I don't really give it much thoughts whenever I hear that cryptocurrency is the major ways through which fraudsters move their funds. I'm only concerned about gullible people that don't take their time to verify information. I know very well that these propaganda are being sponsored by the government to discredit cryptocurrency and to make it look bad so that people would stay off it. US dollars is the most laundered currency in the world and according to this article Bitcoin makes up only 0.3% of the money laundered globally.
Topic: Shame on haters for claiming that crypto is widely used in terrorist financing! - page 2. (Read 364 times)
October 25, 2023, 08:46:35 AM
October 25, 2023, 08:22:17 AM
It's a fact that cryptocurrencies are sometimes used for terrorist financing and other illicit purposes, but that doesn't necessarily make crypto the primary player in such activities.
We are in the era of freedom of speech, let them say whatever thing they want, we know want we also want and trusted, right before bitcoin was introduced in 2009, people have been engaged in all manner of fraudulent activities using fiat, now that bitcoin has been introduced, this crime rate has reduced because you're having a personal control over your financial life and the security to your wallet remain ever secured with bitcoin because your asset are stored on the blockchain, but if you choose an exchange or leave your private information open, then this is at your own risk if scammed.
October 25, 2023, 08:21:36 AM
Terrorists are almost certainly not using crypto for their day-to-day terror activities. It's too inconvenient when most people don't have an internet device (you think they're allowed to carry mobile phones with them? They can be tracked by intelligence agencies.) It is likely only the financing of terrorism part that may possibly be done in cryptocurrency payments to a power broker.
That's correct, but some people do think that way, believing that Bitcoin is used to finance terrorism, which isn't entirely true. Such beliefs harm Bitcoin's reputation, even though physical cash is more frequently used in such activities, given its difficulty to trace. Regardless of the mud-slinging, Bitcoin continues to exist and grow in adoption because these accusations are baseless. The 1% figure is relatively small compared to the total money funneled into terrorist activities.
I've read some articles in the past that suggest governments make a lot of money during times of war. So, I believe those who create fiat currency are potentially more corrupt than what they accuse Bitcoin of. Let's not forget that they can keep printing money endlessly, which, on its own, is already an issue.
October 25, 2023, 08:16:04 AM
So how dare they blaming it all in crypto?
Terrorist existed for a long time before Bitcoin was founded. So it's not reasonable to blame Bitcoin for the existence of criminals today. It is probable that they would misuse Bitcoin because it is decentralized, which means that you can use it anonymously. But what is the primary reason that criminals continue to exist today? Because someone is behind them and can make them easy to pay a person with crypto. But we must remember that Bitcoin was created to protect us against opportunistic and bad people.Crypto is not completely anonymous. Some entities can still be traced if done in detail. Except when it comes to privacy coins. Crypto and Bitcoin is pseudonymous (https://www.cloudwards.net/is-crypto-anonymous/)
Many people say that crypto has a close relationship with terrorism and crime, but if you think about the strict KYC system on each exchange, tracking and intelligence, it is very risky for criminals or terrorists to access crypto and then disburse funds on the exchange. This will quickly reveal its activities through a transaction.
Online prostitution or sexual content may have greater involvement compared to terrorism, drugs and crime activities.
This is crypto transaction data related to criminal cases that I took from the CRYPTOPOTATO news website.
https://cryptopotato.com/illicit-crypto-transactions-in-2022-surpassed-20-billion-for-the-first-time-chainalysis/?amp
October 25, 2023, 07:58:49 AM
Some blame crypto but they don't have any basis to prove it because what they have is just rumors. In fact, crypto doesn't give them 100% anonymity which they might think they are safe. It is not necessary anymore. It is possible that there are a few of them but I don't think they'll make use of crypto every transaction they have made...
I'd say they don't need it, with the number of online transactions available these days, it was easy for them to do it.
We can't erase the fact that some people will take advantage of crypto but this won't generalize everything and blame crypto as a medium for terrorist financing.
I'd say they don't need it, with the number of online transactions available these days, it was easy for them to do it.
We can't erase the fact that some people will take advantage of crypto but this won't generalize everything and blame crypto as a medium for terrorist financing.
October 25, 2023, 07:36:47 AM
So how dare they blaming it all in crypto?
They can say whatever they want, we can't stop them and have no reason to care what they say. Like you can't please everyone and some people are saying bad things about you, does that mean you're a bad person? If you are not what they say, then you should not and do not need to worry about people who say bad things about you because other than talking bad about you, they cannot do anything to you. They say bad things about you just shows that they are jealous because they lost to you, so we have nothing to worry about. Bitcoin is the same, it cannot please everyone and that is normal in life.
