Topic: French police arrest terror financing ring that used Bitcoin coupons - page 2. (Read 441 times)
October 01, 2020, 07:49:15 PM
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.
October 01, 2020, 07:15:49 PM
The 29 members of the network were busted after being caught purchasing cryptocurrency coupons worth between 10 and 150 euros each ($12–$176) on multiple occasions in recent months from tobacco outlets across France.
These words are strange, it implies that the entire network were busted because they were found purchasing BTCitcoin coupons worth 10 to 150 Euros.I am not following the case but these are just made up words just to add BTCitcoin and nothing else. What are the chances of an investigation taking place when people are purchasing coupons worth 10 to 150 Euros, does that imply that the entire BTCitcoin sales are closely monitored by the authorities and cross checking every sales:
. October 01, 2020, 03:23:41 PM
It's not new at all, we have already heard or read news about some terrorist groups that are also using crypto for transactions. This kind of news may bring a bad image to crypto and misconception to others but it's not really crypto, it's the people who used them for wrongful activities. Regardless of what kind of currency, these terrorists will always find ways to do what they want, the only good thing about this news is that the police authorities were able to catch them.
October 01, 2020, 01:59:59 PM
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.
What hidden transfers? These days you have to buy coins somewhere. If you buy on an exchange you will not hide anything.
It was pretty easy to do (and still is) for old holders, people who mined their coins or got them before AML laws came into place. They still own coins that are not in any way connected with their real life identities.
October 01, 2020, 01:11:38 PM
is just a currency.
There is some truth in what you said.
But banks are highly corrupted and there are billions flowing to shady businesses
Look at the recent European banks scandal
https://www.reuters.com/article/us-europe-moneylaundering-explainer-idUSKCN1RG1XI
There is some truth in what you said.
But banks are highly corrupted and there are billions flowing to shady businesses
Look at the recent European banks scandal
https://www.reuters.com/article/us-europe-moneylaundering-explainer-idUSKCN1RG1XI
Who says banking channel is fair in the dealings!! Even they are super shady in many cases. We have seen many example of such things in my country recently. Search Google about PMC bank and Yes Bank scandals.
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!
October 01, 2020, 12:12:35 PM
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 
The fact that if such an organisation had this described terrorist role and use cryptocurrency to achieve that should not be surprising. Crypto has long been criticised for its identify protection of its users, it is not surprising that people who are involved in wrongdoing adapt to new ways...
One can only hope that this type of argument isn't going to be used insensibly when negotiating regulation around BTC and crypto. As this isn't going to deter people from doing it, they'll just use a different alternative.
The fact that if such an organisation had this described terrorist role and use cryptocurrency to achieve that should not be surprising. Crypto has long been criticised for its identify protection of its users, it is not surprising that people who are involved in wrongdoing adapt to new ways...
One can only hope that this type of argument isn't going to be used insensibly when negotiating regulation around BTC and crypto. As this isn't going to deter people from doing it, they'll just use a different alternative.
October 01, 2020, 12:01:46 PM
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.
October 01, 2020, 10:24:40 AM
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 "
It's you who doesn't understand what bitcoin is, it is freedom, outside the control of anybody.
Just as a knife can be used to cut a cake or stab something, a car to transport people to a hospital or run over innocent people bitcoin can be used for anything that the ones holding it wants, and furthermore, the people labeled terrorist are doing exactly what you say bitcoin was supposed to do, get away from the oppression of the government.
Get used to it, as bitcoin will gain more traction and be used daily by more people it will be used by the same guys that have used fiat till now to commit crimes. Or do you believe in fairytales and think that once we get rid of fiat there will be no more kidnapping, money laundering, crimes, drug deals?
October 01, 2020, 10:13:52 AM
The terror financing ring reportedly bought cryptocurrency coupons in licensed tobacco shops across France.
A large goup of accomplaces allegedly financing a jihadist network in Syria have been arrested after a sting operation by French police — despite choosing cryptocurrency coupons in an attempt to cover their tracks.
In a statement, police said that "constant surveillance of these networks prompted terrorist organisations to seek more opacity by using cryptocurrencies such as Bitcoin," as reported on Sept. 30.
Since 2019, the 29 accomplices have allegedly been supporting the operations of an Al-Qaeda affiliate terror organization, called “Hayat Tahrir Al-Sham.”
