Criminality and Bitcoin

[peter0425]

Hacker Pleads Guilty of Stealing $365,000 Worth of Bitcoin From Darknet Criminals

Hacker Michael Richo, who was arrested on October 5, 2016, has admitted that he stole a total of $365,000 worth of Bitcoin from darknet marketplaces, News 8 reports.

For this crime, Richo could serve up to 30 years of jail time.

https://cointelegraph.com/news/hacker-pleads-guilty-of-stealing-365000-worth-of-bitcoin-from-darknet-criminals

Another hacker pleads guilty and will be put in jail. Good job by the authorities.

[BCTalkaccountforsale]

https://www.deepdotweb.com/2016/01/23/bitcoin-playing-an-increased-role-in-crime-europol-says/

Would you believe that the existence of bitcoin has increased the number of criminality in  some countries in the world. This is the issue that was being thrown by the EuroPol and the UK Metropolitan Police. According to them bitcoin has played a huge role on the increasing criminality in their area. They added that a huge number of cybercriminals were using bitcoins in their activities.

This just shows that as bitcoin develops both advantages and disadvantages will tag along.

I think anything that gives you money is always accompanied by criminals exploiting it. Bitcoin is also the kind of criminals who take advantage of bitcoin to do what is illegal and we can not do anything about it.

[Lorilikes]

Hacker Pleads Guilty of Stealing $365,000 Worth of Bitcoin From Darknet Criminals

Hacker Michael Richo, who was arrested on October 5, 2016, has admitted that he stole a total of $365,000 worth of Bitcoin from darknet marketplaces, News 8 reports.

For this crime, Richo could serve up to 30 years of jail time.

https://cointelegraph.com/news/hacker-pleads-guilty-of-stealing-365000-worth-of-bitcoin-from-darknet-criminals

Another hacker pleads guilty and will be put in jail. Good job by the authorities.

Wow!! I wonder if the criminals from who he stole the money were also busted.
Sounds like Vigalante and I am curious as to the consequences of his crimes, and if any reward
Was given for his help (with the people who he stole from ) .

[stephanirain]

i doubt it.
criminal activities were happening even before bitcoin. for example the ransomware that everyone is talking about these days have been around a very long time before bitcoin was created!

and besides since bitcoin doesn't offer real anonymity it can not really help the criminals as much as things like hard cash helps them.

Yes your definitely right before bitcoin was created there are many criminal activities that people had made. But i hope that no one used bitcoin for there criminal activities such as selling drugs, money laundering and etc. Because maybe this is the reason why the government can't accept bitcoin as a legalize money.

[wxa7115]

0

All of this must be looked for handling. There should be a regulation that regulates bitcoin so that later each user can account for what they do. But I think there must be a very careful thought, because we know that today bitcoin is anonymous so anything done will be difficult to trace. For now everything looks hard to do.

I think all the major exchanges are taking these things seriously ,as they are strict about KYC and other verification and with the new regulations coming out ,i am pretty sure that it will be a mandatory to provide your identity if you are dealing with bitcoin and the biggest problem will be the privacy becomes a big factor as your assets will be known by the government.

Nothing that cannot be solved by doing face to face trades instead, or you could earn or mine your coins instead of buying them, or after buying your coins you use a bitcoin mixer, like chipmixer and then governments cannot know where your coins are.

A lot of things can be said about criminal issues regarding Bitcoin. The fact is that to date not only hackers who hack into state institutions, extort fees for their activities in Bitcoin, but at the same time, even illegal drug and arms trafficking, also spreads through the Internet and with payment in the crypto currency. Such cases are encountered very often. This should be avoided.

I’m not suggesting people to do anything criminal, I’m saying that for those that want to protect their privacy, then they can easily do it by taking additional steps that not many are going to take, also I think at some point better anonymity is going to be integrated in the bitcoin code.

I think it is upto the users of Bitcoin will whether to use bitcoin in good or bad way, why even fiat currency is also being used for all criminal activity, Gold was the main source of criminal activity before but did everyone started to avoid it NO. So why all are thinking bitcoin as bad currency.

