Topic: Bitcoin Related Crimes Surge - page 2. (Read 746 times)

I read the craziest story earlier this week. Entrepreneurs in Amsterdam are living in dread of criminals who are undermining to cause acts of terror unless they are paid a extortion expense in bitcoin.
As per a Netherlands newspaper NLTimes, messages have been sent to different organizations in Amsterdam requesting bitcoins worth 50,000 euros. Inability to pay, the messages caution, hand explosives will be planted at the business premises or the organizations will go under a hail of slugs compelling conclusion. In the Dutch capital, businesses are required to close down for a timeframe if there should be an occurrence of a shooting or after an explosive has been found.

Something like this was going to happen eventually, criminals are realizing that cryptocurrencies can be used to get away with their crimes and now they are realizing they can steal cryptocurrencies from their owners and very few if any police departments are going to take the victims of the crime seriously and even if they did they do not have the resources to prosecute them.

This is the only downside of crypto currency. It is a little bit anonymous but every transaction is transparent. This makes Bitcoin the favorite medium for payment by criminals. The solution to this is to make local crypto withdrawal services require more ID proofs, and investigate large withdrawal transactions.

Just as long as bitcoin and other cryptos are showing an increase potential in profit, there will be malicious people who'd want to take advantage of other people's money and assets. It's easy money for them.

I dont believe cryptocurrency or bitcoin makes criminal activity increase. Many criminal using US dollar for their criminal activity and i dont think its related to US Dollars. Its about people behaviour and mentallity. I dont believe criminal have relation with bitcoin or cryptocurrency

today, many hackers with crypto specialists, their goal is bitcoin and some top coins like ETH and XRP.

even hacking exchange can make coins fall, like happened in Korea, bitcoin becomes low liquidity, and crypto exchange volume will fall drastically.

saving assets in a hard wallet and not saving assets in a wallet exchange is the best choice.

Your post made me to go and watch "The first purge" again mate, fuck that movie is funny as fuck when
You think about it, that movie also has a new story, something new to look at something from a new angle
To have a night in every year to have the crimes completely legalized, including murder. nffa or new
Founding fathers. Bitcoin is the same in a way, it's a new idea and it has it's ups and downs without
A doubt mate. what people should know is that you should never tell other people if you have any
Bitcoins. when people don't know whether you have Bitcoins or not, they can never hurt you because
They don't know that you have any Bitcoins. all of these crimes happen because people know things
About you and your Bitcoins, they can't normally know if you have Bitcoins by looking at the transactions
In a site or block explorer, how they can find out is by knowing exactly who has those Bitcoins, when I
Think about it I can see that there is an easy way to find out and get this information by having the
Information from an exchange, the only way for others to know if you have Bitcoins is by having your
Information such as identity and related documents from an exchange, that's why you should make sure
Not to trust every exchanging services with your information, they can easily use that information to
Blackmail or hunt you down. how do you know if exchanges are keeping your information safe and are
Not using them to track Bitcoin owners and take their coins from them?

The illegal activities have always happened and the reason is not Bitcoin. My concern is that why do they use Bitcoin if there are more anonymous digital currencies in the market? Maybe the smart ones use them and we just see the new ones. Anyway, Bitcoin's advantage recovers its disadvantages and it is not right to blame Bitcoin on irregular issues.

there was a statistic over the internet.crypto is almost at last of the list.its not about the people dont know crypto.if i do money laundry, i search every option.they do the same and use fiat currency.they think about this who says crypto is for illegality.

Because of their centrality and anonymity, many have relied on it for bad practices such as money laundering, tax evasion, crime. And no one is going to be responsible for these things, which is why governments are worried about Bitcoin exploding.

Well I'm sure some authorities would prefer that criminals use Bitcoin instead. Stats like this suggest that they're getting better at tracking illegal activity on the network, so they probably have a lead on most of these cases.

But yeah it doesn't really matter in the grand scheme of things. This doesn't define Bitcoin, and any reasonable person would acknowledge that.


I've actually heard of exchanges freezing accounts because of shady activity. I can't really verify their legitimacy though. One reason why criminals still use Bitcoin over more anonymous alts is Bitcoin's liquidity. Alts are much harder to get rid off, especially without the help of an exchange.

The most important and paramount thing you need to do in order to protect your financial capital and your life is to talk less to strangers and unfamiliar people about what you do and how much cryptocurrency you have. Believe me, there are keys if you want) You may find it very naive and frivolous this advice, but believe me, this small but very important step will lead you to the safety of your money and health. In other words, keep your mouth shut.

Criminals now sees bitcoin or any altcoin to be a good investment too?   

So we can say they are early adopter criminals . Seeing how much BTC crimes on TV being investigated, I guess they find inspiration of those who got away.
Its money and so criminals can cash out without paper trail, exchanges doesn't care where you got the coins and its easy to carry amounts of cash in the form of BTC.

i don't think we need a "separate law enforcement department" for dealing with cryptocurrency related crimes because these crimes aren't actually a different category of crimes!
for example hacking an exchange is a general crime called "hacking"!
or robbing someone's bitcoins at gunpoint is the general "armed robbery" crime.
so is everything else you can think of.

The anonymity of bitcoin is a part that bad exploits take advantage of, since then unlawful transactions will not disclose owner information.

indeed bitcoin is very useful for its users. but sometimes bitcon is used by some irresponsible people. lazy to work hard. but his dream was to become a millionaire. finally choose a shortcut. which is stealing other people's assets

We all are aware with the decentralised nature of bitcoin and this is very obvious also that there is no one keep eye over all the bitcoin activities as there is no such proper authentic regulating body over bitcoin and this leads to its illegal use as some social defaulters knows this thing very well that bitcoin has no governing authority and thus use in selling drugs, explosives, money laundering etc and these are the illegal activities that are related with bitcoin and in order to stop this bitcoin needs to get legalised all over the world.

Here is what can be done for this :

1) People should be made more aware for using crypto technology carefully and wisely so as to avoid scams.

2) There should be separate laws and departments to deal with crimes related to crypto.

First, Bitcoin is not anonymous, at least not at it was as first appeared.
Second, criminals are also aware that cryptocurrencies are great source of profit and that many Bitcoin holders are new richmen suitable for taking money from them. And sometimes people who use cryptocurrencies think they are more protected in virtual world, which is not true and because lack of cautious become vulnerable.
Third, Bitcoin and other cryptocurrencies are being used for all kind of criminal activities but that is nothing new anymore.

when a currency is being used more by people that means it is being used by all kinds of people and one type is criminals. but don't worry about it because bitcoin can not compete with US dollar in this case because bitcoin is traceable