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.
Topic: 4 Bitcoin Traders Arrested Due To Illegal Trading - page 3. (Read 694 times)
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.
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.
If we are talking about Bangladesh here there are many things to say like Bangladesh Bitcoin is not completely illegal it is kept at a neutral level now there are some people who think that dollar transaction is money laundering, I can see this in front of them keyboard mice there are many things in fact they are not criminals only if they have it. It has been seen many times in the past that people who used to sell dollars by p2p method have been caught by the police many times and objections have been raised against them that they are doing money laundering however the current situation seems to be Blockchain will be implemented in Bangladesh very soon let's see what happens.
https://i.postimg.cc/jSsLSQM4/Screenshot-2022-09-07-181438.png
The news 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. 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. Finally, they convert that cash into bitcoin again through the p2p method. So Bitocin is illegal, which means they did not pay taxes because of the p2p method, and RAB suspects they are involved in money laundering. So that's the overall news.
Now my closing statement on this matter is that no doubt this arrest is a good job because these guys are scamming people and laundering money, but in this case, the news portal highlights bitcoin that it is illegally traded. What I do think is good. Because they choose illegal paths like dating websites and money laundering, but you can't use balmebitcoin for this. That's my opinion. What do you think about this news? Please share it with us. Thank you.
News source.
The news 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. 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. Finally, they convert that cash into bitcoin again through the p2p method. So Bitocin is illegal, which means they did not pay taxes because of the p2p method, and RAB suspects they are involved in money laundering. So that's the overall news.
Now my closing statement on this matter is that no doubt this arrest is a good job because these guys are scamming people and laundering money, but in this case, the news portal highlights bitcoin that it is illegally traded. What I do think is good. Because they choose illegal paths like dating websites and money laundering, but you can't use balmebitcoin for this. That's my opinion. What do you think about this news? Please share it with us. Thank you.
News source.
This should be a good thing I guess. Lots of people just involve themselves in shady acts and find a way to bring Bitcoin into it thereby making Bitcoin in itself feel like a fraudulent activity.
They are been arrested due to money laundering and scamming issue and not for illegal trading since I think if I'm not wrong there's no really illegal trading we call if we do it on legitimate exchange by ourselves only. They provably use that as a reason to convince people that they are profitable and they can get percentage if they invest on their trades. We see this already happen everywhere so this kind of crime is not surprising and good job for authorities to sue this people since this is good example for criminals to stop what illegal things they do.
You are right and I believe the other offenses would have actually been the cause of their arrest. OP said, Quote
though bitcoin is illegal in Bangladesh
for the RAB-5 (Rapid Action Battalion) to also confirm that they were into Bitcoin trading which I believe he is referring to as "illegal" could have made the news more attractive. However, we understand that with Bitcoin involved it would most likely be the one that would be blown out of proportion. 
That was the case when trying to fraud others. Many people are taking advantage and they believe that they can hide from the authorities by running illegal transactions, yet they have no escape at all.
Maybe they are not totally smart or just beginners which is why they easily got caught. But it was very fortunate that they got traced by the authorities and stopped their illegal operation and no more victims. I really appreciate how these cops are doing and I hope this will serve as a mirror that nobody could really just live doing this (as a scammer) forever, they will still be caught someday.
Maybe they are not totally smart or just beginners which is why they easily got caught. But it was very fortunate that they got traced by the authorities and stopped their illegal operation and no more victims. I really appreciate how these cops are doing and I hope this will serve as a mirror that nobody could really just live doing this (as a scammer) forever, they will still be caught someday.
Trading cryptocurrencies including bitcoin is indeed prohibited in Bangladesh, but the focus of this case is the practice of money laundering that uses bitcoin as a bridge. Cryptocurrencies have been declared illegal let alone use for money laundering, then the perpetrators will be charged with multiple articles.
When a country has raised a flag that prohibits the use of cryptocurrencies, there is no loophole to use it, it is better to obey it and live in peace.
The regulations provided by Bangladesh and other countries that are against bitcoin or crypto will not forever ban them, they just are not aware of the importance of implementing cryptocurrency even though it is only limited to commodity regulations.
When a country has raised a flag that prohibits the use of cryptocurrencies, there is no loophole to use it, it is better to obey it and live in peace.
The regulations provided by Bangladesh and other countries that are against bitcoin or crypto will not forever ban them, they just are not aware of the importance of implementing cryptocurrency even though it is only limited to commodity regulations.
@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. This gives more privacy and such peeps turn into their so called action Center to do all the illegal stuff. Usually they are always photographed with whatever things collected from the criminal spot. But yeah it looks funny.
I think they were using dating sites to collect the payment in the form of bitcoin or it’s even possible they were only distributing the money by sending to that site. So turning it into Money laundering process eventually. Anyways, news should have shaded more light to see whether it was serious matter or just some another funny scam.
I think they were using dating sites to collect the payment in the form of bitcoin or it’s even possible they were only distributing the money by sending to that site. So turning it into Money laundering process eventually. Anyways, news should have shaded more light to see whether it was serious matter or just some another funny scam.
Newspaper or the whole media world will go with the title which is more attractive so they will get more readers and engagement respectively but in the article if they mentioned the actual reason for this arrest is kind of shady activities involved not only for doing trading with cryptocurrencies.
Exactly. Just by doing btc trading, it's hard for the authorities to detect bitcoin trading unless these people were caught for something shady other than bitcoin illegal trading.
I also think these people were a part of the same group, and 1 of them getting caught lead to the arrest of all 4 of them.
The news 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. 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. Finally, they convert that cash into bitcoin again through the p2p method. So Bitocin is illegal, which means they did not pay taxes because of the p2p method, and RAB suspects they are involved in money laundering. So that's the overall news.
