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    Author Topic: 3 arrested in Bangladesh for merely trading Bitcoin  (Read 1079 times)

    • GreatArkansas
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    April 29, 2019, 01:25:52 AM
     #21
    It's just sad when you heard that cryptocurrencies are illegal. But we can't judge them, they have their regulation on their country, so be it. But it can still be processed into legal action, maybe they operate without a permit from their government, so the government has the right to seize them. The only good sentence in the news is the
    Quote
    "However, the use of cryptocurrency is increasing day by day."
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  • Erickan
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    April 29, 2019, 03:29:01 AM
     #22
    When I read the title, I thought these three guys were arrested because Bangladesh banned trading, exchanging or using bitcoin. But not, it turns out these are criminals. Crypto is a fairly new industry, it is both an opportunity and a challenge for those who want to participate, there are plenty of evil people like these three.

    Hopefully they will have to take a heavy sentence for their crimes.

  • Yakamoto
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    April 29, 2019, 04:32:27 AM
     #23
    Quote from: Erickan on April 29, 2019, 03:29:01 AM
    When I read the title, I thought these three guys were arrested because Bangladesh banned trading, exchanging or using bitcoin. But not, it turns out these are criminals. Crypto is a fairly new industry, it is both an opportunity and a challenge for those who want to participate, there are plenty of evil people like these three.

    Hopefully they will have to take a heavy sentence for their crimes.
    I'm not sure how you interpret the article into framing the individuals involved as criminals, as the article literally says that they were just arrested because they were trading Bitcoin, due to it being illegal in Bangladesh. While it could certainly be argued that it's a criminal offense due to the fact that it's illegal within their country, it's a law that's outlawing a mostly benign activity. It's like saying that people who wear jeans in a country that bans jeans are criminals. There's no standard or rationale for it beyond someone deciding to outlaw the action by signing it into law. Same thing in this case, no rationale for it, but they're described as criminals because Bangladesh says they are.

  • Cuk0ng_bitc0in
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    April 29, 2019, 05:39:15 AM
     #24
    Quote from: Genemind on April 28, 2019, 03:08:49 PM
    It's a good thing that they have been arrested.
    If they're doing it for a long time, I guess authorities have been looking after their activities.
    Though they're already paying for what they did,
    we still can't deny the fact that there are still lots of criminals roaming around like them so it should serve as a warning and we must be observant all the time.
    yes, and this is the reason the government of Bangladesh does not legalize crypto spread. Criminal rates there are very high, and the people there are very primitive. they will only be a burden. if they force to use crypto, I think it will be difficult.

    Government of Bangladesh need a long time to control the crypto spread there.

  • avikz
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    April 29, 2019, 05:48:41 AM
     #25
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    They seized two laptops, 16 mobile phones, and 20 SIM cards from the detainees after the arrest on Thursday!

    That doesn't look like they were "merely" trading in cryptos. I am sure there is more behind the entire story! A normal trader would not use such huge amounts of mobile phones and sim cards. They must have done some kind of illegal money transmissions which can be classified as "Laundering"!

  • dothebeats
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    April 29, 2019, 06:30:40 AM
     #26
    A quick look into other sources and apparently these guys are not just 'mere traders' as to what OP is trying to convey in here. If anything tey are involved in scams, theft and money laundering--in short they are criminals of some sort. It's better for them to get detained instead of getting more victims along the way. We need little of these pricks in the ecosystem in order to not tarnish the name of bitcoin and crypto as a whole.

  • DTalk
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    April 29, 2019, 06:49:31 AM
     #27
    OP, these 3 people weren't arrested due to trade bitcoin. They have cheated people. In recent days, they have cheated BDT 100k from an user or a group of user. Prior to this, they have been cheating others for a long time. The people whom they scammed BDT 100k has filed a lawsuit to the cyber police and that's why they were arrested.

