Topic: What is the fate of Scammers if bitcoin later becomes a traceable Currency. - page 2. (Read 2195 times)

Bitcoin transaction is traceable either it confirmed or not and the main problem people avoid to make transaction with bitcoin is if they mistakenly send to anther wallet or hacked then how to recover it or who will be responsible for it.
Its solution is also in pipe line but if government legalize the crypto and contract with different countries platforms that in case of hacking of losing money will co operate with officials.More innovations on its way and the scared investors will find the solution soon.

Dont be deceived by the decentralized in nature of bitcoin because Bitcoin transaction are still traceable since all transaction are ever saved on blockchain ledger and if bitcoin tx are not traceable those online previous crypto scammer who're once captured wont be and there will be no need for the use of bitcoin tumbling site.

You guys both make a good point but you're missing something because there's actually different between decentralized and anonymous and the last time i checked bitcoin is not privacy coin so we cant totally say it transaction are Anonymous which is the reason why some people make use of wallet which integrated CoinJoin and bitcoin tumbler site.
But, if all crypto to fiat exchange site integrated KYC crypto scammers can be possibly nab.

It is impossible to happen as of now, since bitcoins is made for us users to make transactions anonymously, if it will be happen many people will leave bitcoin  ,but this is just my cent right? But many will stay even though it could be traceable now since it is shown to be a good investment for everyone and it is good for long term investment too.

Fraudsters will always be where there's a herd of relaxed sheep. Fraudsters as a global phenomenon do not care if you catch someone or not. They're not afraid of prison because we think about it.
The criminal world has long understood that cyber-fraud is the fastest and safest way to make money. If they catch one cheater, the other learns from his mistakes.
They can't be frightened by the lack of anonymity.
They already, in fact, do not believe anyone, and above all, those who offer security.
They were born with the knowledge that any door with a lock on it can be opened.

Keep your keys and passwords safe.
And in today's trend - never use keys or passwords, because all devices - work not only for you, but also for someone else.

Now it is not clear who are crooks, those who are criminals by profession, or those who should be on our side?

I think the power and the criminals are on the same side now, against us.

1. Confirming news:
US authorities have been distributing a subsidized smartphone with a built-in virus

Millions of poor Americans under the US FCC Lifeline Assistance Program have received a subsidized smartphone. But the device was a surprise - its firmware has a built-in virus. This software cannot be removed because it does not have root access.

The Unimax UMX U686CL smartphone was provided as part of the Mobile Accessibility Program.


2. And the crimes are also from those we trust:
- Microsoft has been listening to and processing Skype and Cortana users' voices for years without any security measures. The Guardian was told about this by a former contractor who spent two years processing user voices using a personal laptop at his home in Beijing. He received his login and password from Microsoft via email in unencrypted form, with a very simple login and one password for everyone.

Earlier, I wrote that spyware was found on all Samsung smartphones and tablets.

One of the users of the social news site Reddit pointed to the problem. These are the Device Care features that are indeed present on the Korean manufacturer's mobile devices.

Samsung itself does not deny that the Device Care module dedicated to the device storage is used on Qihoo 360. However, the manufacturer does not explain why the software regularly communicates with Chinese servers. Qihoo 360 has previously been involved in several privacy and privacy scandals, including hidden data collection.

The source warned that giving such a questionable company access to all the data on the device is at least risky. He explained:

“The smartphone storage scanner has full access to all your personal data as it is part of the system. In doing so, under Chinese law, it must send this information to the government upon request. ”

Indeed. Illegal activities like scams and fraud in the world of cryptocurrencies will be reduced if it will be traceable because scammers will be starting to be afraid to trick other people if there is now a chance for them to go to jail. Most of us will not be afraid in investing with our money if scammers will get arrested that easily.

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Anonymity on a network means information about your IP, MAC address, IMEI of the device.
That's all or part of it needs to know in order to track you.
You go online, you do bitcoin transactions, it's actually all your device does. And that's what they're tracking.

Next, if your identity needs to be tied to the device, it's very easy to do - watching remotely the activity of the device itself, what you do on it, where you go online, what phone numbers, messengers are yours, what you write on social networks and what they write about you and so on.
All this is done not by hand, but programmatically, providing the attacker your full social profile, photos, your voice, biometric data, which you willingly give to your device, all correspondence, contacts, SMS, passwords and logins, encryption keys.
And if you need to make sure that you are behind the device, then there is hidden activity of the camera and microphone of the device.
The information is checked in the database of your registration documents, driver's license, passport.

Step by step, through your device (IP, MAC, IMEI) automatic surveillance, those who need it, will know you more than you know about yourself.

Where's the anonymity?

And crooks aren't fools. They never use the same device for all their needs.

Are you ready to change your devices, say, every week?

I'll assume that what you mean by "traceable" in fact means that bitcoin becomes somehow de-anonymized. Because as others have said, bitcoin is already traceable, it's just that linking addresses to actual people is the hard part.

This won't ever be the case given the fact that the entire network is essentially based off the premise of a pseudoanonymous system under which everyone can create and use as many addresses as they want without having to be subject to verification. For this to happen, then there needs to be a centralized entity that is doing the verification process - which we know cannot happen.

But let's suppose it does. Even then, scammers will remain scammers. Just look at the sheer amount of paypal scammers, and this kind of debunks the myth that somehow a verified payment system gives you 100% security.

