Bitcoin Forum

It's funny to see a police officer who was supposed to working as per the law, has recently been detected as a cryptocurrency investor. Well, I'm happy to see that personally to be honest.
Last month, the ASP has posted on twitter that he was holding 130 million LUNC which was around ~$70k at that moment. We all know what happened to Luna. He has invested in LUNC after the LUNA crash.
Though I'm personally happy to see that, but it shows how people in Bangladesh are breaking the laws. A lot of people are active in cryptocurrency trading despite govt discouraging it many times.
It's sad they have picked shitcoin instead of bitcoin.

https://i.ibb.co/GnBpTWM/FB-IMG-1656000234561.jpg

You don't have to be surprised because he's holding cryptocurrency. There would be many government employees who invest in crypto despite the strict laws.
Also, we can't tell if the money that police invested in crypto is from a genuine source or not.
For instance, may be he's corrupt and is buying crypto with all his black money but I do hope it's from a genuine source instead.

This also happens in other countries that have been tight with their rules towards cryptocurrencies. I was wondering how that police officer got detected and if he was forced to admit that he owns cryptocurrencies. But based on that image, he's posting it publicly and that's why sometimes you just have to remain lowkey if you've been in a place or country where restriction is being implemented or just be actual lowkey and never published anything that might be used against you since it's a hot issue in the country.
True, they're learning it the hard way by choosing those.

Well in Bitcoin and any form of cryptocurrencies are illegal in Bangladesh[1] which why this article is quite unique. The police might be faced a case or worst discharge of service for doing illegaly activities against there country law. Maybe the policeman salary in Bangladesh is not huge enough which is the reason why seek out crypto as investment.

[1] https://www.straitstimes.com/asia/south-asia/should-bangladesh-be-sleeping-on-crypto-daily-star-contributor

I am not surprised to seeing this. As a matter of fact, top government officials are fully into Crypto in various anti Bitcoin/Crypto currency law enforcement nation but you wouldn't know about it. The law makers are usually the law breakers. Don't be surprised to hear that top financial institutions bosses and staff are into Crypto even the government highly revered accountants too. They fix the law, still they mess things up deceiving the citizens of their various nations.

Very much likely. In our country, Police has been dominating the country with various aspects. Most of them are corrupted and we don't have anything to do. Well, I blame ourself for this, we don't have the ball to raise our voice against it (risk is to get jailed for no reason lol). They take bribe all the time. I myself have been a victim recently without any reason, I have done nothing but faced a lawsuit.

I don't think so. They are enough paid in my opinion. It’s most likely black money as Police is one of the biggest terrorist in Bangladesh.

Oh, I didn't know cryptos are illegal in Bangladesh. I am sorry for those who live there that they break the law just by hodling or trading cryptos there... Is the punishment serious if you get caught? What's going to happen to this police officer, for example? Will it be discharge, as dimonstration suggested it might be? Can it be a big fine or even prison time? I understand it depends on the circumstances (for example, it's one thing if it's just hodling cryptos he's accused of but another if the source of funds is also illegal), but if it's only about cryptos (not potential corruption), what is likely to happen and what's legally possible?

I just found out that Bangladesh has banned cryptocurrencies all along. But it doesn't surprise me that there are crypto investors in countries that ban cryptocurrencies because they also know that crypto is a much more profitable investment than gold.

The problem may be that he has violated the laws of his country regardless of where the money he invests in crypto is. I also probably wouldn't be surprised to hear that government employees are also trying to be crypto investors even though the law has prohibited it.

That may be a different matter, because even someone who has been legalized to invest in crypto can be found guilty if the money comes from illegal activities.

or to play out another scenario

that officer was the accountant/"money runner" for his colleagues black dealings while they patrol the streets. he hid their black income in crypto and managed it for them. . and when it crashed. they lost the lot and left him as the scapegoat because he lost their funds. sending in a anonymous tip to their manager to investigate him

(my plausible opinion of events, not fact. just sounds more reasonable conclusion to how such things would normally turn out when looking at the recent events of luna and the coincidental finding of the guy just as it crashed)

That being said, banning crypto will not guarantee that they can actually rid themselves of such activity. This is even more so for a corrupt country, where officials and state apparatus seem to have the prerogative and impunity to violate the rules without worrying about being punished. By the way I think that this seems to be the case in anti-bitcoin countries too.

