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Why couldn't you sue to recover the crypto?

• toomuchtodo 6y ago
  Lack of KYC (Know Your Customer [1]) and AML (Anti Money Laundering processes [2]) makes it more difficult to know who to pursue legally. Your US bank account or brokerage account is tied to your social security number and other PII. Who and where to process serve is much more accessible. [1] https://en.wikipedia.org/wiki/Know_your_customer https://en.wikipedia.org/wiki/Know_your_customer [2] https://en.wikipedia.org/wiki/Anti-money_laundering_software https://en.wikipedia.org/wiki/Anti-money_laundering_software
  • camjohnson26 6y ago
    Why would you send currency to an address if you haven’t verified its identity. The tools are young, if there aren’t enough controls for you yet then don’t use them. I don’t, but I respect the power of the technology and it’s future potential.
    • olliej 6y ago
      Because there is no meaningful proof of identity for a bitcoin address? If someone on twitter says “here’s my bitcoin address for donations” they may have been hacked, or they could claim that they were hacked, and you can’t find who controls the recipient account. By design.