Bitcoin Are Now Used in Crimes

[Gens09]

Bitcoins has regained its strong value, As of this posting, the value per 1 bitcoin is exactly 4786.59 US Dollar.   Soon we will see more ways people can squeeze the most out of bitcoins.   Since the advent of the internet to be profit oriented in the 90's, no one would possibly have imagined that the Internet would breed Facebook, Google, Uber, online streaming, etc. This is where we are with the Blockchain now. There exists a whole world of opportunities out there.  

These opportunities have the unrighteous users of this cryptocurrencies to also used its advantage. We cannot deny for a fact that cyber crimes have been committed since the birth of the internet.  Once, stealing was done with having guns, now, robbers can easily hack bank accounts or counterfeit credit cards to their advantage.  Sooner, cryptocurrencies can be used to pay crimes such as services for creating counterfeit birth certificates and this is not far from happening.  Actually, the US has already cases on this matter.

Another is the crime of buying illegal-drug emporium that used Bitcoin as a medium of exchange, politicians and policymakers took notice. Criminals, it turns out, really like bitcoins, which can be exchanged for nefarious purposes on the "Dark Web," with complete anonymity and, it seems, impunity.

Although, there are some articles that i have read regarding criminals cannot hide behind bitcoins, still, there are difficulties tracing transactions using cryptocurrencies. That is why law enforcement agencies should have a to change their procedures to pursue criminals who make use of the latest technology to commit crimes. Let the law find a way to evolve to address new tech challenges. There is no reason to expect that law enforcement won’t be able to get a handle on this new cybercrime.

Obviously it is being use in a lot of crimes because of the way of payment or transaction you can send a money or a currency anonymously and obviously it can e use in terrorist and illegal transactions of the criminals this is a new technology and obviously legal today thats why it become illegal in some countries because of the danger and threat in the economy.

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[Erlinda Santiago]

Yes bitcoin sometimes use in scam because it is use in scamming online  but not all people use bitcoin for scams

[crustycrab666]

Yes it is and that is the darkest part of bitcoins. Ico's in china has been banned because of illegal transactions that has been made by some companies and it was a very bad idea to do some sort of things like this because everyone will be affected if government will ban bitcoins in their country.

whereas, the positive side is more, and very useful in the future. those who take advantage of that convenience for crime give bad images of bitcoin. so it is only natural to me that the government is trying to protect their country's activities from such a bad possibility

[Bitmora]

It always has been. That's one reason why it has such a bad reputation in the media, because back in 2012-2014 it was constantly being on the news for illegal activities. Dark markets to this day still use Bitcoin as the main form of payment, m,any don't accept anything other than crypto. Monero is slowly making an appearance as well.

[4p0l4k4y]

I wont be surprise about that. But just to let you know it is the underground world who used bitcoins first before us. Like silkroad in the deepweb where you can buy illegal drugs, hire assasins, hackers anything illegal is available.

[thenameisjay]

Bitcoins are just that good of a technology since transacting with it is untraceable and police can ice you out because they don't know where the bitcoins came from. Crime sprees and hackers will take advantage of this feature and make cyber crimes much more achievable and easy.

[Dr.Osh]

In fact, bitcoin is so great that it has the potential to commit criminals. such as illegal transactions, and such. so many possible happenings. and I think that has been done long ago. but, I think that the activation is reduced.

[iram3130]

Every new technology has its pros and cons. People usually think of ways manipulating everything and the anonymity of bitcoin is taken greatly on the negative edge. We need to understand that it should not be used in crimes.

[Rebisco]

Yes it is! One of the disadvantages of bitcoin is; it can use in many crimes. Bitcoin is a money and we all know that money is using many crimes. It can be the reason why governments doesn't want to legalize the bitcoin.

[Joriecoinbit]

I wont be surprise about that. But just to let you know it is the underground world who used bitcoins first before us. Like silkroad in the deepweb where you can buy illegal drugs, hire assasins, hackers anything illegal is available.

