Topic: Why criminals still use Bitcoin? - page 5. (Read 968 times)

In as much as you value the anonymity brought by bitcoin, scammers do too. They prefer crypto because it'll leave no trail behind. Besides, the swiftness of big transactions and some other features are enough reasons for them to prefer bitcoin. Sadly, I doubt we can do much to help it.


No no, bitcoin may be traceable but only to a certain point. Can you identify the user of a wallet from his exchange site wallet address? Well, maybe the exchange site admins may be able. IDK

If you are a smuggler and you think by using Bitcoin for smuggling will keep you out of the administration & public eye, then you are wrong. It's true that Bitcoin is decentralized but bitcoin is traceable, if administration of a country wants then it is possible to trace every transaction. I think money laundering that is done by using Bitcoin, government are able to find out and bring it under the law at any time if they want, unless the smuggler has a good knowledge about the working method of cryptocurrency.

Criminals will find what to rely on as always. They are experts in technology usage. This is why you see them in every aspect of life. You are right too, they fall on bitcoin and rely on mixer to cover races despite the anonymity.

Fiat actually accounts for majority of illegal activities with Bitcoin being used for only a small percentage. Also cash is more readily accessible and convenient, it is also untraceable. I believe the OP was comparing Bitcoin with more privacy centered cryptocurrencies like monero and why Bitcoin is still preferred to those coins; although the article did not offer much by way of factual evidence, I would agree to it as Bitcoin is more liquid and established than most other currencies. As an enthusiast I would rather hold my assets in BTC, so same could be said for some scammers.

They would still need to use other methods to obfuscate the flow of transactions, like by using a coin mixer. Converting through an exchange despite the amount of gap time leaves a permanent print on the blockchain which can be discovered at any point in time.

On Chipmixer for example you can buy chips ranging to above 8BTC IIRC, this is a pretty large amount and if split into different chips it is relatively easy to effect a much larger amount than that.

I would like to know if the mixer service can do the mixing if the amount of bitcoins you want to mix is ​​large ?
As I recall, Mixer service can break treceability if bitcoin are in small amount but it would be difficult to do it if the transaction was larger. I read it in an article.

Indeed, I think the mixer is by far the best way for criminal to protect their privacy from being tracked. But rest assured, something that seems difficult for the moment will probably be easy to do in the future. Bitcoin is constantly being developed and so are the various services. In some cases, IP addresses can still be used as a way to track down online criminal.

Criminals use bitcoin and other altcoins because of its anonymity which is needed to pursue their illegal activities. It's the safest way for them to transact freely. Bitcoin is also accessible and convenient so it will be easy for them to use it than fiat. However, criminals will always find ways to pursue their crimes so we can't blame crypto for it.

Is it increasing in proportion with anonymous cryptocurrency? I have read one article few days ago about anonymous crypto that they are being popular & usage are increasing too; XMR, Zcash etc. I can't get the article source at the moment as I have forgotten where I read that.
It would be good to have a comparison of growth of usage between bitcoin & anonymous crypto among criminals.

I am not sure but I think bitcoin isn't involved in more than 5% of criminal activities. But haters always have been highlighting those crimes happening via Bitcoin payments. Lots of crime happening via fiat payment, some of them are caught and some of them still anonymous. We have seen lately a few criminals caught where involved bitcoin-like KuCoin hacks. But as we know, the main problem they have been getting clean coins from the mixer. Even bitcoin is traceable, but we are hopeless when they mixed coins. Criminals wouldn't be revealed unless regulate mixer, which is unlikely to happen. Criminals just getting advantage of bitcoin decentralization.

Though not easy to keep secret while use Bitcoin but with average knowledge in Bitcoin mixers platforms users should be be able to know how to mix coins for security purposes. We have heard some criminals moved hug funds through Bitcoin which were not been track till date, what this means is; anyone among these criminal groups with a good knowledge about mixing of coins will definitely find their exit easily but remember, not all criminals can.

It is possible, most likely those criminals that have been caught recently by the authorities are don't know how Bitcoin will work and don't understand this yet.  But if you're mid-high or let say a techy person that correlates to Bitcoin stuff, you know how to blend your Bitcoin fro dirt to clean and ready to convert in fiat. Ain't know how the Chainalysis do an investigation like this.

The good thing is if there are smart scammers and hackers, government authorities can hire also these kinds of people that master hacking to trace any possible way in crypto fraudulent either money laundering from cybercriminals.  As a matter of fact, I presumed that Bitcoin as prone to cybercriminals will become useless to them since they know that they can track.