Banks and governments don’t like bitcoin, but they have no way to directly stop it, so at the time , they are relying on indirect ways to stop it, and one of those ways is to misinform the population about the uses of bitcoin, an that is why they want to create that connection on the minds of the people.

[Bedebah]

Criminals will always be there, before any money, criminals are rife, criminals can not be stopped while there is life, don't blame bitcoin if criminals use bitcoin for transactions.

[malikusama]

After reading the blog as you have given it doesn't shows that the bitcoin is playing a role in crime, these types of criminal activities was happening even before bitcoin. Online banking sites was hacked many times in the world this doesn't mean that banks also plays a role in crime.

[drachman]

The same thing was said about the internet and now people use the internet more for legal business than crime. All technology has a "dark" side. Telephones are used to harass and exploit people, but most telephone calls are legit. Do we throw away all telephones, because a small percentage of people use it for crime? NO... The good will triumph in the end.

Do not listen to the government shills, they have reason why they want Bitcoin to fail. ^grrrrr^

True as long as the pros of a technology are above the cons then we are good, that is a technology that benefits society more than the damage it does and as such that technology should not be forbidden.

[shield132]

After reading the blog as you have given it doesn't shows that the bitcoin is playing a role in crime, these types of criminal activities was happening even before bitcoin. Online banking sites was hacked many times in the world this doesn't mean that banks also plays a role in crime.

Of course it was happening before bitcoin but the problem is that bitcoin made it very easy. If it was hard before btc, now more people can to own such websited and feel secure with payment. Payment is main when selling so it plays important role.

The same thing was said about the internet and now people use the internet more for legal business than crime. All technology has a "dark" side. Telephones are used to harass and exploit people, but most telephone calls are legit. Do we throw away all telephones, because a small percentage of people use it for crime? NO... The good will triumph in the end.

Do not listen to the government shills, they have reason why they want Bitcoin to fail. ^grrrrr^

True as long as the pros of a technology are above the cons then we are good, that is a technology that benefits society more than the damage it does and as such that technology should not be forbidden.

Everything has it's good and bad side, even usually things are created to change something from bad to better but people use it worngly and make everything worse.

[mostkey]

Bitcoin is the same as a drug, when a bitcoin user uses it well, then bitcoin will remain positive. Similarly when used in negative, bitcoin will be bad. Such as money laundering, payment of crime services and many other thing

[8Habits]

Bitcoin is the same as a drug, when a bitcoin user uses it well, then bitcoin will remain positive. Similarly when used in negative, bitcoin will be bad. Such as money laundering, payment of crime services and many other thing

It is normal and even in fiat money, it is being used for illegal transactions. It is the holder's responsibility as to how he/she is going to use it. But yes, bitcoin is prone to being used for more illegal transactions due to its anonymity compared to fiat money.

[v0rtecxz]

I really don't know about criminality of bitcoin wise. It is not fault of bitcoin, if bad people use bitcoin, than also see that point that good people also use the bitcoin. Bitcoin is a online currency, everyone could use it, and about the crime now criminality is here in all over the world, but not every criminal use the bitcoin.

Yes I agree with your opinion, it is not the fault of this crypto currency (bitcoin), regardless of where it depends on the users each would do with the bitcoin, some of them use for criminal transactions, but I think criminal transactions existed before The presence of bitcoin, I think bitcoin is only used as a tool to wash their money, why bitcoin can be viewed negatively by some people I think due to their limitations about bitcoin information, much can we get in bitcoin and posotif impact

[Lava Hount]

https://www.deepdotweb.com/2016/01/23/bitcoin-playing-an-increased-role-in-crime-europol-says/

Would you believe that the existence of bitcoin has increased the number of criminality in  some countries in the world. This is the issue that was being thrown by the EuroPol and the UK Metropolitan Police. According to them bitcoin has played a huge role on the increasing criminality in their area. They added that a huge number of cybercriminals were using bitcoins in their activities.

