Why is Bitcoin actually “bad for crime” contrary to popular belief?

Bitwise Management CEO Hunter Horsley was on Yahoo Finance Live to talk about why Bitcoin is bad for crime. Bitcoin, the technology that runs the blockchain, basically has a ledger. Transactions cannot be hidden. Wherever or whenever a transaction takes place, there is a digital trail that shows where it is going. This helps ensure that transactions are not manipulated. Every move is documented and can be viewed and tracked by anyone. Authorities used it to get back the illegally obtained money. What role does crypto play in crime When the CEO posed the question, he pointed to developments in the ransomware attack on the Colonial pipeline, where the FBI was able to confiscate and recover some assets. While this might not be intuitive for many people, more and more people are learning about it, he said. Related literature | Questions linger as the FBI recovers colonial pipeline ransomware funds While talking about the management fund, the world's largest crypto index fund manager, he explained that it's a topic often brought up by the people he works with. Everyone wants to know the role crypto plays in crime and what to expect in the future. Referring to Chainalysis, an analytics service used by law enforcement, Horsley pointed out that data from the site shows a downward trend in the use of Bitcoin and cryptocurrencies in ransomware attacks by cybercriminals. 24 Hour Bitcoin Chart | Source: BTCUSD at TradingView.com Bitcoin has been the main currency used by cybercriminals for several years to accept payments for ransomware attacks. Many companies fell victim to these attacks and had to pay large sums of cryptocurrency for the attacks. One of these companies was recently Colonial Pipeline. They had to pay the attackers $4.4 million in Bitcoin. A traceable presence is bad for crime. But the story doesn't end there. With exchanges that require KYC for their customers

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