4 ms·
I don't know about punishment, but the recovery rate for stolen/extorted crypto is much higher than for fiat cash. This is likely an issue of sophistication --
by smt88 5y ago
I don't know about punishment, but the recovery rate for stolen/extorted crypto is much higher than for fiat cash.
This is likely an issue of sophistication -- crypto hackers don't have decades of "best practices" knowledge to draw from, and may also feel a false sense of security.
- londons_explore 5y ago> recovery rate for stolen/extorted crypto is much higher than for fiat cash. Citation needed for such an extraordinary claim.
- smt88 5y agoI can't find it for the life of me, but I remembered reading that recovery of stolen crypto was both faster and more successful. I'll retract that claim for now. In the meantime, this article explains how and why that would be the case: https://www.nytimes.com/2021/06/09/technology/bitcoin-untraceable-pipeline-ransomware.html https://www.nytimes.com/2021/06/09/technology/bitcoin-untrac... Basically the openness of the ledger allows law enforcement to skip some slow and difficult tracing and requesting of warrants. On top of that, cybercriminals seem to make exploitable mistakes that have enabled stealing their private keys.