2016/10/07 9:56 AM
Texas police arrested Backpage.com CEO Carl Ferrer on Thursday and will move to shut down the site. The classified ad site is accused of human trafficking through its adult services section, which reportedly makes 90 per cent of its revenues.
Also read: A Guide to Bitcoin and Cryptocurrencies
The arrest was a joint operation between the Texas and California attorneys-general offices.
This case does not accuse anyone of providing or paying for adult services with bitcoin. However, digital currency was a popular payment method for site advertisers who could not use mainstream payment channels.
Bitcoin brokerage Paxful produced this video, pointing out ways advertisers can acquire bitcoin by first purchasing gift cards with cash, and exchanging with other site users.
The narrator says Bitcoin’s advantages are protecting privacy and family members’ anonymity, and avoiding financial censorship for legitimate…