Illegal mass adoption - page 2. | Bitcointalksearch.org

Reatim

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Quote from: bitcoinst on July 23, 2020, 11:01:31 AM

A man in California has agreed to plead guilty to operating an illegal bitcoin ATM network that exchanged up to $25 million, according to a U.S. Department of Justice announcement on Wednesday.

Kais Mohammad, 36, who goes by the digital moniker “Superman29,” was charged in the United States District Court on three counts: for operating an unlicensed money exchange business, for money laundering and for not being able to maintain an effective anti-money laundering program.

He purchased Bitcoin ATM-type kiosks which were placed in malls, gas stations and convenience stores in several California counties. These kiosks allowed customers to buy and sell Bitcoin in exchange for cash. Mohammad supplied the machines with cash that customers could withdraw and maintained the server software to keep the kiosks running

https://www.theblockcrypto.com/linked/72697/doj-california-bitcoin-atm

----

We live in amazing times. To be honest, this is the first time I've heard about illegal Bitcoin ATMs. Now Muhammad can get 30 years in prison for illegal mass adoption.

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. Grin

For me my own opinion here is the made mistakes,He did not obey the Laws and he must be sentenced but this is too long,30 years?while in South Korea the Scammers that gain more than 200Million dolars and you can check it here

Quote

A South Korean court has sentenced an unnamed 43-year-old man to two years and six months in prison for his participation in a $249 million crypto mining pyramid scheme.

According to Yonhap Lee Sang-wook, the judge at the Incheon District Court who made the announcement, the crypto mining pyramid scheme is still under investigation. The indicted was allegedly a secretary of the illegal company from May 1 to September 23, 2017. No details were given about the magnitude of his involvement, nor the specific cryptocurrency involved in the fraud.

Police said that he played an active role by sending fake statements to victims. Authorities stated that the company cheated people by promising them 60% of the profits generated by mining activities. It was later discovered that no such activities existed.

https://cointelegraph.com/news/crypto-scammer-sentenced-by-south-korean-authorities

comparing the years of sentence and the amount involved?i believe that this is not fair.

Muhammad has capital while these scammers only lure and take money from people.

bitcoinst

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Quote from: panganib999 on July 25, 2020, 05:04:58 AM

It's kinda surprising and amazing how an ordinary person has been able to buy kiosk and Bitcoin ATM machine and have placed it on public places with no one at first hand noticing it happened. Although the intention is clear that it is to create mass promotion and adaption of using Bitcoin, there is a law that he bypass although there are already Bitcoin ATM machines around. Maybe it just looks illegal on how he have executed his intentions since we have a law to follow. But it was still amazing how this man is really wanting to have mass adaptation of using Bitcoin but he just messed up and have done it on an illegal way.

Have you read the news in full?

This person is not entirely ordinary. He organized an underground cryptocurrency exchange with a commission of 25%, and money laundering is associated with this.
In other words, he is a businessman who does not shy away from getting his hands dirty. It is possible that he laundered drug money.

carlisle1

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Quote from: bitcoinst on July 23, 2020, 11:01:31 AM

A man in California has agreed to plead guilty to operating an illegal bitcoin ATM network that exchanged up to $25 million, according to a U.S. Department of Justice announcement on Wednesday.

Kais Mohammad, 36, who goes by the digital moniker “Superman29,” was charged in the United States District Court on three counts: for operating an unlicensed money exchange business, for money laundering and for not being able to maintain an effective anti-money laundering program.

He purchased Bitcoin ATM-type kiosks which were placed in malls, gas stations and convenience stores in several California counties. These kiosks allowed customers to buy and sell Bitcoin in exchange for cash. Mohammad supplied the machines with cash that customers could withdraw and maintained the server software to keep the kiosks running

https://www.theblockcrypto.com/linked/72697/doj-california-bitcoin-atm

----

We live in amazing times. To be honest, this is the first time I've heard about illegal Bitcoin ATMs. Now Muhammad can get 30 years in prison for illegal mass adoption.