All types of crime are in deepweb. I haven't tried diving there (dive is the term of my friends when they want to check that site). Anyway, bitcoin is being used in illegal activities years ago and still, it is being used in as of the moment. Police can never trace your transaction especially in deepweb coz you have to use VPN so no one can trace your IP address.

[Nefarious]

Bitcoin certainly is used in crimes, but guess what? So is fiat.

As with any new technology, those inclined to do so will find ways of using it illegally to their benefit. That's why i think a little bit of regulation in the cryto space isn't necessarily a bad thing...as long as it provides additional security & improves the reputation of cryptocurrency without being too overbearing.

[kilpatty]

It seems silly to link Bitcoin with Crime.

If we go by that logic, cash should be outlawed because criminals are using it for all kinds of activities.

I believe that everyone has a freedom of speech, and my money talks.

A currency should not be judged by who uses and for what, but rather for it's usefulness.

[panjay]

Of course, it is used by a criminal! It's anonymous they said! People who have malicious intent for malicious deed will consider this for sure! Like hey I want to buy some drug, let go to silkroad because we don't need to show up virtually!

Okay all of criminal things always happen in any form, people used to pay in fiat to do bad things, but now changes with bitcoin and they stupid enough to believe bitcoin is an anonymous thingy.

[/GeertJohan]

Yes,the bitcoin is may used in crimes. Because they can buy and sell anywhere in the world because it is untraceable and the important point is it is decentralized.. So they can use it.

[VayneAurelius]

Well people have their own will on where they will used BTC but the sad thing is, they didn't think about the consequence it can cause and didn't think about not wasting it in crimes instead use it in good things.

[Hotrod_88]

Bitcoins has regained its strong value, As of this posting, the value per 1 bitcoin is exactly 4786.59 US Dollar.   Soon we will see more ways people can squeeze the most out of bitcoins.   Sgovernmenthe advent of the internet to be profit oriented in the 90's, no one would possibly have imagined that the Internet would breed Facebook, Google, Uber, online streaming, etc. This is where we are with the Blockchain now. There exists a whole world of opportunities out there.  

These opportunities have the unrighteous users of this cryptocurrencies to also used its advantage. We cannot deny for a fact that cyber crimes have been committed since the birth of the internet.  Once, stealing was done with having guns, now, robbers can easily hack bank accounts or counterfeit credit cards to their advantage.  Sooner, cryptocurrencies can be used to pay crimes such as services for creating counterfeit birth certificates and this is not far from happening.  Actually, the US has already cases on this matter.

Another is the crime of buying illegal-drug emporium that used Bitcoin as a medium of exchange, politicians and policymakers took notice. Criminals, it turns out, really like bitcoins, which can be exchanged for nefarious purposes on the "Dark Web," with complete anonymity and, it seems, impunity.

Although, there are some articles that i have read regarding criminals cannot hide behind bitcoins, still, there are difficulties tracing transactions using cryptocurrencies. That is why law enforcement agencies should have a to change their procedures to pursue criminals who make use of the latest technology to commit crimes. Let the law find a way to evolve to address new tech challenges. There is no reason to expect that law enforcement won’t be able to get a handle on this new cybercrime.

Bitcoins can be used in crime even before so nothings new with it, especially in the deep web before I knew about this forum I thought bitcoins are just used to transact to buy some illegal fruga illegal things or even to hire a hitman because it is decentralized which means government donnot know about those transaction that are happening and they cannot also tract those transactions because bitcoins are untraceable so yeah before you even know bitcoins they are pretty kuch ised for bad things so nothings new with it.

[julzcoinbit]

Bitcoins has regained its strong value, As of this posting, the value per 1 bitcoin is exactly 4786.59 US Dollar.   Soon we will see more ways people can squeeze the most out of bitcoins.   Sgovernmenthe advent of the internet to be profit oriented in the 90's, no one would possibly have imagined that the Internet would breed Facebook, Google, Uber, online streaming, etc. This is where we are with the Blockchain now. There exists a whole world of opportunities out there.  