Ah yes, a civil servant in South Asia, where minimum wage for an ASP is barely enough to get hands of 10,000 dollars in a lifetime, even with pension, somehow manages to have before retiring that sum of money. I guess he must work really hard or save a lot of money. And no, he couldn't possibly be a Bitcoiner if he invested in Luna...

I would have been surprised if nobody in the police would have owned any cryptos.
I've said it before all the bans and regulations are one thing, the one that matters is how much the authority wants to actually enforce it, just like traffic rules all over the world, every single country has those, and how many get tickets for breaking it in some of those?

As for him being a police officer, back in the 90s' when everything was seemingly turning worse and worse police around here were doing everything and I'm not saying taking bribes or asking for them, but a lot have been caught stealing from stores, stealing wallets at accident locations and even more, I even remember one case when they went on a property for investigation of a thief nearby and on their way back they picked a bike laying around and stuff it in their trunk. Probably Bangladesh even in is in a worse situation than we were back then so, just investing in crypto is something minor.

That being said....
https://mobile.twitter.com/sagor30/

This raises questions....

This reminds me of  Carl Mark Force IV (nice name by the way) and  Shaun Bridges, the agents who were investigating Silk Road and stole some of the bitcoins that they seized as evidence.
In the end it's all about the price that you'll sell yourself for. The police chases you not because they want to uphold the law but because they want to earn money the safe way and are too stupid to be innovative.
The next case that comes to mind are corrupt police officers in Venezuela raiding bitcoin mines and stealing hardware to sell it online.

When laws are stupid you have a moral obligation to oppose them. Banning bitcoin is banning freedom.

It would be great to see the value of his investment increase, but if he doesn't sell it sooner then I'm sure he only has $7K at the moment. LUNC is bullshit, sadly he doesn't know about it. Besides the cop breaking the laws of his country, he seems to be gambling with LUNC.

https://i.imgur.com/rUKWM0f.jpg


Also can't find it here. https://twitter.com/iBabu999/status/1525385377728671744?s=20&t=qeqjnoreHUuzyvqkDKp90Q
Maybe after the news and image went viral, he decided to delete them from twitter. I don't know, it certainly wouldn't be surprising.

https://i.imgur.com/BvRALE3.jpg

He now might think that his government is a saviour who has protected people from such a risky market.  ;D But I feel no matter what once a crypto investor always a crypto investor, it's hard to take crypto out of a person. Talking about laws, obviously cops are the just like normal people as well and they break hell lot of laws, but surprising part here is that even though he has broken the law he is posting about it on social media which might land him in trouble. I see no point why would someone with knowledge of law would do that. I hope some another cop doesn't catches him for doing this. ;D

Many top government official are holding crypto so this is not surprising but my worries are just as yours why he choose shit coin over Bitcoin. He didn't see the dump coming soon and it is becoming glaring that  the government aren't really against crypto from all indications they are only scared of their inability to regulate it completely so they enforce ban on them.

We can't expect that all officers are certainly doing things that support the law, some are definitely against the law so they have to hide it, otherwise they'll be claim the first to break the law. I think this police officer knows the real value of cryptocurrency so instead of supporting fiat, he chose to invest in crypto for bigger profits compared to fiat. And maybe he's a big time investor and has been doing that in the previous years as he takes no fear to invest and hold in such a very huge amount.  But yeah, too bad he never stick to bitcoin as its certainly the best crypto asset.

Crypto has been known to generate extraordinary profits, so thinking about it, no one would not dare to take the risk regardless if you are a law officer or not. And even if he's into corruption or not, if he only see that cryptos are more valuable than fiat, then he won't have to doubt crypto and invest all his extra funds. But i just hope that he's aware that crypto can lose all his funds in an instant particularly if he's into shitcoins than bitcoin.

I want to believe this has nothing to do with professionalism before one can find an alternative means of income to help make the economy sustainable enough upto a standard of living, we have different fields whereby investors can emerge from which has to base on personal interest or choice in making a decision for using cryptocurrency.


