$7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just been moved

Post by ajkdhcb2 » Wed, Apr 14, 2021, 9:23 PM UTC

tromp wrote: post #56

ajkdhcb2 wrote: post #52

Funds like this can be frozen when 51% of mining pools start censoring transactions. Pools are now beginning to do this. I expect there will be a lot of BTC like this that starts to realise they need to be trying to dump it / escape into monero as quickly as they can

There's a difference between pools not accepting txs in their mempool, and pools refusing to build on other miners' blocks that contain them. Pools are beginning to do the former (which doesn't cost them), not the latter (which would cost them dearly). Only if a majority of hashpower does the latter will censoring be effective (and then no longer cost them again).

Post by ianmcgowan » Wed, Apr 14, 2021, 9:25 PM UTC

myself248 wrote: post #78

Geeflow wrote: post #71

Earlier quoted context omitted.

Actually, some people do. There are tools like EuroBillTracker ( https://en.eurobilltracker.com/ ) where you can enter the serial number of bills that you received and can watch them travel around the world. If someone else tracks them as well, that is. I entered 31 serial numbers over the last 15 years. Those haven't been seen again so far. I guess it's not the right kind of game for me... :)

I played with Where's George? for a few minutes, then got bored. None of these things seem to have enough adoption to make it interesting. If there were money in it, someone would throw OCR at the problem. Say, attach prizes to certain bills, or finding certain patterns of bills (say, two bills whose serial numbers are mathematically related a certain way).

Post by qeternity » Wed, Apr 14, 2021, 9:33 PM UTC

Post by cyberpunk » Wed, Apr 14, 2021, 9:33 PM UTC

Osiris wrote: post #96

nknealk wrote: post #8

Here’s an interesting question — if you receive BTC from one of these addresses as payment for something, do you refuse it? You know it’s stolen and you might worry someone else who you might pay in the future would be able to track down that it’s stolen, so do you ask for “clean” BTC that isn’t linked to known theft? I don’t necessarily know the answer here. This is something that you can’t do with paper bills

I work at a distributed exchange and we have a blacklist. if funds are sent in from an address that's blacklisted we hold it and don't send them the other half. I don't know what the business does with those coins after that but there is a compliance team so I assume it's properly handled.

Post by arcticbull » Wed, Apr 14, 2021, 9:34 PM UTC

qeternity wrote: post #116

“Stolen” This is Bitfinex we’re talking about. It’s a company run by criminals.