Someone already built website that marks some coins as "bad", but to make it work all bitcoin merchants would have to follow its decision.
Not to mention it would undermine the core idea of bitcoin - it wouldn't be longer decentralised, that person/ organization which decide that some coins are "bad" would work like central bank.
Bitcoins should be treated similar to gold, there is no "bad" gold as long it's real, pure gold

What if a guy comes up to you selling gold with blood all over it from the house he just robbed and family he murdered inside. Is that gold bad then?
I see nothing wrong with trying to track bitcoin thefts.