    Last year, we have seen some people were also arrested in Dhanmondi. They too were not arrested due to trading bitcoin, they were mining bitcoin for a long time. After having solid information about that, police raid and arrested them.
    কাউকে বিশ্বাস করার দরকার নাই ক্রিপ্টো জগতে, সবকিছু ভেরিফাই করতে পারবেন।

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    April 29, 2019, 07:05:39 AM
     #28
    just FYI Bangladesh is among the handful of countries that have actually banned bitcoin (this is actual ban meaning you can't own, trader, use bitcoin. not like the lies about China, India and a dozen others regarding ban which is fake). so this is not really a newsworthy thing since these people were actually performing something illegal. of course they were arrested because it was a "big operation" otherwise individuals aren't that much under observation to be arrested if they used bitcoin!
    Only Bitcoin

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    April 29, 2019, 07:57:36 AM
     #29
    Yes, strange events take place in Bangladesh. Three members of a gang of cybercriminals who secretly sold cryptocurrency were arrested. Just a terrible crime. However, as noted by the police, despite the tough measures taken, the number of people involved in cryptocurrency is growing day by day. I wonder how the authorities will behave when the number of people involved in cryptocurrency will increase many times?

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    April 29, 2019, 08:58:27 AM
     #30
    Quote from: sanida on April 29, 2019, 07:00:01 AM
    I think these people are bad guys from the start, I mean why they are being arrested for merely trading bitcoins, when bitcoins are not even banned from their own country. obviously these guys have made something unlawful to get them arrested they are robbers anyway. the title is misleading it should be updated to avoid confusions.


    As pursuer said . bangladesh is one of the countries that ban bitcoin  .  now if you will still continue using bitcoin on your country even if its banned then you know what will happen to you  . can either go to the jail or you will be asked to pay the amount that you stole ( times 10 )  . however , idk the exact situation on how these guys have caught when trading bitcoin offline is still anonymous  . they can use fake details and a vpn connection to mask their true connection  . or maybe they are trading offline from person to person .

  • Jating
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    April 29, 2019, 11:53:24 AM
     #31
    Quote from: n0ne on April 29, 2019, 12:31:24 AM
    Once again this has taken place, last year the police arrested few trader in Bangladesh. What the government think of think of limiting the bitcoin usage, they're one among the country that has banned the use of bitcoin. There are people who move to the neighboring countries in specific to India for their cryptocurrency trading purpose. I believe this won't stop the true users of bitcoin from using it.

    Yes, I remember that I read similar cases last year about people in Bangladesh getting arrested because of crypto trading. I guess there traders are putting not just money risk, but their lives as well. But who can stop them if trading brings food in the table for their families?

    I guess they just need to be very careful because I'm sure a lot of Bangladeshi is still trading underground or somewhere else. I don't know about moving to India though, they've been a pain lately and they could possibility ban it, in my opinion.
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    April 29, 2019, 01:30:55 PM
     #32
    Quote from: Jating on April 29, 2019, 11:53:24 AM
    Yes, I remember that I read similar cases last year about people in Bangladesh getting arrested because of crypto trading. I guess there traders are putting not just money risk, but their lives as well. But who can stop them if trading brings food in the table for their families?
    It was not due to trading, last year a sum of 7-8 people were arrested due to mining bitcoin and some other crypto. Till now, I have not seen someone to be arrested for trading bitcoin in Bangladesh. However, it still is illegal here.
    কাউকে বিশ্বাস করার দরকার নাই ক্রিপ্টো জগতে, সবকিছু ভেরিফাই করতে পারবেন।

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    April 29, 2019, 01:46:19 PM
     #33
    Quote from: DTalk on April 29, 2019, 01:30:55 PM
    Quote from: Jating on April 29, 2019, 11:53:24 AM
    Yes, I remember that I read similar cases last year about people in Bangladesh getting arrested because of crypto trading. I guess there traders are putting not just money risk, but their lives as well. But who can stop them if trading brings food in the table for their families?
    It was not due to trading, last year a sum of 7-8 people were arrested due to mining bitcoin and some other crypto. Till now, I have not seen someone to be arrested for trading bitcoin in Bangladesh. However, it still is illegal here.

    It's probably just a matter of time before someone gets arrested for trading in that country if it has banned btc. Banning it means it's illegal to be associated with bitcoin and crypto so unfortunately for the citizens there, they'll have to face the risk of getting apprehended if they mine, or even trade with crypto.

