Topic: French police arrest terror financing ring that used Bitcoin coupons (Read 441 times)
October 07, 2020, 10:07:06 AM
It's time for the police to create a new department to fight crypto scammers.
October 08, 2020, 04:57:09 PM
It’s good news that they were caught, but I hate seeing news like this that has something to do with Bitcoin. Maybe some people will not understand it, but this is a very bad news for Bitcoin. If there continues to be news like this, the government might be prompted to start declaring Bitcoin illegal and you know what that means for cryptocurrency market.
Bitcoin is a good technology, but some people are hell-bent on destroying everything by misusing it for the wrong purposes. I’m always happy when these evil people are caught by the government and punished for their crimes, but at the same time I am sad that they are using Bitcoin for all these crimes.
Bitcoin is a good technology, but some people are hell-bent on destroying everything by misusing it for the wrong purposes. I’m always happy when these evil people are caught by the government and punished for their crimes, but at the same time I am sad that they are using Bitcoin for all these crimes.
I'm with the stance that it doesn't have anything to do with Bitcoin. It just so happens that the terrorist group used Bitcoin like any other currency. Its like saying that terrorism is everything to do with guns, when its not. There's perfectly valid reasons to own a gun, although I tend to side against guns in the majority of circumstances coming from the UK, and seeing the issues that they cause, but I acknowledge the right for those in America to own a gun, but just because terrorists use guns, doesn't mean its to do with guns, and the same for Bitcoin. There's probably a better comparison out there to be made, but I don't see why Bitcoin is pinpointed here, when the real news headline is that terrorism still exists in 2020.
October 07, 2020, 08:16:35 AM
These kinds of news are often reported in the news of major media outlets which make people think that bitcoin is only used for illegal purposes and a dangerous thing. If terrorist financing was provided by the euro, would we stop using the euro?
October 06, 2020, 07:52:37 AM
Whenever I hear this kind of news, people reaction is "OMG... they've used Bitcoin to keep their transaction underground, BTC is bad 'cause it facilitates terrorism, etc." and my answer will always be "What do you think CASH is used for? If I remember good there was a study done which said that the ratio of cash used in illegal transactions vs btc is like 99% to 1%.
Bad actors will always find a way to sneak through. Our aim should be to eliminate that human behaviour, not the tools.
Bad actors will always find a way to sneak through. Our aim should be to eliminate that human behaviour, not the tools.
October 06, 2020, 07:43:04 AM
Should have bought a digital gift card from Bitrefill - paid in lightning. You don't need an ID to open an account. Massive loophole in the system right now. Good luck tracking lightning, especially after conjoining the UTXO. Law enforcement agencies are going to struggle hard as privacy tech improves - they should just give up, but they won't.
October 06, 2020, 07:03:16 AM
Regarding the coupons, I don't think it's good to encourage people to use physical bitcoin-like money as a substitute for digital bitcoin. Because bitcoin was never designed to be used physically in the first place. We shouldn't try to backport bitcoin's functionality to physical usage because it doesn't make sense to do so, these "crypto coupons" are cumbersome and hard to redeem.
In an era when everyone is transitioning from cash payments to credit cards (despite all the risks of using banks that have been outlined in several threads here), we should be trying to get all adopters to use electronic devices to store and send their bitcoin.
China has already achieved fully digital payments so it's not like it's impossible.
In an era when everyone is transitioning from cash payments to credit cards (despite all the risks of using banks that have been outlined in several threads here), we should be trying to get all adopters to use electronic devices to store and send their bitcoin.
China has already achieved fully digital payments so it's not like it's impossible.
October 06, 2020, 05:23:42 AM
It’s good news that they were caught, but I hate seeing news like this that has something to do with Bitcoin. Maybe some people will not understand it, but this is a very bad news for Bitcoin. If there continues to be news like this, the government might be prompted to start declaring Bitcoin illegal and you know what that means for cryptocurrency market.
Bitcoin is a good technology, but some people are hell-bent on destroying everything by misusing it for the wrong purposes. I’m always happy when these evil people are caught by the government and punished for their crimes, but at the same time I am sad that they are using Bitcoin for all these crimes.
Bitcoin is a good technology, but some people are hell-bent on destroying everything by misusing it for the wrong purposes. I’m always happy when these evil people are caught by the government and punished for their crimes, but at the same time I am sad that they are using Bitcoin for all these crimes.
