Post
Topic
Board Bitcoin Discussion
Re: building a crypto criminal database
by
AicecreaME
on 11/09/2020, 13:36:15 UTC
This company in South Korea is figuring out that once a cyber criminal, always a cyber criminal. They found that two separate big crypto crimes shared the same exchange account for onramping or offramping. Of course most of it was done with Bitcoin. Don't know how it will get better before getting worse.

https://thenews.asia/hyungoo-kim-tracking-cryptocurrency-cyber-crimes/

Bitcoin’s reputation has been tainted because of criminal and illegal activities. That’s why the government is itching to put their hands on our community to regulate. This is a really exhausting scenario because if that happens, bitcoin would no longer have a decentralized nature. It would suppress the freedom of users in the cryptocurrency world.

The majority are resorting to making illegal transactions to generate more money. These people use some kind of tools and algorithms that could make the address untraceable. However, not everyone is a smooth criminal, hence they were caught by the law enforcers.

If acts like these would continue, for sure most exchanger platforms would require every user to provide their personal information (use of KYC). I just hope it won’t happen because there would be no sense at all if anonymity would be sacrificed.