Topic: Some gamblers have been arrestes in Bangladesh for money laundering through btc - page 3. (Read 571 times)
July 27, 2020, 06:39:41 PM
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.
July 27, 2020, 06:38:14 PM
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.
July 27, 2020, 06:27:36 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?
Why? Did you give your credentials or information to them before selling your btc? Or just a codename and your btc address? But how come you have cryptoexchanges that you can use in Bangladesh? If it is totally illegal, they won't allow these cryptoexchanges to operate?
https://www.bitrawr.com/bangladesh
July 27, 2020, 05:20:10 PM
Could it be something bigger than this? Kind of a global network of fraud or scammer? If it is about money laundering globally, I think it may be done structurally and generally. Respect for all the police that can reveal this kind of criminals. As we know, fraud/scammer systems are commonly very complicated to reveal. And if they are arrested under the law, the police can also reveal more to the people related to them.
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.
Of course, they can reveal more people in relation with them. And if they can track you, do you have any evidence that proves that you are only selling BTC to someone on Facebook? If you have it, you may not worry about it because you may be excluded as fraud systems. 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.
It depends on what kind of law in your country about using Bitcoin. I think that many people in your country actually have been involved with crypto and your government have known about it. I cannot decide what kind of punishment they will give. But, as long as you use it not for criminals and you can prove it, you may be safe. Pray for it. 
July 27, 2020, 04:37:06 PM
Include also the LocalCoinSwap exchange, the KYC thing is optional and it is fully operated on the country of Bangladesh.
Back to the OP situation, I guess you have nothing to worried about because bitcoin transactions won't able to reveal your real identity. That is why most usually scammers did not get caught by the authorities because of being pseudonymous anonymous in every data have.
That's a big problem if your country banned bitcoin and you are still using it even it is banned, sounds like, you are ban evading.
Back to the OP situation, I guess you have nothing to worried about because bitcoin transactions won't able to reveal your real identity. That is why most usually scammers did not get caught by the authorities because of being pseudonymous anonymous in every data have.
That's a big problem if your country banned bitcoin and you are still using it even it is banned, sounds like, you are ban evading.
July 27, 2020, 03:01:21 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.
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...BTC: https://localcryptos.com/Bitcoin/Bangladesh/
BCH: https://local.bitcoin.com/offers/Bangladesh/
ETH: https://localcryptos.com/Ethereum/Bangladesh/
LTC: https://localcryptos.com/Litecoin/Bangladesh/
If you are a pro, try https://bisq.network though.
For your kind information I tried to sell my bitcoin to one of the localbitcoin buyer. But he asked my passport and NID copy to verify my self. Then how this a non-kyc platform I don't know. Also, I don't think the rate of the loaclbitcoin is fair enough. There is always a big difference from the market rate.
July 27, 2020, 02:45:46 PM
I also read the article today on a online news journal. I'm also from Bangladesh, I also use the same method to sell the bitcoin or eth if I ever need money. Last a year a group of people was arrested for selling and buying crypto if you remember. I used to sell my bitcoins to them after that news I was so afraid that I had to deactivate my facebook profile to keep myself safe. When the situation came to normal I came back to facebook.
So, again with this case I don't think anything will happen to people like you and me who used to sell a small ammount of btc to them. If the worst happens we may asked some questions from them nothing else.
BTC: https://localcryptos.com/Bitcoin/Bangladesh/
BCH: https://local.bitcoin.com/offers/Bangladesh/
ETH: https://localcryptos.com/Ethereum/Bangladesh/
LTC: https://localcryptos.com/Litecoin/Bangladesh/
If you are a pro, try https://bisq.network though.
For your kind information I tried to sell my bitcoin to one of the localbitcoin buyer. But he asked my passport and NID copy to verify my self. Then how this a non-kyc platform I don't know. Also, I don't think the rate of the loaclbitcoin is fair enough. There is always a big difference from the market rate.
So, again with this case I don't think anything will happen to people like you and me who used to sell a small ammount of btc to them. If the worst happens we may asked some questions from them nothing else.
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...BTC: https://localcryptos.com/Bitcoin/Bangladesh/
BCH: https://local.bitcoin.com/offers/Bangladesh/
ETH: https://localcryptos.com/Ethereum/Bangladesh/
LTC: https://localcryptos.com/Litecoin/Bangladesh/
If you are a pro, try https://bisq.network though.
For your kind information I tried to sell my bitcoin to one of the localbitcoin buyer. But he asked my passport and NID copy to verify my self. Then how this a non-kyc platform I don't know. Also, I don't think the rate of the loaclbitcoin is fair enough. There is always a big difference from the market rate.
July 27, 2020, 02:37:50 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.
