Do you believe they will give it back.
I mean one by one literally checking what IP they are using and pinpoint who is it.
Some users of that exchange wont care anymore. Even if those are just .01 bitcoin. They should matter right?
But that wont happen. They will just go to court, face the issue and maybe pay the fine that is needed without even some jail time.
Let us face it, there have been a lot of hacks and scams and still we dont see anyone paid that large to jail or any way possible.
Topic: Do you believe stolen funds should be returned to their owner? (Read 580 times)
Over $4 billion has been stolen or laundered in the first six months of 2019! This interview with CipherTrace CEO Dave Jevans is really interesting regarding details of the lost and stolen funds.
I was surprised to see that ransomware and scams are some of the biggest points of money loss over exchange hacks.
Worth while interview to watch and join in the conversation of what should happen to stolen funds. Do you get them returned or in a decentralized system are they lost forever?
https://blocktv.com/watch/2019-08-22/5d5ea9e847c19-scams-hacks-ransomware-run-amok-in-the-cryptosphere
I was surprised to see that ransomware and scams are some of the biggest points of money loss over exchange hacks.
Worth while interview to watch and join in the conversation of what should happen to stolen funds. Do you get them returned or in a decentralized system are they lost forever?
https://blocktv.com/watch/2019-08-22/5d5ea9e847c19-scams-hacks-ransomware-run-amok-in-the-cryptosphere
Are you really serious..? You think they stole your money for giving you back. I have who lost her all of token by hacking some stupid person. That was almost two years ago. She told them to return it because those coins/tokens are last hope for change her crises life. They didn't so it's better that not hopping to much from scammers. And we should work for that point because nobody want lose their money.
If the funds aren't be returned to the user, where did the funds go? Government? Police? Or something else who didn't have a right to owned them?
Just returned the funds because it will be something usefull in the future in order to the newcomer who still have a doubt to start investing on cryptocurrency will have a convince that the money will be back again if there is something bad happened. I'm not a lawyer who have an understanding against it, but it is just my perspective as the user.
Just returned the funds because it will be something usefull in the future in order to the newcomer who still have a doubt to start investing on cryptocurrency will have a convince that the money will be back again if there is something bad happened. I'm not a lawyer who have an understanding against it, but it is just my perspective as the user.
Who would’nt like to take money of yours that was stolen? The point is how would it will happen to return to their owner. The most case these days the stolen funds could’nt return because in the first place it is there motive plans to hack money from others.
Over $4 billion has been stolen or laundered in the first six months of 2019! This interview with CipherTrace CEO Dave Jevans is really interesting regarding details of the lost and stolen funds.
I was surprised to see that ransomware and scams are some of the biggest points of money loss over exchange hacks.
Worth while interview to watch and join in the conversation of what should happen to stolen funds. Do you get them returned or in a decentralized system are they lost forever?
https://blocktv.com/watch/2019-08-22/5d5ea9e847c19-scams-hacks-ransomware-run-amok-in-the-cryptosphere
I was surprised to see that ransomware and scams are some of the biggest points of money loss over exchange hacks.
Worth while interview to watch and join in the conversation of what should happen to stolen funds. Do you get them returned or in a decentralized system are they lost forever?
https://blocktv.com/watch/2019-08-22/5d5ea9e847c19-scams-hacks-ransomware-run-amok-in-the-cryptosphere
It depends on where the stolen funds were stolen. If they were stolen under the care of third-parties platforms such as cryptocurrency exchanges or other centralized platforms then the platforms have to compensate their customers. If they were stolen directly from the owners then the coins would be considered lost forever if the thieves are not found.
Base on simple morality, I'd agree that stolen funds should be returned to the owners. With the rate of thefts in the cryptosphere, security agencies would be interested in tracking these funds. Many crypto users do not like the idea of regulation - I don't too, but this is one of the problems regulation tend solve. We don't have to be nonchalant since we haven't lost any funds to these thefts.
It is doubtful if anyone who steals in the first place would want to return it because they already plan it. Why steal if they have morality. Except the thief is forced by law to return the loot they will not return it. This is simple maths.
Mostly stolen funds will not be returned to the owner. Maybe the owner of the exchange that has been hacked will give you a small refund. I have experience that my funds was stole but even now there is no refund back. They stole your funds because they want, not for giving back your funds.
They should give it back, but how?
Let us make Binance as an example. You could trade with them, deposit and withdraw for a limit of 2 BTC. Let us say many does that to avoid KYC. If a sudden robbery happen inside the company will they be held liable for all this funds?
I dont think so. You avoided the KYC so it is like avoiding the terms and agreement.
Question: Hoe will you prove you really own funds with them?
In other cases, they go through a lot of paperworks and jurisdictions. But giving back those funds to each user will be impossible.
