Everyone has heard the chatter about Bitcoin and how valuable and volatile it is, but what many people do not know is that even though Bitcoin was not intended to serve the criminal underworld, the currency was quickly adopted as the de facto standard of payment for making anonymous transactions. As a result, Bitcoin has notoriously been used for purchasing illegal services, illegal drugs, weapons and many other things that could be facilitated over the internet.
Bitcoin has gained traction as the go-to currency for numerous other criminal activities such as; Randsomeware, kidnapping and sextortion, to name a few.
Bitcoin is built on a technology known as blockchain, which utilizes a public ledger. Put simply all bitcoin transactions are public. Essentially using the resources and propriety software available to us we can track Bitcoin transactions if we possess the Bitcoin address.
This comes in extremely handy when tracking illegal activities online.
You would be surprised as to how many people think that Bitcoin is 100% anonymous. But what they fail to recognize is that once their Bitcoin address is attributed to them we can generally trace all their activities.