Topic: Bitcoin Still The Favorite Of The Crime (Read 204 times)

Bitcoin is still the favorite currency of choice by criminals because it is still unregulated. Lack of government regulations is also one of the reasons why a lot of people don’t want to invest in cryptocurrency. Bitcoin will not become mainstream without government recognition.

Its because the majority of the people are using bitcoins specialy those in the ICO they are the once who always using and holdinh a huge amounts of bitcoins that came from the participants of that ICO.

I dont know what you really meant to say here because bitcoin is currency meaning a money in virtual form,criminals will use anything just to favor their transactions so why pinpointing bitcoin when all currencies can be used .

If you will prevent your self from entering sites thats not necessary,then you can lessen the risk of being victimized of phishing sites

So not necessarily Bitcoin specifically, but rather cryptocurrencies as a whole? Bitcoin is the most popular so it wouldn't surprise me if it was targeted more often, but I imagine cyber criminals don't have much of a preference when it comes to stealing stuff. Bitcoins are just more widely available and is an actual household name so there are more opportunities in it for them.

But yeah, I'd even go a step further to say they don't have much of a preference at all for what they steal, it just so happens that there are a lot of opportunities for them within the crypto space at the moment.

Bitcoin is prone to criminals, because of it being centralized, means that it cannot be controlled or manipulated by someone and it can be used anonymously. And some bitcoin wallets are not safe, because it can be hacked by some hackers. We do have different thinking and decisioning, so it depends on you if you will used bitcoin in good things or in bad things. But the consequences is depends on what would you do.

Bitcoin is often placed in wallets now since it available by a majority of the people who participate in the holding or investment in the cryptocurrency market, it is the one with the most information available, phishing scams for obtaining your bitcoin address are much in number and variable so access to criminals is a lot

The rise in computer-related crime caused by the increase in Bitcoin price and trading platforms without an increase in spending on the protection of those platforms.
Also, we can not neglect some effects such as:

 Many people do not have technical experience, so many beginners find their keys to unknown people.
 Manipulation of the price: Some whales spread terror to buy Bitcoin cheaply as news about hacking or bitcoin banning.

Its just another problems with annonymity in online world which make bitcoin primadona in crime world, there will always be two side of coins and this is just another normal occurences. Its not bitcoin that actually bad for the world but the people with negative mindset that makes bitcoin got negative side for publication. Either way this was still a good advertisement for bitcoin. 

Either way, Bitcoin has got nothing to do with crime. Even laundering money through Bitcoin is getting harder, given how bitcoin exchanges take your personal information before trading it for fiat currency.

The silkroad bust proves that criminals can be easily tracked via bitcoin transactions, so in some cases the opposite may be true!

I think that btc is the leader now and it will remain like this for long, to my mind it is natural that it will be the best one among other coins which is obvious for many experts today and other ordinary people

The increase in bitcoin price does not mean increase in crime because most people and organizations are also using bitcoin for legal transactions. Let me summarize my answer buy asking you a simple question, does the increase in the supply of guns and military weapons implies the increase in robbery, violence e.t.c ? the answer is No.

Because criminals have taken advantage of Bitcoin's anonymity to launder money. Making the wrong currency becomes legal

That is why the need to support every regulation relating to Crypto currency investment is a must so that these bad people will not to easily to use Bitcoin in their illegal activities and that is why some countries will not allow Bitcoin to exist in their place to ensure that these illegal will be prevented. Sometimes i wonder that Bitcoin reached the ATH before because of  these illegal investors that due to regulation they will reduced but affecting the Bitcoin demand to reduced too.

bitcoin is money, and newsflash, people steal money from other people but that doesn't make that money's main usage for crime! it is like saying US dollar is only used by terrorists be cause it is the biggest usage of USD in the world!


and what happened next? nothing. this was months ago and it was only online drama about bitcoin during its downtrend. now that we are on a uptrend it is long forgotten. and there was no valuable result from this "investigation" of theirs.

Well ... I do not think so. I think that smarter criminals use other crypto-currencies. For example, a monero, she is at times more anonymous than bitcoin. So I do not think that bitcoin is a good way for anonymous money transfers. If certain interested people want to track you through bitcoin, it will not cause any problems.

bitcoin is still a favorite for criminals because we know if bitcoin today is still a fund-raiser for crime. but for now it is already restricted and the government is pushing to tighten bitcoin rates as a fund-raiser for criminals because it is detrimental and does not have a good impact on bitcoin development.

For those who invest Bitcoin should be vigilant. One of the most popular digital currencies in the world, it is still a prima donna perpetrators of cyber crime around the world.

Anti-Phishing Working Group (APWG), an international set of companies to counter phishing attacks, reported that there had been a $ 1.2 billion (Rp 16.9 trillion) worth of cryptocurrency theft last year.

The rising popularity of Bitcoin and accompanied by the circulation of more than 1,500 other digital currencies triggered the high crime in the sector that has not yet had the regulation.
Dave Jevans, Chairman of the APWG, said that of the total nominal is only 20% or it could be lower that successfully handled by law enforcement around the world. According to him, the incision could be worse as a result of the EU decision to start running General Data Protection Regulation (GDPR).
"GDPR will adversely affect Internet security as a whole and at the same time assist cybercriminals By tightening access to information, the new law will prevent investigations of cyber crime, theft of cryptocurrency, phishing, ransomware, malware, fraud and cryptojacking, "he said.

GDPR itself is a rule to simplify and consolidate regulations that companies must follow to keep their data protected as well as to exercise control over personal information belonging to people in the EU region. Implementation of GDPR means that the majority of European data domains will not be published publicly after May 25th.

According to Jevans, the data is a key source of information for investigators and law enforcement agencies to anticipate theft, especially in the online world. Data such as names, addresses, and emails are themselves stored in a database called WHOIS.

"So, we'll see all the bad guys go to Europe because they can access the whole world from there and there's no way to get information about them," Jevans said, as quoted by Reuters on Sunday (5/27/2018).

Not only the theft, the name Bitcoin was dragged in a case under investigation by the United States Department of Justice. Investigations are being conducted by the government agency on the alleged players in the world of digital currencies to manipulate the value of Bitcoin and other cryptocurrencies.
The investigation will investigate the truth of the practice that may affect the price of digital currencies such as the manipulation of orders in the market in large quantities, thus attracting people to transact on related platforms.

Others in the US, another in South Africa. Authorities in the country that had organized the World Cup in 2010 is investigating a scam that deceives investors with a total value of up to USD 80 million. The lure of big profits into the mode used by the swindlers.

The investigation led to a company called BTC Global, which promises its clients to get 2% profit every day, 14% every week, and 50% every month. Service from the company was rumored to have been blocked.