Topic: Some gamblers have been arrestes in Bangladesh for money laundering through btc (Read 571 times)
August 01, 2020, 03:00:45 AM
BTC could be very suitable for money laundering but still fiat is still much more popular for that
August 01, 2020, 01:04:01 AM
OP, from what I read those who were arrested were not for using BTC but because of money laundering and fraud cases through their gambling sites. What you have to concern is the crypto ban in your country is use crypto as payment method to buy or sell goods only or all aspects, mean that citizens are can't from having crypto, if the prohibition is in having crypto then it can be a problem for you and also people who have it.
July 31, 2020, 09:26:58 PM
I sometimes sell BTC in local market through the help of some facebook group. I never felt that I am in risk but for the first time, it seems like we are actually risking ourself a lot of by selling BTC to unknown. What if they get a trace of ourself and link us with such transactions? Would we be also get punished? For your info, we had to use our mobile number to continue dealing.
As long as you are not doing anything illegal, I don't think you can get arrested that easy. Yes, if you are not doing any illegal thing with your crypto, then you are good to go.
As far as the law in my country, using Bitcoin is not protected by the government and it's not banned.
That's the important thing, if isn't illegal from your place then there's no chance of punishing you if you are not doing anything that against the law.
It means that if something happens when you are using Bitcoin, you will not be protected at any kind, it's not that you will be arrested by using Bitcoin. Unless the law of Bitcoin is different in your country?
You have to determine this thing, you have to understand the risk and make sure that you fully understand everything from this system.
July 31, 2020, 08:57:04 PM
I sometimes sell BTC in local market through the help of some facebook group. I never felt that I am in risk but for the first time, it seems like we are actually risking ourself a lot of by selling BTC to unknown. What if they get a trace of ourself and link us with such transactions? Would we be also get punished? For your info, we had to use our mobile number to continue dealing.
As long as you are not doing anything illegal, I don't think you can get arrested that easy. As far as the law in my country, using Bitcoin is not protected by the government and it's not banned. It means that if something happens when you are using Bitcoin, you will not be protected at any kind, it's not that you will be arrested by using Bitcoin. Unless the law of Bitcoin is different in your country? July 31, 2020, 06:58:12 PM
why be afraid if you do not do it.
I think you have miss something and this is what he says at the first page. I forgot to mention that BTC itself is illegal in our country which is the major reason of my fear. I sometimes sold BTC to unknown guy and that's what I'm fearing of. If it was legal, I would have nothing to fear at all.
And probably he's not doing anything bad unlike the others and to worried about but since it was illegal for their country, no one could ever feel such worries and fear since their authorities are aggressive in implementing the law. Of course, all illegalities just like money laundering is a need to stop and punish those involve.@OP, will it hopes that your Leaders will change their minds and think good for Bitcoin adoption. Though they are apprehended those illegalities but not in a way to generalize it and arrest those Bitcoin holders/investors who did nothing bad to it. Of course, I feel the same if that so.
It is only a matter of time to change their views on bitcoin or crypto in general. If their government will see those advanced/progressive countries that are openly accepting crypto, why not them? For those users who are residing on that country, they just need to be extra careful in dealing with crypto for the moment. Make sure that they are dealing with legit individuals to avoid getting ill-gotten crypto.
July 31, 2020, 06:57:23 PM
This is irrelevant case to your case, probably if they sent Bitcoin to Ukraine where they live it should by bulk and not a small number of transactions. But I don't know if the investigator will know the actual sending address of scammer since they don't know the transaction(I assume). So, there's nothing to worried about because Bitcoin transactions from the unknown buyers will not also directly linked to your personal information.
That's right. The case of those illegal activities and transactions are already in different case as of yours because it is not already your concern on who will be receiving the transaction because it is not already into your attention into whom you sold your Bitcoins and into what purpose your client would use such. Also, I doubt that it will be linked or traced toward you for the reason that investigators will surely focus on high amounts of suspicious transactions that would lead to those illegal transactions that are made from illegal activities.
That is why whenever you get into the online world most specially in this industry we are all into, better take precautionary measures to keep your private informations safe and that you will not be victimized by any hackers, scammers and other related illegal doings in this vast world of internet.
Just curious if how you convert your Bitcoin into the fiat since it is illegal in your country. I suggest always be careful who you are dealing on the internet. Better to chose p2p exchange or you can exchange here in the forum.
