Earlier quoted context omitted.
How do you get the physical envelopes of cash without detection?
Use someone else's address and rob their mailbox.
Federal crime right there. Add conspiracy too.
The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
41–50 of 243 posts
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#42Earlier 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.
Satoshi (and many other OG members of bitcointalk) knew, and tried to improve the protocol. BTC was not set in stone at the beginning. It's just at some point Satoshi disappeared, and moonfags[1] who controlled the capital (miners and exchanges) weren't interested in any technical improvements that may make regulators more angry, causing the end of most innovation in the cryptocurrency space.
[1]Sorry for the very colloquial term, I don't know a better one. I mean people who care about cryptocurrencies only as a speculative "investment".
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#43> But by the time he was in college, he converted some of his digital wealth into $700,000 in cash. He wanted to have a “case full of money like in the movies,” Mr. Zhong said, according to a psychological assessment filed with the court. “He hoped the visual appeal of the cash would impress a female into having sexual relations with him. He stated his plan did not work.”
Hilarious.
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#44I know this battle is already lost, but https://www.cryptoisnotcryptocurrency.com/
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#45Earlier quoted context omitted.
Likely on this basis: https://www.bbc.com/news/technology-35038971.amp
So, one agent was caught and convicted of theft, on an unrelated matter, and this is evidence of corruption? Wouldn't that, in fact, be evidence of a system that is successfully punishing corruption? And since the transaction history is traceable, you cannot posit mysterious other transactions that are unaccounted for. Those would be quickly revealed.
Interesting twitter thread about the corruption in the Silk Road case: https://twitter.com/tayvano_/status/1641927617216655360
> Wouldn't that, in fact, be evidence of a system that is successfully punishing corruption?
I think that's the OP's point? The system (successfully) invested a lot of effort tot punish the corruption.
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#46Earlier quoted context omitted.
But used as intended (not via a KYC exchange) it is pseudonymous, right?
How is that helpful? Get Bitcoin from crime Wash into monero? Pray the tumbler is legit? Wash back into Bitcoin Now what? Bitcoins from tumblers are suspect everywhere with kyc requirements. Sell off books to a Russian oligarch or North Korea I guess?
You can still trade it for goods and services
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#47[flagged]
More like "WAS short for". Yes, Mark Karpales bought it from the original owner, and like PHP and GEICO, things have a way of moving away from their original meaning.
The original Bitcoin client also contained the beginnings of an online poker game, though that was quickly removed.
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#48The statute of limitation for wire fraud is 5 years. How did he get charged under that statute when he stole funds from Silk Road in 2012? Did they charge him for converting BCH into BTC in 2017? I tried to look up the case but couldn't find anything that shed a light on that.
I’ve wondered about how crimes can seemingly be an instantaneous event with no duration, or can be ongoing for a while.
Crime as an event. Crime as a state. ;)
Is it perhaps that by continuing to act on the proceeds from crime, the individual(s) are prolonging or tacking on additional crimes?
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#49Earlier 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.
You also have to contend with a terrible conversion rate.
Re: The U.S. cracked a $3.4B crypto heist and Bitcoin’s anonymity
#50The statute of limitation for wire fraud is 5 years. How did he get charged under that statute when he stole funds from Silk Road in 2012? Did they charge him for converting BCH into BTC in 2017? I tried to look up the case but couldn't find anything that shed a light on that.
> The statute of limitation for wire fraud is 5 years. How did he get charged under that statute when he stole funds from Silk Road in 2012?
This is a very simplistic view and this mistake is made a lot. There are several reasons why the statute of limitations could either be longer than 5 years or not yet expired even though it is 5 years:
- Tolling. This is when the suspect exits your jurisdiction, preventing you from apprehending them. If the statute of limitations really is 5 years, and you leave the country 4 years after the act; even if you stay abroad for a year, or 5 years, or 20 years, the clock only resumes when you return. You can still be charged 24 years after committing the offense.
- Furtherance. Put simply, if you continue to engage in the activity, the statute of limitations is reset. For example, this article describes his repeated moving of the assets after the initial theft in order to avoid detection.
- Special Circumstances. In this case, there are exceptions that mean that the statute of limitations is not actually 5 years.
It's not clear which of these apply. I would definitely bet on option #2. If he spent any time outside of the country, also apply option #1. If any of the special circumstances defined in the law apply, also apply option #3.