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I don't know who's joining forces with whom, but I do know that the overall statistics on cybercrime are growing from year to year. There's also an increase in the theft of cryptology in dollar terms.
Success in the fight against cybercriminals, the current security system shows mainly when a robbery has already happened and you need to release updates to close the holes.
And how much data has flowed through these holes, they don't want to talk.

I know that crooks improve their skills day and night.
Also, I know there's a lot of holes that aren't told to us, that are never told.
I also know the facts that the software and the devices that we use are increasingly stealing our data, these capabilities are being built right into the factory.
So it was recently discovered (and we were told!) that all Samsung smartphones and tablets are sending our information somewhere in China.
And now the question to people who tremble with their wallets, and to hardware wallets:
- do you have complete confidence in the devices you plug your hardware wallets into?
- do you use Samsung products?

Does one Samsung work for the Chinese government?
Is the Chinese government the only one who does it?
Who knows, is silent.

And I know that we are all in great danger, year after year - more and more can not trust any manufacturer.

Of course, if someone sends Bitcoin from one wallet to another and these funds remain motionless, then in the absence of other transactions, no one will establish the owners of these wallets. Also, if someone steals the cryptocurrency and transfers it to a new wallet and it remains without movement, the thief can not be installed. However, cryptocurrency is not stolen so that it is without movement. Most often, thieves and scammers lack patience and they make mistakes. Now states are joining together to fight crimes related to cryptocurrency. This is quite natural.

Scammers will definitely find their place behind the jail if ever bitcoin becomes a traceable currency. On the other hand, we cannot simply allow that to happen because most of the investors here wants to be anonymous with their transaction considering the fact that they are holding large amount of money which can trigger some people to hunt them down and rob them. Being a non-traceable currency offers them safety too but at the same time, scammers can freely roam around and steal other people's money.

As well they can use mixers + crypto-to-crypto exchanges (which do not require KYC).

But anyway, BTC is traceable. The more transactions on the wallet, the easier it is to track its owner. People using BTC for criminal activities on the Silkroad website learnt that in a harsh way.

Fraudsters are always more advanced and more inventive than their victims.
When discussing the issue of tracking, I would not worry about scammers, they will get out in 10 cases of 11, but I would really worry about tracking large or interesting Bitcoin owners, decent people.
 Yesterday, VPN and TOR were in the arsenal of our anonymity tools. But at the end of last year, it became known (this does not mean “appeared” as a phenomenon) that there are technologies not only for tracking users of these technologies, it’s half the trouble, but there is the possibility of “listening” and phishing attacks on these users.
The truth is that a fraudster almost always provides for such an option, and we do not always. We always hope for technology, and what happens inside these technologies - we don’t know or we don’t know everything.

I think scammers don't sell the results of their fraud through exchanges that use KYC. Maybe for security reasons, they will move to a different address and then sell it on P2P exchanges like local bitcoin.

You are lacking a little bit of imagination, it is true that is impossible to just look at the blockchain and put a name and a face behind an address so it is impossible in theory to discover the identity of the person behind that address with just the blockchain.

But investigators are going to try to find every single account that used that address at some point, they can also use very advanced tracking techniques that can help them to monitor your activities and if at any point you made a mistake and you revealed your identity then they can match who you are and the addresses that you use.

By trace, OP meant, finding the details of owner of any account. From 1 account money was sent into another. Suppose mr x sent money to mr y. Who is mr x? Who is mr y? No one knows. Unless y send funds into centralized exchanges. What if they sent money into btc mixer? What if they trade for p2p?
And no one really care if btc amount is small. We only caught few hackers.

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Any owner of the bitcoin can be tracked. His IP address is calculated just because he is using the network.  It's network laws, they don't care if you use a bitcoin or just navigate through sites.
Yeah, not everyone can do that.
It's just a matter of price, as far as the person who wants to calculate you needs it.
When you ask for information using the KYC/AMLP/FATF rules, you only do it because it's the easiest way to get information.
But it's not the only way to find a user.

Of course you can! The more transactions on a single wallet, the easier it is to track scammer. Already many of silk road users participating in illegal activities are facing charges or already had been imprisoned. And yes, KYC/AMLP/FATF norms require verification for withdrawals, and already there had been cases where scammers wallets on some big exchanges had been suspended, as the stolen crypto was traced there.

As well, this is one of the reasons why officials in many countries are gradually starting to fight privacy coins.

It could probably possible, but one of the things we could forget is the essence and the sole purpose why Satoshi develop the kind of system we have right now which I highly adore the most. This is the essence of being personally responsible, in blockchain and bitcoin, no other third parties could tell us what to do, or handle our money, but we have all the capabilities to do everything we want, which is in fact a good practice to become independent. Tracking transaction and determining who's responsible for an act even if it is aimed to track scammers will just wipe this freedom we have in cryptocurrency space.

I don't think that will ever happen, as Bitcoin is a decentralized network, so you can't trace the scammers. If it becomes possible, I think Satoshi Nakamoto needs to come back! Everyone saying Blockchain can track the transaction records but I don't know how you get that man's address, identity through the transaction! No way at all. If every exchange asks KYC for withdrawal money then maybe scammers will not fool us anymore.