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. Grin

I Don't tolerate illegal works because for me it is against the rule of government and also God.

But what this man did?is really amazing as he wanted bitcoin to be adopted(and of course he wanted to gain much profit)
Doing such action is really not a good idea but this is for the benefits of the whole community here in crypto.

But anyway this must be given action by the government because Rule is rule.

But congrats to HIm he made a good job for crypto people lol.

jademaxsuy

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Quote from: panganib999 on July 25, 2020, 05:04:58 AM

It's kinda surprising and amazing how an ordinary person has been able to buy kiosk and Bitcoin ATM machine and have placed it on public places with no one at first hand noticing it happened. Although the intention is clear that it is to create mass promotion and adaption of using Bitcoin, there is a law that he bypass although there are already Bitcoin ATM machines around. Maybe it just looks illegal on how he have executed his intentions since we have a law to follow. But it was still amazing how this man is really wanting to have mass adaptation of using Bitcoin but he just messed up and have done it on an illegal way.

I think he is aware of it that it is illegal but I guess he is just a business minded individual to that only after for gains or profit. So, this is now the result of his activity. However I admire his courage knowing that he pleaded guilty on the case. Hopefully that he can just make a settlment for all of his wrong doings so as to get another chance to live life better than in prison. We all know that a prison is not likely to live with.

panganib999

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It's kinda surprising and amazing how an ordinary person has been able to buy kiosk and Bitcoin ATM machine and have placed it on public places with no one at first hand noticing it happened. Although the intention is clear that it is to create mass promotion and adaption of using Bitcoin, there is a law that he bypass although there are already Bitcoin ATM machines around. Maybe it just looks illegal on how he have executed his intentions since we have a law to follow. But it was still amazing how this man is really wanting to have mass adaptation of using Bitcoin but he just messed up and have done it on an illegal way.

rodskee

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Quote from: reliable on July 25, 2020, 12:35:26 AM

Quote from: ?? on ??

Reminds me about the thread of a guy caught mining Bitcoin secretly at his place of work.
In this story, Mohammad have to pay a price of going to jail just because of trying to create mass adoption. They should be the one here to be blamed for being unaware about such operation in the first place.

This is a sad story, because the guy could have used quite other ways and that too legally rather than doing this illegal stuff and now what has happened is that he has ruined his life and of the loved ones.

Before doing anything you should always check first the corresponding
laws behind it.
There's always a say ignorance of the law is never an excused, you'll
suffer the consequence as always.

Quote from: reliable on July 25, 2020, 12:35:26 AM

This also does not create a good image for the bitcoin as people consider that all illegal stuff happens related to it which is not right as well.

It only reflect like that to people who didn't understand bitcoin to the fullest
as for those who knows this investment currency,
that won't happened as they know what really bitcoin is, and how bitcoin works
as opportunities to earn.

reliable

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Quote from: ?? on ??

Reminds me about the thread of a guy caught mining Bitcoin secretly at his place of work.
In this story, Mohammad have to pay a price of going to jail just because of trying to create mass adoption. They should be the one here to be blamed for being unaware about such operation in the first place.

This is a sad story, because the guy could have used quite other ways and that too legally rather than doing this illegal stuff and now what has happened is that he has ruined his life and of the loved ones. This also does not create a good image for the bitcoin as people consider that all illegal stuff happens related to it which is not right as well.

btc78

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Quote from: bitcoinst on July 23, 2020, 11:01:31 AM

A man in California has agreed to plead guilty to operating an illegal bitcoin ATM network that exchanged up to $25 million, according to a U.S. Department of Justice announcement on Wednesday.

Kais Mohammad, 36, who goes by the digital moniker “Superman29,” was charged in the United States District Court on three counts: for operating an unlicensed money exchange business, for money laundering and for not being able to maintain an effective anti-money laundering program.

