Underworld don Dawood Ibrahim has reportedly been using ‘Bitcoins’ to keep illegal trade under wraps.
The cryptocurrency system works without a central bank or single administrator and it becomes easy for people to complete the transaction without the authority noticing.
He is using bitcoins to pay salaries and also deal with real estate and his drugs and arms business. According to Dawood’s brother Iqbal Kaskar, Dawood has purchased 1500 Bitcoins where each Bitcoin is equivalent to 15,000 USD.
Transferring cash is never easy so the gangster chose the Bitcoin way.
This is not a welcome sign as the agencies could face problems now in tracking transactions.
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