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

Published 10/16/2019, 10:50 AM
Updated 10/16/2019, 10:52 AM
© Reuters.

© Reuters.

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.

    Latest comments

    Real criminals would use monero.
    is monero the best?
    Lol
    Bitcoin “tumbled”? Its dropped, what? 3%? Normal day in crypto.
    Hello, thanks for the perspective. Sick of the crypto ded posts.
    another day closer to the governments banning crypto for trading.
    Bitcoin's sole purpose is to give false sense of anonymity, and catch these criminals. Bitcoin Tx are traceable and verified publicly.
    1 million videos. That's disgusting. I hope justice gets served.
    apparently, justice in South Korea is 18 months.
    Just wait until you find out about Monero!
    crazy news lol
    Nothing on the internet is anonymous . Stay legal. Easy
    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!
    Yes. ETH, LTC actual have useful business implications. They should be industry standard
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