He purchased Bitcoin ATM-type kiosks which were placed in malls, gas stations and convenience stores in several California counties. These kiosks allowed customers to buy and sell Bitcoin in exchange for cash. Mohammad supplied the machines with cash that customers could withdraw and maintained the server software to keep the kiosks running

https://www.theblockcrypto.com/linked/72697/doj-california-bitcoin-atm

----

We live in amazing times. To be honest, this is the first time I've heard about illegal Bitcoin ATMs. Now Muhammad can get 30 years in prison for illegal mass adoption.

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. Grin

For me?i don't care if this is illegal or legal what is important here is the service he gave for the bitcoin users,He only fool the government but this helps the community in a good manner.

and also he helps other people to learn about what bitcoin is and Good or bad publicity is still publicity so we all here benefits from His action right?

Quote from: ?? on ??

Reminds me about the thread of a guy caught mining Bitcoin secretly at his place of work.
In this story, Mohammad have to pay a price of going to jail just because of trying to create mass adoption. They should be the one here to be blamed for being unaware about such operation in the first place.

Yups this leak is authorities mistake because the man did the business inside public and private properties so they must be aware for the first place.

Asuspawer09

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Quote from: electronicash on July 24, 2020, 03:21:01 PM

Quote from: Asuspawer09 on July 24, 2020, 02:53:59 PM

Quote from: bitcoinst on July 23, 2020, 11:01:31 AM

A man in California has agreed to plead guilty to operating an illegal bitcoin ATM network that exchanged up to $25 million, according to a U.S. Department of Justice announcement on Wednesday.

Kais Mohammad, 36, who goes by the digital moniker “Superman29,” was charged in the United States District Court on three counts: for operating an unlicensed money exchange business, for money laundering and for not being able to maintain an effective anti-money laundering program.

He purchased Bitcoin ATM-type kiosks which were placed in malls, gas stations and convenience stores in several California counties. These kiosks allowed customers to buy and sell Bitcoin in exchange for cash. Mohammad supplied the machines with cash that customers could withdraw and maintained the server software to keep the kiosks running

https://www.theblockcrypto.com/linked/72697/doj-california-bitcoin-atm

----

We live in amazing times. To be honest, this is the first time I've heard about illegal Bitcoin ATMs. Now Muhammad can get 30 years in prison for illegal mass adoption.

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. Grin

I guess you could just put a bitcoin ATM at anyplace Grin

, and sure no one is going to notice if it is a legitimate ATM or a licensed one.

Until someone from the government probably inspects the ATM and find out that it is not registered. Might be a clever way to do some money laundering and scam some bitcoin from the community.

its a shining gold for authorities these days since they already know how much money there is in BTC. it would be noticed and it gets unlucky if the undercover proves the business is illegal. its fascinating how much he had achieved though with no legal documents to his business.

don't you think his business could turn into legal if the guy has a christian name like JAMES than Mohammad?

I think even here in my countries something like this could easily be executed.

You could just put this fake ATM at some small businesses and probably you could just pay them a small fees to put ATM near in small business.

Even some legitmate ATM could easily be find anywhere so nobody really is going to doubt it if it is registered or not.

Finestream

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That's like an illegal operation, there's no way anything that is not legal can attract mass adoption, that would be risky to everyone and they are not willing to take that risk. How unfortunate he is, if his intention was clean, then he wished he didn't do such thing as according to the news, if he plead guilty, he will be facing a 30 years imprisonment. The case is more focus not on the non licensed operation but on its effect that it could be use for money laundering.

Lordhermes

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Quote from: cheezcarls on July 23, 2020, 11:43:02 PM

This reminds me of an office that I visited back then somewhere in the National Capital Region of the Philippines. It was last year. My friend and I have visited her business contact, and he showed to us his various Bitcoin ATMs. I asked him if these Bitcoin ATMs are already registered and regulated for massive adoption, but he said it was still "under process", so it was not yet licensed to operate in various public establishments.

It's very essential for a Bitcoin ATM to be registered with proper license even if it's decentralized. Although licensing fees costs us a lot, it's way better than just doing massive adoption in an illegal way. Like Forsage right now, they are massively adopting Ethereum in an illegal way.

