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25 years max for stealing billions? God bless America. > Lichtenstein and Morgan are charged with conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison, and conspiracy to defraud the United States, which carries a maximum sentence of five years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statut…
It is alleged they stole 119754 BTC, which in 2016 was Could you imagine stealing something that most people thought was a toy. Suddenly it became so valuable that the government could justify who-knows-how-much resources to catch you?
In a hypothetical, if the two did not breach Bitfinex servers (unauthorized access to others systems) but instead managed to "guess" the private key to the Bitfinex wallet and transfer the funds, would this also be a crime? Would this be treated the same way?
In a hypothetical, if the two did not breach Bitfinex servers (unauthorized access to others systems) but instead managed to "guess" the private key to the Bitfinex wallet and transfer the funds, would this also be a crime? Would this be treated the same way?
Are you essentially asking if bitcoin has ownership?
I would assume that using someone else's credentials (wallet private key) without permission to make changes to a system (the bitcoin blockchain) is in itself illegal, yes.
IANAL.
In a hypothetical, if the two did not breach Bitfinex servers (unauthorized access to others systems) but instead managed to "guess" the private key to the Bitfinex wallet and transfer the funds, would this also be a crime? Would this be treated the same way?
In a hypothetical, if the two did not breach Bitfinex servers (unauthorized access to others systems) but instead managed to "guess" the private key to the Bitfinex wallet and transfer the funds, would this also be a crime? Would this be treated the same way?
Computer Fraud and Abuse Act covers any unauthorized access regardless of how the credentials were obtained or... magically guessed.
I ask this every so often during threads regarding stolen cryptocurrency: Is there any solution yet to preventing stolen cryptocurrency funds from being spent? Isn't the only solution to have a central database and require laws to require every transaction to be pre-checked to see if it's stolen funds or not? And not only that, the centralized system will have to be constantly keeping track of wallet mixing to see wh…
The best analogue is cash. If you want to return the cash you need to physically find it and move it back.
fwiw, it appears one of the named here is a YC Alum: https://news.ycombinator.com/user?id=il https://www.linkedin.com/in/unrealdutch/
25 years max for stealing billions? God bless America. > Lichtenstein and Morgan are charged with conspiracy to commit money laundering, which carries a maximum sentence of 20 years in prison, and conspiracy to defraud the United States, which carries a maximum sentence of five years in prison. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statut…
1. The bitcoins were only worth ~$70 million at the time of theft. saying they stole "billions" is highly misleading
2. I don't get it, aren't we supposed to be getting less "tough on crime", especially for non-violent offenses?