Prosecutors Trace $13.4M in Bitcoins From the Silk Road to Ulbricht’s Laptop

applesRyummy

full member

Activity: 126

Merit: 100

Quote from: unamis76 on January 31, 2015, 07:36:36 PM

It's amazing how this guy seems to consistently forget to delete his traces. From his email being public, to all those transactions via clearnet, without mixing coins...

It's amazing he did it this far.

PS: I'm not defending him. Neither condoning him.

Based on the spreadsheet that the prosecution has presented as one that Ross was using to keep track of SR's finances, I would say that the 144k BTC was actually belonging to SR's customers. Not long before he was arrested, SR was actually over a million dollars in the hole because of all the people he had to payoff that were blackmailing him and from the $2 million theft/loss from gox

I don't think he was actually intending to use any of the bitcoin for his own personal use, but was holding it on his laptop for security in case the SR servers were to get seized (along with the private keys) - it was essentially "chilly" storage

AtheistAKASaneBrain

hero member

Activity: 770

Merit: 509

Quote from: unamis76 on January 31, 2015, 07:36:36 PM

It's amazing how this guy seems to consistently forget to delete his traces. From his email being public, to all those transactions via clearnet, without mixing coins...

It's amazing he did it this far.

PS: I'm not defending him. Neither condoning him.

Yeah its not bitcoins fault, if you really want to use bitcoin and stay anonymous you need to be anonymous in essence, also i would use monero and not bitcoin anyway.

chek2fire

legendary

Activity: 3430

Merit: 1142

Ιntergalactic Conciliator

Quote from: QuestionAuthority on January 31, 2015, 08:02:38 PM

When will people figure out that this is anonymous:

This is not:

Ever heard the old saying about God? If God ~~Bitcoin~~ did not exist it would be necessary ~~for governments~~ to invent him it.

Yeah.. Ok.. and "they" let some thieves to leave with a 5 million dollars away.. Expect that thieves is the "God" or "them". I think the answer is this pic and is the answer to all the questions...

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

When will people figure out that this is anonymous:

This is not:

Ever heard the old saying about God? If God ~~Bitcoin~~ did not exist it would be necessary ~~for governments~~ to invent him it.

unamis76

legendary

Activity: 1512

Merit: 1012

It's amazing how this guy seems to consistently forget to delete his traces. From his email being public, to all those transactions via clearnet, without mixing coins...

It's amazing he did it this far.

PS: I'm not defending him. Neither condoning him.

homeless hacker

member

Activity: 67

Merit: 10

Quote from: michinzx on January 31, 2015, 07:26:26 PM

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

everything is traceable through the blockchain, its not completely anonymous as long as there are records, which is the blockchain

Correct. It is refreshing to see others have a noggin and can think.

michinzx

sr. member

Activity: 364

Merit: 250

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

everything is traceable through the blockchain, its not completely anonymous as long as there are records, which is the blockchain

needFREElunch

full member

Activity: 196

Merit: 100

Hi

Quote from: Soros Shorts on January 31, 2015, 08:22:33 AM

Quote from: chek2fire on January 31, 2015, 08:06:15 AM

Quote from: gadman2 on January 31, 2015, 12:17:02 AM

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

Bitcoin is pseudo-anonymous. This has been discussed.

And if it is pseudo-anonymous why they haven't find bitstamp thieves yet?

The analogy here is that you need to catch them first by other means, then use the evidence in their wallets to trace the coins to the Bitstamp theft.

I wouldn't even say that. I would say that law enforcement would need to catch them first and then the criminal would still need to have the private keys in their possession for this to work. If the private keys have been destroyed/disregarded then this method of doxxing someone is going to be much less effective

homeless hacker

member

Activity: 67

Merit: 10

Ross let up and gave his addresses. This is what led to his downward spiral that we are seeing take place now. He cooperated to another level.

Chavez

member

Activity: 71

Merit: 10

Quote from: cr1776 on January 31, 2015, 08:24:36 AM

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

So much for journalists and the like who say it is "anonymous" without knowing the facts - making others believe them. As above, it is pseudo-anonymous and that requires some work.

It's anonymous if you want it to be and you're careful. Had they not found Ross with his laptop and all his coins on there it might have been a different story trying to track the coins, but he gave the addresses up when he was caught and that's all they need to be able to follow the money trail.

Lauda

legendary

Activity: 2674

Merit: 3000

Terminated.

Quote from: Q7 on January 31, 2015, 08:27:04 AM

Quote from: chek2fire on January 31, 2015, 08:06:15 AM

And if it is pseudo-anonymous why they haven't find bitstamp thieves yet?

Now that is a good point of argument. Wink

At certain point, I'm sure they will need to convert to fiat and leaving some trail of breadcrumbs.

a) It is not a good argument.
b) No he does not have to do that.
c) A really good thief will never be caught.

Note: Bitcoin is anonymous enough, this discussion shouldn't take place again as we have had it more than plenty times already.

chek2fire

legendary

Activity: 3430

Merit: 1142

Ιntergalactic Conciliator

We already know this from the beginning that all the transactions will be public and no one has the illusion that will be some how not public. The blockchain is a public ledger of all transactions. The fact is that if someone can id one person with his bitcoin address he can track back all his transactions. But the core of bitcoin remain anonymous for the users. No one can find the real id of the person from a simple bitcoin address.