The network’s architects are reportedly two French jihadists in their mid-20s, who are both thought to be in northeastern Syria at present. Both were sentenced to 10 years in prison in absentia in 2016.
The 29 members of the network were busted after being caught purchasing cryptocurrency coupons worth between 10 and 150 euros each ($12–$176) on multiple occasions in recent months from tobacco outlets across France.
https://cointelegraph.com/news/french-police-arrest-terror-financing-ring-that-used-bitcoin-coupons
A large goup of accomplaces allegedly financing a jihadist network in Syria have been arrested after a sting operation by French police — despite choosing cryptocurrency coupons in an attempt to cover their tracks.
In a statement, police said that "constant surveillance of these networks prompted terrorist organisations to seek more opacity by using cryptocurrencies such as Bitcoin," as reported on Sept. 30.
Since 2019, the 29 accomplices have allegedly been supporting the operations of an Al-Qaeda affiliate terror organization, called “Hayat Tahrir Al-Sham.”
The network’s architects are reportedly two French jihadists in their mid-20s, who are both thought to be in northeastern Syria at present. Both were sentenced to 10 years in prison in absentia in 2016.
The 29 members of the network were busted after being caught purchasing cryptocurrency coupons worth between 10 and 150 euros each ($12–$176) on multiple occasions in recent months from tobacco outlets across France.
https://cointelegraph.com/news/french-police-arrest-terror-financing-ring-that-used-bitcoin-coupons
Good thing the police managed to caught them. For sure they are going to use those funds for something "not good" once they meet their goals. I really hate these terrorists and I hope the French Police or other enforcers gets to track down all these mad people. Now I want them to buy all the BTC they got from the suspects for donuts, they deserve it!
October 01, 2020, 10:09:35 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.
Majority of illegal activities are still using fiat. But sometimes media will blow-up news like this. Because it is another testament that crypto is being used in illegal activities. But for those who are informed and educated about crypto. They know better how to treat this kind of news. It won't even create a dent on how they look at crypto or bitcoin.
October 01, 2020, 10:05:49 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.
I totally agree with you that Bitcoin is just a currency. Bad things can happen to any currency. Drug mafias can continue their bad activities with any currency. It could be a paper coin, it could be a gold coin. Similarly, drug mafias can transact money through bitcoin. However, it is also through bitcoin that they get an additional benefit. For example, there is no problem in clearing bank accounts. So many times bad people use Bitcoin as a secure medium of transaction. Any currency can be used for evil means.
Dont terrorists and drug dealers use USD as well?
Bitcoin is just a currency.
October 01, 2020, 09:58:58 AM
If you compare the total amount of cryptocurrencies used from terrorist, within the totally of "fiat" currencies, you will be shocked! :O
I mean, 99,999 % of transactions are made with "fiat" currencies! At any level people sell illegal stuff with "cash" and not bitcoin...
Ok blackmarket and ok there are some group that use cryptocurrencies but statistically speaking they are just an useless percentage of the total!
Cash doesn't leave track. for sure it leaves less track then a bitcoin transaction. We should ban cash? Well in Italy there are some discussions about it ... but it's more related tax evasion.
I think these kind of news are getting popular just because it's involved bitcoin and we know, a strong propaganda has been done in the past years as a currency used for "illegal stuffs".
I mean, 99,999 % of transactions are made with "fiat" currencies! At any level people sell illegal stuff with "cash" and not bitcoin...
Ok blackmarket and ok there are some group that use cryptocurrencies but statistically speaking they are just an useless percentage of the total!
Cash doesn't leave track. for sure it leaves less track then a bitcoin transaction. We should ban cash? Well in Italy there are some discussions about it ... but it's more related tax evasion.
I think these kind of news are getting popular just because it's involved bitcoin and we know, a strong propaganda has been done in the past years as a currency used for "illegal stuffs".
October 01, 2020, 09:50:48 AM
In the aforementioned article it is clearly stated that these terrorist organizations are being financed with cryptocurrency coupons exclusively because of the fact they have no access to banks, they are isolated from financial system. What does it mean? If they weren't isolated, they would be recieving bank transfers instead, not stupid coupons worth 12$ each. How many such cuopons do they need to buy a Kalashnikov? A hundred maybe or more. Sounds ridiculous. I would not be surprised if this story turns out to be fake. Or it is written by a bitcoin hater whose main point is to demonize bitcoin once again.
