Topic: Some gamblers have been arrestes in Bangladesh for money laundering through btc - page 2. (Read 574 times)
July 29, 2020, 01:54:39 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 ?
July 29, 2020, 10:29:56 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.
July 29, 2020, 03:31:04 AM
Couple of days ago, a group of fraud from Bangladesh made around $250000 within 2 months through influncing people to gamble in their gambling sites/apps and later scam or something like that, have been arrested by police. From the amount they made, they had to sent a lot of funds to Ukraine where the leading people live. They used bitcoin to send the money. Police said they are investigating more to find everyone related to the gang and/or who have helped them directly or indirectly.
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.
Since Bangladesh is not yet legalizing Bitcoin ok their country then their people has no rights to use it. All we need to do is to promote Bitcoin all over the world so that every country can legelize it and if it happens, the mass adaptation will occur and it will make Bitcoin as the new financial system. If something like that happens, all country will be having a good state and those poor countries will be having a better life. We also need to wait until our country legalize Bitcoin or else we can get caught and out into jail. 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.
July 29, 2020, 03:16:06 AM
Be careful when you deal if it's illegal in your country. I can't understand why some countries still say that bitcoin is illegal if they can actually help their citizens on this. What if the person you will deal with is someone from the government and they just did that for entrapment?
Can't you trade on exchanges as your main option than to trade with others? I think that's a safer option.
Can't you trade on exchanges as your main option than to trade with others? I think that's a safer option.
It will be illegal if the government is against it, perhaps, it doesn't necessary mean that if bitcoin can help the citizens, then it will be automatically allowed to be used. Government is always in front of this, either they will see bitcoin and crypto as a functional and helpful technology, or a threat to the economy. Stll, the jurisdiction will be followed.
In our country, cryptocurrency is quite regulated especially in local exchanges that are mostly monitored. There's no doubt the fees are significantly higher because we might not know, we are already paying taxes just by conversion.
July 29, 2020, 03:03:17 AM
This isn't the first time an arrest happening for money laundering in Bangladesh. Earlier for using bitcoin few of them got arrested. Bangladesh has got high growth rate in the previous years, and the government believed that the usage of cryptocurrencies might affect the growth. Based on the same the government complete ban of cryptocurrencies within the country. Someday this scenario will change, even now a transaction might be misinterpreted as money laundering service.
I don't understand what you mean by saying "government believed that the usage of cryptocurrencies might affect the growth" how can the usage of btc affect the growth of a country! Or Do you mean the economic growth of the country, maybe the use of btc in bad activities like money laundering can affect the economic growth of Bangladesh, well maybe that is a possibility but money laundering are also done in fiat too, and this has been on for a long time, still the economy growth moving accordingly, I also think with time this will change and crypto will be seen differently.
July 28, 2020, 05:22:02 PM
Such act contributes to the reason why people see cryptocurrency as a currency used by scammers. The saddest part of it is that considering the fact that bitcoin has to do with anonymous identities, there's no way we can stop specific people (scammers, kidnappers, etc) from using the currency. However, I'm at to know that this set of people were finally caught.
July 28, 2020, 09:50:45 AM
Couple of days ago, a group of fraud from Bangladesh made around $250000 within 2 months through influncing people to gamble in their gambling sites/apps and later scam or something like that, have been arrested by police. From the amount they made, they had to sent a lot of funds to Ukraine where the leading people live. They used bitcoin to send the money. Police said they are investigating more to find everyone related to the gang and/or who have helped them directly or indirectly.
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.
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.
First of all selling btc using facebook is very risky as its social media and crime unit easily trace you. On the other hand you using mobile phone and if i don't mistake all mobile SIM now registered by individually by NID(National Identity Card). So this is very easy to catch you as BTC or other crypto currency strictly prohibited by your government. If i don't mistake police are catching those people who made fraudulent with people by BTC and money. So i suggest you not don't make any transaction via social media.
thanks.
July 28, 2020, 09:33:38 AM
First, I think you should change the title of the thread BTC instead of bitc.
