[2019-04-17]Italy Lost €10 Billion in Cryptocurrency via Cybercrime

[Vladdirescu87]

Cybercrime, such as online fraud, industrial undercover activities, and the use of cryptocurrency for money laundering, etc. in Italy, is the rapidly increasing malevolent business with the highest margins of diffusion in the future, according to the Global Risk Report 2019 by the World Economic Forum. The country incurred a loss of around €10 billion in 2018.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: http://bit.ly/2IG7Ht3

[Slow death]

The rate of malevolent activities such as money laundering, funding terrorism, drug trafficking, and many others, through Bitcoin, is actually fastest-growing in Italy and the world at large. In fact, it was found out that Mafias in the country use cryptocurrencies for money laundering.

he does not say:

- How many money laundering crimes involving bitcoin have been reported

- How many funding terrorism involving bitcoin have been reported

- How many drug trafficking crimes involving bitcoin have been reported

And he does not say who the people who practiced the crimes involving bitcoin and what the punishment was.

Why does not he show proof of these crimes involving bitcoin? because he's probably overdoing the numbers to alarm people and they stop using bitcoin. This looks like the disgusting methods used by my country's politicians.

[Lucius]

Next title I expect from this highly professional news outlet is : Italy facing bankruptcy because of cryptocurrency.

First it is about mafia in Italy who is using bitcoin and some other crypto for money laundering, and now we have the assumption that Italy lost €10 Billion because of hackers who use cryptocurrency. It looks like Italians are hit hard with ransomware and blackmail, and they all pay ransom in crypto

[1Referee]

Not very convincing. The figure of €10 billion is extremely high. They very likely manipulated the metrics, which news outlets love to do. They could have grabbed the total number of coins throughout the whole year of 2018 that they assumed were used in illegal activities, and measured it against the $17,000 value in January of 2018.  

The funny thing is that what they preach against, is very likely the only thing that will be able to offer a solid hedge against their own failing economy, lol.