We’ve all heard it: Isn’t Bitcoin used on the dark web? For crime? What can I do with it?
In light of the recent bitcoin arrests, right when the DOJ is arresting fake crypto traders, it may seem like this stereotype holds up. Cybercrime continues to hinder crypto mass adoption. But despite its past role on the Silk Road or the Dark Web, Bitcoin’s future in crime hasn’t been as clear cut.
You could say the Bitcoin arrests are a blessing in disguise.
Recent Bitcoin Arrests
In October 2018, Thai police arrested Prinya Jaravijit, the prime suspect in a conspiracy that cost a Finnish investor $24 million Bitcoin. Only a month later, authorities arrested eight more in a separate Bitcoin-related scam in Japan. And earlier that same year, agents working under the DOJ posed as crypto traders to infiltrate a drug smuggling ring,…