Topic: [2017-09-11] Criminals Thought Bitcoin Was the Perfect Hiding Place... (Read 6211 times)
September 15, 2017, 01:54:14 AM
I also thought that it was really anonymous too but I guess it's really true that nothing is untraceable in the cyber world. Criminals thought bitcoin was the solution to make illegal transaction online without knowing their identities but they got it all wrong.
September 14, 2017, 05:33:58 PM
Criminals thought Bitcoin was the perfect hiding place but they were proven wrong. Bitcoin is a transparent ledger since all transaction and bitcoin movement can be seen on the blockchain. Probably this is one of the early hyped attached to Bitcoin and those who FUD Bitcoin using this misleading fact again and again.
I agree those who think they can use Bitcoin to clean their money does not really know Bitcoin.
That's the thing - Bitcoin WAS the perfect hiding place. But not so much people know about hat as I see. With development of technologies it became easy to trade the whole way of bitcoin transaction. I think only silly person will use bitcoin for money washing or corruption today.
I agree those who think they can use Bitcoin to clean their money does not really know Bitcoin.
September 14, 2017, 02:23:41 PM
September 14, 2017, 06:52:43 AM
These criminals probably do not know very long about the crypto currency and the basic principles of transactions. I do not like the fact that a lot of news is connected with two words "bitcoin" and "criminals". This makes a wrong public opinion about the crypto currency
September 13, 2017, 09:41:47 PM
In some strange way we should thank criminals for beta testing bitcoin.
September 13, 2017, 04:50:58 PM
Bitcoin can not hide the identity and all transactions can be tracked actually. As I see not so many people know it yet, that's why on news we hear about catching of some new bad luck "criminal". I do not support criminal activity, but there are altcoins that can to hide identity fully, such as Monero and ZChash.
I think that the criminal world is also following the news in the world of crypto-currencies. Therefore, the most cunning fraudsters have long used alternative coins that fully provide anonymity
September 12, 2017, 12:44:52 PM
Only 'dumb' criminals thought Bitcoin was a perfect hiding place. It is much more open and transparent than cold hard cash. And 'real' criminals know that.
September 12, 2017, 06:55:14 AM
According to some resources the recent ransomware attackers have already exchanged their Bitcoin for cash, but by first passing their Bitcoins through a mixer which made it tough to know the source. Mixers can largely help in hiding any Bitcoin transactions that too easily. But according to another resource, the use of Bitcoin in illegal activities have reduced to half and people have started using other cryptocurrencies for the same.
A few major mixers, including Bitmixer.io have alluded to being aware that a large part of their clients were from dark markets or involved in illegal activities. However, what is apparent is that intelligence software used by law enforcement has caught up and is still able to track users even with the long trail of mixing. It was precisely Bitcoin use that led to recent captures, despite using mixers. It's worth to note that few mixers have updated their techniques.
what mixers are they using, now that Bitmixer.io is closed?
There's a major, new player, whose ads you'll find plastered prominently in this forum. I also happen to be a supporter, as you can see. The admin reported a huge surge of new clients immediately after Bitmixer's closure. I'm sure the other mixers saw increased traffic as well.
September 12, 2017, 06:17:32 AM
Bitcoin addresses are just meaningless strings. You can't identify anyone by looking at them. Problem is that users can be identified when they buy/sell BTC. With government attacking mixers now, I expect people to start buying Monero and sell it for bitcoin straight after on some exchange.
September 12, 2017, 06:07:14 AM
Bitcoin can not hide the identity and all transactions can be tracked actually. As I see not so many people know it yet, that's why on news we hear about catching of some new bad luck "criminal". I do not support criminal activity, but there are altcoins that can to hide identity fully, such as Monero and ZChash.
September 12, 2017, 02:06:45 AM
A notice to people using Bitcoin for illicit purposes: you can run, but it’s getting a lot harder to hide. Law enforcement officials are using Bitcoin’s public ledger, called the blockchain, to follow the digital money and track down suspected criminals using it.
As the most popular cryptocurrency, Bitcoin has helped fuel the rise of ransomware attacks—extortion schemes, like the recent WannaCry cyberattack, in which hackers hold the contents of a victim’s computer hostage until they get paid. Criminals can use Bitcoin to collect ransoms easily and without having to reveal their identities. The currency has also been associated with online drug sales, money laundering, and sex trafficking.
Read more @ https://www.technologyreview.com/s/608763/criminals-thought-bitcoin-was-the-perfect-hiding-place-they-thought-wrong/
As the most popular cryptocurrency, Bitcoin has helped fuel the rise of ransomware attacks—extortion schemes, like the recent WannaCry cyberattack, in which hackers hold the contents of a victim’s computer hostage until they get paid. Criminals can use Bitcoin to collect ransoms easily and without having to reveal their identities. The currency has also been associated with online drug sales, money laundering, and sex trafficking.
Read more @ https://www.technologyreview.com/s/608763/criminals-thought-bitcoin-was-the-perfect-hiding-place-they-thought-wrong/
Pretty dumb idea if tou ask me. Because using bitcoin to help these people's criminal activities is just so outdated and uncool that it makes them look stupid doing these crimes with the help of bitcoin. Because authorities are getting more familiar with the way it works and some are even memebers of this forum using this site to study more about crypto currencies and get tips.
September 12, 2017, 01:42:51 AM
According to some resources the recent ransomware attackers have already exchanged their Bitcoin for cash, but by first passing their Bitcoins through a mixer which made it tough to know the source. Mixers can largely help in hiding any Bitcoin transactions that too easily. But according to another resource, the use of Bitcoin in illegal activities have reduced to half and people have started using other cryptocurrencies for the same.
what mixers are they using, now that Bitmixer.io is closed?
September 12, 2017, 01:38:16 AM
According to some resources the recent ransomware attackers have already exchanged their Bitcoin for cash, but by first passing their Bitcoins through a mixer which made it tough to know the source. Mixers can largely help in hiding any Bitcoin transactions that too easily. But according to another resource, the use of Bitcoin in illegal activities have reduced to half and people have started using other cryptocurrencies for the same.
September 12, 2017, 01:31:21 AM
A notice to people using Bitcoin for illicit purposes: you can run, but it’s getting a lot harder to hide. Law enforcement officials are using Bitcoin’s public ledger, called the blockchain, to follow the digital money and track down suspected criminals using it.
As the most popular cryptocurrency, Bitcoin has helped fuel the rise of ransomware attacks—extortion schemes, like the recent WannaCry cyberattack, in which hackers hold the contents of a victim’s computer hostage until they get paid. Criminals can use Bitcoin to collect ransoms easily and without having to reveal their identities. The currency has also been associated with online drug sales, money laundering, and sex trafficking.
Read more @ https://www.technologyreview.com/s/608763/criminals-thought-bitcoin-was-the-perfect-hiding-place-they-thought-wrong/
As the most popular cryptocurrency, Bitcoin has helped fuel the rise of ransomware attacks—extortion schemes, like the recent WannaCry cyberattack, in which hackers hold the contents of a victim’s computer hostage until they get paid. Criminals can use Bitcoin to collect ransoms easily and without having to reveal their identities. The currency has also been associated with online drug sales, money laundering, and sex trafficking.
Read more @ https://www.technologyreview.com/s/608763/criminals-thought-bitcoin-was-the-perfect-hiding-place-they-thought-wrong/
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