is Bitcoin used to extort people?

[Tylev]

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.

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[Nerman]

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.

[Spontebob]

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.

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'.This is the main argument against adoption bitcoin as a legal tender especially from government circles.

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.

[LuchikSveta]

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

[jhonnydeep87]

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.

[reality18]

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.

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.

[wilburwilbur]

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.

[gezhid008]

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.

[131tc01n]

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.

[Nick Abimanyu]

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.

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.

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

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.

[Barbarian]

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.

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

[Ajeng07]

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.

[AurumService]

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

[bocyaj]

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.

[dpoisoner]

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

[irenegaming]

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.

[FiguerFixZ]

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

[Paractor]

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.

[Svafnir74]

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.

[vinbitpon]

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.