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We look at the 10 top bitcoin fiascos, related to money laundering, funding criminals, extortion, Ponzi and MLM, drug dealing, kidnapping, dodgy banks and the fall of Mt.Gox.
The teenage co-founder of an Arabic language cryptocurrency exchange and editor at Coin Brief has been arrested over a suspected link to assisting a man travelling to fight alongside ISIS. Ross Ulbricht’s seized coins will be up for auction today and other top stories for March 5.
Israeli web analyst claims that Islamic State is continuing to use Bitcoin as a means of funding. But the evidence he quotes is not enough to point at a trend as the amount mentioned was only 5 BTC. Taking into account the spread of cryptocurrencies in Israel itself, the statement appears to be just an example of Bitcoin-related media hype.
The leadership of ISIS was considering accepting Bitcoin donations to help their cause.
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