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bitcoin ain’t for criminals
3034 sats \ 14 comments \ @0xbitcoiner 4 Jul bitcoin
I’ve been following the news about that R$1 billion hack on Brazil’s financial system. No regular folks were hit, just the big financial institutions. The hackers exploited a vulnerability in the Java OpenWire protocol that’s been known since 2023. asper attack report.
What’s crazy is that it seems no one even noticed until a Brazilian crypto exchange tipped off the central bank. Someone was trying to buy a massive amount of Bitcoin and USDT. Chances are, the hackers had been using that vulnerability for a while already. And here’s the thing, it was a crypto exchange that raised the alarm and reported the attack.
Not gonna pretend criminals don’t use Bitcoin too, they do, just way less than fiat. But I’ll say it loud: Bitcoin ain’t for criminals. I’d love to hear what the stackers think, why isn’t Bitcoin for criminals? Bitcoin is honest money.
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0 replies \ @0xbitcoiner OP 4 Jul
The mechanics of the hack.
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148 sats \ 3 replies \ @DarthCoin 4 Jul
Nope. Bitcoin is for criminals too. If weren't then will not have its usefulness. And this idea of criminalizing a meaning of exchange because is used by criminals and bad people is totally stupid. Also socks are used by criminals. Are we going to criminalize people using socks now?
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0 sats \ 0 replies \ @optimism 4 Jul
Are we going to criminalize people using socks now?
Probably, but let's resist that one too. I'll manufacture my own socks as an act of defiance.
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0 sats \ 1 reply \ @0xbitcoiner OP 4 Jul
The beauty of Bitcoin is that anyone can use it, criminals or not. But what I’m really asking is: why is it actually riskier for criminals to use Bitcoin than fiat?
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5 sats \ 0 replies \ @DarthCoin 4 Jul
It is not. Only that you will not hear "stories" of criminals using it, because they will never say such things. Criminals knows very well the golden rule of Bitcoin: never talk about your bitcoins.
REMINDER:
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21 sats \ 0 replies \ @2229cece18 4 Jul freebie
O Bitcoin não foi feito para criminosos, mas é uma ferramenta utilizada por eles. Quando Satoshi criou o Bitcoin, ele fez isso pra nós protegermos da deterioração da moeda Fiat (fiduciária). Ao menos essa é minha opinião. Ahh, o meu país está quebrando!!
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21 sats \ 0 replies \ @jasonb 4 Jul
Bitcoin is for criminals. Here’s a whole database you can check out of high profile criminals that use or used Bitcoin as part of their illicit activity.
www.bitcoinisforcriminals.com
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0 sats \ 0 replies \ @d680ecaa8e 4 Jul
Some sites prevents even participating in airdrops and classify earnings as fraudulent activity.
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0 sats \ 0 replies \ @standardcrypto 4 Jul
It is 100% for criminals (and everyone else).
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0 sats \ 0 replies \ @hasherstacker 4 Jul
Bitcoin is the hardest money but the most verifiable. It's for anyone. No matter whether a criminal or not.
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0 sats \ 0 replies \ @stack_harder 4 Jul
I would say fiat is for criminals
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0 sats \ 2 replies \ @guerratotal 4 Jul
In a sense, Bitcoin meets (and surpasses) the rule of fiat money: it's usable by anyone, without discrimination. In fact, this neutrality makes it even more useful to criminals than the traditional banking system, which is precisely why many criticize it. Paradoxically, this "dark" use is what most stands out in the media, although in reality, Bitcoin is a tool of freedom that empowers ordinary people, as we see in Africa, as well as those living under dictatorships (in this case, myself when I lived in Cuba), or, in these cases (like the one in the news), criminals.
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0 sats \ 1 reply \ @0xbitcoiner OP 4 Jul
But fiat money, if you don’t run it through the banks, leaves no trace. Bitcoin’s the opposite, it leaves a trail.
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0 sats \ 0 replies \ @guerratotal 4 Jul
Absolutely true, physical cash, well used, can be invisible. But personally, I don't see moving a million in bills as the same as moving it online (in terms of logistics, risk, and speed). Bitcoin leaves a mark, yes, but it also allows for the movement of large amounts of money without borders or intermediaries, and that has a power that cash simply can't match. I say this with certainty, because I did it when I left Cuba, coming back with a handful of satoshis without anyone knowing (or even seeing it).
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