111–120 of 421 posts
Edit: Wow, people really don't want to know how many Bitcoins were seized :)
Gentle reminder that the presence of a strong democratic regime with law and no bribes keeps the world a better place.
Once the US becomes corrupted at this scale we are doomed to this bullshit.
Wow. $15 billion is an astronomical, nearly unfathomable amount of money in Cambodia. This must have been a huge operation. It's almost 1/3 of the country's entire GDP! Well done DOJ. Hopefully the victims get their money back.
Wait, hold on, I thought the promise of crypto was that: 1. The feds can't take your money. 2. Once your money's gone, it's gone. If criminals can't count on #1 holding true, and their victims can't count on #2 holding true, what is even the point of it?
There's no thing that the feds can't have because they have an infinite amount of sanctions violence and tools at their disposal to make anyone do what they want, one way or another.
Wow. $15 billion is an astronomical, nearly unfathomable amount of money in Cambodia. This must have been a huge operation. It's almost 1/3 of the country's entire GDP! Well done DOJ. Hopefully the victims get their money back.
$15 billion is a huge number to be sure, but it's unclear from the article how many years it took to acquire.
It's 127,271 Bitcoins. Interesting choice not to mention the number of Bitcoins but use its current market value in USD. I feel like this says something about Bitcoin but not sure what exactly. Edit: Wow, people really don't want to know how many Bitcoins were seized :)
Just as you could not sell 127,271 bitcoins all at once at market value, you could not just sell cocaine worth $1.4 billion but still confiscated drugs, even in large quantities, are reported with end consumer market rates. Nowadays, if a report mentions that is talking about "street value", that is already a big plus in my book.
Wow. $15 billion is an astronomical, nearly unfathomable amount of money in Cambodia. This must have been a huge operation. It's almost 1/3 of the country's entire GDP! Well done DOJ. Hopefully the victims get their money back.
> 1/3 of the country's entire GDP $15 billion is a huge number to be sure, but it's unclear from the article how many years it took to acquire.
Long overdue. At some point, these scam operations are so large that they have to be operating with tacit approval of their host countries, who have been given no incentive to stop the virtual cold war against the personal finances of foreign citizenry that is bringing in millions of dollars into their economy.
> the virtual cold war against the personal finances of foreign citizenry Comparing a scam to war is inaccurate. The Cold War was a war running cold with the potential to go hot. Cambodia and America are not going to war over this.
> Zhi and a network of top executives in the Prince Group are accused of using political influence in multiple countries to protect their criminal enterprise and paid bribes to public officials to avoid actions by law enforcement authorities targeting the scheme, according to prosecutors. Gentle reminder that the presence of a strong democratic regime with law and no bribes keeps the world a better place. Once the US…
I'm not sure how you can pull out of it without jailing a significant fraction of the Republican party (and quite a few elderly Democrats). Plenty of people around Trump got jailed and that didn't make a difference.
Earlier quoted context omitted.
It's not hard to believe that a small country can have a vastly oversized economy due to finance - legal or illegal.
An example of a legal one is the UK
"The UK government says it has frozen assets owned by his network, including 19 properties in London - one of which is worth nearly £100m ($133m)."