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

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331–340 of 421 posts

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

#331

Earlier quoted context omitted.

[flagged]

> I did not call him a racist. I said his statement could be understood as racist This postmodern redefinition of racism really needs to be discarded. It’s done so much damage by giving actual racists cover, since if everyone is racist then racism isn’t a problem.

Negative racial stereotype as a definition of racism is the classical definition of racism. There is nothing postmodern about it.

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

#332

Earlier quoted context omitted.

While the USD value is important, this puts the number in perspective, since only 21M BTC can ever exist (and a good number of them are out of circulation for various reasons).

so many hard drives in so many landfills where we thought "hell, it's only $20 in btc, hardly worth reclaiming" I'm proud to say that I was able to acquire about $100 worth of product from the dark web using only what would turn out to be several hundred thousand dollars in bitcoin, so at least mine are still in circulation

There's a cool million in some landfill in rural MO, because I did exactly that.

It's funny to imagine how much the one "random act of pizza" I contributed multiple BTC that I mined on my Dell Dimension Pentium machine (worth multiple pennies USD then) is worth now.

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

#333

Earlier quoted context omitted.

> I did not call him a racist. I said his statement could be understood as racist This postmodern redefinition of racism really needs to be discarded. It’s done so much damage by giving actual racists cover, since if everyone is racist then racism isn’t a problem.

Negative racial stereotype as a definition of racism is the classical definition of racism. There is nothing postmodern about it.

> Negative racial stereotype as a definition of racism is the classical definition of racism

It wasn’t racial stereotyping. It was stereotyping a country’s population as sad and desperate. Saying X country’s quality of life sucks isn’t racist.

If they’d said or implied Cambodian Americans are also sad and desperate, sure. But they didn’t.

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

#334

Btw this is low-key the reason why Cambodia almost went to war with Thailand recently. In particular what's interesting is that how quickly Cambodia repurposed scam center employees as internet trolls. They're onto a really powerful golden goose here that not only brings in 15B usd but also empowers the current dictatorship. But also it's a pit of doom that is destined to erupt anytime now.

At this point its accurate to say the Cambodian leadership have completely been subjugated through corruption and that they are no longer running the country but Chinese OCGs who are affiliated with CCP and that they are probably influencing it at a state level on all matters. We are seeing similar attempts in other Southeast Asian countries and even Korea but Cambodia seems like an outlier. It's sad that not enough…

> At this point its accurate to say the Cambodian leadership have completely been subjugated through corruption and that they are no longer running the country but Chinese OCGs who are affiliated with CCP and that they are probably influencing it at a state level on all matters.

What are some news related to this?

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

#335

Earlier quoted context omitted.

[flagged]

> Negative stereotyping of a whole group is racism I’m not in Cambodia. The only way I can relate to its people is by stereotyping. Saying we can’t negatively stereotype basically says you can only have positive opinions about this country or you’re a racist, which is absurd.

> Saying we can’t negatively stereotype basically says you can only have positive opinions about this country

This logical fallacy is a False Dichotomy (also known as a False Dilemma or Black-and-White Fallacy).

This fallacy occurs when an argument incorrectly presents two opposing options as the only possibilities, when in fact a wide range of other options exist.

How it applies to the statement: The statement "Saying we can’t negatively stereotype basically says you can only have positive opinions about this country" creates a false choice between:

Option A: Engaging in negative stereotypes. Option B: Only having positive opinions. This completely ignores the vast and reasonable middle ground, which is legitimate, specific criticism.

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

#336
post #46

Do they force you to reveal your private keys? After obtaining the bitcoins, are they forced to sell it immediately? How does this affect the market?

Typically, they need to get a conviction in court to actually do anything with the seized funds. At the moment, they don't even have the guy in custody.

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

#337
post #6

So in these cases of government seizing bitcoin, the people they seize from have unencrypted private keys? The article just says "private keys the defendant had in his possession" does this mean he was holding onto private keys that had no passwords / encryption at all that unlocked $15B? Or does the government have an alternative way of "seizing" bitcoin? I remember years ago people throwing around conspiracy theori…

The forfeiture complaint [1] says: > Chen personally maintained records of the wallet addresses and seed phrases associated with the private keys for each. So he wrote the passwords down, basically. [1] https://storage.courtlistener.com/recap/gov.uscourts.nyed.53...

They should not have revealed these details... now criminals know how to avoid the same fate.

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

#338
It took 10 years for Madoff victims to get most of their money back and he was literally just depositing the money into his checking account. He also almost certainly had much fewer victims than this guy did. Based on the complaint I think there may be a large number of international victims as well. This case will really test whatever claims process the DOJ has but hopefully some measure of compensation can be reached quickly. I suspect there are tens of thousands of scam domains and different addresses used so even identifying who to notify will probably be extremely difficult.

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

#339

Earlier quoted context omitted.

is Chen in custody? If not, why wouldn't he just transfer the funds to a new seed?

All the wallets were drained years ago and [1] says the bitcoin "are already in the government’s possession, custody and control". [1] https://storage.courtlistener.com/recap/gov.uscourts.nyed.53...

I'm now completely confused. Wallets were drained years ago? So $15B worth of bitcoin was already transferred? From whom to whom? And then why is this entire post considered news, if the wallet is empty?

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

#340

Earlier quoted context omitted.

> I did not call him a racist. I said his statement could be understood as racist This postmodern redefinition of racism really needs to be discarded. It’s done so much damage by giving actual racists cover, since if everyone is racist then racism isn’t a problem.

Negative racial stereotype as a definition of racism is the classical definition of racism. There is nothing postmodern about it.

Replying to JumpCrisscross response below:

>> Negative racial stereotype as a definition of racism is the classical definition of racism

>It wasn’t racial stereotyping. It was stereotyping a country’s population as sad and desperate. Saying X country’s quality of life sucks isn’t racist.

>If they’d said or implied Cambodian Americans are also sad and desperate, sure. But they didn’t.

This is a distinction without a difference. A negative stereotype about the people of a country is a stereotype about that country's dominant ethnic group. Their geographic location is irrelevant.

By this logic, saying "All Japanese people are [X]" is not a racial stereotype as long as you're only talking about the ones in Japan. It only magically becomes a racial stereotype when they are "Japanese Americans." This doesn't make sense.

There's a fundamental difference between:

Criticizing a state: "Cambodia's economy is struggling and its government is corrupt." Stereotyping a people: "The people of Cambodia are inherently sad and desperate." The original comment did the latter. That is, by definition, a negative ethnic stereotype.

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