin payments can be made without an in-person meeting.

People can use any kind of currency to extort others. I think with bitcoin, it has kind of become easier.

Authorities have had trouble estimating the exact number of victims because many do not report their problem and quietly pay the price. The Federal Bureau of Investigation said it had received 992 complaints related to just CryptoWall alone between April 2014 and June 2015 with losses totaling $18 million. This figure does not include plots involving other programs.

As long as it involves money, there will always be people who will go out of their way to take advantage of others. Sad truth.

yes, this is a pitfall of bitcoin, but I believe it's possible to sort it out. There are already ways to track it, as it's purely transparent network. The questions are how to actually catch the people who you can track?

a great deal could be that way because blockchain is a great book that can be used to know for people who will be case by case. Just need to be extra careful, on every transaction or use bitcoin.

This is not a good idea if bitcoin will be used to extort people, because its been a long time bitcoin has given great opportunity to people who always think profit. Maybe there were some situations that other evil doers used bitcoin to attract people for investments, doing so called partnership which isn't a safe way to trust those middleman who promised a ghost profit. However to those who planned bitcoin investments, its recommended to have it personally and avoid being cheated by those strangers who wanted to take advantage from us.

Law enforcement authorities have difficulty estimating a very certain number of victims mostly not reporting their problems, secretly paying the price. The Federal Bureau of Investigation informed that it had received 992 complaint information related to CryptoWall in April 2014 and June 2015 with a loss of $ 20 million. This figure does not include plots involving other programs.

I think not, but it is the individual nature of the mechanism of extortion technique through crypto transactions. Why do so many people use the reason that bitcoin is often used for crime or negative transactions. in fact, the individual itself is the source of evil. When they start to blackmail we can not give them what they ask because if we do not guarantee when the money will come they will not do the same.

Bitcoin is very rarely used by criminals to perform various operations with an illegal purpose. It is estimated that for illegal operations it is used in less than ten percent of cases due to the fact that it is not completely anonymous. Criminals use more fully anonymous coins such as Monero, ZCash, Dash. That's why Japan wants to prohibit the use of these coins.

I agree probably before they are using Bitcoin but as of date there are more coins in the market that are fully anonymous.

Also even though we know that this scumbags are using Bitcoin and Altcoins we should still see the big picture, Bitcoin will help transform financial institution.
As well  criminals most of the times are still using more FIAT to do their dirty work.

Unfortunately, there are people who use bitcoin for illegal activities, not an opportunity that's probably why bitcoin is forbidden in some countries but as far as I know, it is now easier to track people who do bad deeds.

Of course, it is! For exporting people, for terrorism, for minor crimes ad so on. It is digitize, but still money. So it is obvious. But we shouldn't blame bitcoin, people do it, not cryptocurrency itself

A well organized organized action. Although hackers require that attacked users need to pay bitcoins to be able to open hacked files. Actually, hackers are used to buy and use bitcoin as an attack by bad guys. 8)

I like the latter statement. The tracking feature helps to trace whichever wallet transactions has been made on (a potential move to track thieves/hackers).
Bitcoin is designed purposely to enhance payment methods and revolutionized the old financial transactions thereby giving the power back to the people in the form of owner controlled transactions, security, speed, trust, and low costs for transactions.

Bitcoin can be also used that way. Yeah bitcoin transaction leaves a mark of transaction but the users can not be identified their so it is still anonymous
And bitcoin should not be the one to blame but the people who are using it.

The original purpose of the invention of bitcoin was to be free from any regulation and control, which was the work of anarchist over the years.

It is not appropriate for bitcoin to become a tool of crime.

I felt more than bitcoin and did not feel the slightest bit of extortion of myself by bitcoin. this may be the case with some of the related marriages that are exposed to the problem of hackers or any kind of bitcoin-related slump.

With the growth of technology in this century, has been widely misused by someone to commit crimes in the world, now crime can be done anytime is not based on time and opportunity but based on expertise.
Lots of potential frauds committed by a person to gain wealth from the anonymous bitcoin properties, ranging from Hacker, Ponzi scheme, ransom money hostage and so forth.


It seems correct, but it's impossible the government will move to defend the victim because bitcoin itself is created without existence regulation from the government.

