French police arrest terror financing ring that used Bitcoin coupons

[cryptopediabd]

This happens usually in everyday because of its hidden engagements. The reasons for using bitcoin here is hidden transfer. I saw last week Twitter hacking using bitcoin payments. So now it is easy to collect for hidden transfer by using bitcoin payments system.

[DarkDays]

I'm not saying that the media is wrong but if you look at the facts as presented you'd at least wonder how 10-15 euros going to support such a large network. Even if they do it everyday, surely that's not enough 


The fact that if such an organisation had this described terrorist role and use cryptocurrency to achieve that should not be surprising. Crypto has long been criticised for its identify protection of its users, it is not surprising that people who are involved in wrongdoing adapt to new ways...

One can only hope that this type of argument isn't going to be used insensibly when negotiating regulation around BTC and crypto. As this isn't going to deter people from doing it, they'll just use a different alternative.

[avikz]

is just a currency.
There is some truth in what you said.
But banks are highly corrupted and there are billions flowing to shady businesses
Look at the recent European banks scandal

https://www.reuters.com/article/us-europe-moneylaundering-explainer-idUSKCN1RG1XI

Who says banking channel is fair in the dealings!! Even they are super shady in many cases. We have seen many example of such things in my country recently. Search Google about PMC bank and Yes Bank scandals.

I have only said that banking channel is highly monitored so a criminal will have to make good connections with the banking people and bribe money to continue their shady dealings through banking channel. That's where crypto came in and took away the risk!

[pixie85]

This happens usually in everyday because of its hidden engagements. The reasons for using bitcoin here is hidden transfer. I saw last week Twitter hacking using bitcoin payments. So now it is easy to collect for hidden transfer by using bitcoin payments system.

What hidden transfers? These days you have to buy coins somewhere. If you buy on an exchange you will not hide anything.

It was pretty easy to do (and still is) for old holders, people who mined their coins or got them before AML laws came into place. They still own coins that are not in any way connected with their real life identities.

[plvbob0070]

It's not new at all, we have already heard or read news about some terrorist groups that are also using crypto for transactions. This kind of news may bring a bad image to crypto and misconception to others but it's not really crypto, it's the people who used them for wrongful activities. Regardless of what kind of currency, these terrorists will always find ways to do what they want, the only good thing about this news is that the police authorities were able to catch them.

[eaLiTy]

The 29 members of the network were busted after being caught purchasing cryptocurrency coupons worth between 10 and 150 euros each ($12–$176) on multiple occasions in recent months from tobacco outlets across France.

These words are strange, it implies that the entire network were busted because they were found purchasing BTCitcoin coupons worth 10 to 150 Euros.I am not following the case but these are just made up words just to add BTCitcoin and nothing else. What are the chances of an investigation taking place when people are purchasing coupons worth 10 to 150 Euros, does that imply that the entire BTCitcoin sales are closely monitored by the authorities and cross checking every sales:.

[Sadlife]

Its good to know that criminals cannot longer operate their work under the anonymity of Bitcoin, surely this is enough proof for regulators that Bitcoin can be regulated and not full proof for money laundering, and criminal activities thanks to the Blockchain, you can look up any public addresses that process transactions, and vast technology to trace that specific user.

[MCobian]

Like many terrorists who don't know about Bitcoin and don't understand Bitcoin, they thought using Bitcoin would be safe
and impossible to trace. Even though in fact Bitcoin is easier to trace, because transactions using Bitcoin are very transparent,
that's why corrupt governments do not accept Bitcoin. So when reading an article about the French police catching terrorists
funding networks using Bitcoin, makes me even more sure Bitcoin is easy to trace.

[maxreish]

They have thoght they'll never get caught.
 Even they used such bitcoin coupons for their evil purposes, authorities will gonna find them for sure. It was such a disappointment that those tobacco companies that was firstly adopted blockchain and cryptocurrency coupons and payments were just adopted it for the main purpose of supporting the terrorists.
 
 Sad that those were just using bitcoin for evil acts and not for the main purpose of using it as a new technology and  new form of payments for the development of systems.

[Kakmakr]

I am ever the optimist ..... I am not focused on the fact that they used Bitcoin for their criminal operation, but rather that they were caught doing this. Let's say they smuggled in some Gold or Diamonds and they sold that to finance their operation... then this would not even reach the mainstream media... but now that Crypto currencies were used... the media is all over it. 

It just shows you... if you want to hit someone ... you will always find a stick and a reason to do it.. right.     The centralization of Crypto currency trades ...will offer opportunities for law enforcement to catch these terrorists. 

[adzino]

Its good to know that criminals cannot longer operate their work under the anonymity of Bitcoin, surely this is enough proof for regulators that Bitcoin can be regulated and not full proof for money laundering, and criminal activities thanks to the Blockchain, you can look up any public addresses that process transactions, and vast technology to trace that specific user.

Look up public address and trace that user? Yes, you can use the blockchain to to look up a transaction, but you won't be able to trace that user with just the public address since bitcoin is pseudonymous. If someone can somehow associate the address with a person (like maybe he completed a kyc form on one of his exchange account and used this address to withdraw), it is then he can be identified.