I hope when the negative consequences in shitcoins emerges it won't be a thing of regret on them anymore as to be warned is before harm, i think prevention should be a good and better option than cure while dealing with other cryptocurrencies.

The fact that he's a police officer and he's expected to be the first to abide the law, then his action does not justify his profession. But if you are just practical, who would not want to invest in crypto when its profits are very promising. I guess even those with higher positions in their country are also tempted to invest in crypto, its just that they are not yet discovered. Hopefully, he'll get the expected profits investing from a shitcoin, as some of them may give huge profits temporarily.

I believe a lot of politicians or other personalities are secretly investing in crypto market. I know Bangladesh has strict regulations towards crypto. So he should be discreet of showing to the public that he is into crypto. Otherwise, people speculate of corruption and other things. Same goes to other people, better not disclose your crypto involvement so your life will be peaceful, no worries about other people that may possibly ask you favors and all. Because some will think that you are doing great when you are into crypto, but there's more than meets the eyes in this market.

This is a known news from Bangladesh. Similar is the scenario in majority of the countries. Unlike the legal status people are prepared to invest on Cryptocurrencies. So you think he is the only police officer holding cryptocurrency. Surely he could've shared it or suggested for few more people. Whether others invested on cryptocurrency or not is secondary, but there are chances of his colleagues holding the same.

A policeman is also a human who can invest in bitcoin and cryptocurrencies and working in the police station or being an officer cannot change this, as far as I know, the Bangladesh government suspended bitcoin and cryptocurrencies now and when you see even a police officer is showing interest to bitcoin and cryptocurrencies this means how wrong it is to suspend the bitcoin and cryptocurrencies in a country because even the people are responsible for suspending cryptocurrencies they invest on cryptocurrencies and do not agree with the decision on the government.

hearing how strict Bangladesh are with their law regarding cryptocurrency, I am curious about what happened after. any update on this? I mean did the Officer ever get any punishment?

I mean, the owner could have been ordered to deactivate the account after being found out that he is a cryptocurrency investor and holding LUNA

It's sad to see poor countries not profiting from the opportunity Bitcoin and cryptocurrencies as a whole offer, but it's a truth that corruption is the main factor keeping these countries in a vicious cycle.

I don't admire people who break the law, but I don't see why cryptocurrencies would ever be banned with a rational reason, for the wellbeing of the population? It's really dumb to keep technology away from your people.

I'm a strong believer that the solution for third-world countries is radical erradication of corruption combined with entrepreneurship. That's what is going to create the biggest impact.

He was not detected to be a shitcoin investor; he himself made it public.

Anyway, if I were his superior who has the authority to mete out whatever appropriate penalty is due to him, I might not give a harsh punishment. Investing in cryptocurrency doesn't really hurt anybody. While it is against the law, it is not really putting anybody to harm. Perhaps an admonition will do along with the demand that he take down the social media post and avoid doing the same in the future. That's enough I guess. After all, he's already suffering enough for investing in the wrong coin.

I am from your neighboring country India, so I can understand how it feels because things are quite similar here too.
It's easy for a police man who understands crypto well to take the black money in crypto.
But the funny part is that the police man was holding LUNC rather than established coins. LOL.
Black money going down the drain if he holds for a long term.

Maybe they are using crypto as a new source of income besides their main job. I think it's natural if they still try to be a crypto investor even though their country has banned crypto. Investing in crypto is everyone's right, but the state restricts it and even prohibits it. And this is what happened where many people from countries that banned bitcoin continued to invest in crypto because they saw the great potential of crypto.

To be honest if law will always be broken by some people who were always looking for the way to make money. Crypto has become the main way for people to make money from some countries. Crypto can also be considered as their main field as well.
The law was just a rules but again it can't fully forced to fully stop from using cryptocurrency. It's not only on bangla but im sure that so many people from the various countries like india and china were still using crypto even though their governments have been declaring to ban crypto so many times.

It's also not surprising that when the truth comes out, I've also learned that those trying to put in place laws to control crypto have more BTC holdings than anyone else. This is also easier to understand when it comes to the issue of taking advantage of one's own power to oppress weaker people, and through the story from the OP, I can see that this policeman is paying the price for his wrongdoing with this case bad luck with LUNA.