October 05, 2020, 06:21:58 PM
This ways or acts from certain groups of people make a big negative impact concerning the impression and popularity they gave towards Bitcoin usage which makes people as well as the government think that it must not be legalized for the fact that it can be used as a tool for fraudulent act and terrorism. Yes it is kinda true but Bitcoin was just a currency and to begin with, it must not be blamed for all those activities because people are the ones abusing the usage of it into negative activities that on the first place usage of Bitcoin is intended for good use because of its decentralization and giving people possibilities and opportunities to gain a handy amount of money from it. It is just so bad that those kind of people is making a stain on Bitcoin's reputation for doing such activities and making use of Bitcoin to make their transactions possible to be conducted.
October 05, 2020, 11:19:45 AM
yes I totally agree with you bitmover, Bitcoin is a currency, many people use it in the wrong way so as to damage the image of Bitcoin in society,
Bitcoin problem for what?
if bitcoin is used for charity, people will think good, but if Bitcoin is used for evil they will think Bitcoin is bad,
it all depends on what people use it for, bitcoin is just a digital currency so it depends on what it is used for, not the wrong bitcoin but the wrong person using it.
Bitcoin problem for what?
if bitcoin is used for charity, people will think good, but if Bitcoin is used for evil they will think Bitcoin is bad,
it all depends on what people use it for, bitcoin is just a digital currency so it depends on what it is used for, not the wrong bitcoin but the wrong person using it.
October 04, 2020, 09:20:27 AM
Crypto is a tool that anyone can use. Therefore, another news denigrating crypto. In this case, this is bad for the industry.
We're not afraid of their bad named called because no currency under the watch of the World Bank that's not been used for dubious illicit transactions online. Though them be caught in this action makes it clear that, the hidden transactions we all thought before now aren't hidden anymore. Bitcoin still the very best online currency that has the solution to world financial problems, in respective of the bad guys usage bitcoin is the true money. 
October 04, 2020, 07:35:39 AM
Damn,I never knew that Bitcoin "coupons" are being sold in tobacco outlets in France.
Perhaps Bitcoin gift cards/coupons will be an easy way to introduce BTC to more non-tech savvy people and help for further adoption of Bitcoin.Unfortunately,Bitcoin can be used for evil deeds,not only for good deeds.
By the way,good job done by the French police.
Perhaps Bitcoin gift cards/coupons will be an easy way to introduce BTC to more non-tech savvy people and help for further adoption of Bitcoin.Unfortunately,Bitcoin can be used for evil deeds,not only for good deeds.
By the way,good job done by the French police.
October 03, 2020, 06:02:28 PM
Bitcoin is a currency.
Any currency can be used for evil means.
Dont terrorists and drug dealers use USD as well?
Bitcoin is just a currency.
Any currency can be used for evil means.
Dont terrorists and drug dealers use USD as well?
Bitcoin is just a currency.
Exactly. Just like any object can be used as a murder weapon. Criminals will use everything at their disposal. Terrorists using tabacco shops to fund whatever they doing sounds hilerous and strange to me at the same time.
I do believe these kind of people don't understand a simple thing " Bitcoins was made for the people so that they can finally get away from the oppression of big companies and the government itself, thud if they do any harm to the image of bitcoins , they are not gaining profit in any way , nor they are causing problems for anyone , but for them "
These kind of people cannot even appreciate an invention that was made for the people to gain some power. Especially associating bitcoins with terrorism is beyond irreparable.
This is why government wants everyone to do KYC and such even for the most private wallets !
These kind of people cannot even appreciate an invention that was made for the people to gain some power. Especially associating bitcoins with terrorism is beyond irreparable.
This is why government wants everyone to do KYC and such even for the most private wallets !
Goverment wants you to pass KYC? For what? Which goverment? Maybe insane ones. Good luck with that.
October 02, 2020, 11:33:44 AM
Bitcoin is a currency.
Any currency can be used for evil means.
Dont terrorists and drug dealers use USD as well?
Bitcoin is just a currency.
Any currency can be used for evil means.
Dont terrorists and drug dealers use USD as well?
Bitcoin is just a currency.
You're right but as we all know its illegal use bitcoin in some areas.
There are many advantages of bitcoin but there are some disadvantages too, Bitcoin can be used anonymous worldwide without knowing anyone.
You can not reach that person who receives or send the bitcoins.
That's the reason the police can never approach you. The use of bitcoin can make you more secure from anyone who wants to trace you. They can be caught if they use USD instead of bitcoin
October 02, 2020, 05:37:13 AM
As most of the users mentioned Bitcoin is just a currency. A coin has got two sides, same is with bitcoin and other things that having value. It is up to the user making use of it. In this news the terrorism supporters have used bitcoin as a source. Same as this USD too is used in large scale in the global market on illegal needs. The media is the one that always tries to indicate bitcoin and cryptocurrencies as wrong instead of indicating the person involved in it.
