The advanced level of anonymity in there implies that it's quite difficult to trace transactions. It's perhaps not fully impossible, but it's unrealistic generally in most cases. Therefore crime with cryptocurrency-- since you have got fast, borderless transactions, and you have got a advanced level of anonymity, it the theory is that creates a method that is ready for exploitation. So typically when it's a crime online with on the web payment techniques, then they tend to attend the authorities and, state, we can give over this cost information or we are able to end these transactions and reverse them. And nothing of that can happen with Bitcoin, so that it helps it be ripe for criminals, in theory.
In light of the, a lot of various agencies Crypto asset management investigating in to Bitcoin and considering Bitcoin and wanting to understand how it works and what they can do to authorities it. It's already been in the media many occasions, and the media, being the media, like focus on the bad part of it. So they target very heavily on the crime with it. So if there is a theft or a scam or anything like that, then they tend to responsibility it on Bitcoin and Bitcoin users.So probably the most significant might be Silk Street, which got taken down lately, and through their $1.2 billion worth of Bitcoins, gone to pay for any such thing from medications to weapons going to guys to these types of things. And the media, again, quickly the culprit that on Bitcoins and claim so it was the Bitcoin user's fault.
But there's really almost no proof of the range of the issue of offense with cryptocurrencies. We do not know if there is a ton or we don't know if there exists a little. But despite this, persons are very rapid to brand it as a offender point, and they your investment genuine employs, including the rapidly and quick payment.So a few study questions I am taking a look at in this region is what does crime with Bitcoin appear to be? Therefore lots of persons may say that scams and thefts have been going on for ages. However the suggests through which they occur improvements with the technology. So a Victorian road swindler might almost be performing anything really different to a 419 Nigerian prince scammer.