Well we know that bitcoins leaves a trail that anyone can follow but hackers and thieves are very smart and they can always try some strategies to try to confuse investigators somehow, to be honest I do not remember that any hacker that released a ransomware was arrested because of it, it will be interesting to know if someone knows if a hacker has been brought to justice

Such people will destroy the reputation of Bitcoin.
Blockchain-based Bitcoin technology makes it easy for cybercriminals, with the operation of Bitcoin as a decentralized currency, people will easily make dark transactions, because this transaction has no intermediary.

I think that people should think before act. There`re so many bitcoin haters that it`s hard count all this topics...

Bitcoin transcation is unpredictable. No one know,to home you had send the bitcoin. But I won't accept only bitcoin is used for mal practice. Do you think dollar transcation was not involved in terrorist activities. Dollar transcation is also involved in such activities. By this can you say dollar is not good for society.

It seems to me that any kind of money can be used for bad purposes. This is not only bitcoin, it may be Fiat

No, fiat money is used to extort people. Now are you going to stop using it or ban it? Yes Bitcoin leaves a trail but catching someone based on it isn't possible unless they used an exchange, otherwise no can track them if they sold it for cash. And let me tell you that no one is stupid enough to sell it on an exchange.

Some transactions can be attacked because it's not completely secure

Bitcoin in its early days was used mostly by deepweb/darkweb users as it was an easy and more convenient way to send money where none have to give any personal details like name, a/c no. etc. Also a very little number of people know about it. So it was an easy way to send money in btc form for illegal stuffs. It people who made btc look bad by involving it in some really bad activities. BTC was created with a good vision almost 10 years ahead from people starting understand it and world accepted it.

I don't know of any case when investigators in this way came to criminals. Except for the Silk Road, of course. I think now criminals do not use bitcoin, but use anonymous cryptocurrencies: Monero, Dash and others.

Yes. Hackers usually, with the use of the virus that has a ransomware use bitcoin to extort people. Simply because it cannot be traced. Bitcoins has lots of advantage but has a disadvantage as well, just like to extort or ask for money with other people.

Bitcoin extortion is not only being done by ransomware hackers but it is also done by government authorities. There was even a case wherein a cop was charged of extorting 1.3 million dollars worth of bitcoin.  According to a coindesk article here is the story "The Crime Investigation Department (CID) in the Indian state of Gujurat has accused 10 police officers of kidnapping, attempted extortion and corruption after they allegedly abducted a businessman and forced him to hand over 200 bitcoins."

This is just sad that those who did it are the police who are enforcing the law. If you want to read more I will place the link of the article below.

https://www.coindesk.com/indian-police-officers-charged-1-3-million-bitcoin-extortion-scheme/

Yes this is easy to use and track.

Bitcoin is not my best idea because I have not used Bitcoin at all, but there are more privacy printed coins that can be used by foolproof ones, and it seems to be the weapon like monero choice. I think bitcoin will run as ransomware though it is easy to buy through coinbase

Bitcoin never applies force to the people. Those who work on bitcoin know that. We know bitcoin who use money as needed. And those who work properly here will be successful and those who will not succeed.

Criminals are also making their progressive development on how to catch up with the security that technology is bringing to the public to secure their wealth and property. But, I am sure that blockchain technology is ready for hackers and on line extortionist, Since it is a systemic technology with tough encryption security, it is somehow tougher to infiltrate, and have precautionary measures in case of breach.

This things require more experience, the guys who needs to complete things anonymously, will find a way to perform that

Tracking of Bitcoin user or transfer is now easy for the government since you know, many crimes is involve with the usage of Bitcoin so I think this past year they develop some programs to track wallet owners location if this account is involved in big crimes.

social jealousy is everywhere, people who do bitcoin squeezing may not be able to earn big money from bitcoin, therefore they commit crime through bitcoin.

yes i agree with this, maybe governemnt in all country in the world can make a policy about the exchanger in their country use KYC to make sure their costumer, so if something happen with suspicious address government can track it from the exchanger that they registered

It is very possible for the bitcoin to be used as an ransom since it doesn't give any records to any transactions made because of being anonymous. We are aware that bitcoin is also being used in an illegal sites patricularly in the deepweb. But lets not just blame all the illegal things in bitciin and we know that fiat money is also being used to many illegal activities. Fiat is also being used as a ransom.

Hi there

There are quite a few instances of insidious people using the anonymity of BTC to buy things that would normally be deemed incredibly illegal, extort people etc. These are some of the concerns that government institutions continuously bring up as consequences of BTC but tracking or catching such individuals is getting easier and will probably get much easier as the government regulations that are being spoken about are brought into play

You talk alot of hearsay but you didnt even bother to put atleast links about whats your sentiments here,how did school and hospitals been victimized?and by whom,those hackers?in what point ,dare to share some proof?