Let us make Binance as an example. You could trade with them, deposit and withdraw for a limit of 2 BTC. Let us say many does that to avoid KYC. If a sudden robbery happen inside the company will they be held liable for all this funds?
I dont think so. You avoided the KYC so it is like avoiding the terms and agreement.
Question: Hoe will you prove you really own funds with them?
In other cases, they go through a lot of paperworks and jurisdictions. But giving back those funds to each user will be impossible.
I think that you have a very good point though. It is not only to give it back but it is whether it gets to the actually owner especially with the analysis you gave. If people have decided to boycott 2fas, KYC , how will they show proof in a case like this.
Crypto theft isn't like the physical theft where restoration can merely be done on radio, television by simply showing of identity card and the likes.
If they are able to recover the stolen fund, the right thing to do would have actually been to return the stolen fund, but how can they return it when they cannot even trace the owner, except maybe a case is filed with the police showing proof if their stolen funds, then maybe they can use their discretion to pay such person, but if not, the fund might be lost forever and the investor never get the chance of getting the money back again.
Moreover, I think it would even be very difficult to ever recover all those stolen funds, since there is no way there offenders can ever be traced, except maybe they were caught through a physical scam and then probably make a personal confession about it, so those fund would just be in the decentralized system and lost forever.
Moreover, I think it would even be very difficult to ever recover all those stolen funds, since there is no way there offenders can ever be traced, except maybe they were caught through a physical scam and then probably make a personal confession about it, so those fund would just be in the decentralized system and lost forever.
They should give it back, but how?
Let us make Binance as an example. You could trade with them, deposit and withdraw for a limit of 2 BTC. Let us say many does that to avoid KYC. If a sudden robbery happen inside the company will they be held liable for all this funds?
I dont think so. You avoided the KYC so it is like avoiding the terms and agreement.
Question: Hoe will you prove you really own funds with them?
In other cases, they go through a lot of paperworks and jurisdictions. But giving back those funds to each user will be impossible.
Let us make Binance as an example. You could trade with them, deposit and withdraw for a limit of 2 BTC. Let us say many does that to avoid KYC. If a sudden robbery happen inside the company will they be held liable for all this funds?
I dont think so. You avoided the KYC so it is like avoiding the terms and agreement.
Question: Hoe will you prove you really own funds with them?
In other cases, they go through a lot of paperworks and jurisdictions. But giving back those funds to each user will be impossible.
If people asked like that, their answer must be stolend funds should be returned to their owner. But my question is how, like in bitcoin wallet that is anonym, not talk about exchanges because we can know if address is from exchanges. And maybe if law enforcer who ask to the exchanges like who is own the address, maybe they can tell it. But if personal wallet, maybe can returned to that wallet itself. Luck for who not mix it yet because it is easy to trace which wallet is be source of transaction.
since it is 'stolen funds' it is not lost, it is kept and shouldn't be stolen forever. it can never be supported by law and it must have been to the detriment of certain people.
it should be given to the owners. if it is be lost to hackers, there is very little or nothing that can be done about that, everyone will silently bear the pain and let go.
it should be given to the owners. if it is be lost to hackers, there is very little or nothing that can be done about that, everyone will silently bear the pain and let go.
That brings in a lot of questions with it, how do you propose that "stolen" is calculated, I mean who will decide if something is stolen or deservedly given? Maybe one person bought a product using bitcoin and then they used the product but didn't like it, they want to return and get the money back but the company doesn't have that type of policy, whatever you bought has no return, what are we going to do in that case?
Do we claim it is stolen because the person who bought it doesn't like it anymore? I don't think so. That is why I think best case scenario here is not to touch the currently running system. Does it have downside to it? Sure it does, but that doesn't mean you have to really overhaul the whole system just because some people were idiots enough to get scammed.
Do we claim it is stolen because the person who bought it doesn't like it anymore? I don't think so. That is why I think best case scenario here is not to touch the currently running system. Does it have downside to it? Sure it does, but that doesn't mean you have to really overhaul the whole system just because some people were idiots enough to get scammed.
When something is decentralized there is no way to bring back the lost funds on hacks so the owner will never get any funds from the hacker but we see binace returned lost funds from the pockets when they got hacked so getting refund is owners right but exchanges will decide about that.
The only possible way that it can be refunded back to the owner is when the scammer confession the exchange for which the money was stolen from, and provided they can still recover the money back from the scammer, if they have not spent it on useless things that cannot even be sold for them to recover part, if they can recover the money, then it would be possible to refund it. Let us imagine that they were able to apprehend the hacker that stole from binance platform, and the money is still with such hacker, binance will be the one to take the money since they had already refunded them, but if they were yet to refund, then binance should be able to know those who were affect that will get part of the recovered money, but this will be on a rare case really.
