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NewsBreak: Bitcoin Sinks After U.S., South Korea Bust Child Porn Site

Published Oct 16, 2019 10:50AM ET
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Investing.com - Cryptos tumbled on Wednesday after U.S. and South Korean officials said they broke up one of the largest child pornography sites by following a Bitcoin trail.

  • The bust was revealed after the U.S. unsealed an indictment against Jong Woo Son, who allegedly operated a Darknet site that accepted Bitcoin and distributed pornography involving children in more than 1 million videos.

  • Son, a South Korean, is serving 18 months in prison there.

  • Authorities have arrested 337 sites users in 11 countries since the site was closed in March 2018.
    • The case questions the true anonymity of cryptocurrencies.

    NewsBreak: Bitcoin Sinks After U.S., South Korea Bust Child Porn Site
     

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    Comments (9)
    Jeffrey Buehl
    JahLuvGold4All Oct 16, 2019 2:15PM ET
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    Real criminals would use monero.
    Anony mous
    An0nym0us Oct 16, 2019 2:15PM ET
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    is monero the best?
    Grateful Hedge Hedge
    GratefulHedge Oct 16, 2019 2:15PM ET
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    Lol
    DAVID GOLDSTEIN
    DAVID GOLDSTEIN Oct 16, 2019 12:14PM ET
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    Bitcoin “tumbled”? Its dropped, what? 3%? Normal day in crypto.
    Jeffrey Buehl
    JahLuvGold4All Oct 16, 2019 12:14PM ET
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    Hello, thanks for the perspective. Sick of the crypto ded posts.
    robert matthews
    robert matthews Oct 16, 2019 11:58AM ET
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    another day closer to the governments banning crypto for trading.
    ivan dsouza
    ivan dsouza Oct 16, 2019 11:51AM ET
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    Bitcoin's sole purpose is to give false sense of anonymity, and catch these criminals. Bitcoin Tx are traceable and verified publicly.
    Neadom Medina
    Neadom Medina Oct 16, 2019 11:50AM ET
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    1 million videos. That's disgusting. I hope justice gets served.
    Richard Lass
    Richard Lass Oct 16, 2019 11:50AM ET
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    apparently, justice in South Korea is 18 months.
    Jordan Splitter
    Jordan Splitter Oct 16, 2019 11:48AM ET
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    Just wait until you find out about Monero!
    Bin John
    Bin John Oct 16, 2019 11:47AM ET
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    crazy news lol
    Nurudeen Lawal
    Nurudeen Lawal Oct 16, 2019 11:47AM ET
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    Nothing on the internet is anonymous . Stay legal. Easy
    Bruce Hood
    Bruce Hood Oct 16, 2019 11:44AM ET
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    Bitcoin is for criminals. That is the sole use for it, to make following the trail of money more difficult. People are starting to finally realize this!
    John Combs
    John Combs Oct 16, 2019 11:44AM ET
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    Yes. ETH, LTC actual have useful business implications. They should be industry standard
     
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