October 25, 2023, 07:18:58 AM
So how dare they blaming it all in crypto?
Terrorist existed for a long time before Bitcoin was founded. So it's not reasonable to blame Bitcoin for the existence of criminals today. It is probable that they would misuse Bitcoin because it is decentralized, which means that you can use it anonymously. But what is the primary reason that criminals continue to exist today? Because someone is behind them and can make them easy to pay a person with crypto. But we must remember that Bitcoin was created to protect us against opportunistic and bad people. 
October 25, 2023, 06:41:55 AM
The reason why they want to paint crypto as a funding source for terrorism is because they cant really control in. BUT in order to add more controls/rules for crypto they want to have a reason and theres no easier exlanation than terrorism/money laundering.
In reality, vast majority, if not pretty much all of terror financing is done using the USD.
USD is the main currency of the world so how come that they are putting blame in crypto, while they can not have the complete control then better for them to break crypto name and make if bad for the whole world.In reality, vast majority, if not pretty much all of terror financing is done using the USD.
but sorry for them because we as crypto users and investors had already planted what is good for our family and friends as they are now supporting bitcoin as well.
The US government is coming up with laws that will make mixing services a threat to the county's security. What is their reason? There is news going around that Hamas is using cryptocurrencies to finance the war in the Middle East. The government immediately used this unverified information as the major reason to truncate the freedom and privacy these services offer. If this law is enforced in the US there are possibilities that other copycat nations will follow suit. it is not a surprise that they want to invoke section 311 of the Patriot Act to classify privacy as terrorist financing. They know that cryptocurrencies play an insignificant role in terrorist financing but they just simply want everybody to be under their watch. But there will always be a way out.
even before that war , the US is already running against Mixing service as we have seen them closing those big mixer that we have here in forum advertising , so what more they can add from those?
October 25, 2023, 06:20:10 AM
The US government is coming up with laws that will make mixing services a threat to the county's security. What is their reason? There is news going around that Hamas is using cryptocurrencies to finance the war in the Middle East. The government immediately used this unverified information as the major reason to truncate the freedom and privacy these services offer. If this law is enforced in the US there are possibilities that other copycat nations will follow suit. it is not a surprise that they want to invoke section 311 of the Patriot Act to classify privacy as terrorist financing. They know that cryptocurrencies play an insignificant role in terrorist financing but they just simply want everybody to be under their watch. But there will always be a way out.
October 25, 2023, 06:11:06 AM
It's a fact that cryptocurrencies are sometimes used for terrorist financing and other illicit purposes, but that doesn't necessarily make crypto the primary player in such activities. According to Chainalysis, only "1% of the entire crypto market is involved in illicit activity." This is because there are alternative sources for these funds that are much larger than the crypto space.
To be more precise, cryptocurrencies, fiat currencies or any instruments are not created with the intention of being used by criminals or intended to be used for evil actions. All those evil things come from human behavior and it is humans who are evil, no fiat currency or bitcoin is evil. Neither Bitcoin nor mixers have anything to do with crime or terrorism, but unfortunately, criminals use them and we have no way to stop it. Everyone understands that it's just human behavior, but people who hate bitcoin will always use it as an excuse to talk bad about bitcoin. But that doesn't change the fact that more and more people are realizing it so we don't need to explain further, Bitcoin has nothing to do with terrorism or crime.
October 25, 2023, 05:42:02 AM
It's a fact that cryptocurrencies are sometimes used for terrorist financing and other illicit purposes, but that doesn't necessarily make crypto the primary player in such activities. According to Chainalysis, only "1% of the entire crypto market is involved in illicit activity." This is because there are alternative sources for these funds that are much larger than the crypto space.
2023 Crypto crime report (Chainalysis).Read their 2023 full report on it.
Download.
From their report, the terrorist financing is very tiny part of illicit activities through cryptocurrency.
Quote
Overall, the share of all cryptocurrency activity associated with illicit activity has risen for the first time since 2019, from 0.12% in 2021 to 0.24% in 2022. [2]
Our full 2023 Crypto Crime Report will dig into the details of the criminal activity behind that 0.24%, as well as what our on-chain analysis reveals about the market failures of the last year.
Our full 2023 Crypto Crime Report will dig into the details of the criminal activity behind that 0.24%, as well as what our on-chain analysis reveals about the market failures of the last year.
