is there a statute of limitation on ransom crimes such as these?
A 96 Bitcoin ransom payment ends up on Bitfinex
61–70 of 126 posts
Re: A 96 Bitcoin ransom payment ends up on Bitfinex
#62To think someone would take all this time to set up ransomware and successfully get 96 BTC out of a ransom only to be using a Bitfinex account.
Re: A 96 Bitcoin ransom payment ends up on Bitfinex
#63The article brings up an interesting legal point as to whether bitcoin will be afforded the special legal status of paper cash that protects innocent recipients who accept stolen money ... but really paper cash has no such protections when you're talking about millions of dollars of it, so the point is entirely moot.
Re: A 96 Bitcoin ransom payment ends up on Bitfinex
#64Fascinating and also good news IMHO as it starts to highlight that bitcoins can be tracked and today a stolen mobile phone can be blocked and logged upon a database as stolen, so could bitcoins. I'm thinking that there is a need/opportunity to be able to register bitcoins as stolen and if vendors used that database, the whole raft of bitcoins used for nefarious activities and more so stolen ones, can be curtailed. Co…
Criminals will easily solve the problem by simply using privacy coins like monero.
Maybe this one did, and the recipient used a Bitfinex account
Re: A 96 Bitcoin ransom payment ends up on Bitfinex
#65Earlier quoted context omitted.
The thing is that 96 bitcoin could be thrown through a mixer of sorts. Take the 96 bitcoin, split it into 96 different addresses with 1 bitcoin, then mix those 96 individual addresses to multiple new addresses and then reassemble them elsewhere. This is a horrible explanation, but explains the general idea. You could also mix from Bitcoin to Monero or another currency and back again through various pairs. There are l…
If we follow the stolen-property example, if a stolen car is broken up and sold as parts, and I buy a widget from it, the fact the car was broken into 96 bits doesn't make the widget any less stolen, no matter how many hands it passes through.
[deleted]
Re: A 96 Bitcoin ransom payment ends up on Bitfinex
#66Fascinating and also good news IMHO as it starts to highlight that bitcoins can be tracked and today a stolen mobile phone can be blocked and logged upon a database as stolen, so could bitcoins. I'm thinking that there is a need/opportunity to be able to register bitcoins as stolen and if vendors used that database, the whole raft of bitcoins used for nefarious activities and more so stolen ones, can be curtailed. Co…
Criminals will easily solve the problem by simply using privacy coins like monero.
Exactly. Additionally, not everyone wants to take their money to the off ramp. This also creates a conundrum for exchanges. If they punish any user with a descendant of any "dirty" coin, it hurts the market and people's willingness to accept crypto at all. If no one is buying and selling crypto, they have no business.
Re: A 96 Bitcoin ransom payment ends up on Bitfinex
#67Is ransom payment even considered "stolen" in the usual sense? You have willingly paid that, nobody took that from you without permission. I wouldn't be surprised if ransom has it's own different definition.
Forcing an innocent to hand over bitcoins they had no clue they were tainted will make everyone lose trust in bitcoin and cryptocurrencies in general. What's the point of anonymity when trading when you're culpable for wherever that currency came from.
Re: A 96 Bitcoin ransom payment ends up on Bitfinex
#68Earlier quoted context omitted.
> 96 bitcoin could be thrown through a mixer One, mixer output could be, by default, added to the registry as laundering proceeds. Or two, the subunits could be traced through the mixer, thus retaining their black marks.
Many upstanding people—and even large companies like payment processors!—process their received funds through a mixer “just to be safe”, i.e. to escape any coincidental untoward paper-trail that attaches to their funds two or three steps back. You know how they say that every US dollar bill has a little cocaine on it? Using your suggestion, every dollar bill would be marked tainted as drug proceeds.
That's as dumb as laundering clean money “just to be safe” or covering up a crime you didn't commit “just to be safe” (hey Reiser). If your coins are clean, mixers make them dirtier and this has been known all along.
Re: A 96 Bitcoin ransom payment ends up on Bitfinex
#69Is ransom payment even considered "stolen" in the usual sense? You have willingly paid that, nobody took that from you without permission. I wouldn't be surprised if ransom has it's own different definition. Forcing an innocent to hand over bitcoins they had no clue they were tainted will make everyone lose trust in bitcoin and cryptocurrencies in general. What's the point of anonymity when trading when you're culpab…
Yes wrecking trust in cryptocurrencies would be an excellent outcome for everyone. And there is no true anonymity (never has been).
Re: A 96 Bitcoin ransom payment ends up on Bitfinex
#70I think this year we will see the first international orders to miners do not process some addresses and freeze that coins. I know a lot of here thinks, that it's not possible, but bitcoin has only a few big miners. And if they will get orders they will have to comply or fight it in courts. It's not possible to mine anonymously, because you need hundreds of millions to invest into miners and a lot of power.