October 02, 2020, 05:20:39 AM
This happens usually in everyday because of its hidden engagements. The reasons for using bitcoin here is hidden transfer. I saw last week Twitter hacking using bitcoin payments. So now it is easy to collect for hidden transfer by using bitcoin payments system.
and this is why the reputation of Bitcoin becomes worst because of stupid people that dealing with it without a formal knowledge.they do transacting while know nothing about cryptocurrencies and after being victimized they will blame Bitcoin.
this must be stopped either the scammers and also the noob victim.
they must learn first before using this or else this will happen everytime.
even those people that knows bitcoin sometimes can be lured by scammers what more the noobs.
October 02, 2020, 03:32:06 AM
I have only said that banking channel is highly monitored so a criminal will have to make good connections with the banking people and bribe money to continue their shady dealings through banking channel. That's where crypto came in and took away the risk!
That's exactly what's happening, and big banks get exposed for that, but with very little actual consequence. And Bitcoin might be useful for small criminals, but it's actually hard to move large amounts of money undetected, because Bitcoin itself is not that big, so some sudden spikes in transaction amounts would attract interest of chain analysis. So, banks are still the choice of big criminals like drug cartels, mafia, corrupt politicians, dictators, etc.
October 02, 2020, 02:55:46 AM
Its good to know that criminals cannot longer operate their work under the anonymity of Bitcoin, surely this is enough proof for regulators that Bitcoin can be regulated and not full proof for money laundering, and criminal activities thanks to the Blockchain, you can look up any public addresses that process transactions, and vast technology to trace that specific user.
Look up public address and trace that user? Yes, you can use the blockchain to to look up a transaction, but you won't be able to trace that user with just the public address since bitcoin is pseudonymous. If someone can somehow associate the address with a person (like maybe he completed a kyc form on one of his exchange account and used this address to withdraw), it is then he can be identified. I'm not saying that the media is wrong but if you look at the facts as presented you'd at least wonder how 10-15 euros going to support such a large network. Even if they do it everyday, surely that's not enough 
Its 10 to 150 EURO. Not 15 EUR. And they are like 29 of the people buying it everyday. So yeah, they do rack up enough funds within a month. October 02, 2020, 02:15:21 AM
I am ever the optimist ..... I am not focused on the fact that they used Bitcoin for their criminal operation, but rather that they were caught doing this. Let's say they smuggled in some Gold or Diamonds and they sold that to finance their operation... then this would not even reach the mainstream media... but now that Crypto currencies were used... the media is all over it. 
It just shows you... if you want to hit someone ... you will always find a stick and a reason to do it.. right.
The centralization of Crypto currency trades ...will offer opportunities for law enforcement to catch these terrorists. 
It just shows you... if you want to hit someone ... you will always find a stick and a reason to do it.. right.
The centralization of Crypto currency trades ...will offer opportunities for law enforcement to catch these terrorists. October 02, 2020, 02:03:10 AM
They have thoght they'll never get caught.
Even they used such bitcoin coupons for their evil purposes, authorities will gonna find them for sure. It was such a disappointment that those tobacco companies that was firstly adopted blockchain and cryptocurrency coupons and payments were just adopted it for the main purpose of supporting the terrorists.
Sad that those were just using bitcoin for evil acts and not for the main purpose of using it as a new technology and new form of payments for the development of systems.
Even they used such bitcoin coupons for their evil purposes, authorities will gonna find them for sure. It was such a disappointment that those tobacco companies that was firstly adopted blockchain and cryptocurrency coupons and payments were just adopted it for the main purpose of supporting the terrorists.
Sad that those were just using bitcoin for evil acts and not for the main purpose of using it as a new technology and new form of payments for the development of systems.
October 01, 2020, 07:49:50 PM
Like many terrorists who don't know about Bitcoin and don't understand Bitcoin, they thought using Bitcoin would be safe
and impossible to trace. Even though in fact Bitcoin is easier to trace, because transactions using Bitcoin are very transparent,
that's why corrupt governments do not accept Bitcoin. So when reading an article about the French police catching terrorists
funding networks using Bitcoin, makes me even more sure Bitcoin is easy to trace.
and impossible to trace. Even though in fact Bitcoin is easier to trace, because transactions using Bitcoin are very transparent,
that's why corrupt governments do not accept Bitcoin. So when reading an article about the French police catching terrorists
funding networks using Bitcoin, makes me even more sure Bitcoin is easy to trace.
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