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

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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.
    • (BitfinexUSD) fell 4.3%, while ETH/USD tumbled 6.3% and XRP was down 5.1%.
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