Topic: stolen bitcoins - page 2. (Read 2944 times)
Nope, one of the greatest things about bitcoin is FUNGIBILITY!
Correct me if I'm wrong, but this is one of the greatest things about bitcoins. The stolen coins can be tracked and the spending of them will lead them back to the thief.
Thats something that can definitely not be done with fiat.
Thats something that can definitely not be done with fiat.
I think you can always use a service like bitmixer to make them untraceable.
no, too difficult, but you can retrieve the starting address, but you would never know who used it
In fact, I don't know if anyone has ever been convicted for stealing coins?
Pirate was successfully prosecuted by the feds for the BTCST saga - which at its heart is about stealing bitcoin. That was a civil prosecution - so far. He has since been indicted on criminal charges.
I guess RodeoX should have specified stealing coins through security breaches. People gave their bitcoins to Pirate.
Under fraudulent circumstances, yes. If you want to play word games and tell me that such is not stealing, I'm not playing along. From a moral standpoint, I see absolutely no difference.
In fact, I don't know if anyone has ever been convicted for stealing coins?
Pirate was successfully prosecuted by the feds for the BTCST saga - which at its heart is about stealing bitcoin. That was a civil prosecution - so far. He has since been indicted on criminal charges.
I guess RodeoX should have specified stealing coins through security breaches. People gave their bitcoins to Pirate.
Mixing and exchanges basically wash em up and make them super hard to find.
Correct me if I'm wrong, but this is one of the greatest things about bitcoins. The stolen coins can be tracked and the spending of them will lead them back to the thief.
Thats something that can definitely not be done with fiat.
Thats something that can definitely not be done with fiat.
Correct me if I'm wrong, but this is one of the greatest things about bitcoins. The stolen coins can be tracked and the spending of them will not lead them back to the thief.
Thats something that can definitely be done with fiat.
i've had my bitcoins stolen from hackers and phishing numerous times and never once got them back :-(
In fact, I don't know if anyone has ever been convicted for stealing coins?
Pirate was successfully prosecuted by the feds for the BTCST saga - which at its heart is about stealing bitcoin. That was a civil prosecution - so far. He has since been indicted on criminal charges.
The fact that bitcoin theft happened means that hackers think bitcoin is valuable. Nobody robs banks anymore because fiat is worthless. Thieves only rob bitcoin because it is one of the most valuable asset in the world
Merchants are probably not going to help anyone in recovering stolen cons.
Let's say I stole a bunch of bitcoins and bought a nice 70" LCD HDTV from Newegg (value of $3000 USD)
Newegg shipped it to me and they know who I am.
Three weeks later some guy in Japan tracked the transaction/address and contacts Newegg to get his stolen bitcoins back.
What is the incentive for Newegg to do anything at all? If they do all the work how will Newegg benefit from it? If it is proven that I did buy the HDTV with stolen bitcoins, Newegg has to give the bitcoins back to the owner, and then they have to go through more trouble to get their HDTV back or sue me for the $3000 USD value.
Why would any merchant go through the headaches and lose money to help someone in another country?
If they sit and do nothing, their bitcoins gets exchanged and they get their money for the products they sold.
Let's say I stole a bunch of bitcoins and bought a nice 70" LCD HDTV from Newegg (value of $3000 USD)
Newegg shipped it to me and they know who I am.
Three weeks later some guy in Japan tracked the transaction/address and contacts Newegg to get his stolen bitcoins back.
What is the incentive for Newegg to do anything at all? If they do all the work how will Newegg benefit from it? If it is proven that I did buy the HDTV with stolen bitcoins, Newegg has to give the bitcoins back to the owner, and then they have to go through more trouble to get their HDTV back or sue me for the $3000 USD value.
Why would any merchant go through the headaches and lose money to help someone in another country?
If they sit and do nothing, their bitcoins gets exchanged and they get their money for the products they sold.