People fears mostly the cost of the registration fee and charges for operating Bitcoin ATM machine in your shopping malls, cryptocurrency from first angle is a decentralized network but using ATM without much governmental undergoing is such an illegal drugs taken. At OP, for kiost to have generated $25 million is a great start and indirectly promoting the important of bitcoin and it's mass adoption.

imstillthebest

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he only wants mass adoption and now he is going to jail , thats sad but its also its fault . he have the ability to buy several units of atm's that can be able to transacts thousands of dollar but he doesnt come to his mind that what could be doing is already illegal because of lack of knowledge in terms of operating a kind of business like this .

i dont know what will happen to the atm's left but authorities can make use of it again and make it more legal under thier own hands

pixie85

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Quote from: stompix on July 23, 2020, 12:31:07 PM

Quote

Mohammad offered Bitcoin-cash exchange services, charging commissions of up to 25%, which is significantly above the current market rate. He met clients in public locations and exchanged currency for them without asking about the origin of those funds.

Common, nobody would pay 25% just for privacy, even if we speak of sums above 1k it was worth the effort to go in another city and deal with a different ATM. And why did he kept meeting clients..

Such high fees wouldn't even be worth it for someone who wanted to avoid taxation.

If you're willing to pay that much you have to be running a large illegal operation involving drugs, stolen property and such.

For me 10% would seem like a suspiciously high fee.

electronicash

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Quote from: Asuspawer09 on July 24, 2020, 02:53:59 PM

Quote from: bitcoinst on July 23, 2020, 11:01:31 AM

A man in California has agreed to plead guilty to operating an illegal bitcoin ATM network that exchanged up to $25 million, according to a U.S. Department of Justice announcement on Wednesday.

Kais Mohammad, 36, who goes by the digital moniker “Superman29,” was charged in the United States District Court on three counts: for operating an unlicensed money exchange business, for money laundering and for not being able to maintain an effective anti-money laundering program.

He purchased Bitcoin ATM-type kiosks which were placed in malls, gas stations and convenience stores in several California counties. These kiosks allowed customers to buy and sell Bitcoin in exchange for cash. Mohammad supplied the machines with cash that customers could withdraw and maintained the server software to keep the kiosks running

https://www.theblockcrypto.com/linked/72697/doj-california-bitcoin-atm

----

We live in amazing times. To be honest, this is the first time I've heard about illegal Bitcoin ATMs. Now Muhammad can get 30 years in prison for illegal mass adoption.

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. Grin

I guess you could just put a bitcoin ATM at anyplace Grin

, and sure no one is going to notice if it is a legitimate ATM or a licensed one.

Until someone from the government probably inspects the ATM and find out that it is not registered. Might be a clever way to do some money laundering and scam some bitcoin from the community.

its a shining gold for authorities these days since they already know how much money there is in BTC. it would be noticed and it gets unlucky if the undercover proves the business is illegal. its fascinating how much he had achieved though with no legal documents to his business.

don't you think his business could turn into legal if the guy has a christian name like JAMES than Mohammad?

Asuspawer09

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Quote from: bitcoinst on July 23, 2020, 11:01:31 AM

A man in California has agreed to plead guilty to operating an illegal bitcoin ATM network that exchanged up to $25 million, according to a U.S. Department of Justice announcement on Wednesday.

Kais Mohammad, 36, who goes by the digital moniker “Superman29,” was charged in the United States District Court on three counts: for operating an unlicensed money exchange business, for money laundering and for not being able to maintain an effective anti-money laundering program.

He purchased Bitcoin ATM-type kiosks which were placed in malls, gas stations and convenience stores in several California counties. These kiosks allowed customers to buy and sell Bitcoin in exchange for cash. Mohammad supplied the machines with cash that customers could withdraw and maintained the server software to keep the kiosks running

https://www.theblockcrypto.com/linked/72697/doj-california-bitcoin-atm

----

We live in amazing times. To be honest, this is the first time I've heard about illegal Bitcoin ATMs. Now Muhammad can get 30 years in prison for illegal mass adoption.

