4 Bitcoin Traders Arrested Due To Illegal Trading

[Nrcewker]

Please update the title of the thread OP, it should be 4 Bitcoin traders arrested due to money laundering.
Seriously these types of threads really leaves bad impression on newbies.
Nevertheless those who do crimes they should be punished.
The bitter truth is that the criminals are using Bitcoins for these ill deeds.
Let’s now share news only which covers great things done with BTCs.

[pawanjain]

Bitcoin is famous and journalists like to portray bitcoin as a negative influence on people.
Have you ever seen any positive news about bitcoin on TV ? Mostly no right.
So whenever bitcoin is involved in any crime the journalists put the limelight on bitcoin as if it is because of only that the crime had happened.
People should understand that it's because of the negative mind of the criminals that crimes happen.
All the other things are just a catalyst.

[worldofcoins]

Bitcoin is famous and journalists like to portray bitcoin as a negative influence on people.
Have you ever seen any positive news about bitcoin on TV ? Mostly no right.

Not all journalists like to portray bitcoin as a negative influence some do.
On the news however, it's a different thing but I've seen Negative, positive, and neutral info regarding bitcoin on the news, mostly negative when bitcoin was under 1k.

So whenever bitcoin is involved in any crime the journalists put the limelight on bitcoin as if it is because of only that the crime had happened.

It's not only on bitcoin, but the majority of the news is shown in a way where it's supposed to intrigue the audience and what's better than bitcoin.

People should understand that it's because of the negative mind of the criminals that crimes happen.
All the other things are just a catalyst.

Criminal and not criminal. In the case of this thread, those 4 were involved in money laundering, which could've been due to the use of bitcoin, most likely they used some mixer and the authorities came to know about it when they got the physical components of their computer on which they were doing this.

[stompix]

@stompix, nah actually those might be the devices they were using to do the scam. Usually such scams happen in rented apartment or some cheap quarters without any documentation.

I know those were the devices used but really, look at the situation, they grabbed the mice and keyboards and power cables and put them on a  table, I understand the mobile phones and the laptops as proof since obviously there are way too many phones for 4 individuals, but the power cables? Why not grab the chair and table they were sitting on while doing the scam? Why not grab the sockets from the wall and the copper wire which enabled the scam also?
My point was only on the stupid show-off, like when you have a murder and you proudly present a knife in the picture, of course, labeled "knife" since not everybody knows how a knife looks. This is just stupid!

You saying that got me thinking of the early days of these cat-fishing scams running rampant. With those emails people receive saying they can get money sent to them from a nigerian price. Atleast those sending the emails wouldn't get caught.

A lot of them get easily caught, the only problem in finding them is that they reside in countries where they don't really give a damn about scams, it's not about the traceability but the share unwillingness of the police to do something.
I'm pretty sure these guys would have got away just as easily if, and I'm 100% sure we will find just a few weeks later, woundn't be spending money like crazy and buying tons of stuff while being probably unemployed. What's stopping them from leaving Bangladesh, going into a foreign country with BATM, withdrawing or dealing on the local market and getting all the fiat they needed? They don't even need to come back!

[boris singer]

but they are also being arrested because they are doing some kind of money laundering. According to the news, they first use some illegal and banned dating websites, then from other countries' people take dollars, then they convert those dollars into cash through the p2p method.

This is not money laundering, this is an outright dating scam, probably pretending to be some rich sexy asian girl that lures men into investing in some business she knows and runs, we've had tens of those scam reports here with tens of people still falling for it.

News like that won't be too crowded to visit if the focus is on direct dating scams but it's a different story if there are elements of Crypto, especially bitcoin, which is the main focus lol.
But indeed in this case again and again news about bitcoin being targeted as if this is the worst thing there is because scams are always Crypto related.

[Hypnosis00]

They got arrested for violating the rules - it was money laundering and for sure those who got caught will certainly be put in jail.
I'd see scams, money laundering, and any form of criminal activities are immensely growing this time. It may be people had really seen that these doings can make them rich instantly without thinking about the possible results and yeah, getting into jail is what they really end up with. More and more people who love doing these things will soon be found and face the consequences of their wrongdoings.

[Baofeng]

And the thing with this criminals, is why the hell they will want to involved themselves in bitcoin? to hide their illegal money? It will be a double whammy if they are caught since it is illegal in their country. So I guess this case is just pure scamming about their fake dating sites and nothing directly related to bitcoin, they should used Monero  . Put them criminals in jail asap, for their almost perfect crime.