I do also got curious about how the OP have deal on using cryptocurrency despite of the fact that it is illegal for their country to use such. It is kinda risky because you are bumping against the government law and that might cost you into some trouble so better be safe on doing because if you might not be punished for transacting into illegal personnel, you might caught up abiding the law of your own country.
July 30, 2020, 09:53:41 AM
why be afraid if you do not do it.
I think you have miss something and this is what he says at the first page. I forgot to mention that BTC itself is illegal in our country which is the major reason of my fear. I sometimes sold BTC to unknown guy and that's what I'm fearing of. If it was legal, I would have nothing to fear at all.
And probably he's not doing anything bad unlike the others and to worried about but since it was illegal for their country, no one could ever feel such worries and fear since their authorities are aggressive in implementing the law. Of course, all illegalities just like money laundering is a need to stop and punish those involve.@OP, will it hopes that your Leaders will change their minds and think good for Bitcoin adoption. Though they are apprehended those illegalities but not in a way to generalize it and arrest those Bitcoin holders/investors who did nothing bad to it. Of course, I feel the same if that so.
July 30, 2020, 09:30:07 AM
I’m pretty sure law enforcement wouldn’t make such assumptions although it really happens sometimes. You wouldn’t get tagged as some accomplice since you wouldn’t really give much info on a P2P trade, except of course if people really asked for some info for trust purposes. It’ll be quite hard to pin someone down unless evidences are stacked up against them, so you’re in the clear if you only did a one-time trade with someone you don’t really know.
Staying vigilant against such things is good, and we must exercise it everytime to avoid negative consequences brought forth by being lazy to research things.
Staying vigilant against such things is good, and we must exercise it everytime to avoid negative consequences brought forth by being lazy to research things.
July 30, 2020, 07:53:01 AM
why be afraid if you do not do it.
although your data is there, you can explain where you got bitcoin and how you exchanged it with strangers through the history of Blokchain transactions.
the regulations there
making everything bitcoin dangerous when in fact the actions of those who abuse it are wrong.
although your data is there, you can explain where you got bitcoin and how you exchanged it with strangers through the history of Blokchain transactions.
the regulations there
making everything bitcoin dangerous when in fact the actions of those who abuse it are wrong.
July 30, 2020, 12:59:50 AM
You need to remember that after all, most of the funds are laundered using cash, so crypto is only a small part of this shadow side.
but the problem is, people(except for people who have knowledge about bitcoin) won't it that way, in their point of view bitcoin is the reason why the laundering happened or what made the scamming possible.
July 29, 2020, 06:37:14 PM
Is there a source ? if its true then it will have a significant value to Institutional Investors and governments knowing that you can retrieve your money in Bitcoin. Im just surprised that this scammers didn't know that Bitcoin is not fully anonymous and it's traceable through the blockchain that is open to the public.
July 29, 2020, 06:32:24 PM
Another story about Bitcoin is used for illegal activities, I am very sad to know this. Therefore I am very happy heard
that people who use Bitcoin for money laundering can be caught by police in Bangladesh. Negative news like this can
make new investors panic, so it can sometimes affect the price of Bitcoin. I hope in the future people can use less
Bitcoin for money laundering.
that people who use Bitcoin for money laundering can be caught by police in Bangladesh. Negative news like this can
make new investors panic, so it can sometimes affect the price of Bitcoin. I hope in the future people can use less
Bitcoin for money laundering.
July 29, 2020, 06:31:50 PM
OP we aren't risking. What about if you own supermarket and a person which in reality is murderer, buys something and pays you with money that he got for murder. Will police charge you? No. Same applies to bitcoins. See the amount of bitcoins that move in dark web and then think about how many people would have been in touch with those funds. You aren't a problem, for them, problem is that person who was laundering and if you are clear in this task, then you can feel safe.
What do you mean in illegal? Then why do you own it? Will you be punished for owning bitcoin? Is it the same as owning banned substances? Or why are you afraid? Do police raids your computers with the fear and cast doubt in it? No??? Then no problem.
What do you mean in illegal? Then why do you own it? Will you be punished for owning bitcoin? Is it the same as owning banned substances? Or why are you afraid? Do police raids your computers with the fear and cast doubt in it? No??? Then no problem.
