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The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity

wsj.com

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Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity

#21

Post by nanidin »

NotYourLawyer wrote: post #16
paulpauper wrote: post #4

Zhong was caught because he made basic operational security errors, like address reuse (which is how he was caught by linking fraud wallet to exchange wallet) , static IP, using a KYC exchange in 2017 to convert BCH into BTC, etc. Not because Bitcoin was cracked. After being caught, Zhong voluntarily relinquished his passwords to encrypted wallets and other bitcoin, not that the crypto was cracked. I wonder how the f…

> he was caught by linking fraud wallet to exchange wallet How are you supposed to turn fraudulently obtained btc into dollars without doing that?

I believe you can buy envelopes of cash on the darknet - though then you’re probably at high risk of receiving counterfeits or running into a sting.

Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity

#23

Post by jeffy90 »

nanidin wrote: post #21
NotYourLawyer wrote: post #16

Earlier quoted context omitted.

> he was caught by linking fraud wallet to exchange wallet How are you supposed to turn fraudulently obtained btc into dollars without doing that?

I believe you can buy envelopes of cash on the darknet - though then you’re probably at high risk of receiving counterfeits or running into a sting.

How do you get the physical envelopes of cash without detection?

Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity

#24

Post by berkle4455 »

fsckboy wrote: post #20
phyzome wrote: post #19

Say it with me: "Bitcoin is not, and never was, anonymous."

better if you could go back and time and have said it early on with the early crypto enthusiasts

they didn’t listen then and they don’t listen now. waste of effort.

Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity

#25

Post by kenbaylor »

nwah1 wrote: post #15
atdrummond wrote: post #11

The US invested so much effort into this because they were worried that their own agents were involved with the theft. This was all part of their effort to clean up the massive corruption post-Silk Road seizure.

On what basis do you make this statement?

Likely on this basis: https://www.bbc.com/news/technology-35038971.amp

Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity

#27

Post by mynameishere »

jeffy90 wrote: post #23
nanidin wrote: post #21

Earlier quoted context omitted.

I believe you can buy envelopes of cash on the darknet - though then you’re probably at high risk of receiving counterfeits or running into a sting.

How do you get the physical envelopes of cash without detection?

Use someone else's address and rob their mailbox.

Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity

#28

Post by hailwren »

berkle4455 wrote: post #24
fsckboy wrote: post #20

Earlier quoted context omitted.

better if you could go back and time and have said it early on with the early crypto enthusiasts

they didn’t listen then and they don’t listen now. waste of effort.

I think you are projecting your beliefs onto them. Mixers, privacy chains, and ZK privacy schemes have all been implemented because everyone in crypto acknowledges the lack of privacy.

The WSJ on the other hand…

Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity

#30

Post by bluGill »

hailwren wrote: post #28
berkle4455 wrote: post #24

Earlier quoted context omitted.

they didn’t listen then and they don’t listen now. waste of effort.

I think you are projecting your beliefs onto them. Mixers, privacy chains, and ZK privacy schemes have all been implemented because everyone in crypto acknowledges the lack of privacy. The WSJ on the other hand…

You are confusing the enthusiasts with the people who understand crypto. Both groups existed, but the enthusiasts group made many claims that anyone who had even minimal understanding didn't believe.
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