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Crypto also needs laundering. If someone forces me to hand over $50MM in Eth, I’ll file a police report with the addresses and they’ll get exchanges to block an

Crypto also needs laundering. If someone forces me to hand over $50MM in Eth, I’ll file a police report with the addresses and they’ll get exchanges to block any funds coming from it. The thief may try to anonymize it with something like Tornado Cash, but that would take a very long time due to the largest pool being 100 ETH. The alternative is demanding payment in a privacy coin, but it will be difficult for any potential victim to get as much as you need quickly enough. Even with a privacy coin the attacker still has to be in close enough physical proximity to the victim or hostage to threaten them which leaves behind physical evidence. Overall, I’m not sure you gain much by demanding payment in crypto over cash.

corpMaverick 5y ago
> I’ll file a police report with the addresses You are assuming you are still alive.
vmception 5y ago
You can script tornado.cash deposits This amount would be up to half of the tornado cash anonymity pool, but can be withdrawn over time they can always withdraw a bunch of tornado cash notes to virgin addresses and pump a random cryptocurrency they already own and bought with their separate clean money if $SHIBDOGE rises 30,000% because virgin tornado cash funded whales are buying it, the prior owners are just going to be seen as lucky traders indistinguishable from the rest, all with clean money. one of those owners would ideally already own a lot of the chosen token and be the bridge exploiter. they will be seen as having much more clean money after selling their pumped crypto.
jbkiv 5y ago
In a previous life I was involved in K&R (kidnap & ransom) insurance. You just pay the ransom and never recover your money, so you price the insurance contracts accordingly. The police: "we don't prosecute those crimes" , "this is not our juridiction", "why don't you try the FBI?" I used to work in the Presidio of San Francisco. An ex military base. The only canons left are from the 1800's. I needed to file a police report (car theft), called the Police in San Francisco. OK, what's your address? Sorry, we don't handle those cases, call the Federal Police. Then later we had to file a lawsuit, so based on previous experience we filed in Federal Court. They told us, sorry even though you are on Federal land, you must file in a California court. Go figure. Just to say that nobody can help our dear crypto bros. BTW did you declare the existence and the amount of your crypto holdings last year? Oops, now you'll regret that police report you filed (goes into waste basket) and you have to deal with the IRS. The crypto world is better than the proverbial kid in the candy store.

corpMaverick 5y ago

> I’ll file a police report with the addresses You are assuming you are still alive.

vmception 5y ago

You can script tornado.cash deposits This amount would be up to half of the tornado cash anonymity pool, but can be withdrawn over time they can always withdraw a bunch of tornado cash notes to virgin addresses and pump a random cryptocurrency they already own and bought with their separate clean money if $SHIBDOGE rises 30,000% because virgin tornado cash funded whales are buying it, the prior owners are just going to be seen as lucky traders indistinguishable from the rest, all with clean money. one of those owners would ideally already own a lot of the chosen token and be the bridge exploiter. they will be seen as having much more clean money after selling their pumped crypto.

jbkiv 5y ago

In a previous life I was involved in K&R (kidnap & ransom) insurance. You just pay the ransom and never recover your money, so you price the insurance contracts accordingly. The police: "we don't prosecute those crimes" , "this is not our juridiction", "why don't you try the FBI?" I used to work in the Presidio of San Francisco. An ex military base. The only canons left are from the 1800's. I needed to file a police report (car theft), called the Police in San Francisco. OK, what's your address? Sorry, we don't handle those cases, call the Federal Police. Then later we had to file a lawsuit, so based on previous experience we filed in Federal Court. They told us, sorry even though you are on Federal land, you must file in a California court. Go figure. Just to say that nobody can help our dear crypto bros. BTW did you declare the existence and the amount of your crypto holdings last year? Oops, now you'll regret that police report you filed (goes into waste basket) and you have to deal with the IRS. The crypto world is better than the proverbial kid in the candy store.