2nd, it would be nice if you put some link on the source of this news or story so we can read the full report about this particular news.
Thank you a lot for pointing the mistake. I didn't notice that until now. I would share a link to the source of the news if it was written in English but it's written in Bengali which makes no sense to share here because you know there are very few users from Bangladesh who are active in this section. 2nd, it would be nice if you put some link on the source of this news or story so we can read the full report about this particular news.
July 28, 2020, 09:25:14 AM
Countries should make it legal so that the government could also earn through the taxes and this will give them another source of revenue. Just like countries do allow gambling in their country because it adds to the revenue and so government should move towards making it legal and can frame the regulation around it. But unfortunately, people must stay away from it as it is not what government encourages it.
July 28, 2020, 09:18:21 AM
As far as I know there are still a lot of people like you in your country and I guess you should be really careful. I read an article that says the government are trting to warn people about using it and finding users of it since it is banned. You can go to jail but as long as you keep yourself hidden, I guess you are fine but you should be wary of the consequences that might happen.
Bitcoin is banned in your country but I can't say you should'nt do that but since we are in times of pandemic, all we can say is that, desperate times call for desperate measures.
Bitcoin is banned in your country but I can't say you should'nt do that but since we are in times of pandemic, all we can say is that, desperate times call for desperate measures.
July 28, 2020, 09:01:09 AM
It depends on how much BTC are you selling them and your skill to hide your identity by using a 3rd party transaction method like mixers to hide your real BTC address. Sometimes authority can track you easily when you only use some the same address all the time. but if you only sell a little amount of BTC, I think you are safe from being followed or tracked because what the authorities aim is for those who sold them big amount of BTC. Consider yourself lucky for now but next time you should know how to properly hide your real BTC address when doing unknown transactions with others.
July 28, 2020, 05:56:26 AM
Couple of days ago, a group of fraud from Bangladesh made around $250000 within 2 months through influncing people to gamble in their gambling sites/apps and later scam or something like that, have been arrested by police. From the amount they made, they had to sent a lot of funds to Ukraine where the leading people live. They used bitcoin to send the money. Police said they are investigating more to find everyone related to the gang and/or who have helped them directly or indirectly.
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.
Looks like the arrest for gambling cases over crypto is happening nowadays?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.
recently there is a gambler that lose million dollars of His company's money and Got arrested.
Maybe these gamblers know nothing about Mixer?thats why they got caught ?
July 28, 2020, 05:10:23 AM
As long as you are not involve in using bitcoin for a shady business, I don't see reason why you should be fearing anything. Those people you mentioned committed crime and they are being caught. They are part of the few people giving bitcoin a bad name. When you sell to local exchangers make sure you are selling to people with legitimate business about digital currency. I also sell to local exchangers here and they are registered business owners that I've known for almost a decade
July 28, 2020, 03:00:57 AM
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.
Selling to unknown people actually puts you at risk which is one of the reasons why the noose around KYCs is on the rise. Its not always about stifling freedom but sometimes its about protecting that freedom which we have all come to enjoy. A lot of people have entered the crypto industry and continued to use the technology for nefarious activities and that has made the work of law enforcement more difficult which is why when they manage to get one or two people, they tend to use it as a means of sending message rather than punishment.
As a way to stay out of trouble, the best approach is either you transact with people you know or carry out transactions on reputable platforms although the rate might be lower than selling directly but its way better than having a run with law enforcement agents.
July 28, 2020, 02:44:23 AM
Couple of days ago, a group of fraud from Bangladesh made around $250000 within 2 months through influncing people to gamble in their gambling sites/apps and later scam or something like that, have been arrested by police. From the amount they made, they had to sent a lot of funds to Ukraine where the leading people live. They used bitcoin to send the money. Police said they are investigating more to find everyone related to the gang and/or who have helped them directly or indirectly.
First, I think you should change the title of the thread BTC instead of bitc. 2nd, it would be nice if you put some link on the source of this news or story so we can read the full report about this particular news.
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.
Based on the story.