I agree, a rather strange scheme for buying weapons. They also write that hundreds of people used such coupons, and this was invented for the introduction of cryptocurrency in France. But in theory, after that, the sale of coupons should be banned again. The terrorists should have bought such coupons for a fairly large amount, and the most interesting thing is the process of transferring the data of these coupons in encrypted form. Quite a lengthy task considering the volume.
But if such operations were successfully completed and terrorists were caught, then this is a very good job on the part of the police.
October 01, 2020, 09:19:02 AM
So they bought it freaking physically. 🙄
Stupid idea to do that since they compromised the very vital point and that's anonymous nature of transaction.
But it's good that this racket was blown off since it was being used to corrupt the use of bitcoin. Just imagine this kind of money might be getting used to buy artillery and terrorism purposes. Who knows, there could be numerous rackets like these and they might just be using power of bitcoin for such evil stuff already. No doubt in that.
Stupid idea to do that since they compromised the very vital point and that's anonymous nature of transaction.
But it's good that this racket was blown off since it was being used to corrupt the use of bitcoin. Just imagine this kind of money might be getting used to buy artillery and terrorism purposes. Who knows, there could be numerous rackets like these and they might just be using power of bitcoin for such evil stuff already. No doubt in that.
October 01, 2020, 08:44:46 AM
In the aforementioned article it is clearly stated that these terrorist organizations are being financed with cryptocurrency coupons exclusively because of the fact they have no access to banks, they are isolated from financial system. What does it mean? If they weren't isolated, they would be recieving bank transfers instead, not stupid coupons worth 12$ each. How many such cuopons do they need to buy a Kalashnikov? A hundred maybe or more. Sounds ridiculous. I would not be surprised if this story turns out to be fake. Or it is written by a bitcoin hater whose main point is to demonize bitcoin once again.
October 01, 2020, 07:43:22 AM
The terror financing ring reportedly bought cryptocurrency coupons in licensed tobacco shops across France.
A large goup of accomplaces allegedly financing a jihadist network in Syria have been arrested after a sting operation by French police — despite choosing cryptocurrency coupons in an attempt to cover their tracks.
In a statement, police said that "constant surveillance of these networks prompted terrorist organisations to seek more opacity by using cryptocurrencies such as Bitcoin," as reported on Sept. 30.
Since 2019, the 29 accomplices have allegedly been supporting the operations of an Al-Qaeda affiliate terror organization, called “Hayat Tahrir Al-Sham.”
The network’s architects are reportedly two French jihadists in their mid-20s, who are both thought to be in northeastern Syria at present. Both were sentenced to 10 years in prison in absentia in 2016.
The 29 members of the network were busted after being caught purchasing cryptocurrency coupons worth between 10 and 150 euros each ($12–$176) on multiple occasions in recent months from tobacco outlets across France.
https://cointelegraph.com/news/french-police-arrest-terror-financing-ring-that-used-bitcoin-coupons
I'm not sure I have ever heard of cryptocurrency coupons... I wonder why they opted for them when usually people just use cryptos. It's a shame that these coupons were introduced in France to attract people to the crypto sphere, but terrorists are those who got interested. I wonder what's the share of people who genuinely got interested to people who exploited this system for illegal purposes. I'm glad they were caught because financing terrorism is plundering Bitcoin's reputation. That being said, I do agree with bitmover that fiat is also used for illegal activities, and I've argued elsewhere (but I can't find the post right now) that it's used more actively than cryptos. A large goup of accomplaces allegedly financing a jihadist network in Syria have been arrested after a sting operation by French police — despite choosing cryptocurrency coupons in an attempt to cover their tracks.
In a statement, police said that "constant surveillance of these networks prompted terrorist organisations to seek more opacity by using cryptocurrencies such as Bitcoin," as reported on Sept. 30.
Since 2019, the 29 accomplices have allegedly been supporting the operations of an Al-Qaeda affiliate terror organization, called “Hayat Tahrir Al-Sham.”
The network’s architects are reportedly two French jihadists in their mid-20s, who are both thought to be in northeastern Syria at present. Both were sentenced to 10 years in prison in absentia in 2016.
The 29 members of the network were busted after being caught purchasing cryptocurrency coupons worth between 10 and 150 euros each ($12–$176) on multiple occasions in recent months from tobacco outlets across France.
https://cointelegraph.com/news/french-police-arrest-terror-financing-ring-that-used-bitcoin-coupons
October 01, 2020, 07:31:59 AM
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 !