Recently they published this blog post.
Correcting the Record: Inaccurate Methodologies for Estimating Cryptocurrency’s Role in Terrorism Financing
October 25, 2023, 05:28:57 AM
Terrorists are almost certainly not using crypto for their day-to-day terror activities. It's too inconvenient when most people don't have an internet device (you think they're allowed to carry mobile phones with them? They can be tracked by intelligence agencies.) It is likely only the financing of terrorism part that may possibly be done in cryptocurrency payments to a power broker.
October 25, 2023, 05:22:56 AM
Sounds like Elisabeth Warren kinda hatred for crypto, that mama ain't getting to the presidency sit, never, not with Blackrock and others after ETH and BTC ETF approval, someone like Warren will just make things more harder for them, imagine she is the president right now, she would have been a good match with Gensler, they would have caused a lot of damages.
People tend to only throw hates at what they don't understand, instead for them to learn and understand the idea behind Bitcoin existence they choose to hate.
Crypto can be use to fund terrorism, I accept this claim, but since the existence of crypto, there hasn't been any proof that shows that this is true, for the fact that everything is transparent on ten block chain, it's a stupid point without a proof.
People tend to only throw hates at what they don't understand, instead for them to learn and understand the idea behind Bitcoin existence they choose to hate.
Crypto can be use to fund terrorism, I accept this claim, but since the existence of crypto, there hasn't been any proof that shows that this is true, for the fact that everything is transparent on ten block chain, it's a stupid point without a proof.
October 25, 2023, 03:06:54 AM
Quote
Militant groups use different methods to move money, including cash, banks, shell companies and charities, and informal financial networks. Crypto is a small part, experts say.
So how dare they blaming it all in crypto?
I remember when I was first introduce to this market and make a research , it turns out to be mostly called scam but when i stayed for awhile and saw how Bitcoin increasing each year? i finally realized that all of those are just a BS fud and nothing is correct.
Thats why since then what i only do is accumulate and Hold, not until Pandemic when sad things of withdrawal happens.
October 25, 2023, 02:41:39 AM
The reason why they want to paint crypto as a funding source for terrorism is because they cant really control in. BUT in order to add more controls/rules for crypto they want to have a reason and theres no easier exlanation than terrorism/money laundering.
In reality, vast majority, if not pretty much all of terror financing is done using the USD.
In reality, vast majority, if not pretty much all of terror financing is done using the USD.
October 25, 2023, 01:46:52 AM
And so what?
Why mind what haters think in the first place? These so called haters have no proof of the fact that Bitcoin is involved in illicit acts.This is not to say that Bitcoin is not used in some illicit acts as Bitcoin is a currency or asset per say so it can be used for whatever transaction or reason.however this reasons depends on the user.the point is Bitcoin is just a currency but it should not be encouraged to being used for illegal or illicit transactions.
Don't forget to keep your keys safe 😁
Why mind what haters think in the first place? These so called haters have no proof of the fact that Bitcoin is involved in illicit acts.This is not to say that Bitcoin is not used in some illicit acts as Bitcoin is a currency or asset per say so it can be used for whatever transaction or reason.however this reasons depends on the user.the point is Bitcoin is just a currency but it should not be encouraged to being used for illegal or illicit transactions.
Don't forget to keep your keys safe 😁
October 25, 2023, 01:37:41 AM
Like seriously, I believe it's easier to track down any terrorist transactions on the block chain because every transactions leave traces behind, a smart terrorist will stay away from block chain transactions, they can always be caught compare to using Fiat to carry out their dirty funding and co.
Those who are saying things about crypto have no knowledge about the technology, it's easier for criminals to try covering their transaction on the block chain with the privacy tools but it's still not impossible to get a hold on them, I wonder why those in power are feared about it.
I don't entirely blame them, because if there is really a way that terrorists can fund their goals without anyone knowing then it's generally bad for the world, attacks will take place when least expected, and many lives will be lost, it's ok to say that people are in fear of what may happen, but I will still stand on my fact that nothing is really hidden on the block chain.
Those who are saying things about crypto have no knowledge about the technology, it's easier for criminals to try covering their transaction on the block chain with the privacy tools but it's still not impossible to get a hold on them, I wonder why those in power are feared about it.
I don't entirely blame them, because if there is really a way that terrorists can fund their goals without anyone knowing then it's generally bad for the world, attacks will take place when least expected, and many lives will be lost, it's ok to say that people are in fear of what may happen, but I will still stand on my fact that nothing is really hidden on the block chain.
