Bitstamp hack. A real life test of anonymity in Bitcoin - page 2.

pandher

legendary

Activity: 952

Merit: 1000

Stagnation is Death

Quote from: Nikinger on January 10, 2015, 12:24:52 PM

He could easyly meet buyers who wants to buy bitcoins anonymously for using in the deep webs or hiding assets.

Bitcoin is terrible if talking about hiding assets and thats why it will never be used in the deep webs. Untraceable technologies like Monero are far better fit for privacy needs

mayax

legendary

Activity: 1456

Merit: 1004

Quote from: Nikinger on January 10, 2015, 12:24:52 PM

Fiat cashout should not pose the biggest problem if you travel to the right country first. He could easyly meet buyers who wants to buy bitcoins anonymously for using in the deep webs or hiding assets.

The bigger challenge comes with the need to explain the money to the taxation authority which is certainly interested in where the money is coming from.
With no waterproof explaination for the thief, he would have to spend it without drawing attention which is susceptible to fail some day.

it is so simple to cash out and then to deposit these money without any question from anybody. you just have to think that Bitcoin allows the money laundering and nothing more.

Nikinger

full member

Activity: 141

Merit: 100

Fiat cashout should not pose the biggest problem if you travel to the right country first. He could easyly meet buyers who wants to buy bitcoins anonymously for using in the deep webs or hiding assets.

The bigger challenge comes with the need to explain the money to the taxation authority which is certainly interested in where the money is coming from.
With no waterproof explaination for the thief, he would have to spend it without drawing attention which is susceptible to fail some day.

1Referee

legendary

Activity: 2170

Merit: 1427

There are plenty of places where the receivers don't mind to accept these coins.

The thief most likely will get clean coins or fiat in return.

Perhaps by selling them well below current value at some point.

noma

full member

Activity: 182

Merit: 100

Quote from: Cryptology on January 10, 2015, 04:45:18 AM

It has been reported that Bitstamp's hacker(s) sent all stolen coins, circa 19k to this address: 1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf
https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf

Furthermore blockchain.info has tagged the address as "Bitstamp Hack" making it quite simple via a "taint analysis" to check whether any incoming bitcoin payment contains any traces of these stolen coins.

The really interesting issue here is whether the thief or thieves will ever be able to spend any of these coins without being caught. This is the ultimate real life experiment in Bitcoin's anonymity.

As far as I can see the bitstamp hacker will have a hard time laundering these coins in any sizeable amounts.

Please post your views.

If the coins are sent to someone not aware of bitstamp hack, then there would be almost no use of the tag if it is sent through a mixer.

Comic Book Coin

newbie

Activity: 28

Merit: 0

Well, that is the thing. If no one would accept those coins or any that originated from those wallets it could be stopped. But, highly unlikely.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

If he knows what he's doing, there is no reason for him to have issues with laundering these coins.
He just needs to take his time in doing so.
Well at least Bitstamp came back better than it was before.

H.W.Z

hero member

Activity: 574

Merit: 500

it is really the beauty of the anonymity of bitcoin. But this time it hits the confidence of bitcoin holders hardly! Hopefully it will go through quickly!

LiteCoinGuy

legendary

Activity: 1148

Merit: 1010

In Satoshi I Trust

hide your tracks maybe? (so yes)

elephantas1

sr. member

Activity: 378

Merit: 250

Quote from: newIndia on January 10, 2015, 04:49:18 AM

As I can see, the coins are being mixed slowly. Two of the stashes are here...

https://blockchain.info/address/13KLHgJzdp11ZiJzAK43MMX9dKDoRYrHtG => 200 BTC

https://blockchain.info/address/1Af9nUCxKYRuXeHRDS6v14eV1JXxvUFUqc => 1,955.14096723 BTC

whats the point of mixing it is it easier to sell it then?

newIndia

legendary

Activity: 2198

Merit: 1049

As I can see, the coins are being mixed slowly. Two of the stashes are here...

https://blockchain.info/address/13KLHgJzdp11ZiJzAK43MMX9dKDoRYrHtG => 200 BTC

https://blockchain.info/address/1Af9nUCxKYRuXeHRDS6v14eV1JXxvUFUqc => 1,955.14096723 BTC

Cryptology

legendary

Activity: 1008

Merit: 1001

In Cryptography We Trust

It has been reported that Bitstamp's hacker(s) sent all stolen coins, circa 19k to this address: 1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf
https://blockchain.info/address/1L2JsXHPMYuAa9ugvHGLwkdstCPUDemNCf

Furthermore blockchain.info has tagged the address as "Bitstamp Hack" making it quite simple via a "taint analysis" to check whether any incoming bitcoin payment contains any traces of these stolen coins.

The really interesting issue here is whether the thief or thieves will ever be able to spend any of these coins without being caught. This is the ultimate real life experiment in Bitcoin's anonymity.

As far as I can see the bitstamp hacker will have a hard time laundering these coins in any sizeable amounts.

Please post your views.

Topic: Bitstamp hack. A real life test of anonymity in Bitcoin - page 2. (Read 2719 times)