Post
Topic
Board Bitcoin Discussion
Re: Bitcoin adoption and increase in crime rate, how correlated are they?.
by
Bitstar_coin
on 17/08/2021, 11:06:59 UTC


Just to highlight a paragraph from the article;
Quote from: Kidnappers Kill Venezuelan Citizen for Not Paying Ransom Requested in Bitcoin
The popularity of cryptocurrency in the country has caused an increase in scams and crime using these new assets. Cryptocurrencies, due to their innovative design, can sometimes be more difficult to track than money moved via traditional fiat avenues.
https://news.bitcoin.com/kidnappers-kill-venezuelan-citizen-for-not-paying-ransom-requested-in-bitcoin/

 
This is alarming because the crypto related cases is not just increasing but also getting dangerous each year , in the past ransom is being asked but there is no killing happens but now? this is an obvious attempt to scared all crypto holders in the world that they can be treated like this if they don't cooperate in those crimes.
Now this made me the think of declining to expose any other way of my KYC as this is the only way why we are being exposed from this criminals.



Even with fiat such things do happen, the increase in crypto acceptance has nothing to do with increasing crime rate, all this things already happening before crypto became popular, it is unfortunate that some bad individuals have decided to act this way and use crypto to demand ransom instead of fiat, they feel it will be difficult for the authorities to trace them by using crypto,  you should note that performing kyc is some better because with that it will be easy to trace such kind of people.