is Bitcoin used to extort people?

[ekalak manjeng]

for me bitcoin can also be used as a place to blackmail people like other currencies. even bitcoin squeeze is also difficult to trace its existence. because the crime is not because there is the intention of the perpetrator because there is a chance.

[blue_id69]

Hackers use extortion software to do this. Hackers can actually choose to use VISA cards or cash to pay. Of course, using bitcoin payment will bring great convenience to hackers, but the blackmail is not a bit of a bitcoin. Bitcoin is only one way, and we should see more benefits that bitcoin can bring to society.Anything that has value and can be used for financial gains will definitely attract criminals. This is why we see several financial crimes today and bitcoin and other cryptocurrencies are not exempted. To a very large extent, bitcoin transactions can be traced and if the culprits decide to route their withdrawal through an exchange, they can be nailed because the exchanges require KYC to sign on users.

[sheyicrypto]

this may not be through but out of every lie there must be element of truth. alot of people are using bitcoin to scam some people therefore am not saying that bitcoin extort people but people use bitcoin as a medium to scam others

[RawDog]

Lots of extortion with Bitcoin.  Don't send it to anyone - they are trying to steal you.

[Stormspirit]

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 mean there are many kinda people using bitcoin, it's true I think some people using bitcoin to extort the another people. But there much more good people using bitcoin for their bussines and transaction, so you need to choose which kinda system do you wanna use for using bitcoin.

[jhonvir666]

I think it seems like a bit of a bitcoin is in a dark place because it will continue to where. but it does not grow bigger. There are more rewards that follow the coins they can use, and it seems like an animal is the weapon of choice. I think bitcoin will continue as a good company for everyone. however because it is faster to buy through a good coinbase.

[rindayle]

Yes, indeed, now bitcoin can be used for the sake of bad things, even towards the owner. But the law there is nothing largely can't help it, because bitcoin is not legitimate and he does not control.

[RawDog]

extortion is the primary use for bitcoin

[Btcnaivie]

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.

This one of the reason why government are afraid of bitcoin. This is also why some of the government ban bitcoin in their country. Use bitcoin in illegal transaction like that. But we can prevent this by making standard rules and regulations that abusive people can't abuse it.

[DunnDy]

It is not spoken of loudly, but I suspect that similar situations could have taken place. Unfortunately, Bitcoin as a partially anonymous and not very controlled form of conducting transactions is associated with certain dangers that must be particularly considered. It is worth checking out who we are dealing with before making the transaction and then making payments after checking if we pay a reliable person.

[cryptoalfs76]

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.

Actualy its a big no,and this is a wrong accusation that bitcoin can be used to extort people,because it is created by satoshi nakamoto,to makes a world better and a part of technology its can help economic growth  by means of capitalize country and promoting social economic responsibility and not to create extortion or scamming to the people,otherwise there are circumstances that some people or website used the name of bitcoin in order to extort or phishing.

[Falmera]

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 will be so sad if some will use bitcoin for selfish desires that would destroy other innocent people. Lots of people have been helped through bitcoin. I am hopeful that bitcoin will be for the common good.

[quesi_job]

So far as bitcoin is a standard  of deferred payment, it would be the best option for extortionist and perpetrators of illegal activities compared to fiat money

[Acsirp]

No , bitcoin had no properties or characteristics of extorting people , in fact bitcoin has done something that bitcoin holders can not forget ,when they grows old and remember the time the bitcoin has done for them.

[alyssajane1982]

No , bitcoin had no properties or characteristics of extorting people , in fact bitcoin has done something that bitcoin holders can not forget ,when they grows old and remember the time the bitcoin has done for them.

But we cannot tell those bad people that using bitcoin to extort other people, bitcoin is a digital currency and all people can use it in good or bad way.

[damrianto]

no .... bitcoin is done just to supplement income. bitcoin is no way to blackmail people. this bitcoin only has a way to get rich. The blackmailers can only act on the streets not in this block. Do you understand ..

[kent47400]

later it can be caught by the perpetrator when saving the Bitcoin in Exchange.
because from Exchange always requires KYC for user data.

that is why in Exchange must always open KYC for registration.

[thekop12345]

Anonymous Transactions: It is a fertile ground for criminals around the world: money laundering, drug trafficking, and so forth.
There are more and more ways of fraud: revolve around this currency. In terms of currency, Bitcoin is not bad. In the form of mutations, the belief in bitcoin decreases

[Jihuny23]

I've also heard news several times that bitcoin is used for negative transactions including extortion and fraud. They promise considerable profits by investing some money into bitcoin. Fraudsters usually do lure like doubling money and he extortion until the victim really loses all his possessions. Usually they do extortion or fraud in groups, meaning they are like playing a play in which certain parties are disguised and pretend to be important so that the victim easily believes. If the victim already has bitcoin then the fraudster usually seduces that their bitcoin is invested through the fraudster. Yeah, indeed bad people have a lot of reason. But I am sure if this blockchain technology is able to uncover who this fraudster is, even though its identity is difficult to know for certain.

[adiouqiue91821]

Not just cybercriminals, but traditional criminals also switch to virtual currency. After large-scale ransomware cyberattacks with two ransomware WannaCry and NotPetaa, we already know that hackers want ransomware in Bitcoin format. But another form of crime is also turning to virtual currency: kidnappers. So many of the criminals claim that the Bitcoin transaction is completely anonymous, making it ideal for large amounts of money.