Youre crying like a cow here but what issues you putted wasn't even exist.i dont buy this topic unless he will provide some supporting links here

yes indeed sometimes there are people who abuse bitcoin as a negative thing when this event is very damaging the development of bitcoin in the future, so hopefully the bitcoin future can grow again and the hackers can be destroyed by the government.

is Bitcoin used to blackmail people? No

now bitcoin gives me the greatest advantage I expect, and huge profits can be made for future savings, because what is promised is all there is, as the greatest guidance I now get from bitcoin, bitcoin is undoubtedly, when compared with others, but according to what I think is not the only Indonesian who believes bitcoin, many outsiders believe that bitcoin promises great benefits, even by hearing bitcoin japan being used as a medium of exchange.

No, bitcoin not use to extort people because they are not a illegal business in field of in this industry
because they are very well known business in different country and at the same time useful to the investors to gain a huge amount of income.

Bitcoin is certainly used to blackmail people just like any other currency. There will always be people who are malicious, All transactions on Bitcoin blockchain are public. So it is possible for these people to be tracked if they transfer their coins to an exchange that requires personal information.

To solve these, we need KYC and AML integration - and fyi, fiat, gold and everything that has value is being used for criminal activities since the day they were born - but you guys are only to blame bitcoin!

If you are smart enough, it will never happen

This is the major problem with anonymity. There was a kidnapping in South Africa recently and I heard the criminals demanded to be paid in Bitcoin before releasing the victim is released. I think if the trail can be traced on blockchain it will be a good way to nab miscreants.

There is a high possibility of bitcoin used to extort people, specially bad guys who ingage bitcoin, they are same like scammers, they want instant money.

You do have a point because if you really think of it, it is traceable for as long as they can track the blockchain. They would know how much and where the transaction was sent through, I mean to what bitcoin address it was withdrawn to.

It is undeniably that Bitcoin can also used for illegal activities because it is very hard to trace every transactions, but we should think about this first, there are lots of cryptocurrencies which offers untraceable transactions which can also catch the eye of criminals (like monero) and we have seen a lot of criminals gets caught by using Bitcoin doing bad things and this brings Bitcoin to the good side and those coins to a bad side.

Well, no, I would certainly not say, because it is not so, this cryptocurrency is really expensive, but still in its measures, so do not speak so sharply, because many people also use it and are looking for a plus.

there are some people who abused Bitcoin and can be normal back when those people want to do good with Bitcoin.

but Bitcoin transactions can be seen from Blockexplorer, and when entering local Exchange, just catch when there Bitcoin entered from the address for the blackmail.

bitcoin is a digital currency that allows users to transact in private or invisible, it is used criminals to transact with bitcoin in the form of crime.

Yeah it's not the bitcoin or the cryptocurrency has the problem we as people are so brilliant to find ways how to take advantage on the loopholes in every technology. Even the fiat money had been exploited with those types of people.

No they will not destroy the reputation of bitcoin what will happen is that the media is going to try to use that to destroy the reputation of bitcoin which is not exactly the same but it does not matter if bitcoin can resist the assault of banks and governments a few bad articles are nothing.

Bitcoin is preferred by thieves for the convenience of transactions, and in fact thieves should be easily researched, because bitkoyn has a decentralized character that makes it visible to everyone and can not manipulate with anyone.

 We live in such a world that it is cruel. People are killing each other for money.Good things are always badly used in the name of humanity

For me the use of dark bitcoin will continue but not increase significantly. there are many coins that focus on the privacy they can use. Some instrumental time in the hands of thieves who always manipulate the system to be able to support them have a bad purpose like personal criminals, even on bitcoin technology is very difficult for everyone to be able to manipulate it because it's high security software that always makes it almost impossible to be manipulated and if anything happens then most come through the account holder later on. 8)

        In the new era of technology people were misusing Bitcoin to claim ransoms from people with crypto coins as a pay off since Bitcoin is a decentralized network and there is no identity of the users is collected and the anonymity of the cryptocurrency it is used in ransomware attacks . I don't think  that only Bitcoin can be used for criminal activities only criminal activities have been operated with fiat currencies too we have seen several medias spreading news that using Cryptocurrencies are not good .

yes, really!
Its true
Avessome!