Q7

sr. member

Activity: 448

Merit: 250

Quote from: chek2fire on January 31, 2015, 08:06:15 AM

Quote from: gadman2 on January 31, 2015, 12:17:02 AM

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

Bitcoin is pseudo-anonymous. This has been discussed.

And if it is pseudo-anonymous why they haven't find bitstamp thieves yet?

Now that is a good point of argument. Wink

At certain point, I'm sure they will need to convert to fiat and leaving some trail of breadcrumbs.

cr1776

legendary

Activity: 4256

Merit: 1313

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

So much for journalists and the like who say it is "anonymous" without knowing the facts - making others believe them. As above, it is pseudo-anonymous and that requires some work.

Edit: for those who value privacy, dark wallet and similar technologies will help; side chains, likewise.

Soros Shorts

donator

Activity: 1617

Merit: 1012

Quote from: chek2fire on January 31, 2015, 08:06:15 AM

Quote from: gadman2 on January 31, 2015, 12:17:02 AM

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

Bitcoin is pseudo-anonymous. This has been discussed.

And if it is pseudo-anonymous why they haven't find bitstamp thieves yet?

The analogy here is that you need to catch them first by other means, then use the evidence in their wallets to trace the coins to the Bitstamp theft.

chek2fire

legendary

Activity: 3430

Merit: 1142

Ιntergalactic Conciliator

Quote from: Lethn on January 31, 2015, 08:17:16 AM

Quote from: chek2fire on January 31, 2015, 08:06:15 AM

Quote from: gadman2 on January 31, 2015, 12:17:02 AM

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

Bitcoin is pseudo-anonymous. This has been discussed.

And if it is pseudo-anonymous why they haven't find bitstamp thieves yet?

Because the Bitstamp thieves will have known what they're doing properly, it is possible to cover your tracks, but Bitcoin's anonymity is only as good as the person moving the coins.

I dont think someone know what he is doing when he spent up to 1 bitcoin for fees to fasten his transaction. They was thieves, hacker but it seems they was completely noob about bitcoin. Imo this bitstamp case break down the mythi that bitcoin is not anonymous.

Lethn

legendary

Activity: 1540

Merit: 1000

Quote from: chek2fire on January 31, 2015, 08:06:15 AM

Quote from: gadman2 on January 31, 2015, 12:17:02 AM

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

Bitcoin is pseudo-anonymous. This has been discussed.

And if it is pseudo-anonymous why they haven't find bitstamp thieves yet?

Because the Bitstamp thieves will have known what they're doing properly, it is possible to cover your tracks, but Bitcoin's anonymity is only as good as the person moving the coins, most of the people who talk about anonymity etc. in cryptocurrencies are just like news journalists and completely full of shit.

chek2fire

legendary

Activity: 3430

Merit: 1142

Ιntergalactic Conciliator

Quote from: gadman2 on January 31, 2015, 12:17:02 AM

Quote from: Divinespark on January 30, 2015, 11:22:21 PM

So much for the supposed anonymity of the btc blockchain..

Bitcoin is pseudo-anonymous. This has been discussed.

And if it is pseudo-anonymous why they haven't find bitstamp thieves yet?

koshgel

legendary

Activity: 1162

Merit: 1001

Quote from: Gleb Gamow on January 31, 2015, 12:25:09 AM

Quote from: goldkey0070 on January 30, 2015, 11:02:00 PM

http://bitcoinfaucetrelay.com/prosecutors-trace-13-4m-in-bitcoins-from-the-silk-road-to-ulbrichts-laptop/

Quote

In all, he followed more than 700,000 bitcoins along the public ledger of bitcoin transactions, known as the blockchain, from the marketplace to what seemed to be Ulbricht’s personal wallets. Based on exchange rates at the time of each transaction, Yum calculated that the transferred coins were worth a total of $13.4 million.
“You mean direct, one-to-one transfers?” prosecutor Timothy Howard asked Yum.

“Yes, direct, one-to-one transfers,” Yum responded.

They must have either used extensive manpower or have at their disposal one helluva program to complete such task. Either way, I, with just a laptop, successfully tracked BFL's bitcoin wallet addresses used to launder Sonny's over ten million dollars worth of bitcoins via BitPay sans a single purchased, albeit purchases is what's written on the invoice generated on BitPay's end. Image what I could do with even some rudimentary program in Alpha.

Quote

Ulbricht’s defense attorney Dratel called into question whether Yum had done his analysis single-handedly or relied on a coworker at FTI consulting, the government contractor that now employs him. When Yum admitted that he had done only about 40 hours of work on the analysis and that 60 hours had been performed by a cryptologist named Matthew Edman

needFREElunch

full member

Activity: 196

Merit: 100

Hi

With the government knowing both the addresses of Silk Road and of Ross, such analysis shouldn't have been very difficult. The FBI getting this information for this guy made his job much easier.

I do however find it very interesting that the amounts this guy is saying was transferred to Ross, the amount of bitcoin seized on Ross's laptop and the amount of SR's profit per the spreadsheet on his laptop all do not match. This fact may be something that may incite reasonable doubt in the Jury

Topic: Prosecutors Trace $13.4M in Bitcoins From the Silk Road to Ulbricht’s Laptop (Read 1788 times)