Egyptian police arrest a man for trading bitcoin on localbitcoin

[Bitcoinpro]

btc2okpay was a scammer , you can find many scam accusations against him: https://bitcointalk.org/index.php?topic=626733

Involved in money laundering , he was just using bitcoin as a means to swap currencies locally. Finally got caught.

Scam thread: https://bitcointalk.org/index.php?topic=626733

Please get your facts right before you throw in lies

Im the owner of btc2okpay account on localbitcoins , some1 is using my nickname here on bitcointalk.org to scam ppls , its not me , i have 100% feedback and hundreds of trades on localbitcoins , how come i would scam some1 for 366 euro ...its some1 who used my known name to scam

So you were the one arrested?

would appear so, in Sydney Australia account holders do send other people for the meet i think

[1715310240]

1715310240

[1715310240]

1715310240

[1715310240]

1715310240

[1715310240]

1715310240

[1715310240]

1715310240

[martinacar]

this is the guy account https://localbitcoins.com/accounts/profile/btc2okpay/

it seems that they contacted him on localbitcoin then they arrested him in the meeting

they released this statement about him
 (Google translate may help you if you want to follow the full story)
https://facebook.com/MoiEgy/albums/1101763136534015/

it seems that bitcoin is going to be illegal in Egypt soon !

Not weird,bitcoin already illegal in some countries,but its not make bitcoin users lost their mass,its why in my country still so many bitcoin users..

I find this very weird and wrong. Holding bitcoins is like holding any virtual tokens. Why is it illegal? Those guys are really crazy making bitcoins the enemy. Bitcoin is a friend and it should be treated like that.

[zend7]

I don't think he was arrested for trading bitcoin alone. Bitcoin is not even illegal in Egypt, and you can't be arested for something that potentiallycould be illegal in the future.
There must be some additional second bottom to this situation (maybe he was linked with terrorism somehow, potentially Al-Qaeda or ISIS?) We need more info about this case.

Another instance about law enforcement being against bitcoiners 
I do keep hearing that more and more countries are enforcing their laws to inhibit it's use within their jurisdictions.
Once they give the ok to have people arrested for using it that will not be good thing for it's progression in other parts of the world that are on the fence to allow it to be accepted at a retail level.

[issho]

btc2okpay was a scammer , you can find many scam accusations against him: https://bitcointalk.org/index.php?topic=626733

Involved in money laundering , he was just using bitcoin as a means to swap currencies locally. Finally got caught.

Scam thread: https://bitcointalk.org/index.php?topic=626733

Please get your facts right before you throw in lies

Im the owner of btc2okpay account on localbitcoins , some1 is using my nickname here on bitcointalk.org to scam ppls , its not me , i have 100% feedback and hundreds of trades on localbitcoins , how come i would scam some1 for 366 euro ...its some1 who used my known name to scam

So is that you on a news?

[Herbert2020]

just trading bitcoin is not illegal anywhere in the world as far as i know, and so far all the arrests or problems with the law that i have seen was another type of problem like (most times) tax evasion, or money laundering, or scamming people, and other crimes which has nothing to do with bitcoin trading.

There are some countries that have issued bans on using Bitcoin according to Wikipedia: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

yeah but a lot of them are just having "not regulated" status. there is saying using bitcoin is illegal. and those who are listed as such ("you will get arrested if you use bitcoin" like a couple of the countries) are not a law but a government official is saying this law should be placed if you follow the news. like russia.

[SilverPunk]

just trading bitcoin is not illegal anywhere in the world as far as i know, and so far all the arrests or problems with the law that i have seen was another type of problem like (most times) tax evasion, or money laundering, or scamming people, and other crimes which has nothing to do with bitcoin trading.

There are some countries that have issued bans on using Bitcoin according to Wikipedia: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

I think it depends on country ,i hope they won't banned bitcoin in my country .it was very helpful to us.
I there this bitcoins in egypt is use on many illegal or illegal things to buy so the traders is also accused.

[Amadues]

this is the guy account https://localbitcoins.com/accounts/profile/btc2okpay/

it seems that they contacted him on localbitcoin then they arrested him in the meeting

they released this statement about him
 (Google translate may help you if you want to follow the full story)
https://facebook.com/MoiEgy/albums/1101763136534015/

it seems that bitcoin is going to be illegal in Egypt soon !

Egypt seems have bad problem for democracy. there was also a phd student from italy tortured and the killed without reason (and without a clearly guilty).
Anyone ever listen the story of Giulio Regeni?

[romero121]

That's really worse to arrest a person. They without proper understand believe bitcoin is full of illegal and antisocial activities. This makes authorities to do such strange things.

[Indrawan77]

Yeah its not all country ready to accept bitcoin, its because bitcoin has some bad reputation due to people used it for money laundry and rumor that isis use bitcoin to purchase weapon

[YTBitcoin]

I don't know that why he was arrested, if it is the law of egypt then egypt is going to destroy their nation by denying them from the modern technology and if it is because of money laundering then it is good.