Money in general is used to extort people and bitcoin is money, you cannot change that.
It is hard to prevent people to use money in illegal activities, especially in the fact that one of the "advantages" and features of bitcoin is anonymous and easy to transfer.
The only thing governments to improve is its education on morality to discipline people and its justice systems  ::)

This gathered rampant abuse against ghe reputation of bitcoin to those cases that other criminals used bitcoin as their escape goat towards extortion. Good thing about it was other countries right now whose taking strong regulations towards bitcoin particular on their exchange sites. The activity was being scrutinized so that if ever there were complaints against those people doing fraudulent acts, can be traced directly and be subjected to punishment according to the law of authority.

Actually there are some situation that happens in this forum. If I am not mistaken there was a high rank member iin this forum a part from dt before that was proven who extorted some of the members. So basically yes there are instances that bitcoin can be used for extorting people

Due to the semi-anonymous nature of Bitcoin, it is used in ransomware attacks, it's a hacker breaking the network, holding them hostage until payment is made to them. Hospitals and schools have been the victims of this type of attack. However, unlike cash

You are right, because of the anonymity of bitcoin some people already used it to extort other people. We cannot avoid it, and maybe this is one of so many reasons why some governments don't like bitcoin.

Bitcoin has been incorporated into the regulatory system on a large scale, and hackers are not completely absent if they perform operations such as withdrawal and payment of Bitcoin within their collection address.
Of course, it is not realistic to think that bitcoin will not be used by criminals at all. It takes a long time to perfect!

and another one thin you should not forget, Bitcoin is partly used to purchase weapons by terrorism groups, but I wonder, why have they not tracked them down yet?

Bitcoins are easily transacted by thieves, and in fact thieves should be easy to investigate because bitcoin is decentralized to make people see and nobody can manipulate it.

for me bitcoin can also be used as a place to blackmail people like other currencies. even bitcoin squeeze is also difficult to trace its existence. because the crime is not because there is the intention of the perpetrator because there is a chance.

Hackers use extortion software to do this. Hackers can actually choose to use VISA cards or cash to pay. Of course, using bitcoin payment will bring great convenience to hackers, but the blackmail is not a bit of a bitcoin. Bitcoin is only one way, and we should see more benefits that bitcoin can bring to society.Anything that has value and can be used for financial gains will definitely attract criminals. This is why we see several financial crimes today and bitcoin and other cryptocurrencies are not exempted. To a very large extent, bitcoin transactions can be traced and if the culprits decide to route their withdrawal through an exchange, they can be nailed because the exchanges require KYC to sign on users.

this may not be through but out of every lie there must be element of truth. alot of people are using bitcoin to scam some people therefore am not saying that bitcoin extort people but people use bitcoin as a medium to scam others

Lots of extortion with Bitcoin.  Don't send it to anyone - they are trying to steal you.

Bitcoin is very rarely used by criminals to perform various operations with an illegal purpose. It is estimated that for illegal operations it is used in less than ten percent of cases due to the fact that it is not completely anonymous. Criminals use more fully anonymous coins such as Monero, ZCash, Dash. That's why Japan wants to prohibit the use of these coins.
I mean there are many kinda people using bitcoin, it's true I think some people using bitcoin to extort the another people. But there much more good people using bitcoin for their bussines and transaction, so you need to choose which kinda system do you wanna use for using bitcoin.

I think it seems like a bit of a bitcoin is in a dark place because it will continue to where. but it does not grow bigger. There are more rewards that follow the coins they can use, and it seems like an animal is the weapon of choice. I think bitcoin will continue as a good company for everyone. however because it is faster to buy through a good coinbase.

Yes, indeed, now bitcoin can be used for the sake of bad things, even towards the owner. But the law there is nothing largely can't help it, because bitcoin is not legitimate and he does not control.

extortion is the primary use for bitcoin

This one of the reason why government are afraid of bitcoin. This is also why some of the government ban bitcoin in their country. Use bitcoin in illegal transaction like that. But we can prevent this by making standard rules and regulations that abusive people can't abuse it.

It is not spoken of loudly, but I suspect that similar situations could have taken place. Unfortunately, Bitcoin as a partially anonymous and not very controlled form of conducting transactions is associated with certain dangers that must be particularly considered. It is worth checking out who we are dealing with before making the transaction and then making payments after checking if we pay a reliable person.