When something is decentralized there is no way to bring back the lost funds on hacks so the owner will never get any funds from the hacker but we see binace returned lost funds from the pockets when they got hacked so getting refund is owners right but exchanges will decide about that.
The only possible way that it can be refunded back to the owner is when the scammer confession the exchange for which the money was stolen from, and provided they can still recover the money back from the scammer, if they have not spent it on useless things that cannot even be sold for them to recover part, if they can recover the money, then it would be possible to refund it. Let us imagine that they were able to apprehend the hacker that stole from binance platform, and the money is still with such hacker, binance will be the one to take the money since they had already refunded them, but if they were yet to refund, then binance should be able to know those who were affect that will get part of the recovered money, but this will be on a rare case really.
I was surprised to see that ransomware and scams are some of the biggest points of money loss over exchange hacks.
I'm not surprised at all to see scams as biggest losing points for exchanges. But ransomware seems to be a big shock to me. I recall reading that ransomware attacks only gain hackers very tiny amounts of funds because not everyone pays up. Those that do can't even afford to pay much.
And it this is about stolen funds why ransom stolen funds? I don't get it at all.
Over $4 billion has been stolen or laundered in the first six months of 2019! This interview with CipherTrace CEO Dave Jevans is really interesting regarding details of the lost and stolen funds.
I was surprised to see that ransomware and scams are some of the biggest points of money loss over exchange hacks.
Worth while interview to watch and join in the conversation of what should happen to stolen funds. Do you get them returned or in a decentralized system are they lost forever?
https://blocktv.com/watch/2019-08-22/5d5ea9e847c19-scams-hacks-ransomware-run-amok-in-the-cryptosphere
I will not only agree that stolen funds should be returned but I recommend that it should be returned for the interest of Justice and fairness! Because we are having a decentralized system does not mean we should keep our fellow men in poverty by hacking or scamming them. The decentralized(blockchain) has made it difficult for stolen bitcoin and other coins that are being stolen to be recovered as most of this hackers or scammers do transfer the funds to mixers and from there it became difficult to trance. I was surprised to see that ransomware and scams are some of the biggest points of money loss over exchange hacks.
Worth while interview to watch and join in the conversation of what should happen to stolen funds. Do you get them returned or in a decentralized system are they lost forever?
https://blocktv.com/watch/2019-08-22/5d5ea9e847c19-scams-hacks-ransomware-run-amok-in-the-cryptosphere
Is this even a question? Morality speaking, IT SHOULD BE RETURNED to the owner. And those thieves should be punished for what they've done.
The challenge here is how to retrieve the funds that were stolen and how to find the person/thieves.
That's a big challenge, trying to recover of punished those people who stole those funds, there's should be a good agencies who can work things out and run after those people/thieves to get them liable and be punished, there's no assurance whether it can be returned to original owners but what's best is to stop them and punished them so the system will go forward and be accepted and adopted without any doubts and worries.. The challenge here is how to retrieve the funds that were stolen and how to find the person/thieves.
Base on simple morality, I'd agree that stolen funds should be returned to the owners. With the rate of thefts in the cryptosphere, security agencies would be interested in tracking these funds. Many crypto users do not like the idea of regulation - I don't too, but this is one of the problems regulation tend solve. We don't have to be nonchalant since we haven't lost any funds to these thefts.
I never think such morality exist by now. They steal our funds in a certain purposes and not by returning it over. We can't expect that we can have it back once it lost, nobody could do that. In a particular reason why they stole our funds just because we let them to get it. How it sad, we can't get them cause of the anonymity we had in this community. We can only trace the transactions but not the person who make it.
Pretty perfect explanation and sad to admit hurt to heard, but it's comes in the reality the steal funds is very impossible to get back of the owners.
I'll never heard lost or stolen funds are returned it to the owner this issue is very difficult matters if the need to,talk about the honesty amd morality.
Is this even a question? Morality speaking, IT SHOULD BE RETURNED to the owner. And those thieves should be punished for what they've done.
The challenge here is how to retrieve the funds that were stolen and how to find the person/thieves.
The challenge here is how to retrieve the funds that were stolen and how to find the person/thieves.
Yes, it is. It' related to the morality of each people who gets the money. We hope that people are not stolen other people's money because that will be a bad thing and that breaks the law. The risk to do that will cause us to get jail, but that is if we get caught by the police. But I think for people who are stolen other people's money, they will not think to return the money to the owner. We can see the thief in public are that are trying to steal the money and then they are run away from that person because they want to use the money to buy something they want. But that is for an example and related to the cryptocurrency, it is better we are returned the money to the owner.
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