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  • Slow death
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    April 29, 2019, 04:32:58 PM
     #34
    Quote from: https://www.thedailystar.net/country/news/three-cryptocurrency-dealers-held-bogura-db-habiganj-laxmipur-1735174
    A team of Bogura cyber police led by Inspector Md Emran Mahmud conducted a drive in Madhabpur area of Habiganj and Raypur area of Laxmipur on April 23 and April 24 respectively and arrested the three cryptocurrency dealers.

    The primary investigation revealed that the dealers had made two websites on December 20, 2017 and January 14, 2018, using which they had been making transactions involving virtual currency, according to the release.

    Analysis found that the websites had 7,362 active users and about 27,800 transactions had been made through the websites. The arrestees used to transfer the money received from trading virtual currencies to their bKash and Rocket accounts, which were also recovered by the law enforcers.

    The law enforcers recovered the websites and also seized two laptops, 16 mobile phones, and 20 SIMs from the arrestees.

    A case under Digital Security Act has been filed against the trio with Bogura Sadar Police Station yesterday.

    so I understand they are being arrested because they used bitcoin and did some business involving bitcoin. Is a very unfortunate situation I wonder how long they will be arrested, what is the prison sentence for this crime? and if bitcoin is illegal Bangladesh, what's the prison sentence for using bitcoin in Bangladesh? I did a little search on google and found this:

    Quote from: https://www.thedailystar.net/law-our-rights/law-analysis/bitcoin-legality-in-bangladesh-bank-1602583
    The 2014 warning by Bangladesh Bank did not get much coverage in the local press but international press and bitcoin forums widely reported that Bangladesh has “banned” bitcoin and warned that bitcoin users may be jailed for up to 12 years.

    jailed for up to 12 years.

    It's a very high and exaggerated prison sentence.
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    April 29, 2019, 04:59:55 PM
     #35
    Actually in Bangladesh cryptocurrency is still illegal so that maximum who working in forum are doing their buy and sell their coin in secretly. But i will say it was an Isolated Incident because those who arrested are criminal.They were doing fraudulent innocent people who do not know vast about cryptocurrency but want to invest for profit. Different times they did those kind of fraudulent so that victim people complain to police and arrested.

  • Laromike
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    April 29, 2019, 05:07:34 PM
     #36
    Quote from: BitCoinDream on April 28, 2019, 12:55:01 PM
    https://www.youtube.com/watch?v=KncarNpmGzY

    https://www.dhakatribune.com/bangladesh/nation/2019/04/27/bogra-cyber-police-arrests-three-members-of-cryptocurrency-gang

    Bogra cyber police arrests three members of cryptocurrency gang

    Police found two of their used websites and blocked one
     
    The cyber police in Bogra has arrested three members of a cryptocurrency gang.

    They seized two laptops, 16 mobile phones, and 20 SIM cards from the detainees after the arrest on Thursday.

    Police conducted raids in Habiganj and Lakshmipur for two days and arrested them and brought them to Bogra.

    Police found two of their used websites and blocked one.

    Bogra Detective Branch (DB) of Police SI Shafiul Alam Shafiq filed a case against them with Bogra Sadar police station under section 1(B) of the Digital Security Act, 2018.

    The arrestees are: Shah Md Tanim, 22, Sohel Mia, 27, and Maruf Billah, 25.

    The investigating officer of the case, Cyber Police Inspector Emran Mahmud Tuhin sought eight-days’remand after producing them before Bogra Judicial Magistrate Court on Friday afternoon.

    Bogra Superintendent of Police (SP) Ali Ashraf Bhuiyan in a press briefing said: “The virtual currency bitcoin is illegal in Bangladesh. However, the use of cryptocurrency is increasing day by day.

    “The gang sold bitcoins and other forms of web money to their particular customers.

    “Digital currency transactions are functioned online where all information is kept secret. This type of digital currency is called cryptocurrency. “

     Cryptography method is used for bitcoin exchange and the code used in this method is quite impossible to figure out, the SP added.

    What they did exactly? What is the crime?

