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Bitcoin is the largest digital currency associated with crimes

2019-04-25 12:44 pm | Resource: Crypto Section | No Views : 244

Bitcoin is the largest digital currency associated with crimes Bitcoin (BTC), since its inception, has been linked to crimes or illegal trade in general, and this is of course due to its confidentiality.
This is also related with the difficulty of identifying its owner.
In a new study, Digital Currency Analytics revealed that at least 95 percent of digital currency crimes investigated through law enforcement include BTC as a key partner in the crime.
Jonathan Levin, co-founder of ChainAnalysis, said that BTC is the first and most preferred currency for all criminals and intruders, due to the difficulty of revealing its identity and its high price value.
ChainAnalysis has provided a program of verifiers aimed at investigating, prosecuting and prosecuting bad people who use digital currency for theft.

Bitcoin and Terrorism
Bitcoin and Terrorism

Law enforcement needs to adopt a more sophisticated approach to dealing with digital currencies, and it is clear that the digital currency market has become very much in the financing of terrorism.
Press reports confirmed that the Palestinian Hamas movement, which is based in an invasion-based sector, has openly accepted donations through BTC earlier this year.
A report by the US-based RAND Corporation in early April confirmed that the digital currencies (BTC) and Zcash (ZEC) have failed to be the preferred currency of terrorist organizations, as BTC does not enjoy much While Zcash is a distinct privacy currency, it does not have a large user base, so it will be difficult for terrorist organizations to rely on digital currencies for external funding.

Digital currencies are used by China in the distribution of drugs

Digital currencies are used by China in the distribution of drugs
Levin said records on digital currency transactions, which had led to the arrest of a large number of defendants, showed that there was a major drug distribution crisis in the United States, as it had flowed illegally into the country.
Levin accused China of facilitating the flow of deadly opiates into the United States, linking digital currencies to pharmacies in China, or the services people use to distribute drugs, the biggest proof of which.

Bitcoin is related to the crimes but!!

Bitcoin is related to the crimes but!!
Although Bitcoin is described as the largest digital currency in crime, transparency of digital currencies helps ease law enforcement in prosecuting suspects faster than conventional funding, Levin said, noting that investigators are no longer Need to rely on getting transactional records from foreign banks.
Although the BTC is overwhelmingly used by digital currency criminals, Levin pointed out that ChainAnalysis has launched real-time monitoring of 10 digital currencies, in addition to a wide range of Stablecoins, because law enforcement agencies are trying to investigate breakthroughs in stock exchanges Currencies, where other tokens are stolen significantly, away from Bitcoin (BTC).

QuadrigaCX digital currency trading scam

QuadrigaCX digital currency trading scam
Levin also said he was investigating QuadrigaCX, the Canadian-based digital currency exchange, which officially declared bankruptcy earlier this month after the death of its owner, Jerry Cotin, at the end of December last year.
The company lost access to the refrigerant and corresponding switches after the CEO's death in December last year and is said to owe more than $ 195 million to 115,000 customers.
Levin pointed out that the CEO of the stock exchange was working on reserve fractures, and became in deep trouble, saying:
"We were looking at the holdings of Bitcoin and also the holdings of QuadrigaCX, and what we found very quickly is that QuadrigaCX, as a stock exchange was not actually loss of customer funds reported in the media, these funds actually did not exist.
Levin also repeated the claims made in the Analysis report earlier this year that two groups of hackers were responsible for stealing $ 1 billion in digital currency, the bulk of the money lost in fraud.

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