These opportunities have the unrighteous users of this cryptocurrencies to also used its advantage. We cannot deny for a fact that cyber crimes have been committed since the birth of the internet.  Once, stealing was done with having guns, now, robbers can easily hack bank accounts or counterfeit credit cards to their advantage.  Sooner, cryptocurrencies can be used to pay crimes such as services for creating counterfeit birth certificates and this is not far from happening.  Actually, the US has already cases on this matter.

Another is the crime of buying illegal-drug emporium that used Bitcoin as a medium of exchange, politicians and policymakers took notice. Criminals, it turns out, really like bitcoins, which can be exchanged for nefarious purposes on the "Dark Web," with complete anonymity and, it seems, impunity.

Although, there are some articles that i have read regarding criminals cannot hide behind bitcoins, still, there are difficulties tracing transactions using cryptocurrencies. That is why law enforcement agencies should have a to change their procedures to pursue criminals who make use of the latest technology to commit crimes. Let the law find a way to evolve to address new tech challenges. There is no reason to expect that law enforcement won’t be able to get a handle on this new cybercrime.

Bitcoins can be used in crime even before so nothings new with it, especially in the deep web before I knew about this forum I thought bitcoins are just used to transact to buy some illegal fruga illegal things or even to hire a hitman because it is decentralized which means government donnot know about those transaction that are happening and they cannot also tract those transactions because bitcoins are untraceable so yeah before you even know bitcoins they are pretty kuch ised for bad things so nothings new with it.

You're right, there's nothing new about it, bitcoin has been used in crime since 2010 I guess. It is decentralized and the transactions are irreversible and it can be a way to commit crimes without getting caught by the government easily.

[Shannykhan44]

Bitcoin, the Internet currency beloved by computer scientists, libertarians, and criminals, is no longer invulnerable. As recently as 3 years ago, it seemed that anyone could buy or sell anything with Bitcoin and never be tracked, let alone busted if they broke the law. “It’s totally anonymous,” was how one commenter put it in Bitcoin's forums in June 2013. “The FBI does not have a prayer of a chance of finding out who is who.
The Federal Bureau of Investigation (FBI) and other law enforcement begged to differ. Ross Ulbricht, the 31-year-old American who created Silk Road, a Bitcoin market facilitating the sale of $1 billion in illegal drugs, was sentenced to life in prison in February 2015. In March, the assets of 28-year-old Czech national Tomáš Jiříkovský were seized; he’s suspected of laundering $40 million in stolen Bitcoins. Two more fell in September 2015: 33-year-old American Trendon Shavers pleaded guilty to running a $150 million Ponzi scheme—the first Bitcoin securities fraud case—and 30-year-old Frenchman Mark Karpelès was arrested and charged with fraud and embezzlement of $390 million from the now shuttered Bitcoin currency exchange Mt. Gox.
The majority of Bitcoin users are law-abiding people motivated by privacy concerns or just curiosity. But Bitcoin’s anonymity is also a powerful tool for financing crime: The virtual money can keep shady transactions secret. The paradox of cryptocurrency is that its associated data create a forensic trail that can suddenly make your entire financial history public information.

[Younggiant2018]

Bitcoins are just that good of a technology since transacting with it is untraceable and police can ice you out because they don't know where the bitcoins came from. Crime sprees and hackers will take advantage of this feature and make cyber crimes much more achievable and easy.

There are really crimes that uses bitcoin as mode of payment transactions. It is currently circulating which gives headaches to authorities. Very soon, the corrupt government officials will use bitcoin to hide their indentity and avoid being caught.

[ongels]

In the first place, bitcoin originally used in black market to transact illegal activities due to its anonymity to users. Precisely there are something happen in the forum that we don't know, Maybe porno's and laundering. But we can't foretell how they do it.. Its only my speculation..