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

Published 16/10/2019, 15:50
Updated 16/10/2019, 15:59
© 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

    No odea
    Part of bitcoin value is derived by its anonymity. This has been called into question, thus affecting its price
    but I think, why prise is down by that news? If this work could have been done in dollars also, would the price of that currency have come down?
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