Your words may ring true but when it comes to this kind of people who are trapped in an ideological echo chamber, it will be for naught. You are an optimist when it comes to these which explains your exclusion of people with ill intent exist. By the way, these jihadist appreciate the invention, that is why they are using it for terror finance. They appreciate the quasi-anonymity that bitcoin offers. The tainting of the name is definitely irreperable but if we as a cryptocommunity does not roll with the punches then our goal will only get so far. 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 !
October 01, 2020, 06:33:50 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.
True! But bitcoin is little extra special than any central bank issued currencies - even you know that fact! So there is no denying of the fact that bitcoin has given extra power to these terrorist outfits or drug dealers to continue their shady deals with extra ease because bitcoin is pseudo-anonymous in nature! Silkroute was one of its biggest beneficiaries!
While it's a fact that bitcoin is just a currency, it is also a fact that bitcoin makes the financial transactions easier for such miscreants. Banking channel is highly monitored around the world so crypto has now become their ideal choice as majority of the illegal incidents that we see around the world, has some association with bitcoin. Also it is a fact that bitcoin has nothing to with it because people can use bitcoin as per their own will. But such kind of associations definitely takes a dig at its reputation. Sad but true!
There is some truth in what you said.
But banks are highly corrupted and there are billions flowing to shady businesses
Look at the recent European banks scandal
https://www.reuters.com/article/us-europe-moneylaundering-explainer-idUSKCN1RG1XI
Quote
WHICH BANKS HAVE BEEN AFFECTED SO FAR?
The first to be hit was Latvia’s ABLV, which was liquidated last year after U.S. accusations of money-laundering activities.
The scandal spread to the Estonian branch of Danske Bank, Denmark’s largest lender, which is now facing probes in several countries for handling 200 billion euros ($224 billion) in suspicious transactions of Russian money between 2007 and 2015.
The first to be hit was Latvia’s ABLV, which was liquidated last year after U.S. accusations of money-laundering activities.
The scandal spread to the Estonian branch of Danske Bank, Denmark’s largest lender, which is now facing probes in several countries for handling 200 billion euros ($224 billion) in suspicious transactions of Russian money between 2007 and 2015.
You cannot move that amount of money with bitcoin easily
September 30, 2020, 06:42:39 PM
I hate when news sources tend to focus on the intricate details that Bitcoin was used, in an attempt to sway the opinion of the public to associate Bitcoin with criminals.
We do all hate this one and this had been always the case when crimes and scams/hacking incident to happen where news source are really elaborating and emphasizing that Bitcoin is involved which if its delivered on different way then people who are non-bitcoiners will surely believe that Bitcoin is evil.
This isnt something new and on this case, people would have an another bad impression towards it and that really slows down the adoption.
Bitcoin had just been used by other means just like on typical fiat.
September 30, 2020, 06:07:49 PM
I hate when news sources tend to focus on the intricate details that Bitcoin was used, in an attempt to sway the opinion of the public to associate Bitcoin with criminals. This is not accepted by the Bitcoin community, and certainly wasn't the intended use for Bitcoin. However, I know that this will be spun in many of the tabloids as being such, that by design Bitcoin allows these sorts of things to exist or something along those lines (ignoring the fact that there's a public ledger which records every transaction in existence). I've seen some drivel over the years. Its highly likely that this terrorism ring, were using several other currencies to as well.
The real focus here should be why terrorism still exists in 2020, and what we can do to stop it.
I'd argue that terrorism is outright wrong, and isn't made worse by using Bitcoin or any other currency for that matter. Terrorism is usually a crime against humanity, which happens to be in this case linked with Bitcoin. However, there has been many before (too many) linked with fiat currencies. The people who commit terrorism aren't known for having much appreciation for anything other than their own motives, let alone something as insignificant as Bitcoin when we are talking about real world lives.
The real focus here should be why terrorism still exists in 2020, and what we can do to stop it.
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 !
I'd argue that terrorism is outright wrong, and isn't made worse by using Bitcoin or any other currency for that matter. Terrorism is usually a crime against humanity, which happens to be in this case linked with Bitcoin. However, there has been many before (too many) linked with fiat currencies. The people who commit terrorism aren't known for having much appreciation for anything other than their own motives, let alone something as insignificant as Bitcoin when we are talking about real world lives.
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