DARK WEB DRUG VENDOR PLEADS GUILTY AFTER FEDS TRACED HIS BITCOIN TRANSACTIONS


Crypto global news, I’m Edward. Right now, we’re taking a look at Bitcoin and how a series of transactions on the block chain have helped police to capture an alleged criminal. A French national in Gal Ville areas was apprehended by police in Atlanta, Georgia, while he was traveling to a beard and mustache competition. And no, that’s not a joke. The investigators in the case have said that Valero was to use the handle. Oxy Monster on the dark web created a tip jar where people could pay him for his services. He used a platform called Dream Market. This is a darknet market which basically acts as a commercial Web site where many of the transactions that take place on said Web site are for illicit businesses. Once Villa is landed in the United States, the border agents were able to confirm that he was, in fact, oxy monster. The U.S. authorities also found other evidence on his laptop, like a PDP encryption key. He used to sign messages, dream market logging credentials and bitcoin wallets with addresses connected to oxy monster vendor accounts. The original criminal complaint advised that Oxy Monster was someone who sold cocaine, fentanyl, LSD, oxycodone and methamphetamine. Villiers has already pled guilty to selling oxycodone and Ritalin on the dream market and also to conspiracy to launder money and to possess with intent to distribute illicit goods and controlled substances. He now faces up to 20 years in prison for his crimes. The story brings us to an interesting tradeoff from the original White Paper on Bitcoin published in 2008 on privacy. It reads as follows The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone. Part of the whole idea behind cryptocurrency was that a person or persons could maintain anonymity while doing their financial transactions. However, one of the biggest concerns for governments the world over has been the lack of ability for law enforcement to track and capture criminals because of their access to cryptocurrency. So while cases like that of Oxy Monster be seen as a sign that crypto can be treated like any other payment method, or that it still needs more regulation and to be kept out of the mainstream. Only time will tell for crypto global news. I’m Edward. Until next time you take care.

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