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Curious as to how these types of frauds will be handled by the court system. Will the stolen BTC become defunct and will that damage the rest of the overall system?
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What does everyone think about their wallet functionality? I just received some free tokens last week from a friend
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News being reported from Europe by EU law enforcement agencies about the arrests of six individuals involve in a multi-million crypto fraud case. These arrests were executed by the United Kingdom’s South West Regional Cyber Crime Unit in collaboration with other European authorities after an investigation of fourteen months.
The UK’s SW RCCU carried out this task as a joint operation with Europol, Eurojust, Dutch police and the Britis National Crime Agency The reason for this fourteen-month old investigation has to do with a €24 million in virtual currency that got stolen. This heist was carried out by five men and a woman.
Their arrest took place while they were home in diverse locations in Europe such as Charlcombe, Staverton and Lower Weston in the United Kingdom, and Amsterdam and Rotterdam in the Netherlands.
That is a huge success for European authorities. Arresting hackers that made online crimes will make our community safer and more people will start eventually investing in bitcoin. So if they reside in about twelve countries, does that mean that the criminals are not only 6 and there are more to be arrested? Interesting question. I guess it would take a company like ciphertrace to assist in tracing movements from wallets and their locations to find these individuals |
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Has anyone heard of the Elixxir platform? Privacy focused payments application with a messaging functionality is looking to be the truly decentralized WhatsApp alternative. I acutally have experience getting booted off from WhatsApp which I still have no idea what from. Someone once told me it is if you mention the word crypto. Is that true?
Knowing that Elixxir's platform wouldn't outright do that.
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NULS just released what they are calling an 'out-of-the-box' solution that is enabling everyone even those without experience to build their own blockchain in under 10 minutes. The fact that more businesses are starting to implement blockchain technology is the primary reason NULS was looking to help businesses that might not be able to identify the proper developers. What they are calling ChainBox the platform allows users to not only integrate blockchain technology but also personalize with different features depending on their needs. Another great aspect to implementing NULS is the cross-chain transactions will be able to support Bitcoin, Ether, Bitcoin Cash, Binance Coin and more. Seeing that blockchain devleopers are in high demand for businesses, this couldn't have come at a better time imo. https://cointelegraph.com/news/open-source-platform-lets-users-build-their-own-blockchain-in-under-10-min |
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I know NULS has cross chain capability which I find pretty crucial especially for new chains just now coming on the scene
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I never really thought about it until reading this thread but you are right. I do trust projects that are much more actively involved on all fronts. the ones that show up and then ghost out shouldn't be trustworthy what so ever
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I think this is a great reaction in regards to the FATF travel rule. $1k seems like a fairly low amount to keep traces of but if there are no real red flags in the movements of money the exchanges won't have any way to access these individuals identities. It's companies like ciphertrace and shyft that are doing their best to preserve crypto and people's privacy.
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This is actually not cryptos doing but gullible people allowing other people to get their money off of their hands in hopes of handsome returns in a short span of time. This is nothing new, and also nothing to be proud of as well. As long as there are people willing to be scammed/robbed off of their money, problems like this wouldn't end no matter how many regulations they put in place to combat these kinds of activities.
Should be 22k btc and not 22-M as stated on the article as that would totally be over the 21-M hard cap of the supply, anyway.
Thank you for picking that up. I didn't even notice but you're right about the hardcap. I do think there are a lot of gullible people who fall trap to these scams. I just wonder how we can avoid such a large number from being taken during these large scams |
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Ya it's tough because people always fall into the trap of free money and probably more so in this wild wild west of crypto. I have more confidence knowing cyber security firms like ciphertrace are doing what they can to negate these types of occurrences
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I just had a thought after was reading about Huobi Mining Pools' recent announcement of adding NULS node to their services. Does the largest mining pools node selection ever make you question of investing in a certain coin?
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Good thing most BTC atms now have AML compliance. At least I read that about the crypto intelligence firm ciphertrace is
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As much as we don't want scam projects to appear I think there are people who are going to build something they truly believe in. I don't necessarily think we need to ban against anything but instead educate people about why it could potentially be a scam project. There is so much misunderstanding happening about what is right and wrong
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Binance hands down. at least that is what I would use
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I don't know how you would reverse transactions. That's the whole point of blockchain the transactions are immutable. I think having ciphertrace helping with AML compliance is a better move to protect the overlying architecture of crypto
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A public blockchain can easily be traced especially with the proper technology. Ciphertrace reported $1.2 billion total they were able to see was either lost through theft, scams or fraud. I don't know the exact hard number which was attributed to the dark web exactly
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Oh man. Libra coin is really making people bullish but I hope all these people forcing the regulations actually care about the underlying goal of crypto. Libra is not that.
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Guys David Chaum is an OG, you should know it by researching his credentials. This guy is a living legend, though I'm investing to random projects but I might invest to this one.
I agree. Just one quick search and you can see this guy has really invested his life to protecting cryptography and privacy. I am also very interested to see whre Elixxir goes I was feeling interested in this one too. David chaum is not only the reason but i heard ripple already invested 3 million dollars to the elixxir and i hope i can take apart to participate in the crowdsale in the future. This will be so easy to be the next potential project like harmony. Yes! I heard that too! I know some people are really investing their time and resources into the elixxir project and for a good reason |
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