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Binance fired employees who found $1.7B in crypto was sent to Iran

nytimes.com

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Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#21

Post by this-is-why »

boplicity wrote: post #3
toomuchtodo wrote: post #2

https://archive.today/t2pG6

Please understand that circumventing copyright makes it more difficult for journalists to make a living.

You are 100% correct. I find the attitude that everything should be free a bit tedious. But then again, why does the truth have to be paywalled while lies are free. I believe it is a detriment to society that we cannot publicly find reporting. Yes I know now come the cynics who will argue bias. But that’s just a failure of reading comprehension, not fair reporting doctrine.

So yes. I’m with you 100%.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#22

Post by torginus »

paxys wrote: post #6

Isn't this like the #1 use case for crypto? Everyone wants an untrackable unblockable currency that is out of government control until the day it is used for things they don't like, then suddenly "government please control this!"

Can't anyone basically sanction entire wallets, and mark them, and make some legislation that any transaction involving coins originating from those wallets be rejected by all payment processors and exchanges in regulated markets?

I mean, they obviously can, but probably they have elected not to do so. But if crypto becomes a tool in the hands of enemy nation states, such regulation can't be soo far off.

Though that would create a secondary market for these 'tainted' coins, and would probably have far-reaching consequences into the crypto ecosystem.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#23

Post by idontwantthis »

paxys wrote: post #18
garrettgarcia wrote: post #14

Earlier quoted context omitted.

It's clearly not untrackable. It's never been untrackable. That's how they know it went to Iran.

Only because in this case they used a centralized exchange. The amount of actual circulation to countries like Iran and North Korea is likely many orders of magnitude higher that what is knowable.

Every single transaction is public information. If you carry a wallet into Iran, and it's coins are used through 20 different transactions to purchase weapons, all of those can be traced back to their origin.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#24

Post by unyttigfjelltol »

boplicity wrote: post #3
toomuchtodo wrote: post #2

https://archive.today/t2pG6

Please understand that circumventing copyright makes it more difficult for journalists to make a living.

Is there a micropayment option or something? I wish I could friction-free, buy access to these sites al al carte without dealing with them directly or setting up a recurring subscription directly with them.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#27

Post by arcanemachiner »

idontwantthis wrote: post #23
paxys wrote: post #18

Earlier quoted context omitted.

Only because in this case they used a centralized exchange. The amount of actual circulation to countries like Iran and North Korea is likely many orders of magnitude higher that what is knowable.

Every single transaction is public information. If you carry a wallet into Iran, and it's coins are used through 20 different transactions to purchase weapons, all of those can be traced back to their origin.

Well, that depends on which cryptocurrency is used, doesn't it?

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#28

Post by ozgrakkurt »

paxys wrote: post #18
garrettgarcia wrote: post #14

Earlier quoted context omitted.

It's clearly not untrackable. It's never been untrackable. That's how they know it went to Iran.

Only because in this case they used a centralized exchange. The amount of actual circulation to countries like Iran and North Korea is likely many orders of magnitude higher that what is knowable.

I don’t understand the point of this. It is no different than traditional finance.

People do and did transfer drug money before and they will keep transferring drug money. I don’t see what blockchain has to do with that.

On the other hand, I use blockchain personally for completely legal purposes and find it very useful.

Easy to do international transfers, easy to buy different currencies even if local government is trying to make it hard. Also I have more trust in it compared to countries that I live in or travel to.

Another big aspect of it is no hidden costs and borderline scamming behavior I get from credit card companies or banks when doing international spending or transfers. This is not even about the insane prices, the feeling of getting scammed is even worse.

Also it is literally governments reason of existence to preserve order and catch criminals. Banning everything used by criminals is insanely stupid.

Same idea with cryptography, same with internet, same with cash.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#29

Post by wat10000 »

paxys wrote: post #6

Isn't this like the #1 use case for crypto? Everyone wants an untrackable unblockable currency that is out of government control until the day it is used for things they don't like, then suddenly "government please control this!"

It seems to me that the people who want the unblockable currency out of government control are not the same people who want to block money transfers to countries like Iran.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#30

Post by cammikebrown »

idontwantthis wrote: post #23
paxys wrote: post #18

Earlier quoted context omitted.

Only because in this case they used a centralized exchange. The amount of actual circulation to countries like Iran and North Korea is likely many orders of magnitude higher that what is knowable.

Every single transaction is public information. If you carry a wallet into Iran, and it's coins are used through 20 different transactions to purchase weapons, all of those can be traced back to their origin.

Not if they used Monero
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