Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

techcrunch.com

Post reply on HN
Print view View original

81–90 of 99 posts

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#81

Post by rurp »

notch656a wrote: post #39
rurp wrote: post #37

Earlier quoted context omitted.

This reminds me of an old skit, I think from Monty Python. Where a bunch of people in ancient rome are pissed off. "What has Rome ever done for us?!". "Expect for roads" "And sewers" "And protection from invaders" "And enforced contracts" And so on...

Quoted post unavailable.

Large scale infrastructure? Yeah that's pretty much always built by governments. This has held true for millenia, over hundreds of different societies. But yeah, just a fluke I'm sure. Thank God crypto is here to knock some common sense into the world.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#82

Post by rurp »

lexapro wrote: post #42
rurp wrote: post #35

Earlier quoted context omitted.

Among other reasons, it's non-trivial to walk off with $10M worth of solid gold owned by someone on another continent.

It's also non-trivial to guess a private key or to run a 51% attack.

Judging from empirical results it is quite easy to steal crypto currency; it happens all the time. I don't know why you only care about those two approaches.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#83

Post by duxup »

eatonphil wrote: post #19

Given South Korea's fairly lenient prison sentences [0] (or maybe I'm just biased up by the very long US sentences) and that South Korea has a history of not extraditing to the US [1], I don't understand why he would risk worse leaving the country and trying to evade South Korean authorities. [0] https://msccsp.org/nasc/downloads/HyungkwanPark_supplemental... [1] https://www.nytimes.com/2020/07/06/world/asia/south-ko…

Is it possible he stole a lot of coin, put it in a place he controls, is worried they would find that, and just doesn't want to give it back?

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#84

Post by psd1 »

freen wrote: post #78
notch656a wrote: post #77

Earlier quoted context omitted.

The freen fallacy: anything between 'Patriot Act era KYC' and 'the solution' is libertarian nonsense.

Look: current financial regulations in the US and Europe mean we’ve been leapfrogged by Africa: M-Pesa etc. Don’t disagree, but throwing the baby out with the bath water and going full raw dog lets speed run the entire history of financial fraud is not a good idea.

Speak for yourself. I've been able to send money to my friends' phone numbers for years.

America hasn't even discovered different colours for banknotes yet. It's parochialism, not regulation, holding you back.

Apart from that, nicely put.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#85

Post by notch656a »

rurp wrote: post #81
notch656a wrote: post #39

Earlier quoted context omitted.

Quoted post unavailable.

Large scale infrastructure? Yeah that's pretty much always built by governments. This has held true for millenia, over hundreds of different societies. But yeah, just a fluke I'm sure. Thank God crypto is here to knock some common sense into the world.

Women in a high elected office? Up until the 1920s men were pretty much always governors in the United States. That held true for hundreds of years, over hundreds of different elections. But yeah, just a fluke I'm sure. Thank god women are here to knock some common sense into the world.

Transport on land? Yeah that's pretty much always done by horse. This has held true for millenia, over hundreds of different societies. But yeah, just a fluke I'm sure. Thank God mechanized vehicles are here to knock some sense into the world.

>Yeah that's pretty much always built by governments.

Yes definitely, that's why I can never find privately refined and delivered gasoline, have goods shipped internationally except through a nationalized shipping company, and can't find a private company to deliver my last-mile internet or cell-phone service.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#86

Post by rowanG077 »

lexapro wrote: post #33
JumpCrisscross wrote: post #24

Earlier quoted context omitted.

> why is that? The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. The same personality that can make a 21st-century gold bug pitch ( e.g. a world on crypto is one without wars, Bitcoin is impossible to ban, or Luna is magically stable et cetera ) is one that reacts to an arrest warrant by no showing and tweeting.

You know, it's kinda funny that you mention gold bugs. Because gold shares a lot of properties with Bitcoin, and therefore should be considered a sham by most of HN. Yet somehow it sits currently at $1,670/oz and is owned by all major central banks in the world.

It doesn't share the most important property: intrinisic worth.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#87

Post by tartoran »

duxup wrote: post #83
eatonphil wrote: post #19

Given South Korea's fairly lenient prison sentences [0] (or maybe I'm just biased up by the very long US sentences) and that South Korea has a history of not extraditing to the US [1], I don't understand why he would risk worse leaving the country and trying to evade South Korean authorities. [0] https://msccsp.org/nasc/downloads/HyungkwanPark_supplemental... [1] https://www.nytimes.com/2020/07/06/world/asia/south-ko…

Is it possible he stole a lot of coin, put it in a place he controls, is worried they would find that, and just doesn't want to give it back?

Why not? It a very possible scenario

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#88

Post by tartoran »

telotortium wrote: post #80
Cd00d wrote: post #68

Earlier quoted context omitted.

Your point would not be weakened if you left ethnicity out of it, but risks coming across as un-credible and conspiracy driven with the addition. I'd recommend an edit.

No, he's not accusing Jews of "running the world" or anything like that. It's a fact that Madoff focused on finding victims of the Ponzi scheme in his community, which is not at all unusual (MLMs often encourage their participants to sell to their friends and acquaintances, for example). As a well-off American Jew himself, Madoff went after his community of well-off American Jews, calculating correctly that their in-…

I saw a docu portrating something like that. He apparently was doing his friends a favor and of course in the jewish communities he was a fellow who had the secret sauce to steady great returns in addition to a very good reputation. I’m sure there were doubters too but his long track record spoke for itself. A lot of those people had charitable orgs that were completely wiped out. His sick thinking was something like people are greedy and so they more than deserve to lose their money. Thing is folks who’d want to get out would be convinced to stay in afraid he’d never ‘invest’ their money again.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#89

Post by tartoran »

Animats wrote: post #61
1-more wrote: post #30

Earlier quoted context omitted.

I'm trying to square this with the info on the Wikipedia page. Is this just "The Madoff Recovery Initiative reported $14.418 billion in total recoveries and settlement agreementse" divided by "of which $17.3 billion was actually invested by customers?" If so that's even better at north of 83%.

Madoff recovery amounts are based on how much cash the investor put in, not what their statement said their balance was just before the crash. So long-term holders get none of their supposed profits. The longer someone invested with Madoff, the more they lost. The recovery project is only for direct investors with Madoff. Those who bought into "feeder funds" which fed into Madoff's fund don't get anything directly. T…

How can you undo spending on lavish consumables? If he bought a watch for $100,000,000, you’d be lucky to recover a few % of that. Sure, properties and such would likely appreciate in price but the actual detangling process is extremely expensive too!! Still am glad the victims could recover anything at all!!

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#90

Post by tartoran »

tartoran wrote: post #88
telotortium wrote: post #80

Earlier quoted context omitted.

No, he's not accusing Jews of "running the world" or anything like that. It's a fact that Madoff focused on finding victims of the Ponzi scheme in his community, which is not at all unusual (MLMs often encourage their participants to sell to their friends and acquaintances, for example). As a well-off American Jew himself, Madoff went after his community of well-off American Jews, calculating correctly that their in-…

I saw a docu portrating something like that. He apparently was doing his friends a favor and of course in the jewish communities he was a fellow who had the secret sauce to steady great returns in addition to a very good reputation. I’m sure there were doubters too but his long track record spoke for itself. A lot of those people had charitable orgs that were completely wiped out. His sick thinking was something like…

Found an article talking about it:

https://www.theatlantic.com/business/archive/2016/02/madoff-...

Post reply on HN