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Topic: is Bitcoin used to extort people? (Read 2008 times)

full member
Activity: 434
Merit: 101
November 03, 2018, 05:55:35 AM
That can be possible as what i have read from an extortion case of ransomware victim. The cyber criminal is forced to pay a certain amount to a bitcoin address as ransomed of the files being stolen and locked by the cyber criminal. Bitcoin became a very good tool for criminals to do such thing because they feel safe when they use blockchain.
member
Activity: 434
Merit: 10
November 03, 2018, 03:53:13 AM
Various uses for bitcoin and this depends on the individual, how can bitcoin be used for extortion, this makes your mind not broad. See and re-learn people who are successful in crypto, they are not visible but the results of transactions you can see, and that certainly has fantasy value. For those who have to use it wisely.
sr. member
Activity: 672
Merit: 250
November 03, 2018, 03:38:23 AM
who said it was a big mistake because with the existence of bitcoin everyone could be helped by his economy which was previously still difficult and after getting to know bitcoin it became all-sufficient. so that bitcoin has become our field of work to earn big income
jr. member
Activity: 202
Merit: 1
November 03, 2018, 03:36:41 AM
if in my opinion not at all bro. even though there are some of the bitcoiners experiencing losses. because they sell their bitcoin in a state of loss or the market situation is falling sharply. if they continue to hold their assets and be patient they certainly don't suffer losses
jr. member
Activity: 294
Merit: 1
November 03, 2018, 01:31:17 AM
If Bitcoin using to extort people, then hackers that do that is not so smart. They can use Zcash or Monero for that purposes and feel themself more save.
member
Activity: 296
Merit: 10
November 03, 2018, 01:21:14 AM
I think bitcoin can be used for extorting money, but this is probably the new way of thinking hackers, but in addition to the hidden address mode they can get without any obstruction. And if possible Tracking is done through decentralization but when caught they are also done with your money. Grin
newbie
Activity: 31
Merit: 0
November 02, 2018, 11:05:36 PM
Both Bitcoin and cryptocurrency have double-edged sword. they are famous for its anonymity but it also can be used for criminal. But I think we can not do anything to limit this using.
full member
Activity: 420
Merit: 100
November 02, 2018, 06:25:09 PM
Yeah BTC gave the world new ways for both victimize people and track down frauds. It's not absolutely positive or negative, it just created a whole new universe where the rules are slightly different.
brand new
Activity: 0
Merit: 0
November 02, 2018, 06:23:11 PM
I think the use of dark bitcoin will continue but not increase dramatically. There will be many adjustments to limit such cases
full member
Activity: 733
Merit: 100
November 02, 2018, 12:25:56 PM
Because of the semi-anonymous nature of Bitcoin, it’s used in ransomware attacks. Hackers breach networks and hold them hostage until payment is made to them. Hospitals and schools have been victims of these types of attacks. However, unlike cash, which was favored by thieves in the past, Bitcoin always leaves a trail in the blockchain that investigators can follow.
there are so many events that ask people to submit bitcoin as a condition for release. I think this is a detrimental thing if bitcoin is used to blackmail people and this is a negative thing for those who use bitcoin.
full member
Activity: 700
Merit: 102
November 02, 2018, 11:02:13 AM
if in my opinion not at all bro. even with bitcoin many people have become successful and have bright video futures. but now the world of bitcoin doesn't have a good price chart movement. so that many people become a loss because they sell their asset assets, bro

the view of each person is different, but indeed there are those who have succeeded with bitcoin. but there are also those who have misused using bitcoin until now, which is fraud, even though fraud is enough to harm us all here.
newbie
Activity: 36
Merit: 0
November 03, 2018, 08:14:12 AM
Because of the semi-anonymous nature of Bitcoin, it’s used in ransomware attacks. Hackers breach networks and hold them hostage until payment is made to them. Hospitals and schools have been victims of these types of attacks. However, unlike cash, which was favored by thieves in the past, Bitcoin always leaves a trail in the blockchain that investigators can follow.



it could be used as with any centralized currency
member
Activity: 311
Merit: 10
November 03, 2018, 08:09:02 AM
Yes and these kinds of unlawful acts have been so hard for those who got victimized. But no matter what hackers, scammers and extortionist do, we must learn how to stay safe from them. Crypto currencies have done great things for us but we cannot hide the truth that it is being use by the criminals too.
full member
Activity: 504
Merit: 100
November 03, 2018, 08:01:28 AM
Because of the semi-anonymous nature of Bitcoin, it’s used in ransomware attacks. Hackers breach networks and hold them hostage until payment is made to them. Hospitals and schools have been victims of these types of attacks. However, unlike cash, which was favored by thieves in the past, Bitcoin always leaves a trail in the blockchain that investigators can follow.

But then again, the features of bitcoins are a double edged sword. You have the decentralized and uncontrolled transaction but then again, crimes can be easily committed by having people send money anonymously. But we can all see and appreciate the good things bitcoins have brought into the world.
legendary
Activity: 1316
Merit: 1145
November 03, 2018, 05:32:07 AM
so. every bitcoin transaction can be tracked. and traced. because all transaction records are written on the blockchain. so even though bitcoin is semi-anonymous, it does not guarantee confidentiality to the sender and recipient. so that any crime can be traced.
sr. member
Activity: 1330
Merit: 258
November 03, 2018, 05:04:11 AM
Because of the semi-anonymous nature of Bitcoin, it’s used in ransomware attacks. Hackers breach networks and hold them hostage until payment is made to them. Hospitals and schools have been victims of these types of attacks. However, unlike cash, which was favored by thieves in the past, Bitcoin always leaves a trail in the blockchain that investigators can follow.

Yes, I don't think that can follow and check all blockchain for finding hackers.
In any case they use bitcoin mixers and trail will be disappeared.
copper member
Activity: 381
Merit: 0
November 03, 2018, 04:55:28 AM
Yes, the level of scam through the blockchain has increased in recent time, but the good news is that we can track easily these transactions these days. If people extort people now using the blockchain, such can be traced now.
member
Activity: 238
Merit: 10
Lead generation one-stop shop platform powered AI
November 03, 2018, 01:13:39 AM
Any form of currency has disadvantage as those criminal will find holes in the system to take advantage. Those criminals can exploit the anonymity transaction of blockchain technology but the government can track them.  
jr. member
Activity: 295
Merit: 1
November 03, 2018, 12:44:03 AM
Both Bitcoin and cryptocurrency have double-edged sword. they are famous for its anonymity but it also can be used for criminal. But I think we can not do anything to limit this using.


I agree with you, whether bitcoin or fiat money has a positive and negative side, depending on where we are going to bring it, a hacker is like a bank robber but in a different way.
legendary
Activity: 2674
Merit: 1048
November 02, 2018, 11:19:09 PM
Bitcoin is used for many purposes, it depends on the user's intentions, just like using fiat currencies. Bitcoin was created to be used legally, for trading, buying and selling things online and offline, but we see that some people used it for illegal purposes. That's the fault of the user himself not the mistake of Bitcoin.
I think every payment system can be used as an illegal payment system. It's just that bitcoin has not been accepted by every country and there are several countries that make bitcoin a tool that must be avoided and this problem can influence someone's opinion about bitcoin. As for anynomous thing it's not a big problem, you can see the use of money fiat that is used as an illegal payment system, the transaction will be kept secret, one's view is too much to overestimate anynomous found in bitcoin.
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