Btc crime | Bitcointalksearch.org

ChiBitCTy

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Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

Okay and? Brand new account coming here to post about this tends to lead others to believe you’re doing so just to try and spread FUD. The fact of the matter is money is laundered all the time via traditional fiat money, and there’s countless of others ways to do so as well.

goldkingcoiner

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Quote from: un_rank on August 17, 2022, 08:58:11 AM

A criminal using bitcoin as a means of laundering money does not make it a Bitcoin crime. Your title is wrong and misleading.
Criminals have always had means to clean stolen money long before bitcoin was envisioned.

You did not include^[1] an article to the news.

[1] https://news.bitcoin.com/israel-arrests-3-in-crypto-scheme-to-launder-millions-stolen-from-france/

- Jay -

Thank you for your useful contribution. Indeed, using Bitcoin to launder stolen money is not a Bitcoin crime and should not be attributed to Bitcoin. He could have just as well used any other different store of value as a means to an end and would have reached the same result.

We should be careful about putting Bitcoin in a bad light as this will only slow down the rate of Bitcoin adoption and give bankers smiles on their faces.

Mate2237

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Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

How is it happened? was it stolen from the owner's wallets or the fiat money which was stole was converted to cryptocurrency? I have not really gotten your point. Money laundry is has old as human himself. If money can be laundry across boarders then cryptocurrency which also money (internet asset) can also be laundry. There is no big different between fiat and crypto when it come to stealing. But the slide different is. Fiat uses police, army and other security personals to secure the save while crypto uses seed phrase to secure their save (wallet). Fiat pays people to secure the save while crypto did not.

Rigon

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Quote from: budi691 on August 26, 2022, 08:53:04 AM

never stop news about the crime of Bitcoin, and I have heard and read for the umpteenth time, and I say Bitcoin is only used as a tool for money laundering and the same can happen with paper money,
so Bitcoin is not evil evil is people who use bitcoin for money laundering

These bitcoins and things will be used wherever you use them. There are many people who use this bitcoin for good work and there are many people who use this bitcoin for evil work.Those who use this Bitcoin for evil purposes also use their country's money for evil purposes.They use bad things to tarnish the reputation of Bitcoin. It is never right. Every thing should be taken advantage of.We always strive to put Bitcoin to good use and will continue to do so in the future.

budi691

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never stop news about the crime of Bitcoin, and I have heard and read for the umpteenth time, and I say Bitcoin is only used as a tool for money laundering and the same can happen with paper money,
so Bitcoin is not evil evil is people who use bitcoin for money laundering

Kelvinid

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Quote from: MinoRaiola on August 26, 2022, 02:53:10 AM

Wherever there is money, there is also crime. That has always been the case in revolutionary. The greed of the people is the the problem. It drives one to a criminal action. So it's not just Bitcoin, it's everything else: Money, food, business deals, cars, houses, services and everywhere else where you deal with money. So criminal acts with "normal" money will happen much more, as it happens with bitcoin. The reason: bitcoin is used by less than 1% of all people in the world, so it doesn't happen so often.

And whether we like it or not, this kind of criminal act has no ending story but expect a continuous doing as these criminals and those who are about to start had felt no worries at all. This was found to be normal this time and much easier for them due to new technologies surrounding us and sad to say that even the law enforcers are already involved with this. Definitely yes, we can't just blame Bitcoin for this as this kind of activities been already exist before this.

Bitstar_coin

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Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

Through crypto does not exactly specify it is btc, could be other crypto as well, although you did not exactly provide the source link so i would presume btc was the crypto use for the money laundry. Money laundry is a crime that has been around even before the existent of btc and crypto, it is not something that suddenly occur since the emergence of btc.
This is not peculiar to btc or crypto, money launderers can use either fiat or digital currency to carry out their crime, it is a choice they made and not because they are compelled to do so, there are many positive aspect of crypto to embrace, it should not be the negative aspect.

masterrex

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Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

I think it regularly happens anywhere else in the world not just on crypto but also in fiat, so why this is big news when it's not new already, I believe crypto is just a very limited avenue to laundered money because not every country and territory are accepting crypto while on fiat it's widely accepted and available I believe this news was only sensationalized to paint crypto industry, particularly Bitcoin a bad image.

MinoRaiola

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Wherever there is money, there is also crime. That has always been the case in revolutionary. The greed of the people is the the problem. It drives one to a criminal action. So it's not just Bitcoin, it's everything else: Money, food, business deals, cars, houses, services and everywhere else where you deal with money. So criminal acts with "normal" money will happen much more, as it happens with bitcoin. The reason: bitcoin is used by less than 1% of all people in the world, so it doesn't happen so often.

Nrcewker

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Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

Why are you constantly focusing on the negative parts?
I mean each and every coin has two faces. Similarly Bitcoins also. If you can use it for a noble cause, then it’s alright, but when you guys heard about Bitcoins involving in any criminal activity, then you start hating.
Nevertheless it’s great to hear that the criminal got arrested. He just wanted to use his brain and convert all the FIAT to BTC, and wanted to take the advantage of the decentralised nature of the coin.

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Majority of people do not learn how to work earn bitcoin but they work to gain knowledge using it as a means of theft and hacking people, they hack using cryptocurrencies and or bitcoin. Clicking the article link above doesn't narrates they stole through Bitcoin. This funds stole was set for "Grant on businesses affected by Covid-19".
I think more security question is needed when or transacting with bitcoin or crypto's to determined whether it is from the real user or not. Nowadays series of stories showcasing how people kept alarming of theft and hack which most commonly in all nation.

Please OP maybe when posting such information try including the source for individual to read get full expression on the events and how it goes your story doesn't fully explain how it goes if not people sourcing out how it happened.

