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If BTC remains as BTC and is never converted to fiat, is it more difficult to accuse someone of fraud?
My friend was recently the victim of online fraud (in Canada) and we found (his dad's a lawyer) that even with an IP address, you are unlikely to be able to recover any losses because of the inability to prove the transmittal of funds (also the IP is in Europe).
Is this par for course with BTC? How can we get around this? In looking at ALL Bitcoin related heists and apprehensions, all suspects have at one point involved fiat with their business. Is fiat the KEY to legal recourse?
Technically, no. However, it's going to make it a whole lot easier to get your money back.My friend was recently the victim of online fraud (in Canada) and we found (his dad's a lawyer) that even with an IP address, you are unlikely to be able to recover any losses because of the inability to prove the transmittal of funds (also the IP is in Europe).
Is this par for course with BTC? How can we get around this? In looking at ALL Bitcoin related heists and apprehensions, all suspects have at one point involved fiat with their business. Is fiat the KEY to legal recourse?
You'd be best off trying to track the person down based on the information you have about him. If it's not a huge amount of money, many fraudsters will just give you back what they stole if you contact them through a real life avenue, like Facebook.
