4 ms·
Fascinating and also good news IMHO as it starts to highlight that bitcoins can be tracked and today a stolen mobile phone can be blocked and logged upon a data
by Zenst 7y ago
Fascinating and also good news IMHO as it starts to highlight that bitcoins can be tracked and today a stolen mobile phone can be blocked and logged upon a database as stolen, so could bitcoins.
I'm thinking that there is a need/opportunity to be able to register bitcoins as stolen and if vendors used that database, the whole raft of bitcoins used for nefarious activities and more so stolen ones, can be curtailed.
Counterpoint to that thinking would be that it would not curtail the criminal activities such as ransom payments, only shift them into other forms.
Also interesting that the incident response team do not track or follow up tracing and tracking the bitcoins used and that a separate company and process was avenued. This shows that incident response is still a learning process, though encouraging that such situations are within their remit of response and as a service for companies - an important one.
Another take away from this is that law enforcement need to up there game, had this been hard cash, they would be driving this and not the insurance company. That shows how they are behind the times and most likely, budget/skill shortages playing out. But a million dollars is a million dollars in any currency, including crypto currency and again, had this been hard currency, you know that they would of been more resource involved. Though please don't take that as an indictment upon the police services, more an indictment of their resource limitations and one that needs addressing and raised up the flagpole.
- newguy1234 7y agoCriminals will easily solve the problem by simply using privacy coins like monero.
- dooglius 7y agoMaybe this one did, and the recipient used a Bitfinex account
- snarf21 7y agoExactly. Additionally, not everyone wants to take their money to the off ramp. This also creates a conundrum for exchanges. If they punish any user with a descendant of any "dirty" coin, it hurts the market and people's willingness to accept crypto at all. If no one is buying and selling crypto, they have no business.