As cryptocurrency methods like Bitcoin are in existence, it has become easy for money launderers, making it a hectic task for Crime investigations to identify and nab them. A Delhi based investigation official has revealed that, it has become easy for antisocial to make use of Bitcoin for money laundering and black money existence, as it not just ensures easy transfer of black money, but also ensures quicker exchange.
Bitcoin trading happens through wallets, and understanding of mining technology makes sure one can earn money through Bitcoins. On the other end, not just the Indian police, but international crime investigation agencies have also confirmed that the illegal money transfer /Hawala now happens via online exchange. With the usage of bitcoin which isn't regulated in India, it has become easy for even Ransomware hackers to use online methods for illegal money exchange.
It must be noted that a popular Delhi based publication house was hacked by hackers, who not just hacked the data of the book house, but also warned that they must pay in bitcoins to get back the data. In a similar way, a hardware shop was hacked, and 1750 US Dollars worth bitcoins were asked in return, while later it was revealed that the account used was belonging to someone, while it was hacked by someone else.