[john2231]

Yeah its not all country ready to accept bitcoin, its because bitcoin has some bad reputation due to people used it for money laundry and rumor that isis use bitcoin to purchase weapon

Yeah its not legal in other country.. because they know bitcoin uses for anonymous process.. yeah your right for illegal buying weapons . also for illegal buying hack accounts and drugs.. in darkweb they are using bitcoins to transact money without worry.. bitcoin has many features that we like.
some of the features are bitcoin is anonymous, you can use bitmixer so that you can not trace easily. and many features that some country don't like..

[lumeire]

did i undertood that right?
The guy was selling some bitcoins, the buyer(police) ask for a meeting and he goes?

If i were in localbitcoins selling some, i would never go to a meeting... the whole point of this is anonymity.

Well the whole point of LocalBTC was to trade with actual people, via meetups and the like. If you're buying and doing it all online you can just buy direct from an exchange.

[coinzat]

btc2okpay was a scammer , you can find many scam accusations against him: https://bitcointalk.org/index.php?topic=626733

Involved in money laundering , he was just using bitcoin as a means to swap currencies locally. Finally got caught.

Scam thread: https://bitcointalk.org/index.php?topic=626733

Please get your facts right before you throw in lies

Im the owner of btc2okpay account on localbitcoins , some1 is using my nickname here on bitcointalk.org to scam ppls , its not me , i have 100% feedback and hundreds of trades on localbitcoins , how come i would scam some1 for 366 euro ...its some1 who used my known name to scam

if you are the real owner of the localbitcoin account that was mentioned by the ministry of interior in Egypt, can you tell us what happen? did you get released ?

[zimmah]

this is the guy account https://localbitcoins.com/accounts/profile/btc2okpay/

it seems that they contacted him on localbitcoin then they arrested him in the meeting

they released this statement about him
 (Google translate may help you if you want to follow the full story)
https://facebook.com/MoiEgy/albums/1101763136534015/

the post summary :

It's the official Facebook page for the Egyptian Ministry of Interior.

Basically the article says a 30 year-old Egyptian dentist, which it names as Ahmad A. H., was arrested for trading in foreign currencies. The security services contacted him on localbitcoin, and arranged an exchange of $13,900 for BTC at a rate of $570/btc. They met him in New Cairo and arrested him. He had $13,900 USD on him and a tablet, as well as pictures of various exchanges and deposits. The article concludes saying he confessed to the incident confirming that he was using the tablet and money to buy Bitcoin, and that he was put in front of the public prosecutor.

The article doesn't specify what the exact charge is, but it does mention trading in foreign currencies several times. Many of the comments refer to the government as ignorant or stupid, and asking where is the crime?

it seems that bitcoin is going to be illegal in Egypt soon !

just because a person is arrested for trading bitcoin doesn't mean bitcoin is illegal.

in many countries it's not legal for individuals to sell large amounts of national currency for international currency.

[isvicre]

how do police find him on localbitcoins?



buy and sell blade and soul gold we accept bitcoins

The same way real users would find him.

Not sure why people are praising the egyptian police.  Its not hard to find the guy on lbc and organise an in person meet up.

[coinzat]

how do police find him on localbitcoins?



buy and sell blade and soul gold we accept bitcoins

The same way real users would find him.

Not sure why people are praising the egyptian police.  Its not hard to find the guy on lbc and organise an in person meet up.

and that is exactly what happen. they contact him asking to buy bitcoin and in the meeting the got him. nothing hard at all in what they have done because any trader would not have doubt that he is not talking to a real customer

[n2004al]

this is the guy account https://localbitcoins.com/accounts/profile/btc2okpay/

it seems that they contacted him on localbitcoin then they arrested him in the meeting

they released this statement about him
 (Google translate may help you if you want to follow the full story)
https://facebook.com/MoiEgy/albums/1101763136534015/

the post summary :

It's the official Facebook page for the Egyptian Ministry of Interior.

Basically the article says a 30 year-old Egyptian dentist, which it names as Ahmad A. H., was arrested for trading in foreign currencies. The security services contacted him on localbitcoin, and arranged an exchange of $13,900 for BTC at a rate of $570/btc. They met him in New Cairo and arrested him. He had $13,900 USD on him and a tablet, as well as pictures of various exchanges and deposits. The article concludes saying he confessed to the incident confirming that he was using the tablet and money to buy Bitcoin, and that he was put in front of the public prosecutor.

The article doesn't specify what the exact charge is, but it does mention trading in foreign currencies several times. Many of the comments refer to the government as ignorant or stupid, and asking where is the crime?

it seems that bitcoin is going to be illegal in Egypt soon !

There is no data about the status of bitcoin at Egypt but as can be seen the status of the lion of the cryptos at this country is "not desirable". What a stupid behavior...

[9955ghj]

Maybe he is selling bitcoin bitcoin for not a provably fair price thats why he arrested or there's someone who reported that he selling bitcoin for not provably fair price..

What are you talking about??

There were similar incidents in different parts of the world, where someone dealing with bitcoins was arrested but iirc, it always involved huge cash trades, so maybe it isn't about bitcoin but tax fraud and money launder.

contact me on telegram .. @Thou_High5  .. I need an advertiser on reddit