July 29, 2020, 06:17:21 PM
To my knowledge, Bangladesh is one of the few countries in Asia that has declared Bitcoin illegal. Not only Bangladesh but also India is currently facing a lot of problems with cryptocurrency and bitcoin. If Bitcoin and cryptocurrency are declared illegal in India, the same situation will start in India. If the police think it is necessary can check your message and your call record at any time. Once Bitcoin is legalized, there is no problem. Who knows if it will ever happen in Asian countries ?
^ Legalized? Never that bitcoin becomes legalized in any country. Probably you meant is bitcoin adoption but not in legalization because that is impossible to happen that bitcoin will become legalized. Different countries have different law and we can't blame this country Bangladesh that the banned using bitcoin. If you are using even though you are not doing any illegal, that is considering you are not abiding the law. That is very risky in your part if you keep using bitcoin even though you know that it is banned in your country and for sure there will be a punishment for that. July 29, 2020, 05:42:50 PM
We can't argue that thing because it is illegal and the authorities will never tolerate such activities and they are doing what it the right thing to do. But the bad thing is that they are using crypto for the seek of their illegalities and hide their activities to keep anonymous. I'm not sure how they trace them? Maybe it something to say that we are not anonymous anymore?
Maybe a link of that particular will something to help to get it clear for the readers. Because we can just go into speculations that using crypto isn't anonymous anymore, instead, we all can be traced if someone would do for it and can identify our identity which I think is not.
Maybe a link of that particular will something to help to get it clear for the readers. Because we can just go into speculations that using crypto isn't anonymous anymore, instead, we all can be traced if someone would do for it and can identify our identity which I think is not.
July 29, 2020, 04:57:22 PM
Better be safe than sorry since bitcoin is illegal in your country it is best to be careful in doing your transactions. A warning to the users that the government is on the look for those who use bitcoin. As others advise there’s a way on selling bitcoin by using other exchange.
July 29, 2020, 03:04:00 PM
I want to read the news. is the any source? I mean online news link or something like that? because I didn't hear this kind of news. If you provide me the link it will be great. Thanks
Actually price is low. If I sell my btc to the reseller they give us best rate even some time more than expected price. Also easy to use and faster. For safety reason these sites too good.
I sometimes sell BTC in local market through the help of some facebook group. I never felt that I am in risk but for the first time, it seems like we are actually risking ourself a lot of by selling BTC to unknown. What if they get a trace of ourself and link us with such transactions? Would we be also get punished? For your info, we had to use our mobile number to continue dealing.
Why dont you guys use non-KYC P2P alternatives like LocalCryptos.com, local.Bitcoin.com or HodlHodl.com? The first two seems to have many offers from Bangladesh already... July 29, 2020, 02:17:10 PM
To my knowledge, Bangladesh is one of the few countries in Asia that has declared Bitcoin illegal. Not only Bangladesh but also India is currently facing a lot of problems with cryptocurrency and bitcoin. If Bitcoin and cryptocurrency are declared illegal in India, the same situation will start in India. If the police think it is necessary can check your message and your call record at any time. Once Bitcoin is legalized, there is no problem. Who knows if it will ever happen in Asian countries ?
I know that Bangladesh have declared bitcoin illegal but the money laundering culprits might not have been caught dealing with bitcoin but they might have arrested for running illegal gambling centers and they might have found bitcoin in their possession. The situation in India and from what i heard is that it is a democracy and if you are not doing anything illegal why would any police officials check your message and call records. 
July 29, 2020, 01:57:32 PM
All of the countries in the world where Bitcoin has been declared illegal face money laundering cases in this way. Since the government does not receive any tax as a transaction in all these cases, the government always follows it. Police in all countries want to always arrest those who deal with this type of bitcoin or cryptocurrency. If this is the case in your country then you must be careful or leave it at that. Otherwise you may have to stand in the way of the law at any time.
July 29, 2020, 01:56:06 PM
Bangladesh has long since declared Bitcoin illegal from their government to their country. If you have Bitcoin then they give Bitcoin the same punishment as having another illegal thing like drug or alcohol. Here the money laundering case is very bad. In a word, it means tax evasion or theft of the government. In all these cases, the police do not compromise. The police can track your phone calls at any time if they want. I would say be careful from now.
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