This just shows that as bitcoin develops both advantages and disadvantages will tag along.

thats the dark side about bitcoin, not just bitcoin, in real life theres many ways for make criminaly and go away without get in touch.
many people thingking is bitcoin safe for doing criminality, but they are wrong, thats easy for tracking one transaction from a blockchain

[Manuj]

Perhaps, but the rise and fall of criminality is not really because of bitcoin per se. Criminality is everywhere dude. All things are good unless used the other way around. Bitcoin is also good just like our fiat. However, fools use them otherwise.

[Omega Weapon]

Bitcoin is arguably a novelty that's why law enforcement against crime involving bitcoin has not received much attention. So, the criminals can still explore it. But I'm sure, sooner or later, as the number of crimes involving bitcoin increases, of course lawmakers will take action by applying new laws to ensnare the criminals.

In my country, the government pretends that bitcoin does not exist. If you become a victim of theft of bitcoins then you won't even take a police report because a theft has no price and thus is not a property. So the criminals feel quite freely when dealing with bitcoins.

This is a really lousy approach to the situation, there are many things like collectibles that at first sight may not be worth much but that are very valuable, just look at Tom Brady jersey’s, the one that was stolen after Super Bowl LI, it is just a jersey but I have read that some value that jersey at half a million dollars, bitcoin is similar, even if some think it does not have value as long as someone is willing to pay for it, then it does.

[rido]

The internet and Bitcoin are just devices that 'bad guys' and 'good people' can use to be filled with more people in the 'good people' category.

[wantjokull]

Not all criminal activities can be linked with Bitcoin
Bitcoin cannot be used with any kind of criminal activities
But we can can agree that with the use of Bitcoins, those who are into ransom has increased their chances of not blowing up their cover.
Those who use money as payment to drugs, gun smuggling can use Bitcoin to pay and remain unknown
However, not every criminal in this world are into this kind of technology, keep in mind that there are more small time criminals out there that those who are big time and small time ones prefer cash and fast money.

I hardly believe criminals would want keep their money in the form of bitcoin or want to get paid in the form bitcoin. They don't have that much patience and they will never ever risk a dime loosing into fees, confirmations and all the huddled. Lols. I barely think criminals would want to trade in bitcoin payment as they will have big question on what answers to be given to government when they convert it into fiat currency.

[pathapoddo]

It is not right.Bitcoin is just a online currency. If anyone used it illegally then it's their fault not bitcoin forum.After all before created bitcoin there were also crime. Yes,nowadays,cyber crime has increased so much but it is not for bitcoin.But they are using bitcoin for save or transfer money.But bitcoin has created for earning money by investing money for man's income.So it's not bitcoin fault. This is a bullshit accused against bitcoin.I will advice the police to catch those crimal but don't accuse the bitcoin.

[wxa7115]

Perhaps, but the rise and fall of criminality is not really because of bitcoin per se. Criminality is everywhere dude. All things are good unless used the other way around. Bitcoin is also good just like our fiat. However, fools use them otherwise.

Also criminality has not raised because of bitcoin or any technology in particular, governments were the ones responsible for the growth of crime, now organized crime is more powerful than ever and even if they are able to catch a few of the leaders, those organizations keep flourishing under new leadership and governments are trying to blame bitcoin and other technologies when it was them that failed.

[Restmand]

It is not right.Bitcoin is just a online currency. If anyone used it illegally then it's their fault not bitcoin forum.After all before created bitcoin there were also crime. Yes,nowadays,cyber crime has increased so much but it is not for bitcoin.But they are using bitcoin for save or transfer money.But bitcoin has created for earning money by investing money for man's income.So it's not bitcoin fault. This is a bullshit accused against bitcoin.I will advice the police to catch those crimal but don't accuse the bitcoin.

People always stereotyping it. We cant  teach people on when they will use bitcoin and where do they must need it but as bitcoin earners we must use it a good way and help each other to help bitcoin to have a good image for everyone in that case it will easy for the govt to legalize it worldwide.