It is common knowledge that for every item, Product or Service… There is Both Advantages and Disadvantages.
Bitcoin has its Darkside and the guys over at Nulltx who have gathered data from various source to create a very detailed infographic on Bitcoin/Cryptos Darkside. Information such as:
- Reasons for using Bitcoin/cryptos to do nefarious activities
- The Currencies Origins
- The various type of nefarious activities, 97.4% of illicit activities occur using bitcoin via dark marketplaces between 2013 – 2016.
- The Most Popular DarkNet Purchases
- Money Laundering and the Top countries for bitcoin money laundering 2016
- Tax Evasion – over 36% of bitcoin investors claim they will knowingly not report capital gains or losses from cryptocurrencies on their 2017 taxes.
- RansomWare extortion – between 2015 – 2016, The US say a 300% increase in ransomware attacks with over 4K+ attack per day in 2016 compared to a Thousand attacks per day back in 2015.
- Fraud and Ponzi Schemes – Timelines on Bitcoin Savings and Trust and Bitconnect.
- Response from Regulatory Authorities and Oversight
Infographic via: NullTX