The surge of bitcoin last year has been unprecedented, for a digital currency that started at just over a thousand dollars in value(for one bitcoin) in January last year to an all time high of nineteen thousand in December, it has really been extraordinary.
With every successful venture there is bound to be hurdles and one of such is the fear that the Bitcoin may be used for fraudulent activities.
The Sydney Morning Herald reported over the weekend that Cryptocurrency trader and Youtuber Alex Saunders called out National Australia Bank (NAB), ANZ, the Commonwealth Bank of Australia and Westpac Banking Corporation on Twitter for freezing customer accounts and transfers to four different bitcoin exchanges – CoinJar, CoinSpot, CoinBase and BTC Markets.
A spokesman from Commonwealth Bank confirmed the freezes by saying that "because the destination account previously has been connected to a fraud or an attempted fraudulent transaction or is an account used to facilitate payments to Bitcoins or similar virtual currency payment services".
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