Exactly, as we noticed of crypto exchanges hacking, the criminals hold their Bitcoin for a while on the wallet and they let years will pass.

It's still private even if there is a choke point where criminals have to trade it into fiat but this is if they really will trade it into fiat.  As of this time, anyone who tries to buy BTC meant it as an investment and most likely for trading and they can keep those coins in the wallets passing it on and on without having to trade it to fiat that will require them to submit KYC.

Bitcoin is easier to track (especially when you lack skills) so this is definitely not a reason. And remember that while say, 1% of criminals might use bitcoins, the vast majority of criminal activity still occurs in fiat.

One reason though, is the ease of movement. This is definitely an advantage to anyone, including them. You do not need to declare when you cross borders. This might ease some operations like laundering, but that doesn't make it Bitcoin's fault. They could ask you to prove the origin of your money, and with Bitcoin you can even give them a clear trail to follow, much easier than fiat.

Some people even suggest all public servants should exclusively work with Bitcoin, and by forcing them disclose their addresses, people could always follow the money they get and the money they spent.

Privacy is optional, you can actually do the opposite IF you wanted to. Its not private by default, so this makes it very ill suited for criminal activities. If anything, they would be giving authorities even more hints to track and trace.

If you ask me, i personally think criminal adoption is even slower than normal adoption, because of these issues. But, that doesn't mean they can't use it, it will probably increase as the world as a whole increase adoption. If everyone used gold coins, ransom for kidnapping would be asked in gold coins, like the Spanish did to the south American Inca ruler (and after they paid the ransom, they killed him anyway, typical).

So as much as you hate it, criminals are part of the world. No such thing as a "clean" money. The USD is probably the dirtiest money (even literally with the cocaine traces on its banknotes) simply because its the most widely accepted, not that it deserves it. Then logically followed with the most used coins like the EUR and the other fiats.

So rather than focusing in the medium, focus in the act. Its not Bitcoin, its the kidnapping (or whatever crime).

I mean, there are opportunities for criminals today to use anonymous cryptocurrencies. As joniboini correctly pointed out

But since there are some difficulties in acquiring the latter, criminals are forced to buy bitcoin anyway.
Perhaps you will better understand the meaning if you follow the link.

Unless, these criminals are also long-term bullish on bitcoin hence why they prefer holding it. 🤔

Kidding aside, bitcoin is traceable and all, until they learn how to coinjoin/mix their coins well(and not mess up their tracks), then that'd be a problem. Also taking note that developers are trying to come up with ways in making bitcoin more private.

Also, correct me if I'm wrong, but unless you're a mid-high class criminal, I don't think anyone is even going to trace your transactions.

Because bitcoin didn't need a full background if you register to access bitcoin that the reason why criminal still using bitcoin. And reason number 2 bitcoin give a higher amount than other crypto that why they still picking bitcoin.

There are a lot of reasons but I do believe that some of them might be :

- lack of education about transparency of bitcoins
- easily accessible
- most popular
- misconceptions about bitcoins eg: it makes a person rich overnight and such , thus people wants to get involved
- sale of virgin coins by the miners
- blending services easily accessible

There are many more things that one might add , but most of these hackers and criminals get caught very often.

Well, some reports/articles suggest otherwise. For example:
- https://www.swift.com/sites/default/files/files/swift_bae_report_Follow-The%20Money.pdf
- https://messari.io/c/research/bitcoin-in-the-grand-scheme-of-things
- https://www.tandfonline.com/doi/abs/10.1080/23738871.2019.1680720
If anything, I think Monero is far easier to abuse for a criminal purpose. Anyway, what OP trying to do here is just to share the opinion and not literally asking why "still".

 I don't see bitcoin as a tool for criminals, it all depends on the forum where they purchase the token. That's why I recommend KYC system for all exchanges, to avoid criminals from tarnishing bitcoin.

Bitcoin means anonymity and a criminals wants that. I don't understand why you put "still" on the title. They still use it and they will always use it. Truth be told, bitcoin is one of the greatest criminal tools and I'm against anyone thinking the opposite. Bitcoin means privacy, we can all agree upon that, but there are people that abuse it.


It is quite true, indeed. Especially if you make your bitcoins clean with a mixer.

Because they think it's an easy way to cover their tracks. But they do not understand that this is not quite true in reality.