First Terror Attack Related With Bitcoin - INDIA

[kryptqnick]

For the first time a IS terror attack planned for execution is related to bitcoin. Couple have been arrested in Delhi, and on investigation the funding process happening through bitcoin is found. On further back tracking it was from a women from UK sending funds to the respective wallet. The attack has been planned to be executed in fourteen places at once. Already the government has been opposing the usage of cryptocurrency. Now this will be an added opportunity to stop usage of cryptocurrencies.

Source : Bitcoin to Fund Terror

Oh, please. If terrorists use dollars it's totally fine and people still use dollars, but if they use Bitcoin, it's money for crime and this money should be condemned? Double standard is what it is. Money shouldn't be judged by such occasions of it being used for illegal activities because otherwise there won't be any money (because all of it is used for illegal activities). It's a logical fallacy to transfer our feelings about the event to the kind of money that was used to help this event. Terrorists are bad. They use Bitcoin, ergo, Bitcoin is bad - this is not how this works!

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[CryptoYar]

Use of bitcoin can be bad, but it does not mean that it should be banned. Earlier in India, terrorists were financed in dollars. Shouldn't dollar currency be banned? Not at all, because there is no fault of any currency in this, but it depends on the people how they use it. However, I have been hearing about the crypto ban in India for a few months. I think the Indian government will not let this opportunity go by hand.

[TedMosby]

usually, after there's bad news about bitcoin, mainstream media will explain what is bitcoin, the price, etc.
but I hope it won't leave a bad impression about bitcoin in India.

in 2015, there was a bomb terror at a well-known mall in my country. the terrorist wanted 300 BTC to the mall.
the bomb exploded and became big news on media.
it wasn't related to something related to religion.
it just a one-man-show terror with poor economic background.
also, I read that 1 week later, the mall sent him $50 in bitcoin. lol

[akram143]

For the first time a IS terror attack planned for execution is related to bitcoin. Couple have been arrested in Delhi, and on investigation the funding process happening through bitcoin is found. On further back tracking it was from a women from UK sending funds to the respective wallet. The attack has been planned to be executed in fourteen places at once. Already the government has been opposing the usage of cryptocurrency. Now this will be an added opportunity to stop usage of cryptocurrencies.

Source : Bitcoin to Fund Terror

Terrorist use bitcoin so we need to ban bitcoin so if fiat used by them can government ban the fiat money which is printed by them?

Government should oppose the terror activities and need to find the root that is the good way to handle this issue.

[target]

usually, after there's bad news about bitcoin, mainstream media will explain what is bitcoin, the price, etc.
but I hope it won't leave a bad impression about bitcoin in India.

in 2015, there was a bomb terror at a well-known mall in my country. the terrorist wanted 300 BTC to the mall.
the bomb exploded and became big news on media.
it wasn't related to something related to religion.
it just a one-man-show terror with poor economic background.
also, I read that 1 week later, the mall sent him $50 in bitcoin. lol

Giving $50 in BTC is probably the reason why the bomb exploded. lol

This attack traced by NIA is for 14 places which 100 bombs will be detonated. That would be massive. Even the time when BTC wasn't around the terrorist are already making transactions, selling diamonds and all the stuff for the weapons they want. Much like a procurement to a shadow company who will send these bombs to them, its hard to trace the money trail that it could take months to years but all they have are still theories. With BTC, its tx is a pure trail.

[Chris Barth]

It is quite unfortunate that this would only add up as more reasons why the government should not accept bitcoin. But if we are honest with ourselves, there have been thieves, robbers, and even kidnappers long before bitcoin was created. Labeling bitcoin as illegal doesn't solve this.

[Mugtaiya]

Same thing could of happened if they sent the funds of terrorism using moneygram.
This is just getting lame.

[eaLiTy]

Now this will be an added opportunity to stop usage of cryptocurrencies.

They can use this as an excuse but when i read the article there are many contradicting statements.

For example, these are from the article

Cryptocurencies such as Bitcoins leverage a technology known as blockchain, a decentralised, distributed ledger that tracks transactions. These are anonymous and nearly impossible to track, and are commonly used in dark web transactions.

They say that it is a distributed ledger that tracks transactions but in the very next sentence they say it is nearly impossible to track  .

The fact is, it cannot be both because it tracks transactions and hence it is possible to track every transaction that is made.
And in the article it says that millions of BTCitcoin are confiscated by the authorities that are used for funding terror and that cannot be said about fiat currency as it does not have a paper trail.

[verita1]

It is sad news that we cannot avoid. Bitcoin can be used by terrorists. How can they convert it to Fiat? Because they need the Fiat, I don't think it will be easy for them. Also the most powerful currencies that we know have been used by terrorists to finance their actions. I don't think this will negatively affect Bitcoin to a great extent. Although there will always be someone who points to Bitcoin with these facts.

[Krislaw]

They're not even related. Bitcoin is a currency, just only decentralized. They just are just waiting for an event like this to happen and then use as an excuse.

I read a news about someone that shoved gold into his anus just to smuggle it in the airport. Why not ban gold?
The crypto community needs to be careful. We shouldn't give them reasons to ban cryptocurrency.

[Gibreil]

Bitcoin is always used in the wrong side. I don`t why people will look at bitcoin to use in criminal activities such as being terrorist, scamming and hacking. There is always a dark light when btc tries to develop its name to the public. This news might reflect to other people bad again. The trust that bitcoin`s earn will fade away due to the criminal who destroy its reputation. Due to its decentralization, people are taking advantage to use it in bad things.