[adzino]

Bitcoin was illegal in their country. They knew about this. They were still using bitcoin and trading with it. They are breaking the laws, so they were arrested. Based on what you wrote, it looks like they were also scamming people through dating sites and was using bitcoin to hide those money and launder it. So it looks like they were actually targeted for committing mass scam, not trading bitcoins.
At least they got caught when they thought no one could catch them if they used bitcoin!

[erep]

I think the media exaggerates the related side of Bitcoin for bad news headlines because India has banned Crypto activity, if we analyze all news content then the influence of crypto should not be related because it is the fault of the perpetrators to deceive others under the guise of illegal dating service sites and operate fake business investments. . In conclusion, without the involvement of Bitcoin then they are still perpetrators of fraud, but what if they use fiat currency, then should fiat be banned?

We see other reports for different cases, The Rapid Action Battalion has arrested 4 perpetrators for being involved in illegal Bitcoin transactions in Bangladesh, just stop there and we will see further facts, The four perpetrators buy videos from "dark" porn sites and then sell them and they are experts at hacking credit cards to buy bitcoins. And again, it has almost nothing to do with Bitcoin, so it's all just an effort to pressure people to avoid using crypto.

^{https://archive.dhakatribune.com/bangladesh/crime/2021/06/20/rab-arrests-4-for-bitcoin-trading}

[justdimin]

Please update the title of the thread OP, it should be 4 Bitcoin traders arrested due to money laundering.
Seriously these types of threads really leaves bad impression on newbies.
Nevertheless those who do crimes they should be punished.

The title is fine because money laundering is still an illegal activity. They trade dirty money for a clean one only to get away with their crimes but luckily they are still caught. I don't think a thread/news like this will give btc a negative impression as long as the reader will understand what they are reading properly. It is clearly said arrested for illegal trade and not arrested for doing a normal/legal trade but even if the 4 guys didn't do money laundering, what they did is still wrong because it's already declared that btc on their country is banned but they didn't obey the rules.

The bitter truth is that the criminals are using Bitcoins for these ill deeds.

They use btc because it's online and it's also kinda anonymous so they think they won't get traced by the authorities.

[Rockstarguy]

comes from Bangladesh that 4 people were arrested by RAB-5 (Rapid Action Battalion) for the purpose of illegal bitcoin trading. The news I read is in Bengali, and if I translate the news, then according to the news sources, those 4 people who are placed in Narshingdi are arrested not only for using bitcoin, though bitcoin is illegal in Bangladesh, but they are also being arrested because they are doing some kind of money laundering.

They were not arrested because bitcoin is illegal in the country where they come from. The main reason why they were arrested is because they are using bitcoin in a wrong way, because if it was fiat they were using for the same purpose they will still be arrested because it still scam they committed. They should not blame bitcoin for their arrest but put the blame to themselves for their crime comiited.

[buwaytress]

Look at what they were doing first before getting in a twist guys. You do shady things, you attract the eyes of the law. Probably tens of thousands of Bangladeshi using BTC and the law isn't batting an eye at them (even though it is technically illegal to even hold).

But these four were laundering money, and that's really what they were caught for. So let's not get ourselves all wound up about police hunting down Bitcoin users, because that's not the right headline.

[GiftedMAN]

Please update the title of the thread OP, it should be 4 Bitcoin traders arrested due to money laundering.
Seriously these types of threads really leaves bad impression on newbies.
Nevertheless those who do crimes they should be punished.
The bitter truth is that the criminals are using Bitcoins for these ill deeds.
Let’s now share news only which covers great things done with BTCs.

The bitter truth is that when people come across any bad news like stealing or money laundering Bitcoin is always seen as the bad guy this is because the government has influenced the media to always spread bad rumors about Bitcoin so that people will be discouraged to use Bitcoin for their transactions. As a Bitcoin believer and as one who is on Bitcointalk, I think the op can discourage this news by updating the title of this thread so that the plans of the government and media to destroy the good and usefulness of Bitcoin will not be achieved. Fiat currency has always be used by drug dealers and politicians to do their illegal transactions but the government has not hated it the way Bitcoin is hated in their sight.

[Kelvinid]

comes from Bangladesh that 4 people were arrested by RAB-5 (Rapid Action Battalion) for the purpose of illegal bitcoin trading. The news I read is in Bengali, and if I translate the news, then according to the news sources, those 4 people who are placed in Narshingdi are arrested not only for using bitcoin, though bitcoin is illegal in Bangladesh, but they are also being arrested because they are doing some kind of money laundering.

They were not arrested because bitcoin is illegal in the country where they come from. The main reason why they were arrested is because they are using bitcoin in a wrong way, because if it was fiat they were using for the same purpose they will still be arrested because it still scam they committed. They should not blame bitcoin for their arrest but put the blame to themselves for their crime comiited.