October 25, 2023, 01:21:54 AM
I think it is terrible that so many opportunists are trying to throw mud on crypto just because they are bitter from missing out on becoming Bitcoiners. The terrorists best friend is cold hard cash. Paper money. In other words, paper strips can be taken advantage of by criminals much more easily and they are way more suited for nefarious and anonymous purposes than Bitcoin or any crypto, really. So the argument of crypto being used in terrorist financing is laughable.
We as a community should crack down harder on the haters. Otherwise unknowing people might actually believe in their lies. If we do not then we will only serve to stagger the progress of Bitcoin adoption by giving the haters free reign...
We as a community should crack down harder on the haters. Otherwise unknowing people might actually believe in their lies. If we do not then we will only serve to stagger the progress of Bitcoin adoption by giving the haters free reign...
October 25, 2023, 12:55:26 AM
But here's the catch, those sneaky terrorists probably already know this stuff and might be one step ahead, making it harder for the government to trace them. Sure, the exchange can freeze the funds, but finding out who owns that wallet? Now that's the real challenge.
Even the terrorist is using many privacy tools, there's no guarantee he can stay 100% anonymous because he might leave his trace somewhere e.g. using someone node, not using Tor, data breach etc. Bitcoin is using public blockchain and everyone can easily trace the source, the government not want to admit if banks are private and no one knows the activity behind banks except the internals.
October 25, 2023, 12:44:30 AM
It's a fact that cryptocurrencies are sometimes used for terrorist financing and other illicit purposes, but that doesn't necessarily make crypto the primary player in such activities. According to Chainalysis, only "1% of the entire crypto market is involved in illicit activity." This is because there are alternative sources for these funds that are much larger than the crypto space.
So how dare they blaming it all in crypto?
Additional information related to that ;
Also, the article pointed out that setting up a cryptocurrency wallet is a piece of cake, and it's pretty tricky to trace the owner, even though all transactions are right there on the blockchain, which is like a permanent public record. To dig up who's behind it all, they'd need an account on one of those fancy, government-regulated 3rd party exchanges. That way, the government can just tell them to cooperate with the investigation. But here's the catch, those sneaky terrorists probably already know this stuff and might be one step ahead, making it harder for the government to trace them. Sure, the exchange can freeze the funds, but finding out who owns that wallet? Now that's the real challenge.
SOURCE --- https://economictimes.indiatimes.com/news/defence/explained-cryptos-role-in-terrorist-financing/articleshow/104645274.cms
Quote
Militant groups use different methods to move money, including cash, banks, shell companies and charities, and informal financial networks. Crypto is a small part, experts say.
So how dare they blaming it all in crypto?
Additional information related to that ;
Quote
WHAT ABOUT OTHER FORMS OF ILLICIT FINANCE?
Terrorist financing is a small part of the illicit uses of crypto, which include scams, ransomware and theft.
Crypto crime hit a record $20.1 billion in 2022, Chainalysis said, calling this a lower bound estimate. That figure excludes when cryptocurrencies are the proceeds of non-crypto crimes such as payment for drugs.
Cryptocurrency theft via cyber attacks is also a significant source of funding for North Korea, according to UN reports.
Some banks in the UK have curbed customers' access to crypto because of a rise in crypto scams.
Terrorist financing is a small part of the illicit uses of crypto, which include scams, ransomware and theft.
Crypto crime hit a record $20.1 billion in 2022, Chainalysis said, calling this a lower bound estimate. That figure excludes when cryptocurrencies are the proceeds of non-crypto crimes such as payment for drugs.
Cryptocurrency theft via cyber attacks is also a significant source of funding for North Korea, according to UN reports.
Some banks in the UK have curbed customers' access to crypto because of a rise in crypto scams.
Also, the article pointed out that setting up a cryptocurrency wallet is a piece of cake, and it's pretty tricky to trace the owner, even though all transactions are right there on the blockchain, which is like a permanent public record. To dig up who's behind it all, they'd need an account on one of those fancy, government-regulated 3rd party exchanges. That way, the government can just tell them to cooperate with the investigation. But here's the catch, those sneaky terrorists probably already know this stuff and might be one step ahead, making it harder for the government to trace them. Sure, the exchange can freeze the funds, but finding out who owns that wallet? Now that's the real challenge.
SOURCE --- https://economictimes.indiatimes.com/news/defence/explained-cryptos-role-in-terrorist-financing/articleshow/104645274.cms
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