Actualy its a big no,and this is a wrong accusation that bitcoin can be used to extort people,because it is created by satoshi nakamoto,to makes a world better and a part of technology its can help economic growth  by means of capitalize country and promoting social economic responsibility and not to create extortion or scamming to the people,otherwise there are circumstances that some people or website used the name of bitcoin in order to extort or phishing.

It will be so sad if some will use bitcoin for selfish desires that would destroy other innocent people. Lots of people have been helped through bitcoin. I am hopeful that bitcoin will be for the common good.

So far as bitcoin is a standard  of deferred payment, it would be the best option for extortionist and perpetrators of illegal activities compared to fiat money

No , bitcoin had no properties or characteristics of extorting people , in fact bitcoin has done something that bitcoin holders can not forget ,when they grows old and remember the time the bitcoin has done for them.

But we cannot tell those bad people that using bitcoin to extort other people, bitcoin is a digital currency and all people can use it in good or bad way.

no .... bitcoin is done just to supplement income. bitcoin is no way to blackmail people. this bitcoin only has a way to get rich. The blackmailers can only act on the streets not in this block. Do you understand ..

later it can be caught by the perpetrator when saving the Bitcoin in Exchange.
because from Exchange always requires KYC for user data.

that is why in Exchange must always open KYC for registration.

Anonymous Transactions: It is a fertile ground for criminals around the world: money laundering, drug trafficking, and so forth.
There are more and more ways of fraud: revolve around this currency. In terms of currency, Bitcoin is not bad. In the form of mutations, the belief in bitcoin decreases

I've also heard news several times that bitcoin is used for negative transactions including extortion and fraud. They promise considerable profits by investing some money into bitcoin. Fraudsters usually do lure like doubling money and he extortion until the victim really loses all his possessions. Usually they do extortion or fraud in groups, meaning they are like playing a play in which certain parties are disguised and pretend to be important so that the victim easily believes. If the victim already has bitcoin then the fraudster usually seduces that their bitcoin is invested through the fraudster. Yeah, indeed bad people have a lot of reason. But I am sure if this blockchain technology is able to uncover who this fraudster is, even though its identity is difficult to know for certain.

Not just cybercriminals, but traditional criminals also switch to virtual currency. After large-scale ransomware cyberattacks with two ransomware WannaCry and NotPetaa, we already know that hackers want ransomware in Bitcoin format. But another form of crime is also turning to virtual currency: kidnappers. So many of the criminals claim that the Bitcoin transaction is completely anonymous, making it ideal for large amounts of money.

ex·tort
ikˈstôrt/Submit
verb
obtain (something) by force, threats, or other unfair means.
"he was convicted of trying to extort $1 million from a developer"
mga kasingkahulugan   force, extract, exact, wring, wrest, screw, squeeze, obtain by threat(s),

(Reference: Miriam Dictionary via Google)

------> I think it is possible that some authorities used bitcoin as a form of attack in which they are subconsciously monitor, manipulate and control people thru manifestation of moneys. Offering a lot of deal bears a lot of concentration to mass [people] and grab attention in this poverty. Therefore, the means to manipulate people is somehow critical in nature, but people will obviously grab which are tended to make them life easier.

Bitcoin has negative effects and positive effects on society, it will depends on how people using it. But for me, Bitcoin is really a negative effects on human. Because in Bitcoin, you can send payments without going to any banks nowadays, as long as you have internet connection.

It should be known that whatever has a certain value there will be people who carry out illegal activities or acts of crime for their benefit, including cryptocurrency or bitcoin. But with the existing technological advancements, of course every crime action will be known who the perpetrator is, bitcoin is a cryptocurrency that is quite high in price so that many people are interested in investing in bitcoin, bitcoin is something positive and useful and able to provide benefits for every user. because of the notoriety and strength of bitcoin which is quite large, so that there are people who take advantage of the existence of bitcoin for an act of crime and extortion, those people are the criminals who use bitcoin, so that it can damage the good name of bitcoin.

This is a confidential issue and before putting this kind of matter you must have a proof or some links about that illegal used of bitcoin and how this establishment's being victimized of this hackers or scammers

But this will be a isolated cases and not happening daily ,because it seems like i have not encountered here in forum that even hospital become a victim

Well ... let's look logically. Although Bitcoin has a very high level of anonymity, I still feel it is possible to uncover irresponsible actions that cut its existence.

