Everyone who has a little knowledge about bitcoin knows that when bitcoin rise or fall in cost and popularity, law makes new regulations about “How to treat bitcoin?”
Lack of law and regulations make bitcoin more anonymous because of peoples who used it for their illegal purpose. No doubt, nowadays bitcoin is used more for Illegal purposes rather than legal purposes.
Bitcoin is used for all Illegal and criminal activities like target killing, drugs, money laundering, human trafficking and lot of uncountable other illegal activities.
These crimes are happening more in bitcoin industry rather than any other illegal industry.
Recently a notorious cybercriminal Grant west was arrested for committing many cyber crimes. When police investigate they found that he deals in bitcoin for his all-Illegal activities.
In their first report, they found that he attached 17 websites but later they found that e attached more than 100 websites. He stole 78 million people’s data mostly through phishing emails. In addition, the worst news is that he also has 63 thousand peoples credit card information.
Please avoid any unrecognized email, which is asking your personal Information, Never respond them.
This might be painful especially for freelancers but its necessary for your security.
After Grant West arrest, his all money seized by authorities. Which was around half million euro’s, which is about 673k dollars. Authorities did not declare the actual number of bitcoins but they are 81.5 according to estimation.
In Silk Road Operation, authorities seized around 14k bitcoins.
So be aware if you have bitcoin use them carefully, nowadays cyber-crime is fully active against cyber criminals and bitcoin is the major target because almost 99.5% cyber hackers and criminals are dealing in bitcoin and some other major cryptocurrencies.
According to Researchers, more than half of all bitcoins are used for Illegal and criminal activities but few expert deep webmasters said that it is not true more than ¾ bitcoins are used in illegal activities. A very short amount of bitcoin is used for legal purposes.