Criminals and Bitcoin

[jennie.alexander]

Scammers are interested in bitcoin because of its anonymity. Criminal organizations are also involved in money-laundering operations.  All criminal activities has been in existence and on the high level before the introduction of Bitcoin.

[1714915499]

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[triplef]

Not only Bitcoin can be linked with criminals, everything which can be anonymous can be linked with them. So people shouldn’t blame BTC for that or any other thing. Every good invention can be used for bad purpose.

[gelay]

The technology is not the problem actually. The problem is the one using technology. If people are using these technologies in a good way, then we have nothing to worry about and all will go well. But that is not what happening right now. Some people are too greedy and always wants to take advantage. Those criminals only want to steal and get for their self-interest.

Yes, I agree with you. Bitcoin is not the problem, the problem is the one who uses bitcoin and what are the intention for using it. Many people uses bitcoin to improve their daily living. They want to have a better life by the use of bitcoin. But they have many bad people  want to used bitcoin in a bad way. They used bitcoin for their crimes so that they can benefit with it.

[Fog Fence]

Criminals, of course, use bitcoin (although there are much more anonymous coins now, such as Monero). But this does not mean that you can not use bitcoin as a tool to increase capital.

[Bowly88]

Shouldn't this question be posted on Discussion board? This question has nothing to do with Technical Discussion.Use the Move Topic button on the bottom left of your thread to move the topic.

Coming to your question, even fiat money are being used in illegal trades. It's certainly very difficult to track the line of transactions during a theft. Most of them use mixing services for mixing their coins and make them untraceable.

Right, very not appropriate to discuss that thing here. and to post something like that. its a forum what if some criminals are reading what the commentators talking about.

[Star_Bucks]

Bitcoin and Cryptos has nothing to do with crimes, people commit crimes. I guess that the greatest criminals in the world uses USD not cryptos.
There are crimes in many areas in this world and in crypto isnt excluded.
Bitcoin is not totally untraceable but it is hard to do it.

Criminals don't use cryptos because other criminals have less knowledge to steal cryptos. Criminals steal USD because it easy to steal and bitcoim amd cryptos are very secured and its not easy to steal because of the technology. Its hard to traceable and criminals have many idea to commit crimes than stealimg cryptos.

[Dayan1]

Shouldn't this question be posted on Discussion board? This question has nothing to do with Technical Discussion.Use the Move Topic button on the bottom left of your thread to move the topic.

Coming to your question, even fiat money are being used in illegal trades. It's certainly very difficult to track the line of transactions during a theft. Most of them use mixing services for mixing their coins and make them untraceable.

Right, very not appropriate to discuss that thing here. and to post something like that. its a forum what if some criminals are reading what the commentators talking about.

I think it is just okay to post something like this , I mean  the goal of this thread is for us to be aware especially newbie, although it is a little bit misleading, still I think its appropriate . Bitcoin now has a huge name and its gaining attention to diferent parts of the world, although before it has a low security level  , now bitcoin can assure the safetiness of your assets, regarding to criminals, bitcoin is just like money it can be used as a substitute for money so criminals are interested in it, but government is there they mandated this crptos to observe its transactions.

[LemonF3]

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.

Yes,  you are right bitcoin is not the reason about the criminality. Its the people  who has badly motivation about their evil doing...  Bitcoin is not design to provide people for criminality. This new technology is design to improve people's life stayle addressing to invesrment and direct payment thrue the use of internet conection.

[congtuan001122asd]

Bitcoin is stored and traded thanks to the internet. So, hackers took advantage of the carelessness of the user to steal bitcoin. Not so, bitcoin is also used to smuggle, buy weapons.

[Cabecabean12]

according to my personality, there are often misunderstandings about theft and security hacking that occur in various places of exchange and business. Although these things are unfortunate, none of them involves Bitcoin being hijacked
In recent years, security systems have been growing rapidly, such as wallet encryption, offline wallets, hardware wallets, and some signature transactions.