If the offense is not too serious then for sure there are still people that will break the law.

Crypto gives opportunity and they see it as an opportunity so they are risking money and even breaking the law.

On the other hand, you are right, they should not invest on shitcoin, so they need to educate themselves to understand how to choose the right altcoins that are legit and with great future potential, riding on the hype alone is a wrong idea as it will never give long term success.

It seems to me that it doesn't  matter where they invest in Bitcoin or Shitcoin, the success of the crypto is in the fact that they are positive towards the crypto. However, they can do better if they are analyzing and then trade. Many people are not interested in investing in Bitcoin because there will need big investment comparatively investing in altcoins have the possibility to make good return.

If you are seeing the regulation as a border between human to the crypto from a country and that's actually wrong. Regulation was a rules that was prohibiting in the specific place but it's not also fully prohibiting someone from fully avoid the cryptocurrency.
The decision where in their hand whether they wanna try to keep dealing with the crypto or not. I see some people above were also coming from the countries that prohibiting crypto but yeah they are still touching crypto.
This is the fact if regulation is not 100% perfect to give a border between crypto and its citizen.

Lots of people from countries that prohibit cryptocurrencies are surely doing the same thing and we can't blame them for that. People all over the world already know how a crypto investment works and they also want to gain profit regardless of the law. People will still find ways and alternatives to invest so I hope that their government won't lift such banning in the future.
That police officer is also someone who sees the value and importance of Bitcoin.

I will echo the sentiments, although there is strict law, you can't blame everyone including those that supposed to implement the law because crypto is for everyone. I must just imagine how much money he put and the profits that he should have made if not for the Luna crash. However, I'm not sure how the government will react to this, again, it's because they are against crypto, maybe he will get punished or something?

I saw no reason why a police officer can't just be a crypto investor. Well, it's not like you have to be super nerd or high-tech to understand how crypto works and become a crypto holder. It was relatively easy once you get a hang of it. He's also a normal human being like you and me, not just someone you have to put over such a high plate, police officer or not.

His job is the major reason why he shouldn't make his crypto investment public because cryptocurrency is illegal in Bangladesh.  As a police officer, he should be a role model in following laws implemented by his country.  Publishing/posting online that he is investing in illegal stuff is like saying that he is involved in illegal activities and it sure has punishment.

No wonder the policeman has bought a cryptocurrency. However, buying it for such a large amount of money is a matter of concern. It may be black money or it may be his earnings. But the fact is that there  According to the law, it may not be permissible. There is a similar situation in Pakistan. Many people have invested in cryptocurrency there while the government has repeatedly taken strict action against them. Now some committees have been formed at the government level.  Hopefully, the crypto will be regulated In Pakistan also in India, we see the same thing. Before crypto became legal, So if you see a Crypto wallet on a child's mobile phone, don't be surprised.  He is wiser than we are.

I am not familiar with the law in Bangladesh, especially when it comes to cryptocurrency, so it would be good for you to first tell if investing in cryptocurrency is illegal in Bangladesh, as well as cryptocurrency trading.

If this is not prohibited, and therefore legal, then why shouldn't the police officer do it? They are the same people, with the same desires to earn.

But this story begins to look different if police officer is engaged in illegal activities and this becomes not very fun, but sad, because SUPERCOP has to monitor compliance with the laws, and he violates.

We don't know his motivation, do we? Maybe he believes in the rapid growth of LUNA/LUNC and wants to make a lot of money on this speculation.

If not, then he should have looked at this forum and he would have been quickly explained what to invest in. :)

Well, you know them. Not all police/authorities are sincere and honest about their duties but many of them are corrupt and they are the ones that do an illegal act because they aren't afraid as no normal people can question them although this was still risky as their other members can go against them and report them to their head officers.

This is something that we must feel happy or proud of. Not only that his acts are wrong, he also invested on a wrong coin but even if he invested in bitcoin, I think nothing will change as all cryptos are still banned on their country up to this date. Luna did crash but who knows? Maybe the guy miraculously sold all before the tragedy happens.