Experts cracked laptop of crypto CEO who died with $137M, but the money was gone • Hacker News Board

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#201

Post by marcus_holmes » Thu, Mar 07, 2019, 2:41 AM UTC

vageli wrote: post #192

this_user wrote: post #132

Earlier quoted context omitted.

> These guys are not regulated. There is no transparency. There are no external auditors. There is no control. But that's a feature, not a bug, at least according to the crypto people. But, so far, all they have managed to do is rediscover lessons about the need for regulation, oversight and accountability that the financial industry has learnt decades or even centuries ago.

> > These guys are not regulated. There is no transparency. There are no external auditors. There is no control. > But that's a feature, not a bug, at least according to the crypto people. But, so far, all they have managed to do is rediscover lessons about the need for regulation, oversight and accountability that the financial industry has learnt decades or even centuries ago. I feel this is only true for people wh…

ah, but then they'd be fools for just using one tool. Against the ethos! You need 30,000 tools, obviously.

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#202

Post by 908087 » Thu, Mar 07, 2019, 2:53 AM UTC

tim333 wrote: post #102

uberman wrote: post #3

For some reason this sounds like the plot of a movie starring Leonardo DiCaprio. CEO of Crypto Company... 1) Takes time off to build orphanage in region noted for fake deaths. 2) Subsequently dies unexpectedly. 3) Is immediately cremated. 4) Wife waits a month before saying "oh by the way he is dead" 5) Wife claims all keys on encrypted laptop 6) World watches as wallets mysteriously empty 7) Experts crack laptop 8)…

And the widow is left with just the 17 properties, 2 cars, yacht and plane that he earned through honest hard work. Another thing you could work into the plot is $9m appears to be with WB21 "Banking Redefined" which claimed a million users but was discovered to only have 135 downloads of its app (now removed), is run by a convicted fraudster and was awarded "Global Banker Award 2018" in a black tie ceremony that they…

That "award" ceremony video is both surreal and ridiculously cringe-inducing at the same time. It wouldn't surprise me if he actually felt like he had "achieved" something when he gave himself that award, either.

It was like you were watching his fantasy of what people would say about him if he was a productive member of society instead of a criminal and fraud.

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#203

Post by harrumph » Thu, Mar 07, 2019, 3:06 AM UTC

astrodust wrote: post #151

mv4 wrote: post #89

Earlier quoted context omitted.

Back in 2015 two rogue U.S. Secret Service agents, Shaun Bridges and Carl Mark Force, were caught and sentenced to prison for stealing funds while investigating the first high profile darknet market the Silk Road. Shaun Bridges plead guilty for moving 1,600 bitcoins of seized bitcoins confiscated by federal authorities.

You can't steal in the course of an investigation what was already stolen as part of the crime.

> You can't steal in the course of an investigation what was already stolen as part of the crime.

Sorry, what?

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#204

Post by retsibsi » Thu, Mar 07, 2019, 3:08 AM UTC

marcus_holmes wrote: post #201

vageli wrote: post #192

Earlier quoted context omitted.

> > These guys are not regulated. There is no transparency. There are no external auditors. There is no control. > But that's a feature, not a bug, at least according to the crypto people. But, so far, all they have managed to do is rediscover lessons about the need for regulation, oversight and accountability that the financial industry has learnt decades or even centuries ago. I feel this is only true for people wh…

ah, but then they'd be fools for just using one tool. Against the ethos! You need 30,000 tools, obviously.

You think you're safe with your 30,000 tools -- yet all of your crypto funds are in bitcoin? Centraliser. I spread my wealth across 30,000 different currencies.

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#205

Post by dnautics » Thu, Mar 07, 2019, 3:19 AM UTC

Carpetsmoker wrote: post #171

icebraining wrote: post #168

Earlier quoted context omitted.

Considering 2008, what's the point of those lessons? Might as well save a few tax dollars on "regulators".

The banking crisis happened in large part due to lack of regulation, not because of them.

I'm not sure. I'd say the banking crisis was catalyzed by the lack of regulation, but it was going to happen anyways. The whole thing was largely a result of political pressure to create incentives for a home ownership society, and, if you go deeper, a result of political pressure fostering a growth-at-all-costs economic system that will periodically hit societal resource and efficiency limits, regulations be damned.