[stomachgrowls]

For the first time a IS terror attack planned for execution is related to bitcoin. Couple have been arrested in Delhi, and on investigation the funding process happening through bitcoin is found. On further back tracking it was from a women from UK sending funds to the respective wallet. The attack has been planned to be executed in fourteen places at once. Already the government has been opposing the usage of cryptocurrency. Now this will be an added opportunity to stop usage of cryptocurrencies.

Source : Bitcoin to Fund Terror

This isnt something new where Bitcoin had always that kind of negative image when it comes to money laundering and funding out terrorism. Why they wont make out such headline that
fiat itself also been used?

They are just trying to emphasize that Bitcoin shouldnt really be that to be adopted due to this kind of possible usage without even thinking that this had been done
for centuries now when it comes to terrorist's funding.

This might be the first confirmed funding yet back in the past, those are just presumptions or assumptions and now it has been proven, then what?

[acroman08]

I am sorry to hear that. I wonder how much the media, government officials will blame bitcoin for this. I am sure there will be a lot of outrage towards bitcoin at the end of it all.

a part of me can't help but wonder what if this could just be a ploy in order to push through the banning of cryptocurrency in India? I know that the thought is baseless but it wouldn't be the first time a government official or someone with enough money would have done something like this.

[tippytoes]

I am sorry to hear that. I wonder how much the media, government officials will blame bitcoin for this. I am sure there will be a lot of outrage towards bitcoin at the end of it all.

a part of me can't help but wonder what if this could just be a ploy in order to push through the banning of cryptocurrency in India? I know that the thought is baseless but it wouldn't be the first time a government official or someone with enough money would have done something like this.

Another news that will highlight the use of bitcoin in terrorism. This is sad news as they will use this as another example not to be pro-crypto. And this is not good news from all crypto users coming from this country. A lot of them are earning income during this pandemic. Thanks to bitcoin. But hopefully, their government will understand the situation and how crypto will change more lives rather than destroy them.

[adzino]

Yup, let them stop using bitcoin, go against it and ban it while rest of the world are embracing it. Just because a group of extremist used bitcoin, doesn't mean the country should start banning using bitcoin. I have heard India has money corruption problem. Tell your leaders to start using bitcoin and keep everything transparent. I doubt they will since it is going to hurt their black business. Oh, tell them that people also use fiat currency to finance terrorism and they should start banning fiat too. Would be great to go back to barter system. No more terrorist financing.

[slaman29]

This is not at all related to Bitcoin. If the terror funding was using rupees, would this be a Rupee related terror attack? If they used seashells, would it be related?

When they catch these guys because they traced their transactions with blockchain, then they'll realize the reason they were successful is related to Bitcoin.

[DrG]

Much ado about nothing. People financed wars with livestock thousands of years ago. You don't see people looking at cattle farmers as deviants these days (I hope not any ways). The title is another piece of clickbait sensationalism.

When more than 1% of larger terror events are funded by crypto then it will be an issue. Until then everything from pressure cooker bombs to sarin gas attacks will be funded by local currencies and the international banks that have habitually looked the other way. There's still gold in Swiss banks that is literally smelted from murdered people's teeth, but neutrality and all that...


Remind me again how many people at HSBC went to prison for financing global terror?
https://www.icij.org/investigations/fincen-files/global-banks-defy-u-s-crackdowns-by-serving-oligarchs-criminals-and-terrorists/

[GreatArkansas]

This is not really something new. A lot of secret funding have been going on with bitcoin. Bitcoin is actually not the problem.
(....)

You got a point here, it's already a lot of people using Bitcoin for these kinds of attacks or some criminal activities.
This is what Bitcoin made for; to have the freedom on using our own funds. But not use it for criminal activities.
I am not also a hater of the government that wants to ban using cryptocurrency since for them it's the best they can do to stop these kinds of criminal attacks using Bitcoin or other cryptocurrencies. But banning will still not make totally solve it, there will be always alternatives.

[tbterryboy]

For the first time a IS terror attack planned for execution is related to bitcoin. Couple have been arrested in Delhi, and on investigation the funding process happening through bitcoin is found. On further back tracking it was from a women from UK sending funds to the respective wallet. The attack has been planned to be executed in fourteen places at once. Already the government has been opposing the usage of cryptocurrency. Now this will be an added opportunity to stop usage of cryptocurrencies.

That Bitcoin to be used to fund terrorist activities has been one of the points that the government has used in declaring Bitcoin illegal. This has been said for a long time. But, the same Bitcoin that has been used for funding terrorist attacks, has also been used for good purposes; a country that was doing protest as of recent had their accounts blocked because of the protest and they had to use Bitcoin to keep the protest going.

So, anything that has a bad side to it also has a good side to it. But it really makes me angry when I am seeing people who are making use of bitcoin for the wrong purposes. These people needs to be severely punished for their evil plans.

[samputin]

~ Already the government has been opposing the usage of cryptocurrency. Now this will be an added opportunity to stop usage of cryptocurrencies.

~

With that incident, what you said just gave their government another reason to oppose crypto's usage in their country. Their currency or others (like dollars) may and can be used to conduct such attack but when it comes to crypto, it's a total different story for them. What's even more sad is that, if people from other countries hear about this, they might look at bitcoin as a mere tool for wrong doings and might not patronize it without even looking the benefits it can give.