Child Pornography: Payment Via Cryptocurrencies Rose By 32% In 2019
A survey recently carried out by Chainalysis the showed a high rate of popularity of digital assets in the world of child pornography. The data put forward by the firm revealed that the use of digital currency to pay for child pornography increased by a massive 32% from 2018 to 2019. Government laws and regulations to fight this inhumane practice were seen as regards the closure of one of the biggest child pornography network “Welcome to Video”. The system which was closed in 2018 had already amassed a total of 420 bitcoins during the three years that it operated across the globe.
Digital assets are easily the best way to track criminals and lawbreakers if they are not careful to hide their location when doing their dirty deals. Authorities have in the past used Bitcoin, and Ethereum addresses of clients and traders to trace them if they are involved in illegal transactions since most of them are gullible enough not to hide their identities while transacting. While some private crypto network hides the location of their clients and traders, Bitcoin and Ethereum traders do not enjoy that privilege because they are a public-oriented network.
Nina Heyden, the in-house Economist of Chainalysis, has said that most of the incoming funds come from exchange and trading platforms. She stated that this allows them to be able to access the location and identity of their customers and in turn curb any criminal activities on the exchange. “The good thing about that is those exchanges often cooperate with law enforcement when law enforcement requests more information during investigations.” She said.
Elliptic, a London based Bitcoin firm said that it has partnered with International Watch Foundation to curb the activities of child pornography across the UK. IWF boss, Sussie Hargreaves have said that they have intercepted about 68,000 URLs associated with child pornography. “Over the past few years, we have seen an increasing amount of bitcoin activity connected to purchasing child sexual abuse material online,” IWF boss said.
A report in South Korea showed that crypto bigwigs, Chainnews, Upbit, Bithumb and Coinone worked together with the police to reveal the details of their clients involved in child pornography. Police made a report that it had gotten the details of about 10,000 people that joined a telegram channel that distributed child pornographic content. Further reporting, police said most customers of the telegram channel paid as much as $1,200 in Bitcoin and Ethereum to gain entrance into the channel.
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