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Perhaps I don't understand Bitcoin well enough, but wouldn't these guys out themselves the instant they try and spend them because of the public transaction history?
There are tumbler services, no idea how well they work or how many are compromised but in theory it seems like it could work.
"You knew what I was when you picked me up," said the snake as it slithered away.
For those not getting the reference http://www.gballard.net/lifes_lessons/girl_rattlesnake/
https://www.youtube.com/watch?v=T_ZBqpEUbik
Clasic Northern Soul
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I thought the whole point of bitcoin was that it was peer-to-peer with no chargebacks or centralized middlemen?
A side benefit, but I wouldn't say the whole point. There are some cases where middlemen are necessary - the difference being that they're a lot more avoidable with BTC than they are in meatspace. (Credit cards, authorities who rob people carrying large amounts of cash, and so on.)
Aaaand its gone... and I bet with gazillions of the user's bitcoins (this is becoming a classic)
Although it takes a certain amount of guts to steal from drug dealers. They don't generally bother with suing you in court to recover their funds :-)
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Escrow, funds are only released once the buyer confirms that he received the shipment. If you have a ton of outstanding orders, you are going to have a lot of funds frozen in escrow.
Bitcoin allows transactions that only become valid once 2 of 3 people sign them. If the three people are buyer, seller, and arbitrator, you can have escrow without trusting a third party. There have already been commercial services along those lines. Seems to me that any dark service that doesn't do it that way probably shouldn't be trusted.
>That system, would require at least two out of three parties in a transaction—the buyer, the seller, and Evolution’s administrators—to sign off on a deal. But due to its complexity, buyers rarely used the feature.
Edit: apparently this does not use bitcoins version of it, but their own that requires them to hold the funds in escrow. Which seems pretty stupid.
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There are tumbler services, no idea how well they work or how many are compromised but in theory it seems like it could work.
I'm surprised we haven't seen more theft and fraud with the tumblers. I used one out of curiosity about two years ago and the experience was basically to fill out a super shady looking webform, send the coins to the address it gives you, and then pray like hell that they come back out the other end.
It isn't quite the same thing as a tumbler, but they have busy addresses and lots of volume to obscure things with.
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The drug cartels brutally murder thousands and commit many other crimes -- they are as brutal as ISIS in many ways -- they undermine and oppress entire countries and ruin large parts of American cities. Many organizations such as the Taliban and Hezbollah fund themselves via the drug trade. Some people boycott companies over political issues; how many of them still buy drugs? Every user I know, to whom I've mentioned…
Prohibition laws created the drug cartels. You don't see distillers killing each others in turf wars, quite simply because it would be highly destructive to their possibility of operating on the right side of the law. To end the "wars" regarding drugs, you must end the war on drugs. Legalize everything. It won't eliminate drug abuse, just like legalizing alcohol didn't eradicate alcohol abuse, but it removes all the…
Brokering narcotics and everything else to the entire world is an unsustainable business you have no safe country to flee to if caught or outed. Surprised these black markets don't just focus on one foreign market from their stronghold in Abkhazia or something.
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I thought the whole point of bitcoin was that it was peer-to-peer with no chargebacks or centralized middlemen?
The bitcoin model alone doesn't fit buying drugs online. The purpose of escrow is a mutually agreeable middleman to facilitate a transaction, especially when parties that do not trust each-other can not exchange goods and payment in person.
How does the middleman have any ability to investigate or know who to believe?
well looks like these thiefs selling their bitcoins will push down the prices....almost 40 million dollars they've stolen, how the fuck do they expect to cash out without getting caught?
I've never heard of it. Sounds like it's actually really easy to get away with it.