    I found crypto is not banned in Bangladesh
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    April 29, 2019, 05:16:03 PM
     #37
    They have nothing anything else which is bad for anyone or they did not done any crime. Bangladeshi police just arrested them for taking illegal money and they claiming bad things about them. Shit Bangladesh police and government. Those three people not scam anyone even they are most honorable person to help trading and investing. They have a fresh mind and people know about bangladeshi police.
    I can give some news where you will find how about character of bangladeshi police.
    https://www.dhakatribune.com/bangladesh/nation/2019/04/28/si-closed-another-arrested-for-reported-extortion-of-locals
    https://www.thedailystar.net/country/news/girl-raped-jashore-four-arrested-over-rape-sexually-harassing-bangladesh-1736362
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    April 29, 2019, 05:18:17 PM
     #38
    Quote from: BitCoinDream on April 28, 2019, 12:55:01 PM
    https://www.youtube.com/watch?v=KncarNpmGzY

    https://www.dhakatribune.com/bangladesh/nation/2019/04/27/bogra-cyber-police-arrests-three-members-of-cryptocurrency-gang

    Bogra cyber police arrests three members of cryptocurrency gang

    Police found two of their used websites and blocked one
     
    The cyber police in Bogra has arrested three members of a cryptocurrency gang.

    They seized two laptops, 16 mobile phones, and 20 SIM cards from the detainees after the arrest on Thursday.

    Police conducted raids in Habiganj and Lakshmipur for two days and arrested them and brought them to Bogra.

    Police found two of their used websites and blocked one.

    Bogra Detective Branch (DB) of Police SI Shafiul Alam Shafiq filed a case against them with Bogra Sadar police station under section 1(B) of the Digital Security Act, 2018.

    The arrestees are: Shah Md Tanim, 22, Sohel Mia, 27, and Maruf Billah, 25.

    The investigating officer of the case, Cyber Police Inspector Emran Mahmud Tuhin sought eight-days’remand after producing them before Bogra Judicial Magistrate Court on Friday afternoon.

    Bogra Superintendent of Police (SP) Ali Ashraf Bhuiyan in a press briefing said: “The virtual currency bitcoin is illegal in Bangladesh. However, the use of cryptocurrency is increasing day by day.

    “The gang sold bitcoins and other forms of web money to their particular customers.

    “Digital currency transactions are functioned online where all information is kept secret. This type of digital currency is called cryptocurrency. “

     Cryptography method is used for bitcoin exchange and the code used in this method is quite impossible to figure out, the SP added.

    I have read the news at thursday. One of the arrested person is my familiar in facebook before joning this forum. Basically they have been arrested for cheating with customers in their website (https://easypaidbd.com/). The Cyber Police of Bogura investigated into matter with the report of one victim  who has been cheated by them.

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    April 29, 2019, 05:18:37 PM
     #39
    Quote from: ETFbitcoin on April 28, 2019, 04:16:18 PM
    The news is vague, it's not clear if those people arrested only because they trade Bitcoin or also involved on another criminal activity.
    Nevertheless, they've seen it coming since Bitcoin is illegal on Bangladesh.
    This is true news because a lot of Bangladeshi national news highlighted https://www.thedailystar.net/backpage/news/police-arrest-3-cryptocurrency-dealers-1735429 Who guys mainly arrested for Bitcoin and i don't think they are involved with other crimes.

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    April 29, 2019, 05:43:27 PM
     #40
    Quote from: Spider A4 on April 29, 2019, 05:18:37 PM
    Quote from: ETFbitcoin on April 28, 2019, 04:16:18 PM
    The news is vague, it's not clear if those people arrested only because they trade Bitcoin or also involved on another criminal activity.
    Nevertheless, they've seen it coming since Bitcoin is illegal on Bangladesh.
    This is true news because a lot of Bangladeshi national news highlighted https://www.thedailystar.net/backpage/news/police-arrest-3-cryptocurrency-dealers-1735429 Who guys mainly arrested for Bitcoin and i don't think they are involved with other crimes.
    Initially I was more convinced that these people were arrested because of the Bitcoin trading alone, however, it is becoming more apparent that they were involved in more illicit activities that involved fraud, which is likely why they had so many SIM cards, laptops and so. If this is true, it just goes to show that the news is rarely accurate and that crime doesn't pay (or at least pay well).

    I can't blame the Bangladeshi police for arresting these individuals if they were involved in fraud. I don't care what currency you're using, if you're blatantly promising something that you can follow through with, you deserve the arrest.
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