Now my closing statement on this matter is that no doubt this arrest is a good job because these guys are scamming people and laundering money, but in this case, the news portal highlights bitcoin that it is illegally traded. What I do think is good. Because they choose illegal paths like dating websites and money laundering, but you can't use balmebitcoin for this. That's my opinion. What do you think about this news? Please share it with us. Thank you.
News source.
Now my closing statement on this matter is that no doubt this arrest is a good job because these guys are scamming people and laundering money, but in this case, the news portal highlights bitcoin that it is illegally traded. What I do think is good. Because they choose illegal paths like dating websites and money laundering, but you can't use balmebitcoin for this. That's my opinion. What do you think about this news? Please share it with us. Thank you.
News source.
Had they been more careful with their opsec then they never would have gotten found out. Lazy, sloppy security is what got them caught, in the end. So I am guessing they are complete amateurs and by their clothes they are obviously not rich. Whatever money they were trading was probably small amounts. Nonetheless they got caught because their oppressive anticoiner government wanted to make an example out of someone in order to spook the rest of the population away from Bitcoin (and cryptocurrency in general).
Its too bad. But it just goes to show why we need Bitcoin. Its regular people who get made an example of, its regular people who lose their money and its regular people who have to suffer financial slavery.
Bitcoin is financial freedom. Thats why I hope this story will create more coiners in Bangladesh.
Ok, forget bitcoin and other things there is one more important issue here..
Am I seeing this right, on the right side there are a bunch of phones and on the left side of the picture, are those mice and a keyboard? They actually had nothing to pull on that table and said let's dump a few more pieces of "evidence" of the crime? Cables and keyboards?
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.
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.Am I seeing this right, on the right side there are a bunch of phones and on the left side of the picture, are those mice and a keyboard? They actually had nothing to pull on that table and said let's dump a few more pieces of "evidence" of the crime? Cables and keyboards?
Quote
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.
These guys were doing this in a country which completely banned the use of bitcoin a couple of months ago from what I recall reading about Indian banks (Bangledesh specfically) for anyone doing these kind of transactions to and from their bank accounts.
Well the thing is, it's already illegal yet they risked by engaging on it and they should know the consequences through it. I think money laundering was the main case here and the Bitcoin p2p was just the thing they use. Those who know what Bitcoin is knows well that it was just used as an instrument but for some people that still lacking that knowledge might attribute Bitcoin as scam and that saddens me tbh.
they probably thought they'll never get caught which is true some time for small and individual traders. thousands of people in bangladesh are trading bitcoin without any issue. but these are not normal traders they are a Gang of traders and probably also involved in money laundering.
This people were doing money laundering and scamming people so they are arrested but we can not blame bitcoin for this arrest...If any country banned bitcoin then it is illegal but in some countries Bitcoin exchange is legal
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.
I think that was the main problem about this case, they got arrested because of scamming, not trading Bitcoin in illegal country. The subject of this thread should be "4 scammers on dating apps using Bitcoin got arrested"Though it seems like a bad news to Bitcoin, but if we look on the bright side, Bitcoin actually help the police or blockchain analysis to find those scammers. If they're use Monero and trade it on decentralized exchanges, they would be safe
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. 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. Finally, they convert that cash into bitcoin again through the p2p method. So Bitocin is illegal, which means they did not pay taxes because of the p2p method, and RAB suspects they are involved in money laundering.
News can be true or over exaggerated, we don't know.Trading when Bitcoin trading is illegal is bad already. Using Peer to Peer trading method on a good platform is a good choice but if you do this, trade with old and trusted (high reputation point) trade partners. Trade with them, you are safer because their money are more likely from clean resources, not from money laundering resources.
If you intentionally do money laundering, you know of the potential ending. Worse you also bring troubles to your trade partners.
With Peer to Peer trades, follow two rules
- Don't trade with newbies
- Choose old and trusted trade partners (with good trading volume in the past, good account age, high reputation point, good feedback from past trade partners)
Newspaper or the whole media world will go with the title which is more attractive so they will get more readers and engagement respectively but in the article if they mentioned the actual reason for this arrest is kind of shady activities involved not only for doing trading with cryptocurrencies.
bitcoin is a means of payment including money as a means of payment, but if we see people using something illegal by using fiat money payments will people blame fiat money? they don't seem to be blaming fiat money, well it's the same with bitcoin if something happens that's illegal to use bitcoin it's not because bitcoin is to blame but goes back to the people who use it
Ok, forget bitcoin and other things there is one more important issue here..
Am I seeing this right, on the right side there are a bunch of phones and on the left side of the picture, are those mice and a keyboard? They actually had nothing to pull on that table and said let's dump a few more pieces of "evidence" of the crime? Cables and keyboards?
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.
Am I seeing this right, on the right side there are a bunch of phones and on the left side of the picture, are those mice and a keyboard? They actually had nothing to pull on that table and said let's dump a few more pieces of "evidence" of the crime? Cables and keyboards?
Quote
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.
Well the thing is, it's already illegal yet they risked by engaging on it and they should know the consequences through it. I think money laundering was the main case here and the Bitcoin p2p was just the thing they use. Those who know what Bitcoin is knows well that it was just used as an instrument but for some people that still lacking that knowledge might attribute Bitcoin as scam and that saddens me tbh.
They are been arrested due to money laundering and scamming issue and not for illegal trading since I think if I'm not wrong there's no really illegal trading we call if we do it on legitimate exchange by ourselves only. They provably use that as a reason to convince people that they are profitable and they can get percentage if they invest on their trades. We see this already happen everywhere so this kind of crime is not surprising and good job for authorities to sue this people since this is good example for criminals to stop what illegal things they do.
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