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#206

Post by puranjay » Thu, Mar 07, 2019, 3:21 AM UTC

mirimir wrote: post #178

dwighttk wrote: post #135

Earlier quoted context omitted.

There are governments that can knock you over the head and take your wallet right after you unlock it.

They can only do that if they know who you are. So make sure that they don't!

Oh they already know who you are. Too late to fight that fight

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#207

Post by billsnow » Thu, Mar 07, 2019, 3:22 AM UTC

vageli wrote: post #192

this_user wrote: post #132

Earlier quoted context omitted.

> These guys are not regulated. There is no transparency. There are no external auditors. There is no control. But that's a feature, not a bug, at least according to the crypto people. But, so far, all they have managed to do is rediscover lessons about the need for regulation, oversight and accountability that the financial industry has learnt decades or even centuries ago.

> > These guys are not regulated. There is no transparency. There are no external auditors. There is no control. > But that's a feature, not a bug, at least according to the crypto people. But, so far, all they have managed to do is rediscover lessons about the need for regulation, oversight and accountability that the financial industry has learnt decades or even centuries ago. I feel this is only true for people wh…

Yeah, if only there was a tool for managing 30,000 wallets in a centralized way, then it would be more obvious why decentralization makes the need for regulation moot.

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#208

Post by harrumph » Thu, Mar 07, 2019, 3:24 AM UTC

tim333 wrote: post #102

uberman wrote: post #3

For some reason this sounds like the plot of a movie starring Leonardo DiCaprio. CEO of Crypto Company... 1) Takes time off to build orphanage in region noted for fake deaths. 2) Subsequently dies unexpectedly. 3) Is immediately cremated. 4) Wife waits a month before saying "oh by the way he is dead" 5) Wife claims all keys on encrypted laptop 6) World watches as wallets mysteriously empty 7) Experts crack laptop 8)…

And the widow is left with just the 17 properties, 2 cars, yacht and plane that he earned through honest hard work. Another thing you could work into the plot is $9m appears to be with WB21 "Banking Redefined" which claimed a million users but was discovered to only have 135 downloads of its app (now removed), is run by a convicted fraudster and was awarded "Global Banker Award 2018" in a black tie ceremony that they…

> black tie ceremony

OMG that trophy is indistinguishable from any other tacky chunk of lucite that, say, a particularly motivated carpet distributor might earn as a sales award.

Not to insult carpet distributors, whose work with tangible goods is worth at minimum 500x more than what any fintech slob contributes to the world.

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#209

Post by Amelorate » Thu, Mar 07, 2019, 3:24 AM UTC

retsibsi wrote: post #204

marcus_holmes wrote: post #201

Earlier quoted context omitted.

ah, but then they'd be fools for just using one tool. Against the ethos! You need 30,000 tools, obviously.

You think you're safe with your 30,000 tools -- yet all of your crypto funds are in bitcoin? Centraliser. I spread my wealth across 30,000 different currencies.

You're forgetting. All these are cryptocurrencies. You need to have more than that. I own 30,000 different kinds of assets. Stocks, bonds, crypto, I even own all of the funds. You're suffering from way too much centralization.

Re: Experts cracked laptop of crypto CEO who died with $137M, but the money was gone

#210

Post by AYBABTME » Thu, Mar 07, 2019, 3:33 AM UTC

vageli wrote: post #192

this_user wrote: post #132

Earlier quoted context omitted.

> These guys are not regulated. There is no transparency. There are no external auditors. There is no control. But that's a feature, not a bug, at least according to the crypto people. But, so far, all they have managed to do is rediscover lessons about the need for regulation, oversight and accountability that the financial industry has learnt decades or even centuries ago.

> > These guys are not regulated. There is no transparency. There are no external auditors. There is no control. > But that's a feature, not a bug, at least according to the crypto people. But, so far, all they have managed to do is rediscover lessons about the need for regulation, oversight and accountability that the financial industry has learnt decades or even centuries ago. I feel this is only true for people wh…

30,000 wallets using 30,000 independent methods of encryption, else you crack one, you cracked many. It's clearly not practical or achievable for any human being.