I think you are not risking here, that's how p2p is done, and buying and selling of bitcoin is not illegal as bitcoin itself is not legal.
I know you are concern on the money laundering, but it wasn't you who are laundering money when you buy or sell from someone as you are not in the list, unless you are suspected to, but you will be under investigation and if they don't find any evidence, you'll be safe so there's no need for you to worry.
I think you should read more about what is money laundering.
here : https://www.investopedia.com/terms/m/moneylaundering.asp
July 28, 2020, 01:38:50 AM
Honestly you don't have to worry about selling Bitcoin to your local market there's nothing wrong on selling Bitcoin directly since most of the governments doesn't have such law yet and besides Bitcoin might not be that anonymous but the chance of tracing the coins would be really to difficult.
Just make sure that the transactions you were conducting is fully legal and just a selling bitcoin and not selling illegal stuff or something.
The problem is that most local market is not fully established, I do not think that we should be worried that we are part of a laundering group if you are just a customer. The problem with these laundering group is that most of them will still be there because bitcoin will never compromise just for that, there are a lot of solutions that can be used to address this problem and one of them in my opinion is invidual vigilance which I find most effective because there will be people that will be commiting money laundering and all kinds of fraud but I do not think they will operate for long if there are people willing to report them to authorities, let's admit it that not every fraudster can be apprehended if we were to only depend on the authorities, they too have limits and they are also human but if we can atleast help them pinpoint the problem by tipping anonynously then we can atleast make crime reduction much more efficient. Just make sure that the transactions you were conducting is fully legal and just a selling bitcoin and not selling illegal stuff or something.
July 28, 2020, 01:17:54 AM
Honestly you don't have to worry about selling Bitcoin to your local market there's nothing wrong on selling Bitcoin directly since most of the governments doesn't have such law yet and besides Bitcoin might not be that anonymous but the chance of tracing the coins would be really to difficult.
Just make sure that the transactions you were conducting is fully legal and just a selling bitcoin and not selling illegal stuff or something.
ya.ya.yo!
Just make sure that the transactions you were conducting is fully legal and just a selling bitcoin and not selling illegal stuff or something.
ya.ya.yo!
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July 27, 2020, 09:21:23 PM
I heard that the group is partner of the scam shit binany and they have scammed a huge sum and paid part of the amount to the head of binany. This is really a stupid happening for we bitcoin users. Anyway, if you want to sell your BTC at any time, you may reach to me- Sell Bitcoin in Bangladesh
I can purchase your BTC any time if you are flexible with my terms and condition. Be alert and stay safe, dude.
I can purchase your BTC any time if you are flexible with my terms and condition. Be alert and stay safe, dude.
July 27, 2020, 09:00:13 PM
You are just selling BTC to anyone interested. You are not an investigator on the people you sold BTC to. Just like a money exchanger accepting clients without necessarily investigating whether they are going to use it for crimes or not. How would you know?
Now this poses a little more problem. But since you're probably not involved in the specific crime narrated in the OP, this will just serve as a sort of a warning. The next time around, you should not make transactions involving third parties such as Facebook where some of your personal information are stored. Make deals involving Bitcoin in ways which do not involve even a little information about you.
Selling BTC to unknown people should never be a problem. This is what Bitcoin is all about. You need not know the owners of addresses you are sending Bitcoin to. On your part, make sure you are not using a single Bitcoin address over and over again.
July 27, 2020, 06:59:24 PM
Increasingly, criminals are now using Bitcoin for money laundering, so we should do Bitcoin transactions on credible exchanges.
So you can avoid transactions with criminals, although there is still the possibility of criminals also doing Bitcoin transactions
on trusted exchanges. But at least we can minimize the risk, and I appreciate the performance of the Bangladesh police with
managed to catch criminals who have harmed several people by committing fraud.
So you can avoid transactions with criminals, although there is still the possibility of criminals also doing Bitcoin transactions
on trusted exchanges. But at least we can minimize the risk, and I appreciate the performance of the Bangladesh police with
managed to catch criminals who have harmed several people by committing fraud.
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