Topic: Statement about the suspect of recent Bitcoinica hack - page 30. (Read 136139 times)

AFAIK he used Blockchain's mixing service, but the community doesn't expect the fees to be returned because it's impossible to identify the funds anyway. (Also Blockchain has offered a 0.5% bonus for those people who facilitated the laundering.)

The average price he sold at should be around $7.2, including the exchanging fees. At this price point the community is short $42,000. I'll see if it's possible to get this from Chen Jianhai, but quite unlikely. I doubt the effectiveness of Chinese police as well, because he's very likely to have "Guanxi" to deal with his financial activities (which I can't decide whether legal or not). In any case, he has been acting in a very naive way and I assume he still has freedom today because of his guanxi, not technical sophistication.

He's right! I plugged in community and it now makes perfect sense. I can't believe I have been so wrong on this issue. Will everybody forgive me? BlowBobs on the house.

~Bruno~ (ain't cackling!)

It does taint your account to receive funds from an account linked to criminal activity, and this taint can be linked to real, established charges.

Chen Jianhai is reading this thread. He just made a screenshot. Proof:



 

If Zhou's friend had a large amount of LR he wanted to convert then presumably he has the funds to retain a lawyer who can advise him about the wisdom of agreeing to such an arrangement.  His friend should certainly be made aware that his funds are now the subject of an AML investigation, though, before he's asked to agree to them being moved anywhere else or to receiving them back through an indirect means.  The more roundabout, intervening transactions there are between him giving the funds to Zhou to exchange and him receiving his funds back, the more it's going to look like money laundering to any investigator (especially if the source from which the funds are being returned can't be confirmed).


Neither you nor I know whether AurumXchange can release funds which are the subject of an AML investigation and if so under what circumstances and to whom.  Whatever persuasive arguments you may believe you have for them releasing those funds, the only people they should be listening to regarding that are their own legal advisors and their AML regulator.  There is no reason whatsoever they should risk legal fall-out themselves for the convenience of others.  They most certainly didn't create this clusterfuck and the have every right to protect themselves first and foremost from the legal risks which the money launderer brought to their door step.


And often the whole account will be frozen until the legitimacy of all the funds in the account can be established.

In the situation you are in I forbid you to retain anything at all as long there are liabilities to Bitcoinica customers. Your personal liabilities come second and I personally don't care.
In case you are behind all that (And I want to keep this option open) that move is just a smart way of circumventing AML-investigations. You also wouldnt be responsible to prove the legitimacy of these funds anymore. Comparing the total amount of returned vs. stolen funds that leaves still the possibility of you making a profit in this hack (hypothetical situation)
Also moving the risk of goverment seizure of your friends funds or lengthy unblocking procedure to Bitcoinica customers is just unfair. We as customers were not involved in money laundering YOUR FRIEND WAS so he has to take the risk!

FTFY

Sorry. It was a typo.

Why the plural? Is this just a Freudian slip or are there more hackers involved besides Chen?

If there is any investigation I would respond that the originally legitimate funds of $40k (which I can show proof to police) were transferred to Bitcoinica instead.

Fiat money is not Bitcoin. Your one dollar and my one dollar are identical. A scammer sending you $0.01 by mistake shouldn't taint your entire bank account. I just have to make sure the sums are correct and Bitcoinica gets everything Chen Jianhai promised to pay back.

Seriously? You would send your friend stolen funds? If I were your friend I would not accept them. If an investigation took place he would become involved since the stolen funds would be traced to him. You say he is reading this thread so he should be well aware of what's going on.

I'm a little behind on this thread, but does anybody remember this guy? https://bitcointalksearch.org/user/binarysecurity-673

http://binarysecurity.webs.com/index.html#about

+1


LOL

No. I would simply retain $40K from those recovered from Chen Jianhai, and convert that to Singapore Dollar and send back to my friend.

If later found out that the recoverable stolen funds exceed $140K in total, then it will be my personal liability to deal with Bitcoinica directly. In any case, AurumXchange shouldn't be holding the funds forever. $40K is only a small part of my total liability (this becomes my "liability" to Bitcoinica once I recover full amounts from Chen Jianhai), so there's no reason to not trust and co-operate with me when I can deliver my promise of the $100K and 20,000 BTC.

I dont see why they would have lost the claims.

But if they did, that would be another EPIC fail for the intersango team... Hopefully the data from the claims is still here

You don't see anything wrong with your friend's legitimate LR funds being released to bitcoinica? Your friend would lose his $40k, not restore his liquidity.

I wanted to do exactly that last time but I forgot to. I hope Bitcoin Consultancy can provide that information as well as funds.

Zhou, do you know if there has been a copy/backup of submitted claims ?
Or should customers submit it once again ?
Thanks for your time

Regardless of who actually committed the MtGox heist, the proceeds were laundered through AurumXchange and Liberty Reserve.  Those businesses have their own best interests to consider and aren't necessarily going to drop this just because Bitcoinica customers would be satisfied with the funds being returned.  


I absolutely agree that he shouldn't be expected to provide any information to this community.  His details are only relevant for the purpose of proving the origin of the funds for the LR transactions and it's those conducting any AML investigation who need to satisfied as to the legitimacy of those funds, not this community.

Justice or injustice?

If you want the justice and you are harmed, you should have reported to the police already.

Unfortunately, my friend (the source of legitimate LR funds) does not wish to be involved in this disaster because he is supposed to be irrelevant. He's fine with providing information to the authorities, but definitely not to the Bitcoin community after he has read this thread.

I hope everyone can understand that. We have enough threats and attacks among ourselves and no one is going to co-operate with the community in this matter.