is Bitcoin used to extort people? - page 2.

Siren

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Quote from: zakalwe on March 25, 2018, 11:54:21 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.

Don’t You have some proofs or evidence regarding this serious accusations?Have some reports that can attest this title of yours because this is a big issue that must be putted by actions in legak matters,but if you have nothing. Then lets forget about it

Quote from: blackdon01 on March 26, 2018, 04:36:20 PM

Tracking bitcoin transaction is becoming easier. The rest depends on the regulations of the government.

Transaction is really easy to track since cryptocurrency is not that total anonymous.and government regulations is another different thing about the topic

devinks

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Quote from: javainn on November 02, 2018, 12:25:56 PM

Quote from: zakalwe on March 25, 2018, 11:54:21 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.

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.

of course it is people who are irresponsible and abuse bitcoin so many people say bitcoin is not good. it is very difficult to get rid of bad people like that from bitcoin because bitcoin is anonymous so that it can be used by everyone in a single form.

CryptoToxicAvenger

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Since the transaction can be easily tracked, I think this is not a very suitable way of extortion. Of course, bitcoin is used for illegal purposes, but this will be fought.

BitcoinPanther

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Quote from: zakalwe on March 25, 2018, 11:54:21 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.

Bitcoin or not, extortionist will always find ways to do their bad deeds. Though it might be true that bitcoin's pseudonymity can prove favorable to such organized crime, the regulations being enforced nowadays might change all of that very soon.

rikybrosh

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Quote from: zakalwe on March 25, 2018, 11:54:21 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.

This topic is concern about cybercrime not bitcoin. Criminals can't avoid law enforcement just because they use bitcoin. Law enforcement always find the way to do their job. We should not blame bitcoin because of that, if Bitcoin is not exist then those hackers will find other methode to do cybercrime.

Indai24

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Quote from: javainn on November 02, 2018, 12:25:56 PM

Quote from: zakalwe on March 25, 2018, 11:54:21 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.

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.

We really don't have any proof or idea about this type of situition, however it could be possible too because bitcoin is anonymous, and this is the safest way for them to recieve and send money.

dzhan

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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.

aad140386

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simply getting the job done

In 2017, in Ukraine, the country's largest cyber attack on various institutions from banks to energy generating organizations and private firms was carried out. Cybercriminals demanded a ransom for restoring computers, but almost all the victims simply replaced their computers, and no one sent the ransom. I write this because with cybercriminals cannot cooperate. Otherwise it will be extortion and attacks will occur all the time. Unfortunately, there are no effective measures to combat cybercriminals, but I hope that soon they will appear.

2fresh

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Quote from: ?? on ??

Crimes are inevitable in fact with bitcoin now bad people find it more easier to commit or perpetuate more of their crime cause it untraceable yes bitcoin is used to extort people and that for now can not be changed but i hope the system gets better

Don't you think more people use cash to scam than crypto?

sinkfish

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Quote from: ?? on ??

Quote from: zakalwe on March 25, 2018, 11:54:21 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 is becoming relatively easier to track bitcoin transactions especially if they eventually cash out through exchanges which normally would require KYC procedures of the user.Bitcoin is certainly a tool of choice to extort people who want to remain in the 'dark'.This is the main argument against adoption bitcoin as a legal tender especially from government circles.

unless they could cash out without going through exchanges.

bajingluncat

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this is indeed one of the weaknesses of bitcoin, its anonymous nature is difficult for investigators to track such transactions, and we know that hackers are not fools, they may be smarter than us, there is a need for new technologies or systems, which are more stringent and guarantee , but I doubt because any sophisticated technology will not stop the hackers from carrying out their evil intentions

ElvisSinatra

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Bitcoin can be exchanged directly with an Internet connection device without the need of an intermediary financial institution, meaning that your purchase transaction is free of charge to the bank or any institution. Bitcoin seems to be the perfect payment solution in the Internet age, but because it's an uncontrolled currency, the criminals have a trading tool couldn't be better.

MbakNarti

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I think bitcoin transactions can be tracked, and all kinds of crimes that use bitcoin will be tracked. There are always people who commit crimes either trying to steal bitcoin, or misuse bitcoin, such as money laundering and so on. But basically bitcoin is here to give us happiness and make us have a lot of money through that investment, for that I just want to say that bitcoin creates comfort and helps many people overcome their financial problems, but there are some people who misuse bitcoin for a activities that violate the law, so there is a negative view of bitcoin.

enjotan

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Quote from: asyakashi on March 26, 2018, 06:34:56 PM

Ransomware has aggravated the argument about bitcoin, nothing is impossible. and FIat has been used for crimes such as extortion, illegal trade and other crimes.
we need strict rules and laws.

yes, what ransomware does will further aggravate people's views about bitcoin, but actually bitcoin is far more profitable and beneficial if used positively, hopefully in the future there will be strict legal rules so bitcoin is not misused for negative things.

James_Cline

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Not likely, in my opinion. Because for bitcoin, aren’t all transactions recorded on a public ledger and viewable by anyone with access to the blockchain? And so these “blackmailed funds” can be traced from the moment they were mined, correct?

Samemagazine

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Quote from: Kthestunner on October 29, 2018, 03:07:00 AM

Quote from: Trapcalledromance on October 29, 2018, 03:04:42 AM

You guys have no idea what Bitcoin is doing right now. First it showed you guys that alt coins are shit.
Then it destroyed bcash from .40 to .06
Now it’s stabilizing to show that it’s the true stable coin. Basically saying fuck you to Tether, USDC and True USD. Once these distractions are cleared out, moon time.

so how do you explain the extremely low volume? let me help you
the extremely low volume and the stable price means it's dead as fuck and nobody is using it.

Yeah, cause nobody ever said that before in Bitcoin's bear markets over the years. Wrong then, and wrong now.

Kthestunner

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Quote from: Trapcalledromance on October 29, 2018, 03:04:42 AM

You guys have no idea what Bitcoin is doing right now. First it showed you guys that alt coins are shit.
Then it destroyed bcash from .40 to .06
Now it’s stabilizing to show that it’s the true stable coin. Basically saying fuck you to Tether, USDC and True USD. Once these distractions are cleared out, moon time.

so how do you explain the extremely low volume? let me help you
the extremely low volume and the stable price means it's dead as fuck and nobody is using it.

Trapcalledromance

newbie

Activity: 7

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You guys have no idea what Bitcoin is doing right now. First it showed you guys that alt coins are shit.
Then it destroyed bcash from .40 to .06
Now it’s stabilizing to show that it’s the true stable coin. Basically saying fuck you to Tether, USDC and True USD. Once these distractions are cleared out, moon time.

Tetutu

newbie

Activity: 75

Merit: 0

Quote from: ajiejot on August 09, 2018, 10:04:58 PM

Bitcoin has negative effects and positive effects on society, it will depends on how people using it. But for me, Bitcoin is really a negative effects on human. Because in Bitcoin, you can send payments without going to any banks nowadays, as long as you have internet connection.

Bitcoin is widely banned in many countries because of anonymous factors, so it is easily misused by criminals such as extortionists, terrorists and even hackers. Therefore, to anticipate extortion using bitcoin, the government is monitoring the exchange of bitcoin, because in that place the identity of the bitcoin owner must be clear.

Tashi

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Yes, it is used by criminals but because of innovation, tracking Bitcoin transactions are much easier than it was before. But, because of this, it’ll be much easier for criminals or hackers to track down Bitcoin users and ask for ransom etc. We need to be extra careful if we’re going to have crypto transactions.

Topic: is Bitcoin used to extort people? - page 2. (Read 1997 times)