[KrlCrptBoss1]

Check this guy http://bitcoinist.com/dubai-police-arrest-gang-bitcoin-robbery/

[mudasarali43]

Criminals and bitcoin is an issue in some countries it is a big problem because criminals are using payment processor as bitcoin and it is decentralized and some countries have no technology and awareness to track it so that is why this problem is a big issue in some countries

[joganuts]

It is hard to accept but yes there are some people who take advantage in using bitcoin you can count those people as criminals. One of the example that a crime they do is scamming.

[bettyjcrouch]

Not only in bitcoin there are criminals. Criminals use absolutely all currencies. So do not focus on bitcoin and fight it because then you have to ban all currencies

[wasaisisisi]

The criminals and bitcoin I think are inseparable because I believe criminals desperately need the bitcoin for illegal transactions they do such as to purchase their weaponry needs.

[Mhd-Bobbi]

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.

I agree with your answer
it will not be possible. if they (the police or the entity) know it then all of their addresses can take private property. and I think everywhere has done a lot of illegal transactions. including those who make sales and also buy illegally.
I think these are people who report crimes close to him.

[Sam San]

Criminals and bitcoin is an issue in some countries it is a big problem because criminals are using payment processor as bitcoin and it is decentralized and some countries have no technology and awareness to track it so that is why this problem is a big issue in some countries

the use of bitcoin crime is a far-fetched problem. bitkin is used by criminals no more than Fiat or wire transfers.

[Abete]

Unimaginable, how the perpetrators of criminal or suspected terrorists some time ago, chose bitcoin as a ransom tool. This is strange, like framing, I suspect there are financial actors who do not want bitcoin to be big. And there are some hackers also play the same thing, by requesting a ransom with bitcoin.

[azisdoank]

i think bitcoin transaction is anonymous which can be use by criminal for their illegal activities. Even bitcoin has nothing to do with that and only use as currency by them, government will blame to it and transactions with bitcoin can not be canceled or withdrawn. So once a payment is made or a bitcoin is transferred to a different address, then it is finished. No one party can return the bitcoin to the owner. These two things become the advantages as well as the lack of bitcoin. These two things also provide loopholes for cyber criminals to steal other users' bitcoins or use bitcoin as a crime payment currency

[brylle34]

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.

Cryptocurrencies have grown rapidly in price, popularity, and mainstream adoption. The total market capitalization of bitcoin alone exceeds $250 billion as at January 2018, with a further $400 billion in over 1,000 other cryptocurrencies. The numerous online cryptocurrency exchanges and markets have daily dollar volume of around $50 billion. Over 170 'cryptofunds' have emerged (hedge funds that invest solely in cryptocurrencies), attracting around $2.3 billion in assets under management. What was once a fringe asset is quickly maturing.

The rapid growth in cryptocurrencies and the anonymity that they provide users has created considerable regulatory challenges, including the use of cryptocurrencies in illegal trade (drugs, hacks and thefts, illegal pornography, even murder-for-hire), potential to fund terrorism, launder money, and avoid capital controls. There is little doubt that by providing a digital and anonymous payment mechanism, cryptocurrencies such as bitcoin have facilitated the growth of 'darknet' online marketplaces in which illegal goods and services are traded. The recent FBI seizure of over $4 million of bitcoin from one such marketplace, the 'Silk Road', provides some idea of the scale of the problem faced by regulators.
read here for further details" https://www.law.ox.ac.uk/business-law-blog/blog/2018/02/sex-drugs-and-bitcoin-how-much-illegal-activity-financed-through

the big problem is not is not Crypto/blockchain or Bitcoin its the society, even if we use fiat or any thing that has a value if there are bad people that thinks illegal sfuff like weapons, drugs, smugling, pornography etc, there will be always people or to be exact the government will block any means of doing illegal things. but just like what you said its the society not bitcoin or and fiat currency who make illegal things.