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Wait, hold on, I thought the promise of crypto was that: 1. The feds can't take your money. 2. Once your money's gone, it's gone. If criminals can't count on
by vkou 1y ago
Wait, hold on, I thought the promise of crypto was that:
1. The feds can't take your money.
2. Once your money's gone, it's gone.
If criminals can't count on #1 holding true, and their victims can't count on #2 holding true, what is even the point of it?
- Muromec 1y agoThey used the forbidden technique of 5€ wrench.
- whatevaa 1y agoIt's not even forbidden, anyone can use it.
- sethammons 1y agoBeating someone with a wrench feels unlawful/forbidden pretty much everywhere.
- Muromec 1y agoUnless you are FBI of course
- pixl97 1y agoI mean, I don't disagree, but there are far more government agencies around the world that will beat you with a wrench first.
- Muromec 1y agoIf you are lucky, then the three letters are from Latin alphabet, but you never know
- mminer237 1y agoUh, no, a judge can put you in prison, but it's still very much unlawful for the FBI to beat you with a wrench.
- deleted 1y ago[deleted]
- yard2010 1y agoInstead of these two take this simple rule: not your key not your money. There's no thing that the feds can't have because they have an infinite amount of sanctions violence and tools at their disposal to make anyone do what they want, one way or another.
- Jolter 1y agoCriminals can’t count on #1 if they hold the keys on them when they get arrested. >were previously stored in unhosted cryptocurrency wallets whose private keys the defendant had in his possession. Those funds (the Defendant Cryptocurrency) are presently in the custody of the U.S. government.
- deleted 1y ago[deleted]
- jimbohn 1y agoThe new promise of crypto is helping organized crime or sanctioned individuals/countries with payments, and it's delivering!
- AndrewStephens 1y ago> The new promise of crypto is helping organized crime or sanctioned individuals/countries with payments, and it's delivering! It's not even new - Bitcoin right from the start was explicitly created to replace a centralized system used by criminals to evade currency controls. Bitcoin's creator(s?) saw that the various governments were eventually able to shut that down and set up Bitcoin as a decentralized system to avoid that problem. It's not a flaw in crypto that criminals flock to it - it is built into the very design. This story shows that it is not perfect but to criminals it is the best that they have.
- yieldcrv 1y agoIts not clear how the feds got the money More information as the mystery deepens, it's not proceeds from just the pig butchering https://www.elliptic.co/blog/15-billion-us-seizure-reveals-prince-groups-connection-to-iran-china-bitcoin-mining-theft https://www.elliptic.co/blog/15-billion-us-seizure-reveals-p...