I think at some point an address can be tied to a person Some examples would be:
Pay for lunch with BTC - Cameras/Witnesses
Trading BTC for fiat - Identity is known for Wire Transfers
Buying a TV through NewEgg - Name/Shipping Address
Selling Coins to People - WU has cameras, Loading cards gives places you spent at which have cameras not to mention phone numbers and IP addresses
Pretty much anything that involves you getting a good or a physical service you can be identified.
The only thing I can think of you can do with BTC that is anonymous is trade between coins, make more BTC, and look at them.
Citizens might have a hard time tracking down a person, but law enforcement with warrants and all their other goodies could find people easy enough.
Pay for lunch with BTC - Cameras/Witnesses
Trading BTC for fiat - Identity is known for Wire Transfers
Buying a TV through NewEgg - Name/Shipping Address
Selling Coins to People - WU has cameras, Loading cards gives places you spent at which have cameras not to mention phone numbers and IP addresses
Pretty much anything that involves you getting a good or a physical service you can be identified.
The only thing I can think of you can do with BTC that is anonymous is trade between coins, make more BTC, and look at them.
Citizens might have a hard time tracking down a person, but law enforcement with warrants and all their other goodies could find people easy enough.
Correct me if I'm wrong, but this is one of the greatest things about bitcoins. The stolen coins can be tracked and the spending of them will lead them back to the thief.
Thats something that can definitely not be done with fiat.
Not in all cases. They can always be passed through a mixer and be sent to random addresses. If they hit an exchange, then becomes harder to trace. Thats something that can definitely not be done with fiat.
They would be stupid to send to an exchange. Exchange owners have to show they are responsible and any good one will immediately lock the funds.
Correct me if I'm wrong, but this is one of the greatest things about bitcoins. The stolen coins can be tracked and the spending of them will lead them back to the thief.
Thats something that can definitely not be done with fiat.
Thats something that can definitely not be done with fiat.
They can be broken up in smaller transactions and mixed. It will take time and will incur a lot of fees but its possible to get away cleanly.
Correct me if I'm wrong, but this is one of the greatest things about bitcoins. The stolen coins can be tracked and the spending of them will lead them back to the thief.
Thats something that can definitely not be done with fiat.
Not in all cases. They can always be passed through a mixer and be sent to random addresses. If they hit an exchange, then becomes harder to trace. Thats something that can definitely not be done with fiat.
Just doesn't make sense to me........21 million out there......5 million stolen
I would think it's as easy as clamping down on the 16 million by tracking their addresses etc. any movement thereafter should raise a red flag?
I would think it's as easy as clamping down on the 16 million by tracking their addresses etc. any movement thereafter should raise a red flag?
5 milion usd worth of btc was stolen, not 5 million bitcoins
Just doesn't make sense to me........21 million out there......5 million stolen
I would think it's as easy as clamping down on the 16 million by tracking their addresses etc. any movement thereafter should raise a red flag?
I would think it's as easy as clamping down on the 16 million by tracking their addresses etc. any movement thereafter should raise a red flag?
(Though I might be checking where these BTC were coming from, before I'd buy them)
really ? Good luck to fo this ... before or after shipping.try this with exchange to identify the miner ...
yea you can see where they are sent and
"spent" i guess but virtually getting those coins back is like a dream lol , u can use a wallet from some jun k computer at a library and realisticly you would probly never find the man or woman that steal from you. its crazy
"spent" i guess but virtually getting those coins back is like a dream lol , u can use a wallet from some jun k computer at a library and realisticly you would probly never find the man or woman that steal from you. its crazy
There are mixing services, there are anonymous coins you can buy then sent to another wallet(s) and make your tracks vanish... unfortunately the thieves have more means to hide than 2 years ago.
If the thief has managed to sell the stolen coins anonymously, there will be no way to track him down. The buyer of the stolen Bitcoins can't be made responsible for the theft (Though I might be checking where these BTC were coming from, before I'd buy them)
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