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DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

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Re: DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

#251

Post by hdseggbj »

pyrale wrote: post #75
yhager wrote: post #48

Earlier quoted context omitted.

> Cambodia's specifically 30-50% of the economy can be directly attributed to scamming plus casinos Are you saying that 30-50% of Cambodia's economy can be directly attributed to scamming and casinos? I find that shocking and hard to believe. Do you have a source for that statement?

First off, the amount seized was not necessarily made in a year. Second, most of the money would not make it to the Cambodian economy. It is likely laundered abroad. The whole operation is likely multinational, with only the workforce located in Cambodia.

You don't have to launder money when the leader of the country is involved.

Re: DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

#252

Post by 111111101101 »

ozgrakkurt wrote: post #43
yellow_lead wrote: post #42

Earlier quoted context omitted.

It may not be a hack, but a warrant like 'Hey Google, give us access to this guy's Gmail.'

You can’t get a warrant for a bitcoin wallet right?

A surprising number of 'sophisticated' criminals backup their seed phrase to the cloud.

Re: DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

#253

Post by skrebbel »

bugbuddy wrote: post #239
timtom123 wrote: post #217

Earlier quoted context omitted.

Spent significant time in Vietnam & Cambodia & Thailand. Cambodia is a sad country full of desperate people. "less-policed" is the entire country. ~50 years since https://en.wikipedia.org/wiki/Cambodian_genocide . Vietnam was by far my favorite of the three and the contrast between the three countries is stark.

[flagged]

> * To call a country full of any type of people is the definition of racism*

This is bullshit. This kind of stuff isn’t black and white. Am I racist for calling Monaco a place full of rich people? Of course not, I’m describing the situation people are in, not their characters. Same holds here.

Re: DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

#254

Post by pants2 »

reverendjames wrote: post #179
BitWiseVibe wrote: post #152

I'm curious how the Bitcoin was actually seized, given that the indictment says the perp is still at large and held the Bitcoin in self custodied wallets.

He has the key written on a piece of paper in his wallet. The US government has his wallet. And his Bitcoin.

So he was effectively carrying $15B in his wallet? That's insane. I don't even carry more than $100 cash.

Re: DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

#255

Post by georgemcbay »

JonChesterfield wrote: post #146

The point of bitcoin was that it can't be taken off you by the state. So either this was severe user error, to the tune of why aren't the keys somewhere secure when there's a billion dollars behind them, or the nominal reason for bitcoin existing is nonsense. We thinking user error or crypto is nonsense? On the forum I expect the former.

Crypto is nonsense for a lot of its stated purposes once you strip away the shared delusions that have been propped up by us living in a fairly stable global society that at least goes through the motions of supporting the rule of law (though this is obviously changing quickly in some places recently).

But then again holding some piece of paper (or a database entry) that says you own some gold that you don't actually have in your possession is equally nonsense that also works until it doesn't.

Re: DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

#256

Post by SXX »

anticodon wrote: post #181
yhager wrote: post #48

Earlier quoted context omitted.

> Cambodia's specifically 30-50% of the economy can be directly attributed to scamming plus casinos Are you saying that 30-50% of Cambodia's economy can be directly attributed to scamming and casinos? I find that shocking and hard to believe. Do you have a source for that statement?

Cambodia is a small country with no natural resources of any kind. Even to grow rice you need diesel for tractors and fertilizers that are produced from natural gas using energy (which Cambodia lacks). There's very few opportunities for a small country without resources.

And to grow rice you need to somehow get rid of US bombs that majority of Cambodia soil is very well fertilized with.

Between 1965 and 1973 US dropped 2,756,941 tones of bombs on 113,717 sites in Cambidia. Thats more bombs than all allies together used in all of World War II.

Tens of people still getting killed by them every year.

https://gsp.yale.edu/sites/default/files/walrus_cambodiabomb...

Re: DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

#257

Post by goatsi »

ChrisMarshallNY wrote: post #231
cjonas wrote: post #228

Earlier quoted context omitted.

There's an interesting "Search Engine" podcast (in English)[0]. Apparently a lot of the people doing the actual scamming are human trafficked and being held in compounds against their will. [0] https://www.searchengine.show/whos-behind-these-scammy-text-...

From what I understand, a number of them are Chinese nationals. I suspect that taking Chinese slaves might not be a great idea. China tends to carry a big stick; especially in that region. Wouldn't surprise me, if the DOJ had some "under-the-table" help from Chinese sources, but not in any way that anyone can prove. If you don't want to sign up for a podcast, John Oliver did a fairly decent bit about it: https://www.…

China permitted/sponsored rebels to seize a decent chunk of the Myanmar side of the Chinese/Myanmar border after a number of Chinese citizens (allegedly including some undercover Chinese police) were killed in a scam compound there.

https://en.wikipedia.org/wiki/Operation_1027

Re: DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

#258

Post by [deleted] »

idiotsecant wrote: post #234
Cthulhu_ wrote: post #147

Earlier quoted context omitted.

Compared to Cambodia, sure, but it's an international crime gang, with this particular one being just one branch. I wonder if this was their biggest hoard or if they had more? Really poor financial management to have all that money concentrated that much though. It either means they dropped the ball bigly, or this is spare change for them... although Bitcoin's market cap is $2.24 trillion at the moment, $15 billion i…

The difference between 15 billion and 2.24 trillion is pretty much 2.24 trillion. I'm not sure there is a definition of the word where this is true .

[deleted]

Re: DOJ seizes $15B in Bitcoin from 'pig butchering' scam based in Cambodia

#260

Post by unyttigfjelltol »

ctxc wrote: post #235
parthdesai wrote: post #232

Earlier quoted context omitted.

> Spent significant time in Vietnam & Cambodia & Thailand. Cambodia is a sad country full of desperate people. Probably should also include which country is responsible for the current condition of the country. https://www.goodreads.com/quotes/1175241-once-you-ve-been-to...

Content: "Once you’ve been to Cambodia, you’ll never stop wanting to beat Henry Kissinger to death with your bare hands. You will never again be able to open a newspaper and read about that treacherous, prevaricating, murderous scumbag sitting down for a nice chat with Charlie Rose or attending some black-tie affair for a new glossy magazine without choking. Witness what Henry did in Cambodia – the fruits of his geni…

Pol Pot probably was more proximally at fault.[1]

[1] https://en.wikipedia.org/wiki/Pol_Pot

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