I'm not saying that the media is wrong but if you look at the facts as presented you'd at least wonder how 10-15 euros going to support such a large network. Even if they do it everyday, surely that's not enough 

Its 10 to 150 EURO. Not 15 EUR. And they are like 29 of the people buying it everyday. So yeah, they do rack up enough funds within a month.

[hatshepsut93]

I have only said that banking channel is highly monitored so a criminal will have to make good connections with the banking people and bribe money to continue their shady dealings through banking channel. That's where crypto came in and took away the risk!

That's exactly what's happening, and big banks get exposed for that, but with very little actual consequence. And Bitcoin might be useful for small criminals, but it's actually hard to move large amounts of money undetected, because Bitcoin itself is not that big, so some sudden spikes in transaction amounts would attract interest of chain analysis. So, banks are still the choice of big criminals like drug cartels, mafia, corrupt politicians, dictators, etc.

[rodskee]

This happens usually in everyday because of its hidden engagements. The reasons for using bitcoin here is hidden transfer. I saw last week Twitter hacking using bitcoin payments. So now it is easy to collect for hidden transfer by using bitcoin payments system.

and this is why the reputation of Bitcoin becomes worst because of stupid people that dealing with it without a formal knowledge.
they do transacting while know nothing about cryptocurrencies and after being victimized they will blame Bitcoin.
this must be stopped either the scammers and also the noob victim.
they must learn first before using this or else this will happen everytime.
even those people that knows bitcoin sometimes can be lured by scammers what more the noobs.

[n0ne]

As most of the users mentioned Bitcoin is just a currency. A coin has got two sides, same is with bitcoin and other things that having value. It is up to the user making use of it. In this news the terrorism supporters have used bitcoin as a source. Same as this USD too is used in large scale in the global market on illegal needs. The media is the one that always tries to indicate bitcoin and cryptocurrencies as wrong instead of indicating the person involved in it.

[worldofcoins]

Bitcoin is a currency.
Any currency can be used for evil means.

Dont terrorists and drug dealers use USD as well?
Bitcoin is just a currency.

You're right but as we all know its illegal use bitcoin in some areas.
There are many advantages of bitcoin but there are some disadvantages too, Bitcoin can be used anonymous worldwide without knowing anyone.
You can not reach that person who receives or send the bitcoins.

That's the reason the police can never approach you. The use of bitcoin can make you more secure from anyone who wants to trace you. They can be caught if they use USD instead of bitcoin

[Zionatin]

Bitcoin is a currency.
Any currency can be used for evil means.

Dont terrorists and drug dealers use USD as well?
Bitcoin is just a currency.

Exactly. Just like any object can be used as a murder weapon. Criminals will use everything at their disposal. Terrorists using tabacco shops to fund whatever they doing sounds hilerous and strange to me at the same time.

 

I do believe these kind of people don't understand a simple thing " Bitcoins was made for the people so that they can finally get away from the oppression of big companies and the government itself, thud if they do any harm to the image of bitcoins , they are not gaining profit in any way , nor they are causing problems for anyone , but for them "

These kind of people cannot even appreciate an invention that was made for the people to gain some power. Especially associating bitcoins with terrorism is beyond irreparable.

This is why government wants everyone to do KYC and such even for the most private wallets !

Goverment wants you to pass KYC? For what? Which goverment? Maybe insane ones. Good luck with that.

[davis196]

Damn,I never knew that Bitcoin "coupons" are being sold in tobacco outlets in France.
Perhaps Bitcoin gift cards/coupons will be an easy way to introduce BTC to more non-tech savvy people and help for further adoption of Bitcoin.Unfortunately,Bitcoin can be used for evil deeds,not only for good deeds.
By the way,good job done by the French police.

[Becky666]

Crypto is a tool that anyone can use. Therefore, another news denigrating crypto. In this case, this is bad for the industry.

We're not afraid of their bad named called because no  currency under the watch of the World Bank that's not been used for dubious illicit transactions online. Though them be caught in this action makes it  clear that, the hidden transactions we all thought before now aren't hidden anymore. Bitcoin still the very best  online currency that has the solution to world financial problems, in respective of the bad guys usage bitcoin is the true money.

[budi691]

yes I totally agree with you bitmover, Bitcoin is a currency, many people use it in the wrong way so as to damage the image of Bitcoin in society,
Bitcoin problem for what?
if bitcoin is used for charity, people will think good, but if Bitcoin is used for evil they will think Bitcoin is bad,
it all depends on what people use it for, bitcoin is just a digital currency so it depends on what it is used for, not the wrong bitcoin but the wrong person using it.

[Yatsan]

This ways or acts from certain groups of people make a big negative impact concerning the impression and popularity they gave towards Bitcoin usage which makes people as well as the government think that it must not be legalized for the fact that it can be used as a tool for fraudulent act and terrorism. Yes it is kinda true but Bitcoin was just a currency and to begin with, it must not be blamed for all those activities because people are the ones abusing the usage of it into negative activities that on the first place usage of Bitcoin is intended for good use because of its decentralization and giving people possibilities and opportunities to gain a handy amount of money from it. It is just so bad that those kind of people is making a stain on Bitcoin's reputation for doing such activities and making use of Bitcoin to make their transactions possible to be conducted.