And they'll think they are safe enough to use Bitcoin illegally and it was unfortunate that their actions made them to regrets their whole life.
This will imply that the authorities are aware of the situation that Bitcoin can be a tool for money laundering and they know that many people will take advantage of this but too unfortunate that these people got arrested in time before they find another victim. No way these scammers will tend to move freely and trick innocent people, they all got caught and receive their penalties.

[minairia3]

comes from Bangladesh that 4 people were arrested by RAB-5 (Rapid Action Battalion) for the purpose of illegal bitcoin trading. The news I read is in Bengali, and if I translate the news, then according to the news sources, those 4 people who are placed in Narshingdi are arrested not only for using bitcoin, though bitcoin is illegal in Bangladesh, but they are also being arrested because they are doing some kind of money laundering.

They were not arrested because bitcoin is illegal in the country where they come from. The main reason why they were arrested is because they are using bitcoin in a wrong way, because if it was fiat they were using for the same purpose they will still be arrested because it still scam they committed. They should not blame bitcoin for their arrest but put the blame to themselves for their crime comiited.

No, the main reason they get caught is doing a scam involving fake dating sites and unfortunately for them, they are using bitcoins to trade and launder money, bitcoin is banned in their country. Their crimes will become more serious.
They deserve to be arrested for their deceptive behavior and bitcoin accidentally fell victim in this incident, also they should not use bitcoin to transact because bitcoin is banned in their country.

[noorman0]

This is not money laundering, this is an outright dating scam, probably pretending to be some rich sexy asian girl that lures men into investing in some business she knows and runs, we've had tens of those scam reports here with tens of people still falling for it.

As of the original news article, no fraud attempts have been made. The four of them actually act as crypto p2p traders via a dating app (maybe they have more customers coming to that app). And what the authorities consider criminal here is that they evade taxes.

বিক্রয় এর মাধ্যমে বাংলাদেশ সরকারকে কর ফাঁকি দিয়ে অবৈধভাবে কোটি কোটি টাকা হাতিয়ে নিচ্ছিলেন।

translated: He was illegally grabbing crores of rupees by evading taxes from the Bangladesh government through sales.

And here's the funny point, how does one file a tax on a crypto transaction if it's illegal? In essence, they just started the business in the wrong country. If they comply with the tax rules, they will still be arrested.

[kryptqnick]

I don't think financial crimes should normally be a huge offence (because no person is getting hurt from that), and not paying taxes shouldn't be a big enough crime either. What is going to happen to these people? How big of an offence is it in Bangladesh? In my country, when someone's arrested and it makes it to the news, the article from the law under which a person is prosecuted and what punishment that article entitles is usually provided. Is it a big fine? Probation? Community service? Perhaps even prison time?
If it's not just money laundering/tax evasion but something like a dating scam, though, it's another thing and I don't have much sympathy for those engaging in such stuff.

[mk4]

I know those were the devices used but really, look at the situation, they grabbed the mice and keyboards and power cables and put them on a  table, I understand the mobile phones and the laptops as proof since obviously there are way too many phones for 4 individuals, but the power cables? Why not grab the chair and table they were sitting on while doing the scam? Why not grab the sockets from the wall and the copper wire which enabled the scam also?
My point was only on the stupid show-off, like when you have a murder and you proudly present a knife in the picture, of course, labeled "knife" since not everybody knows how a knife looks. This is just stupid!

Precisely, this was just to say to the public — "look how much stuff we confiscated!". I'm guessing that the typical non-techie person will look past it — since for some people, when you say "computer", they'd think mouse and keyboard.

Really though, they should've just locked up the place where their operations are being ran, and added some yellow crime scene tape. That would probably be a more "dominant" display.

[amishmanish]

I see in countries where law is not able to control rogue elements properly, crime do happen. I doubt if Bangladesh is a safe place international travellers as well. There is lot of mafia activity of different sort. Chit fund scams among other financial crimes, so there is tendency to resort to easy money making tricks, whether it's fiat or crypto. Yes this time these thugs tried their hand on crypto

[Leviathan.007]

We cannot be sure about what they do because as far as I know in Bangladesh the police started to raid the exchanges and take hard on the bitcoiners and cryptocurrencies-related activities, As I understand it, we can't just rely on the news that we read about these scammers, but I think we should be happy to see them arrested if they are scammers who use cryptocurrencies for a bad cause. Unless, of course, they are doing p2p deals, and if they have been arrested just for doing so, I hope there will never be another case like this where people are arrested because they have chosen not to involve the government in their deals by not paying taxes. By the way and according to what we see in these articles they were not bitcoin traders.