291–300 of 446 posts
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often the feds will surveil someone for a long time and just wait until they try to leave the country . it makes it much easier than trying to do the arrest elsewhere. it's all electronic . You buy a ticket, show your ID/passposrt, and your info will go out.
So you should really drive to central america, I guess?
Great example of how most of the fluff around decentralized finance being more fair just because it is public and “open” is naive at best and a wolf in sheep’s clothing at worst. They claim that regulated banks are a moral evil and “wouldn’t you want something neutral and open and transparent,” conveniently forgetting that this will always favor those with money to market, attract, and sell to potential “buyers” (sca…
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So you should really drive to central america, I guess?
My dad always said, if shit hit the fan, he would go to Brazil. Brazil isn’t exactly lawless, but it’s such a mass of humanity and so many cultures blending together that literally nobody would stick out like a sore thumb there.
Two days later, his (Brazilian) bank started to withhold his (non-Brazilian) salary payments for money laundering suspicions because he forgot to file one random document, he was frantically trying to find a way to open a bank account here in Europe, no one would let him with his Brazilian residency, and he had to resort to asking his wife for money. Another two days later, his lawyer told him to get lost because the Brazilian tax office knocked at his office door, he lost the preliminary court case to get his (to begin with, legal) money back, was stranded in Europe and they went to detain his wife. He couldn’t even open a cryptocurrency exchange account because not even they want to deal with the Brazilian authorities and the only ones operating in Brazil itself are on the governments leash.
It's not lawless at all. He also told me they have a personal identification number like the US SSN, but that it's much more widely used for almost anything, even if you want to rent an apartment or go shopping (his words, never verified it) and allows authorities to track their every (mostly financial) step. He emphasised you better have that number ready when you enter the country too.
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A lot of people suspect there's ""official"" insider trading at the exchanges; there's no reason for the exchange not to front-run orders or fake the order book if they think they can get away with it. Or trade against heavily leveraged positions to liquidate them. Or prop-trade with the customers' money.
"A lot of people suspect"? Are we being overt? Am I the only one that not very subtly got offered insider trading of NFT tokens as a perk for joining a crypto company?
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It is a shared good that benefits all participants for a market to be efficient. Insider trading reduces market efficiency.
It literally does the opposite. It pushes the price in the direction it's going to go when the information is made public.
If insider trading is allowed then, yes, those who have access to inside information can trade on it more efficiently. But it also highly incentivizes market participants to hide information. In a world where insider trading is allowed, anyone who has access to inside information can now personally monetize it as long as that information does not get out to the wider market.
You're basically paying people to manufacture information asymmetry. As an emergent effect, that does not lead to the widely available information needed for a market to perform efficiently.
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From another angle, he defrauded Coinbase, through violating the terms of employment as part of the listing team.
Wouldn't that be a civil matter between him and Coinbase?
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There was an HN thread about that tweet, at the time that it was tweeted: https://news.ycombinator.com/item?id=31012462 ( "Insider Trading at Coinbase (twitter.com/cobie)" ) (3 months ago, 333 comments)
During which conversation a fairly large number of HN commenters thought that crypto insider trading wasn't illegal: https://news.ycombinator.com/item?id=31012837
One perk of a public blockchain is that crimes like these are more transparent! A Twitter user 'discovered' the fraud a few months ago: https://twitter.com/cobie/status/1513874972552355846
The person was lazy. There are many ways to obfuscate this even when the ledger is public
Wow, the indictment references [this tweet][1] that caused Coinbase to investigate the matter and ultimately led the defendant in being caught at the airport before trying to leave the country. > On May 11, 2022, Coinbase’s director of security operations emailed ISHAN WAHI to inform him that he should appear for an in-person meeting relating to Coinbase’s asset listing process at Coinbase’s Seattle, Washington offic…
It's amazing how they already had tabs on this guy and just waited for him to leave but without arresting him sooner if you think you broke the law and want to avoid arrest, stay away from the airport. anyone who buys a ticket they get your full info and then the arrest is as easy as picking you up at the gate, nowhere to hide.