The gang sold bitcoins and other forms of web money to their particular customers.
Digital currency transactions are functioned online where all information is kept secret. This type of digital currency is called cryptocurrency.
Cryptography method is used for bitcoin exchange and the code used in this method is quite impossible to figure out, the SP added.
The funny thing that i found in the article is that, the authorities are claiming that it is impossible to figure out the transactions and yet they found those transactions and arrested three people. Are they trying to claim that they are intelligent enough and they can decipher anything which are quite impossible and i am not sure what all stories they are telling. The people who got arrested might have done something fishy, if not they wont get arrested like that and i am sure there are many people who are trading bitcoin from Bangladesh for years and now they are claiming that they arrested for trading bitcoin.
The issue is that those 3 arrested committed other crime apart, they can not be arrested for just trading bitcon or cryptocurrency because from the news it clear there were operating a fake site which is related to crypto which can also be used to fraud others which is illegal before the law.
As far as I know they were related to some scams by using a website called paidbd. Besides, they used to play bet. Being cheated from them someone reported about them to the police.
Well if this were one of the websites they took down then yes they did deserve to be arrested because they were scam artists which unfortunately saw an easy way in using bitcoin for a way of accepting payments to facilitate their scheme.
Illegal activities needs to be arrested and there is nothing which can save the criminals then. But arresting individuals who are selling cryptocurrencies to a group of customers is not really something which could be accepted. OP should mention the website which was been seized by the Bangladesh police.
I have not really heard about paidbd but if they were the ones who scammed peoples then for sure it might be something which needs to be arrested. Arresting such peoples might perhaps decrease the amount of scam projects in the current markets. There really are a number of scam projects here in these markets which strictly needs to shut down.