Topic: 4 Bitcoin Traders Arrested Due To Illegal Trading - page 2. (Read 619 times)

The problem with the news website or any country's website is that it will always speak in favour of the government of that country. As Bitcoin is banned in Bangladesh, they have put the whole case as if they are doing illegal activities as they are trading bitcoin. I personally think this became this big of a news also only because bitcoin was involved otherwise such small level money laundering generally go unnoticed.

By looking at what they arrested them with. You would strongly believe that they are into internet fraud. They brought the arrest up themselves. They are aware that bitcoin is illegal in their country and they went ahead to be using bitcoin which is prohibited. They just think that by using bitcoin they can't be traced. Anyway, Internet fraudsters are very fond of asking their client to pay in their bitcoin address

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.

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

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.

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.

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.
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.

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.

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.

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.

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.

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.

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.

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

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.

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

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!

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.

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.

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.

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!


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!

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.


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.


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.