If someone tries to extort, data such as names, valid e-mails, addresses and telephone numbers of those who make bitcoin wallets can be used to track people's identities. Also tracking IP addresses can be done to reveal the identity of individuals involved in such extortion, except when the whole process seems to be a conspiracy.

In conclusion, there is the possibility of someone doing extortion and getting away but I believe it is subjective to the factors wherever the authority is needed to check the actions in carrying out their duties.

Remember about ransomware ?
Yes. it's evitable because it may happen and will keep happen in the future with different way and shape.
All we can do is prepare as much as possible before too late

The purpose of bitcoin is certainly for something good and positive, but because bitcoin has a high price and is very valuable, so there are some people who take advantage of the existence of bitcoin to commit crimes through bitcoin such as money laundering and extortion or others for their benefit. Hopefully those who commit crimes and extort by using bitcoin will get punishment for their actions, so that bitcoin will remain well protected and no longer be used as a crime or extortion by those who are not responsible.

you're right, everyone must use bitcoin only for something good and positive, but there are people who use it the wrong way. as you say, there are those who use it only to use and commit crime. in that case we must always be careful and must be wise in dealing with it

I also believe that the use of bitcoin is not to blackmail people, because until now I have been involved in bitcoin, I don't feel it has been squeezed. instead I can get to know online payments and investment from bitcoin. moreover until now bitcoin is very useful for us.

While this is true, I'd like to expand a little bit on it. It's easy to track when big chunks are moved as a whole, someone that splits it up and buys goods with bitcoin directly would be more difficult to track, though not impossible. Because of this its a bit difficult to prove that the person cashing out is the same person that requested the ransoms, of course it depends from case to case.


Now you do mention something important, but all things considered, would cash then be approved if it weren't already a commonly accepted mean of transaction? Bitcoin at least leaves trails that can be followed all the way to the start. Cash can change ownership sooo much easily, I just don't see how it isn't a counter argument against official currency alternatives, that's all.

Anything can actually be used to extort from people. Any attempt for a ransom using even a cat or a dog is possible. So bitcoin should never be singled out in this aspect.

Though as of the moment, with most of the exchanges requiring a KYC, investigations could be done by tracking down the wallet's transactions. Though of course, it could be a dead end too should the criminal knew the alternatives to cashing out using a name. Or they could also stage a cash out by forcing a person to withdraw the money for them making clean their path somehow.

We could not really underestimate the creativity of these people, they have so many ways in and out of the crime they chose. And perpetrating them using bitcoin might just prove useful in many ways.

Yes, it is used by criminals but because of innovation, tracking Bitcoin transactions are much easier than it was before. But, because of this, it’ll be much easier for criminals or hackers to track down Bitcoin users and ask for ransom etc. We need to be extra careful if we’re going to have crypto transactions.

Bitcoin is widely banned in many countries because of anonymous factors, so it is easily misused by criminals such as extortionists, terrorists and even hackers. Therefore, to anticipate extortion using bitcoin, the government is monitoring the exchange of bitcoin, because in that place the identity of the bitcoin owner must be clear.

You guys have no idea what Bitcoin is doing right now. First it showed you guys that alt coins are shit.
Then it destroyed bcash from .40 to .06
Now it’s stabilizing to show that it’s the true stable coin. Basically saying fuck you to Tether, USDC and True USD. Once these distractions are cleared out, moon time.

so how do you explain the extremely low volume? let me help you
the extremely low volume and the stable price means it's dead as fuck and nobody is using it.

Yeah, cause nobody ever said that before in Bitcoin's bear markets over the years. Wrong then, and wrong now.

Not likely, in my opinion. Because for bitcoin, aren’t all transactions recorded on a public ledger and viewable by anyone with access to the blockchain? And so these “blackmailed funds” can be traced from the moment they were mined, correct?

yes, what ransomware does will further aggravate people's views about bitcoin, but actually bitcoin is far more profitable and beneficial if used positively, hopefully in the future there will be strict legal rules so bitcoin is not misused for negative things.

I think bitcoin transactions can be tracked, and all kinds of crimes that use bitcoin will be tracked. There are always people who commit crimes either trying to steal bitcoin, or misuse bitcoin, such as money laundering and so on. But basically bitcoin is here to give us happiness and make us have a lot of money through that investment, for that I just want to say that bitcoin creates comfort and helps many people overcome their financial problems, but there are some people who misuse bitcoin for a activities that violate the law, so there is a negative view of bitcoin.

