Criminals and Bitcoin

[evermak]

I do not think that bitcoin is encouraging any illegal activities. Majority of people are using it as an investment medium only. Some people might be using it for illegal activities but they are not going to become saints even if bitcoin is banned.

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[Elmer1]

Bitcoin is not responsible for this.Criminal commit their crime anyhow.Before bitcoin here was crime and it will be if bitcoin don't exist

Yess . Some of the people use bitcoin for crimes ex: scammers . Because there are so many people used bitcoin . And so on scammers are active to stole bitcoin to someone . Be carefull of scammers

[ottopk]

Australian federal authorities have pinned multiple charges on a 32-year-old Brisbane woman for purchasing illicit drugs from the United Kingdom, using bitcoin.
‘People shouldn’t assume the dark web is invisible to Australian agencies’ warned Australian Border Force (ABF) Queensland regional commander Terry Price while announcing details of a joint-investigation with the Australian Federal Police (AFP) on Friday. BTC

[ottopk]

Police in Russia have developed a case against two organizers of a cryptocurrency mining farm in Orenburg, according to Irina Volk of the Ministry of the Interior of the Russian Federation, RIA56, a Russian news source, reported.
BTCBTCBTC
More than 6,000 pieces of computer equipment were discovered at the former plant of the RTI which police believe was a mining farm. Police had installed agents at the site. The bitcoin farm used 8 million kilowatts per hour without taking into account power consumption.
 
Police found equipment connected to the power grid, as well as power supply cables leading to a nearby substation.

[ottopk]

Almost half of all Bitcoin (BTC) transactions sent to date have been associated with illegal activity, a new report has revealed.
 
Researchers at the University of Sydney have uncovered that a quarter of Bitcoin users have ties to criminal activity and that a little less than half of all Bitcoin transactions have been linked to illicit industries, like drug trafficking and hacking.
 
These customers are thought to conduct somewhere in the region of 36 million individual transactions per annum, with a total value of around $72 billion. They’re also predicted to hold around $8 billion worth of Bitcoin collectively.

 
Read more at http://www.trustedreviews.com/news/blockchain-crime-bitcoin-cryptocurrency-value-fall-dark-web-criminals-3382093#2vkSQRrjzHsA2838.99

[bitbargains]

You're completely right. Bitcoin being used for crime isn't because Bitcoin is evil or bad. Anything can be used for malicious purposes, and criminals just happen to use Bitcoin.

[tungaqhd]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.

Bitcoin wasn't made for criminals, just because people use it for illegal work.
But it's hard to control this as Bitcoin transactions are anonymous and everyone can use bitcoin.

[bitvalak]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.

it all depends on their intentions. The illegal thing by using bitcoin is only done by some person. There are still many positive things that use bitcoin if we want a little eye opening. Many people who helped the economy because of making money through bitcoin, call it bounty and others. The task of the media and the government is to turn off bitcoin because it is not in line with government objectives. Media only as a tool to do that.

[perfryan]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.

The Dubai police arrest suspects behind $1.9 million bitcoin heist.

The Chinese police seize 600 bitcoin mining computers over electricity theft.

Bigbitcoin heist suspect escapes prison in Iceland flees to sweden.

Crypto scammers face 21 years in prison,warns Philippines regulator.

[Pejoh Asu]

Almost half of all Bitcoin (BTC) transactions sent to date have been associated with illegal activity, a new report has revealed.
 
Researchers at the University of Sydney have uncovered that a quarter of Bitcoin users have ties to criminal activity and that a little less than half of all Bitcoin transactions have been linked to illicit industries, like drug trafficking and hacking.
 
These customers are thought to conduct somewhere in the region of 36 million individual transactions per annum, with a total value of around $72 billion. They’re also predicted to hold around $8 billion worth of Bitcoin collectively.

 
Read more at http://www.trustedreviews.com/news/blockchain-crime-bitcoin-cryptocurrency-value-fall-dark-web-criminals-3382093#2vkSQRrjzHsA2838.99

This is what makes many countries choose bitcoin banned for fear of being used for illegal transactions, but by making the regulation then it can be overcome and it is tightening control of exchanges, because the thing we can do is look into the where the money from the bitcoin.

[ismelda_ita]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.

every bitcoin transaction is done using a wallet account. I think to prevent or minimize such incidents required KYC every wallet account registration on every platform.

[DoublerHunter]

Criminals and bitcoin are so connected back then when bitcoin is just getting started because bitcoin is a anonymous cryptocurrency that helped them to transact under the radar but as of now, there is a lot of altcoins that do better than bitcoin in terms of privacy so bitcoin is now more into investment or being an asset rather than a currency that is being use to transact illegally.

[Spontebob]

Hmm haven't we discussed this to death?

It is not possible for the police or any entity to tell, just by looking the transactions themselves. In fact, without any actual link to evidence, the transactions can't be identified. If the authority can get one of the addresses/transactions involved, they could get the whole link of addresses that are related but that isn't possible all the time and its rather inaccurate and useless.

This is why bitcoin cannot be legalized in some countries since there are people who use bitcoins in form of illegal transactions, it cannot be tracked by the government. It is considered as a haven for black markets and money laundering by the government.

[mkcube]

Maybe this is the reason why butcoin not legalized in other country.Because they use bitcoin for illegal transactions.It cannot track by governement.It is conseidered for black market and money laundering by the givernment.

[CrystalPham]

Due to the anonymity of bitcoin and uncontrolled crime, criminals can use this currency as a trading method. Hackers may be trying to attack multiple bitcoins to steal large amounts of money and money laundering can happen easily.

[xwshamim]

criminals use everything good in their bad work and they ll keep doing the same always so there is no way of blaming a good technlogy i think

[Haxor321]

I have seen some news regarding hackers, terrorists, and other criminals using bitcoin for illegal trades.
How the police can find about these transactions?
Even if is hard to track illegal transactions, I don't think that Bitcoin can be a danger to society, since the problem is the society and its people.
Since the beginning of the internet this is happening ( the bad people committing crimes)  and no one is willing to shutdown internet because of that, so in that matters Bitcoin should be equivalent. I think those illegal transaction are one of the reasons some governments and the media are trying to depreciate bitcoin, but the problem is not Crypto/blockchain or Bitcoin, is just the society.

That is right, bitcoin itself doesn't have sin about what illegal transactions that happen in our surroundings. It is also true that even bitcoin and cryptocurrency are not already appear, there are a lot of illegal activities that already happened. The really problem is the people whose doing such a illegal and foolish things and even when or where we are or whatever system that we have now it's making non sense because anytime and anywhere those people are doing anything that they wanted to do. However, the things that we needed to do to avoid it is by being much aware and alert to our surrounding and to the people that surround us specially if we're knowing them very well.

[Netnox]

The mainstream media always highlight the association of criminals with Bitcoin. But I find it inconclusive. IMO, the worst criminals in this world happens to be the politicians. Very few of them use Bitcoins, as per my knowledge.

[Ondongeric18]

You are right. Money is not evil unless you turn it into one. A kitchen knife used to slice fruits and vegetables is not evil yet it can be. In the same way bitcoin is just money but you can make it an evil thing. So the society is clearly responsible for all of these. I think a solution for identifying hackers and troublemakers is to make bitcoin half anonymous by granting victim coin holders a chance to identify the hackers  through their wallet and report it to authorities that your account was hacked.

[cryptolk]

There is good and bad thing on every thing but not always. As you aware, Recently world had faced hackers attack. To release victims docs, they should pay in BTC. Hackers used this method to hide destination and get money at home. Its delayed to got rid off the attack