Topic: Could there be a law on stolen bitcoins? - page 7. (Read 6684 times)

The problem is that it is very hard to catch those that steal bitcoins because of the anonymity. In many cases the thief is most likely in another country which makes it even harder to track.

the current system of law covers theft by anything physical and digital..

the problem..
identifying the culprit.

no law can remedy this, because no scammer would follow the law by identifying himself in the first place.

in short. if you dont want to get scammed dont use shady blackmarket sites. dont hand funds to people you dont know enough about to slap them with a wet fish if they wrong you.

If the guy steal a lot of money, one day he will have to spend it in somewhere or trade for fiat on an exchange, so in this way you can find the guy...
On the other side he can buy some anonymous altcoin and make the things more hard.

Stealing of anything is illegal and this is the crime everywhere in the world. There is no need for separate law to protect just Bitcoin. And no country would make such law.
The difference and also the problem with stealing Bitcoins compared with stealing fiat is the greater anonimity of Bitcoin transactions so it's much harder to trace them.

btc theft is not impossible to trace, possible but extremely difficult. However on the other hand, the owner of kickass got arrest because he use legal money to buy on app store.

well if you can track down those bitcoin thievies then your are welcome to take actions on them like polic complains or etc but i do not find it save that fbi will search the whole network just to find your guy remember everyone needs privacy

Firstly, bitcoin theft is impossible to trace. Secondly, stealing someones elses money is illegal anywhere in the world (duh lol). But since bitcoin has no owner, thus no one controls it - private or goverments, theres no one to enforce those laws. Even if there were laws, for which country would this law apply??

As Bitcoin is an anonymous currency, I think the law can't help with that. We already saw here a lot of scammers and hackers stealling bitcoins and nothing happened to them. Here on forum they can be negatived and banned, but on the real world nothing happen to them.

Althought they are banned from bitcointalk forum they can continue creating methods and schemes to steal peopleon the internet. That is disadvantage of using bitcoins.

I don't think that can be a law. Nobody can't use the lost bitcoins, so I don't think that someone can put law on the stolen ones. And how can we know which bitcoins are stolen and how someone can prove it?

Stealing bitcoins is like stealing fiat money.

There`s no need of a law regarding bitcoin theft.

If there was such law,this won`t stop bitcoin scammers.

I see, I research too, about bitcoin regulations and law. And found something interesting:
https://coincheck.com/en/blog/1226
https://news.bitcoin.com/japan-passes-law-regulation-bitcoin/
Anyway if bitcoin have a regulations from all country, maybe more comfortable to do bitcoin activity, unless maybe corrupt country.

Bitcoin, the Internet currency beloved by computer scientists, libertarians, and criminals, is no longer invulnerable. As recently as 3 years ago, it seemed that anyone could buy or sell anything with Bitcoin and never be tracked, let alone busted if they broke the law. “It’s totally anonymous,” was how one commenter put it in Bitcoin's forums in June 2013. “The FBI does not have a prayer of a chance of finding out who is who.”


The FBI and other law enforcement begged to differ. Ross Ulbricht, the 31-year-old American who created Silk Road, a Bitcoin market facilitating the sale of $1 billion in illegal drugs, was sentenced to life in prison in February 2015. In March, the assets of 28-year-old Czech national Tomáš Jiříkovský were seized; he’s suspected of laundering $40 million in stolen Bitcoins. Two more fell in September 2015: 33-year-old American Trendon Shavers pleaded guilty to running a $150 million Ponzi scheme—the first Bitcoin securities fraud case—and 30-year-old Frenchman Mark Karpelès was arrested and charged with fraud and embezzlement of $390 million from the now shuttered Bitcoin currency exchange Mt. Gox.


The majority of Bitcoin users are law-abiding people motivated by privacy concerns or just curiosity. But Bitcoin’s anonymity is also a powerful tool for financing crime: The virtual money can keep shady transactions secret. The paradox of cryptocurrency is that its associated data create a forensic trail that can suddenly make your entire financial history public information.

By any means, if an exchange site is a registered company, meaning personal infos of the owners and it's staff are being presented to the government then they are facing the laws under money regulation of a certain country and they have to comply with it. Obviously if they will turned to a fraud one, authorities will seek them.

But you know majority of people that preferred bitcoin because of that freedom thing must take care of their coins by themselves and don't blame anyone why it got steal. They want a full extent of freedom of using bitcoin outside the government premises but asking for a law about stolen coins? It doesn't make sense since for government to truly pass a law about stolen coins, bitcoin must be regulated first which others don't like. They must deal with it.

yes i also think so that there is still no law implemeted, and i think the main reason is that bitcoin is still not consider as legal currency by any country therefore it is very difficult that any government has yet implement any law for stolen bitcoins as the government has no concern with stolen bitcoins.

You either have freedom or you have nothing and that is pretty much how bitcoin works. You start making rules to track or attack people with nefarious ideas/plans and you kill bitcoin in the process. May not be right away but a gradual decline would for sure happen as the markets reflect the change.

i do not honestly expect there to exist any law on this or i do t want any law to exist because if there will exist any law then it can cause harms not only to the scammers but also some innocense. right now people himself are responsible for whatever actions they have taken into

Nobody needs a special law for Bitcoin theft, because stealing property is illegal in every country. The same applies to fraud. I don't know where you stuck your head the last years, but there are already convicted offenders, who participated in Bitcoin scams / embezzlements. Just to name the two best known: Trendon Shavers and Mark Karpeles.

Even if there were legal loopholes, additional laws would not improve the situation regarding Bitcoin scams. Offenders already know that their activity is illegal, therefore they generally take great care in concealing their identities and hiding their tracks. So prosecution is difficult.

The main problem in my opinion are however the people who - out of pure greed or naivety - believe in totally unrealistic high-yield "investments" and throw Bitcoin at every scammer without properly researching the background of an offer.

ya.ya.yo!

I don't think there is any specific law that is limited or about bitcoin and stealing it in any country, at least there is none where I live. but stealing bitcoin or getting scammed out of your coins may fall under some different category which then will be subjected to some law.
for example if it was a hack, then it is a hack and there are so many laws about hack and stealing something that way. if it was a scam then it can be categorized differently and so on.

The answer is yes if that country legalize bitcoin, but even so i think the laws only useful for legal business/exchange. Normal people won't get the benefits.
Also, it's hard to track the hacker/thief once he/she/they mixed their coins and use secure connection.

I don't think so because bitcoin doesn't belong to anybody or any government and it's not controlled by anyone so it's tricky to give such a law on bitcoin. Moreover, it's get harder to track down scam sites when they die or to find out who steal bitcoin because there will be no traces. Therefore, having laws on bitcoin would be worthless.