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Earlier quoted context omitted.
If they get hold of your wallet's private key, they can seize it in any system.
They are more than welcome to do it if I break any law but I have to say you I'm not. By the way they can seize funds from your or my bank account as well there is nothing special about "crypto" coins they are not outside the law code is not law.
Earlier quoted context omitted.
If they get hold of your wallet's private key, they can seize it in any system.
They are more than welcome to do it if I break any law but I have to say you I'm not. By the way they can seize funds from your or my bank account as well there is nothing special about "crypto" coins they are not outside the law code is not law.
Event 1 as story 2 happens. This always drives me nuts about financial reporting.
Recently I saw a WSJ article where they surprisingly couldn't find a story 2, and so it said something like: stock prices decline as investors sell risky assets Which is almost a tautology, so idunno, maybe that's better than the usual thing, but then scroll down the article and it says bond prices were also down as investors also sold their less risky assets
More detail on how they managed to get access to that password/private key? Edit: I found the bitcoin address https://www.blockchain.com/btc/address/bc1q7eqww9dmm9p48hx5y...
Ransom was paid to darkside
Darkside tries to launder money on blockchain
Through blockchain explorer, the BTC ends up on Coinbase in attempt to liquidate. Coinbase has keys, and hands them over to FBI.
Earlier quoted context omitted.
Yes, it's a dark pattern in journalism. They hint at causation while having plausible deniability. Used to bother me too when I checked Yahoo Finance, every other day the market would be up/down "as" whatever happened that day that might have anything to do with the economy.
To be fair, it's usually pretty hard to say why stock prices change. Even with hindsight. Mostly because anticipation is so important.
The question is, is this a sign that froth in other markets will bubble away after everyone stops diddling in financial markets and gets back to work?
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If it was not hacked then I believe the implication is that the key was cracked. Presumably, via brute force capability of unknown nature or a weakness in Bitcoin not known at this time.
As others have pointed out in another post, you don't reveal that you've broken an important cryptographic algorithm over $2M.
This was about principle and demonstration of capability.
If it is true the US has the ability to calculate BTC wallet keys as fast as it did, the price should fall.
Earlier quoted context omitted.
Indeed. $2.3 million dollars of BTC isn't too much.
It’s not, but it sets the precedent that the FBI will seize bitcoin without any kind of due process when it is able to recover proceeds from a criminal transaction . This jeopardizes the use of Bitcoin as a currency for cross-border criminal transactions which is a large if not majority share of its use case. So it’s easy to see why its value went down — fewer criminals will want to use it.
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> If it was not hacked then I believe the implication is that the key was cracked. Is anyone here willing to say they believe the key was cracked? Seems extremely implausible to me.
I’m open to alternatives, though I have felt that the response to this involved the highest level cyber warfare capabilities of the United States. https://news.ycombinator.com/item?id=27156073 I would not be surprised to find out the US has this capability.