Bitcoin Forum

No one talks about this? It's about 40,000 BTC lost.

http://www.reddit.com/r/Bitcoin/comments/2zf5vd/the_2nd_largest_darknetmarket_evolution_has_run/

http://www.reddit.com/r/DarkNetMarkets/comments/2zeuxo/complaintwarning_evolution_admins_exit_scamming/

GooD opportunity for those working on decentralized marketplaces.

I don't quite believe it's an exit scam , i've read somewhere they've got some issues due to a large amount of withdrawals

The "get the money and run" scenareo seems as realistic or more. Why would you trust a centralized exchange, let alone a centralized dark market? people dont learn.

Something something The Free Market something something Rational Actors something something Best Interest something something Down with Regulations

This issue is the single biggest threat to bit coin. People don't lose faith over chinese banks and potential regulations. They lose faith when their currency is stolen. People need to bring pressure on law enforcement to pursue this kind of stuff. They also need to secure their own coins. This kind of stuff is easy to avoid if you simply keep your currency offline.

No, people just want to have stable and secure bitcoin related projects. That is the desire for centralized services in decentralized bitcoin world. It is a shame that people running projects like that tend to be filthy scammers.

The problem here is that someone who is probably just a bit of a tech nerd found an opportunity to do well for themselves using this new and exciting technology.  Soon enough he had 40k BTC under his control, that is $12million.  How many people here wouldn't at least consider running off with $12million in fairly anonymous money?

This guy will probably never see that much money again, he might be a nice guy, but money currupts, and we see it time and time again in the Bitcoin world, that's why you have to be very sure of where you invest your bitcoins.  I wouldn't be surprised if someone tracks him down or puts a bounty out to find him, I personally wouldn't be able to sleep or live with myself, but it is easy for me to say that when I don't have $12million under my control...

Not to mention so many average joe's out of serious money and in serious trouble because of it

lol .. well, every single marketplace on the deep web eventually tips people off

i meant RIPS people off

I don't know what Evolution is, this is how disconnected I am. This happened less than 20hours ago, someone named DeepThroat claimed to have inside information and possibly the admins real identity. Could he turn this around with 40k btc on the line? Have to wait and see.  8)

seems like this decentralized marketplace is in live production since 2014-sept:

https://www.youtube.com/watch?v=PQZYuelwtZU

seems to be integrated into the wallet...

It might be way more than $12million, according to "sources", 130k BTC were stolen. I originally heard it was 40k, but it's hard to find reliable information until a story has been out for a couple of days.

http://www.deepdotweb.com/2015/03/18/interview-with-nswgreat-evolution-staff-member/

i am new to following bitcoin is something like this part of the drop in price today. Or is todays drop normal?

Normal.  We usually drop to $0 before retracing though, so this is a tiny move.

there is nothing "normal' in terms of bitcoin volitity. usd and other currencies shift at most 1-2? in the short term bitcoin can do big jumps.

go to sites like coindesk and look at the price charts  eg in 2 days in january it went from $267 to $177 and a day later back to $210.

 ;D

Today's drop was more than normal, compared to daily prices changes in the past few months. Yesterday IIRC the peak was about $295 USD, and now a coin is selling for about $255 USD, which translates to a 15% drop in less than 24 hours.

A 15% drop in 24 hours normal? That's why I love this crazy world of Bitcoin. You won't find people saying things like that anywhere else in the financial world.

Anyone putting a figure on the exit scam is purely speculating, we don't know how much, because it was anonymous, and also have to say, EVI was the most professional to date, too bad they abused this skill. EVO should have gone offline anyway, because it was next on the list. The creators of EVO will be back in a few months, really don't know which market to turn to now, they can all vanish in a instant...

The approximate amount is known a staff member came forward.  As for the owners I am sure they made dangerous enemies and they better hide

Why should they hide, they were so hardcore pro that no-one knows who they are. They were the only darkmarket with so good security that were never down, NEVER! Believe me that authorities wanted them down in the same time als silkroad reloaded, but they simply couldn't. Those guys will return with a new darkmrket in a few months, really don't know who to trust now, the only option now is a decentral market, with no-one in charge, but that seems impossible...

time to check NXT Freemarket or OpenBazaar :)

Nucleus, pandorra or middle earth are better in my view :) Yet EVO really was the best....

Speaking of which, when the heck is OpenBazaar launching?!

Sh#t's taking too long, we NEED a Decentralized market place badly, especially with this Evolution news.

No trust whatsoever with centralized market places, even with multi-sig escrow...

How many Bitcoin exactly did evolution stolen? Some say 400 Bitcoin while coindesk says $12 Million in Bitcoin? What's the truth?

Coindesk loves to exaggerate and they rarely investigate and confirm their news. Large part of the stuff they're producing comes from these news tips that people are sending and the rest is from google.

Most likely to be a dump from the stolen coins, I can imagine that they would try to get rid of the coins as soon as possible.


CoinDesk is known for exaggerating. Read around on reddit and determine your mean.

"hello, officer jones, I need your help."

"what can i do for you?"

"Someone on the internet said they would give me internet money if I mailed them drugs, to make sure no one got ripped off someone named Vector would hold the money until the drugs were shipped. After I put the drugs in the mail Vector ran away with my internet money."

"Ok, son, we'll find your internet money while you're in jail for putting drugs in the mail and possession with intent to sell, hopefully we'll find it in the next 5 to 10 years, have a good night."

But isnt this old news though? I mean the whole running away darkemarkets users funds etc.

I remember most darkmarkets are good for a certain time, and the owner decides to pull the plug and sweep all the btc stored in escrow supposedly.

Then comes back with a new name, new face, with the same concept to pull this all over again.

Yup. That's not going to stop druggists coming back time and again though. It's about as perfect a scam as is humanly possible.

every market on the darknet is eventually a scam .. pays more to run with the funds rather than wait for the feds

If the market doesn't run with the funds, then it's probably the feds who are running it in the first place.

This newspaper says one whistle-blower claims that they have taken 130,000 Bitcoins belonging to users.

http://www.telegraph.co.uk/technology/news/11482252/Creators-of-drug-dealing-website-flee-with-22.5m.html

when are people going to learn not to store funds in online wallets? ESPECIALLY not a freakin' darknet wallet .. ugh

This journalist got the names all wrong. The whistle blower is NSWGreat, but the person with information on Verto and Kimble is DeepThroat. I followed the reddit thread today and DeepThroat said he isn't going to reveal anything and has "given up" because he lost patience with "idiotic posts"  :-\

You mean like people stopped using dollars after Bernie Madoff's scam was revealed?

All Bitcoin being stolen means is it's worth enough to make stealing it worthwhile.  Stupid people will continue to get swindled.  Smart people will protect their money.

This has nothing to do with smart or dumb, EVO just took off, after being the most succesfull dark market. Very smart people lost money too ;). But DARK markets can't make people lose faith in Bitcoin, when legitame business start scamming them, or your wallet is empty when you open it, THAT will make people lose faith in bitcoin.

>Very smart people
>People who leave money in a darkwallet run by unknown criminals

Pick one.

We dont know if the bulk was in escrow or not. Remember the escrow was a complicated unique process for that site from what I read