Too Long; Didn't Read
When it first emerged, Bitcoin was widely considered to be a vehicle for laundering money and trafficking illegal substances and weapons. The notorious dark web black market, Silk Road, which was launched in 2011, was accused of facilitating the sale of $1 billion in illegal drugs. At the peak of the ICO bubble of 2017-2018, thousands of investors were defrauded by conmen trying to capitalize on the crypto craze. One of CoinMarketCap’s best-performing coins, BitConnect, turned out to be another pyramid scheme before it collapsed, leaving its token holders with nothing.