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. Grin

I guess you could just put a bitcoin ATM at anyplace Grin

, and sure no one is going to notice if it is a legitimate ATM or a licensed one.

Until someone from the government probably inspects the ATM and find out that it is not registered. Might be a clever way to do some money laundering and scam some bitcoin from the community.

akram143

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Quote from: bitcoinst on July 23, 2020, 11:01:31 AM

A man in California has agreed to plead guilty to operating an illegal bitcoin ATM network that exchanged up to $25 million, according to a U.S. Department of Justice announcement on Wednesday.

Kais Mohammad, 36, who goes by the digital moniker “Superman29,” was charged in the United States District Court on three counts: for operating an unlicensed money exchange business, for money laundering and for not being able to maintain an effective anti-money laundering program.

He purchased Bitcoin ATM-type kiosks which were placed in malls, gas stations and convenience stores in several California counties. These kiosks allowed customers to buy and sell Bitcoin in exchange for cash. Mohammad supplied the machines with cash that customers could withdraw and maintained the server software to keep the kiosks running

https://www.theblockcrypto.com/linked/72697/doj-california-bitcoin-atm

----

We live in amazing times. To be honest, this is the first time I've heard about illegal Bitcoin ATMs. Now Muhammad can get 30 years in prison for illegal mass adoption.

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. Grin

Countries have different regulations for ATM even though bitcoin and cryptos are legal there, even in India it is literally not possible to have bitcoin ATM at the moment.So anyone who wants to have their own bitcoin ATM should take the legal advice from someone who knows the laws well to avoid such kind of scenario in their life.

nnedigood

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These are the people that are sending bad signal trying to paint cryppto currency and blockchain business as illegal. Doing the right thing with a wrong method and wrong place will turn a good business as economic crime. He should have find out if the state financial law permits the installation of BTC ATM and whether Crypto currency transaction is legal. 30 yrs in the cool will re set his brain. Thanks for the info Bro.

Nhor1011

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Quote from: bitcoinst on July 23, 2020, 11:01:31 AM

A man in California has agreed to plead guilty to operating an illegal bitcoin ATM network that exchanged up to $25 million, according to a U.S. Department of Justice announcement on Wednesday.

Kais Mohammad, 36, who goes by the digital moniker “Superman29,” was charged in the United States District Court on three counts: for operating an unlicensed money exchange business, for money laundering and for not being able to maintain an effective anti-money laundering program.

He purchased Bitcoin ATM-type kiosks which were placed in malls, gas stations and convenience stores in several California counties. These kiosks allowed customers to buy and sell Bitcoin in exchange for cash. Mohammad supplied the machines with cash that customers could withdraw and maintained the server software to keep the kiosks running

https://www.theblockcrypto.com/linked/72697/doj-california-bitcoin-atm

----

We live in amazing times. To be honest, this is the first time I've heard about illegal Bitcoin ATMs. Now Muhammad can get 30 years in prison for illegal mass adoption.

I wonder what will happen to ATMs and what is their number, I hope the state will appropriate it and allow people to use them with reduced commissions. Grin

Why he didn't cooperate with the government of California and get all needed requirement before putting up his bitcoin ATM machines so that it will not become illegal. It was a frustrating experience for Kais Mohammad and frustrating bitcoin mass adoption on that country.

thesmallgod

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how did he even persuaded them at the mall to operate an ATM without any business registration and License ? there could be more to this. It is amazing that US is recognizing crypto as a form of money but operating an bitcoin ATM business is just like owning a crypto exchange platform which need to be registered in a country of interest. Operating such an illegal business stance a chance of being paraded by criminals who can be involved in money laundering

Leonardo7

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People should learn to always abide by the laws of the land to avoid clashing with the government. The government and the banks have been skeptical about bitcoin and cryptocurrency, therefore proper legal work must be done and complied with to avoid been on the government radar.

Topic: Illegal mass adoption - page 2. (Read 683 times)