Crypto is increasingly being used for criminal activities

[sapnu]

Considering the large amount of money being transacted under the deep web, cryptocurrencies will be used more likely to provide sufficiency and ease of transactions. Also, the anonymosity the criminals will have can save them from being caught. It was quite evident that bitcoin was really famous in the deep web wherein it is being used as payment by the VIPs to avail services or items that are illegal on the surface web. It seems quite normal that crypto is much tolerated knowing that even itself is not yet legalized in the world.

[1715277469]

1715277469

[tyz]

One of the most widespread but false notions about crypto is that it is mostly used by bad actors for illicit financing: https://blog.coinbase.com/fact-check-crypto-is-increasingly-being-used-for-criminal-activity-and-is-a-haven-for-illicit-856a71dfb399

The lie still persists because it has been constantly repeated for a long time and has burned itself into the minds of many.

Nowadays, even high-ranking CIA employees* say that Bitcoin is used only little (compared to the total Bitcoin transactions) for criminal activities and that its use is even decreasing.

* https://markets.businessinsider.com/currencies/news/how-an-ex-cia-director-proved-bitcoin-use-in-crime-is-declining-10013473

[GeorgeJohn]

We all know that because of the level of anonymousity of crypto identity by users, it has increasingly being hijacked by criminals for laundry and scam activities. It has become a tool of kidnappers and extortionists that is contrary to civilization.

Bro we know vividly that Bitcoin is not used for fraudulent activities, emphasising or capitalizing that Bitcoin is a source or an avenue for fraud, i stand to dispute the point, and be aware that fiat currency is 90% used by criminals, they use fiat for money laundering, politicians embezzle fiat for project, you can't compare cryptocurrency or Bitcoin usefulness to fiat usage, no their is a lot of differentiation between them.

[Alucard1]

All of the crimes that happened in cryptocurrency are mostly happened to fiat currency, laundering and fraud are really common crimes that we have in different countries, we cant kill those problems because criminals are always there, that is their only way of making money and now they have seen the potential of doing those things in cryptocurrency as they know that they are anonymous in the crypto world. This is how popular bitcoin right now, even criminals are using bitcoin for their activities.

[AakZaki]

~snip~ This is how popular bitcoin right now, even criminals are using bitcoin for their activities.

Some news reports say that Crypto, especially bitcoin, is used as a tool for crime. But I think it is only a small part, those who are too smart to use it for mischief because there is a chance. But behind the negative side there are many benefits that we get from digital currency. So until now, if we draw a conclusion, in my opinion, there are many benefits from the losses that have occurred. So I remain optimistic bitcoin is a future.

[Furious 7]

~snip~ This is how popular bitcoin right now, even criminals are using bitcoin for their activities.

Some news reports say that Crypto, especially bitcoin, is used as a tool for crime. But I think it is only a small part, those who are too smart to use it for mischief because there is a chance. But behind the negative side there are many benefits that we get from digital currency. So until now, if we draw a conclusion, in my opinion, there are many benefits from the losses that have occurred. So I remain optimistic bitcoin is a future.

All crimes must be everywhere, including the crypto world, now we see that there are many hacks occurring on every major exchange and indeed this is a small part because it is not often that there is only a little off guard and when crimes have an opportunity they will do it.
But I also believe in the bitcoin system, which in the future will be even more stringent in security and this can make it difficult for crimes to break into the stolen funds that will become the currency of the future and with fairly tight security.
But it cannot be denied that every weakness, there must be something most important in us, we can guard against and don't let our guard down.

[Tessnik]

sometimes I don’t really care about cryptocurrency being used for illegal transactions because I am aware of the level of crime in our society and as cryptocurrency is an anonymous currency criminals will always take advantage of it, but even the centralized currency e.g. the dollar are used for illegal deals, I will say the reason there is an increase in using cryptocurrency by a criminal is that cryptocurrency is mostly referred to as the dark web currency and its transactions can be hardily traced to an individual unless on few occasions.

[Masplanc]

What I just know is that criminals make more use of fiat if compared to cryptocurrencies. All the ransom demanded for by kidnappers in my country are in fiat, not crypto. This is how I believe it is still working in most or all other countries.

Before the first cryptocurrency (bitcoin) was created, terrorism has been so deadly during the time. ISIS, Al Qeada, Boko Haram, Al Shabab, Taliban and many others had been using fiat before 2009 when bitcoin was created.

Cryptocurrencies are yet still money, anything money can be used for good or bad purposes, but should not be centralized on cryptocurrencies because fiat is even yet more faulty in design than crypto.

You said it all
As far as cryptocurrency has value, some people may decide to use it in such activities which will benefit them. @Op don't generalized cryptocurrency as if it is mostly used for  criminal activity. Cryptocurrency plays important role to the society and criminals will also think of away to benefit from it

[BitKongy]

When people said crypto can't be traced I always laugh, why? Because every buyers and sellers always leave behind a foot print, for example crypto exchange, you use them to swap to other coins but let's leave that aside, before you can get crypto fiat must come from somewhere, oh right , straight from your bank lol 🤣 the, changing crypto to fiat or fiat to crypto is where the privacy got broken

[Gunday_07]

Fiat is been used by criminals more than crypto because things are just easier with Fiat, you can easily track faster when it comes to crypto than Fiat, by the way regulations is coming to crypto but still isn't fiat regulated? Have crime rate reduced because of this? No of cos

[pawanjain]

We all know that because of the level of anonymousity of crypto identity by users, it has increasingly being hijacked by criminals for laundry and scam activities. It has become a tool of kidnappers and extortionists that is contrary to civilization.

We all know that very few people are using Bitcoin to pay their bills, but some people are using it to buy drugs or subvert elections. Research shows that illicit activity accounts for less than 1 percent of the overall transactions,of that small portion, scam make up the overwhelming majority of cryptocurrency related crime including money laundering, terrorism, trafficking, or other unlawful activities.

 One of the most widespread but false notions about crypto is that it is mostly used by bad actors for illicit financing: https://blog.coinbase.com/fact-check-crypto-is-increasingly-being-used-for-criminal-activity-and-is-a-haven-for-illicit-856a71dfb399

The title and content of the post are opposite. Could you please change your title to something like ' Is crypto being used for criminal activities ?'

Ever since 2014 the usage of cryptocurrencies for criminal activities have decreased and trading and investments in cryptocurrencies have increased drastically.
Over the past few years the amount of people trading crypto is growing every day. Cryptocurrencies have changed it's direction quite rapidly.
But yeah I was quite surprised to read that the number is less than 1% now.