BobK71

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Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

This is a criminal activity that can be done with any currency or fiat money, not just Bitcoin. This is where criminals can take advantage of using Bitcoin to remain anonymous. So don't look for negative aspects of Bitcoin for a few isolated incidents. Rather, we need to look at the positive things of bitcoin.

Zlantann

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If a criminal uses bitcoin that doesn't mean bitcoin is bad. So many criminals around the world have the fiat currency in doing fraud in so many ways. If bad people use cryptocurrency for their own gain it does not make bitcoin bad. Scammers works with everything for their own gain.

In these few days we have been hearing unfavorable news about Bitcoin activities. There is also a thread that is discussing how a hacker withdrew some amount of money from a bitcoin ATM. Yes these news are not new because we have always heard of fiat crime and ATM hack, but it is not also helping the acceptance of Bitcoin. We must ensure we improve on the security of Bitcoin operations in order to outsmart these bad eggs that are bent on giving Bitcoin a bad name. I want to also state that there is no BTC crime. No crime is tailored to be specifically carried-out using Bitcoin. What we experience are criminals using Bitcoin to carry out their evil plans.

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Of course, crime everywhere will always exist, whether it's on the internet or in the real world, depending on how the person uses it, for example, a corruptor who wants to launder his money to buy some BTC, so as not to smell the crime, and in the end it will be bitcoin that will be considered bad , while bitcoin is used as a digital currency that functions as the currency of the two worlds, so it all comes back to themselves.

GiftedMAN

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Quote from: Beparanf on August 22, 2022, 05:28:12 AM

In my country this kind of news is the reason why Bitcoin has a bad reputation to common people here. They are afraid to invest on Bitcoin because they think it was scam since it was being use by scammer to scam uneducated people to a ponzi scheme.

I may not know the country that you are from but I believe your country has its own currency which is generally accepted as a means of payment of goods and services. The question here is this, have your local currency that is used in your country not been used to commit any financial crime if yes, why is it still accepted by the government of your country hence the educated and uneducated people still uses it for transactions? PS, I think most countries like your own are yet to accept Bitcoin because they are scared since they can't control it and the people involved in it not because people are using it for financial crimes.

Beparanf

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Quote from: |MINER| on August 22, 2022, 02:12:25 AM

Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

I don't really understand that what do you meaning by your title . How it could be called Bitcoin Crime? The crime was committed by those three people, those who stole money from France. The crime word should be attached to their name, not to the name of Bitcoin. And everything has both good and bad sides. The real issue is where and how we are using it. There is no point in blaming that thing for our mistakes.

I think he just want to emphasize crime that involves Bitcoin which newbie user usually overreacting when they heard this kind of news as if fiat money is not use on this kind of illegal transaction. Anti Bitcoin people usually focus on the negative side of Bitcoin use compared to the benefits of Blockchain technology in different financial aspect.

In my country this kind of news is the reason why Bitcoin has a bad reputation to common people here. They are afraid to invest on Bitcoin because they think it was scam since it was being use by scammer to scam uneducated people to a ponzi scheme.

Jody.Drummer

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Quote from: |MINER| on August 22, 2022, 02:12:25 AM

Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

I don't really understand that what do you meaning by your title . How it could be called Bitcoin Crime? The crime was committed by those three people, those who stole money from France. The crime word should be attached to their name, not to the name of Bitcoin. And everything has both good and bad sides. The real issue is where and how we are using it. There is no point in blaming that thing for our mistakes.

Indeed, in this case, we shouldn't really make it sound as if it's caused by bitcoins because they are objects if we look at the case as a whole.
There are already suspects and the case has also been explained which is fraud, but when dealing with Crypto, especially bitcoin, it is clear that only bitcoin will be highlighted which is considered a fraud even though it is clear that someone is cheating but the object is bitcoin.
It's not wrong with bitcoin if it's talking about right and wrong because it is only a handful of irresponsible people who do this.

|MINER|

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Quote from: Vickky Rae on August 17, 2022, 08:46:21 AM

Recently 3 suspects were arrested by Israel police for laundering money internationally through crypto. This money was stolen from France. This is a major international money-laundry.

I don't really understand that what do you meaning by your title . How it could be called Bitcoin Crime? The crime was committed by those three people, those who stole money from France. The crime word should be attached to their name, not to the name of Bitcoin. And everything has both good and bad sides. The real issue is where and how we are using it. There is no point in blaming that thing for our mistakes.

KennyR

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Everything have got its positive as well as the negative part. We can't expect everyone to use only the positive part of bitcoin. Whenever someone involves in such kind of activities, the same is being discussed big. This is just the media, and they do just as a part of their work. There are group of people who work to make this as a big issue, finding flaws with cryptocurrency. So, good is to avoid such news and have our own belief.

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Quote from: xSkylarx on August 21, 2022, 07:35:19 AM

Quote from: Yamifoud on August 19, 2022, 05:35:47 PM

But what does OP mean by blaming the crypto for this, I believe it was not right. This argument gives an idea to the people to also think evil things like this knowing that it was easy for them to hide from the authorities.

News agencies also make it worse when they highlight these type of news making people think that bitcoin is only used by criminals. These criminals that involves bitcoin on their illegal activities are not completely anonymous because they will still convert it to fiat in order to spend it, if they do that then authorities can track and capture them. People are not aware that money laundering can be done using many mediums not just money. There are some criminals that use painting exhibits or anything that is expensive to execute those activities.

Unfortunately, that is how the media works especially if they hear something that could interest their viewers. They may have not spread false information rather they exaggerate or provide inadequate information to the public.

Indeed, in this scenario, it is wrong to blame crypto on such a case especially money laundering. Just as you've said, there are various ways for a criminal to launder money such as valuable assets like Arts, Painting, NFTs, and even through stocks or investments.

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