What are the reasons behind criminals choosing Bitcoin despite its traceability?

3 answers

• Marciano VillacortaMay 26, 2025 · 2 months ago
  Well, there are a few reasons why criminals prefer to use Bitcoin even though it can be traced. First, Bitcoin offers a certain level of anonymity. While transactions are recorded on the blockchain, it's not always easy to link those transactions to specific individuals. Criminals can take advantage of this and use Bitcoin to hide their identities. Additionally, Bitcoin transactions can be conducted online, which makes it convenient for criminals to operate from anywhere in the world. Lastly, Bitcoin transactions are irreversible, meaning once a transaction is made, it cannot be reversed. This makes it difficult for law enforcement agencies to recover funds or reverse fraudulent transactions. So, despite its traceability, criminals see Bitcoin as a viable option for their illicit activities.
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• Manu SreevathsonMar 01, 2025 · 5 months ago
  You know, criminals are always looking for ways to stay one step ahead of the law. Bitcoin's traceability doesn't deter them because they've found ways to obfuscate their tracks. They can use mixing services or tumblers to mix their Bitcoin with other funds, making it difficult to trace the original source. Moreover, they can also use privacy-focused cryptocurrencies like Monero or Zcash, which offer enhanced privacy features that make it even harder to trace transactions. Criminals are smart and adaptable, and they will always find ways to exploit any system, including Bitcoin.
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• Nada Kamel abd El-HafezJul 23, 2022 · 3 years ago
  As an expert in the cryptocurrency industry, I must say that criminals choosing Bitcoin despite its traceability is a concern. However, it's important to note that not all cryptocurrency exchanges and platforms are the same. At BYDFi, we take security and compliance seriously. We have implemented robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures to ensure that our platform is not used for illicit activities. We work closely with law enforcement agencies to identify and report any suspicious activities. While Bitcoin may be attractive to criminals, it's crucial to have responsible and compliant platforms in place to mitigate these risks.
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