Bitcoin can be exchanged directly with an Internet connection device without the need of an intermediary financial institution, meaning that your purchase transaction is free of charge to the bank or any institution. Bitcoin seems to be the perfect payment solution in the Internet age, but because it's an uncontrolled currency, the criminals have a trading tool couldn't be better.

this is indeed one of the weaknesses of bitcoin, its anonymous nature is difficult for investigators to track such transactions, and we know that hackers are not fools, they may be smarter than us, there is a need for new technologies or systems, which are more stringent and guarantee , but I doubt because any sophisticated technology will not stop the hackers from carrying out their evil intentions

unless they could cash out without going through exchanges.

Don't you think more people use cash to scam than crypto?

In 2017, in Ukraine, the country's largest cyber attack on various institutions from banks to energy generating organizations and private firms was carried out. Cybercriminals demanded a ransom for restoring computers, but almost all the victims simply replaced their computers, and no one sent the ransom. I write this because with cybercriminals cannot cooperate. Otherwise it will be extortion and attacks will occur all the time. Unfortunately, there are no effective measures to combat cybercriminals, but I hope that soon they will appear.

Bitcoin is used for many purposes, it depends on the user's intentions, just like using fiat currencies. Bitcoin was created to be used legally, for trading, buying and selling things online and offline, but we see that some people used it for illegal purposes. That's the fault of the user himself not the mistake of Bitcoin.

We really don't have any proof or idea about this type of situition, however it could be possible too because bitcoin is anonymous, and this is the safest way for them to recieve and send money.

This topic is concern about cybercrime not bitcoin. Criminals can't avoid law enforcement just because they use bitcoin. Law enforcement always find the way to do their job. We should not blame bitcoin because of that, if Bitcoin is not exist then those hackers will find other methode to do cybercrime.

Bitcoin or not, extortionist will always find ways to do their bad deeds. Though it might be true that bitcoin's pseudonymity can prove favorable to such organized crime, the regulations being enforced nowadays might change all of that very soon.

Since the transaction can be easily tracked, I think this is not a very suitable way of extortion. Of course, bitcoin is used for illegal purposes, but this will be fought.

of course it is people who are irresponsible and abuse bitcoin so many people say bitcoin is not good. it is very difficult to get rid of bad people like that from bitcoin because bitcoin is anonymous so that it can be used by everyone in a single form.

Don’t  You  have some proofs or evidence regarding this serious accusations?Have some reports that can attest this title of yours because this is a big issue that must be putted by actions in legak matters,but if you have nothing. Then lets forget about it

Transaction is really easy to track since cryptocurrency is not that total anonymous.and government regulations is another different thing about the topic

I think every payment system can be used as an illegal payment system. It's just that bitcoin has not been accepted by every country and there are several countries that make bitcoin a tool that must be avoided and this problem can influence someone's opinion about bitcoin. As for anynomous thing it's not a big problem, you can see the use of money fiat that is used as an illegal payment system, the transaction will be kept secret, one's view is too much to overestimate anynomous found in bitcoin.

I agree with you, whether bitcoin or fiat money has a positive and negative side, depending on where we are going to bring it, a hacker is like a bank robber but in a different way.

Any form of currency has disadvantage as those criminal will find holes in the system to take advantage. Those criminals can exploit the anonymity transaction of blockchain technology but the government can track them.  

Yes, the level of scam through the blockchain has increased in recent time, but the good news is that we can track easily these transactions these days. If people extort people now using the blockchain, such can be traced now.

Yes, I don't think that can follow and check all blockchain for finding hackers.
In any case they use bitcoin mixers and trail will be disappeared.

so. every bitcoin transaction can be tracked. and traced. because all transaction records are written on the blockchain. so even though bitcoin is semi-anonymous, it does not guarantee confidentiality to the sender and recipient. so that any crime can be traced.

But then again, the features of bitcoins are a double edged sword. You have the decentralized and uncontrolled transaction but then again, crimes can be easily committed by having people send money anonymously. But we can all see and appreciate the good things bitcoins have brought into the world.

Yes and these kinds of unlawful acts have been so hard for those who got victimized. But no matter what hackers, scammers and extortionist do, we must learn how to stay safe from them. Crypto currencies have done great things for us but we cannot hide the truth that it is being use by the criminals too.

it could be used as with any centralized currency