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...BTC: https://localcryptos.com/Bitcoin/Bangladesh/
BCH: https://local.bitcoin.com/offers/Bangladesh/
ETH: https://localcryptos.com/Ethereum/Bangladesh/
LTC: https://localcryptos.com/Litecoin/Bangladesh/
If you are a pro, try https://bisq.network though.
July 27, 2020, 02:16:20 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.
I believe you would be punished if you knew you were trading with criminals and all your activity info were being tracked by your authorities. At least that is what I saw on the cases on which middlemen and traders were punished with the criminals.But on those cases there are a lot of investigations which run for several months or years, so the police can collect irrefutable evidences against the parts involved. If you are an innocent bitcoin buyer/seller there won't be any evidence to be collect, so you are safe.
July 27, 2020, 02:02:21 PM
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.
If your country passed a law regarding bitcoin as illegal then you need to be careful to whom you are dealing with as it will be a complicated case if you are dealing with a criminal. If i am dealing with bitcoin i would make sure that i am dealing with a legit exchange and then try to convert or withdraw my money so that i will not face any legal ramification and i will not dare to trade bitcoin if it is deemed illegal in my country. July 27, 2020, 12:57:55 PM
Still there are a lot of country where bitcoin is illegal crypto currency because government isn't able to trace transaction. But day by day many countries are interested to accept it because it is modern age. Developing country, like Bangladesh will accept bitcoin within short possible of time.
July 27, 2020, 12:31:43 PM
Just curious if how you convert your Bitcoin into the fiat since it is illegal in your country.
Personal contacts, community. You know I am here foe a long time now and I have built a good community. Many facebook users suggest me to other people if they look for BTC. Since I don't have to go first, I can deal easily and sometimes I got some unknown contacts too. That's what I'm fearing. I don't know whom I sold BTC.Is making transactions in facebook the way you cash out your BTC in Bangladesh?
There are some websites too. I don't trust them. Most of the times, they make an exit scam when the deal is big. And you have no way to complain to the authority since you are playing with an illegal commodity. July 27, 2020, 12:11:04 PM
I am also from Bangladesh and in our country Crypto is not legal but it is now a popular project and also in our permanent already Govt said that we are getting interested in new technologies like block chain technology.
So if you haven't sold a huge amount and to a perticular person regular then you have nothing to worry.
Remember one thing Money laundering isn't the same thing like Bitcoin selling.
So if you haven't sold a huge amount and to a perticular person regular then you have nothing to worry.
Remember one thing Money laundering isn't the same thing like Bitcoin selling.
July 27, 2020, 11:43:03 AM
Detectives would have to link you to them but if they can only find a Facebook conversation and a blockchain transaction, I think its not enough to really indict you to a crime.
But bitcoin isn't legal in Bangladesh though, that is something that might get you in trouble for some other violation.
Is making transactions in facebook the way you cash out your BTC in Bangladesh?
July 27, 2020, 11:33:29 AM
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?
And OP, just for a safer transaction avoid making a connection with a lot of people especially in facebook, just a friendly reminder.
July 27, 2020, 11:24:10 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.
All such things start to be discovered because of they scammed victims. Then they were reported by victims to police officers. Further investigations for governments caused troubles to scammers or scam projects' owners. If they run a project and don't scam anyone else, nothing wrong will find them.Make bad initiatives then get bad endings. They decide what they do and what they will receive.
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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.
Hey. The point is you sell your bitcoin, so what's wrong with it. That is your bitcoin, and you earned it officially.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.
For tradings with the others, try to trade with reputable guys only if you trade with huge amount. It will minimize your risks. Trade with reputable guys, influencers in your local communitites.
For tradings with strangers, don't trade with huge amount. If something is wrong, you won't get troubles with it.
July 27, 2020, 10:51:18 AM
You are probably safe from possible arrest. The worst that could happen to you is that your personal information will be taken by the authorities. The way I look at it, there is no reason why you should be punished along with the real criminals. I don't even think the money used by the criminals to buy BTC will get confiscated. They should focus on trying to confiscate the BTC instead.
We all know that bitcoin transactions can be tracked by the authorities because they are only stored in the bitcoin network.
So as you are not doing bad things and you're just making transactions then there's nothing to worry. You are not a criminal compared to those real criminal who are buying BTC illegally.
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?
If that so, then that's a very risky move for you. You should be careful of selling BTC because authorities can use "someone" to find those people who are making bitcoin transactions. That's the reason why KYC is really important for most of us, especially for those people who are living in a country where cryptocurrency is illegal.
July 27, 2020, 10:34:36 AM
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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.
Is it? I thought only financial institutions are barred from facilitating bitcoin transactions. It was the Central bank who issued the ban and P2P transactions aren't covered. 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.
The way I see this, it's similar to you selling a mobile phone to a criminal and not knowing that he'll use it in his criminal activities.
July 27, 2020, 10:26:05 AM
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.
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.
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.
July 27, 2020, 10:01:23 AM
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?
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