BTC increasing because of an attack on FIAT based wallet accounts, $350M stolen

[goxed]

Bank Hackers Steal Millions via Malware.



http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?_r=0


FIAT holders are slowly losing faith in their fav. currencies, converting it to crypto cold wallets.

[ajareselde]

Bank Hackers Steal Millions via Malware.



http://www.nytimes.com/2015/02/15/world/bank-hackers-steal-millions-via-malware.html?_r=0


FIAT holders are slowly losing faith in their fav. currencies, converting it to crypto cold wallets.

Im wondering is this really related to the price rise, its somewhat too early to see reaction from that event projected on bitcoin price.
Also, its likely that owners are going to be refunded in some way, which i think is general practice in those situations.

[billyjoeallen]

This has nothing to do with Bitcoin. Is there any evidence that bitcoin is being purchased with stolen money? Any reason to think so? 

[ajareselde]

This has nothing to do with Bitcoin. Is there any evidence that bitcoin is being purchased with stolen money? Any reason to think so? 

I believe he was trying to say that clients are rushing in to bitcoin with their money in fear they will loose it otherwise,
but yes, i also agree it has nothing to do with bitcoins price moving up.

[Wandererfromthenorth]

lol dude are you even serious

[croato]

Maybe not related but sure feels good.

[gentlemand]

Um, no?

[the_sunship]

When you hear them stealing billions, then maybe crypto gets a bump.

[ssmc2]

When you hear them stealing billions, then maybe crypto gets a bump.

In the article they mention that the real amount stolen could be triple that. How about just 1 billion?

[billyjoeallen]

When you hear them stealing billions, then maybe crypto gets a bump.

The article speculates that many of the banks are underreporting the thefts for fear of bad publicity so It may be possible that billions have been stolen.

Of course the best way to rob a bank is to own one

[criptix]

over 100 banks in 30 nations, we talking about the US, Europe, Japan, China, Russia.
some banks had $10 million transaction limits, they got robbed several times lol.
if the report is right and this operation is going on for nearly 2 years now - i bet it is more then 300 millions....

/edit

interesting though if some money went into crypto?
they could basically transfer the money everywhere they wanted.

[the_sunship]

Now that I think about it... It could be this pump is the hackers buying bitcoin. Now the news is out and they are being hunted. They have to digitally hide their tracks and can with bitcoin/tumblers

I'm sure these hackers are well aware of bitcoin for laundering.

[billyjoeallen]

Now that I think about it... It could be this pump is the hackers buying bitcoin. Now the news is out and they are being hunted. They have to digitally hide their tracks and can with bitcoin/tumblers

I'm sure these hackers are well aware of bitcoin for laundering.

Most exchanges have to comply with KYC/AML laws. You could pump by buying on localbitcoins but it would be more expensive. The bigger advantage is keeping the loot, not laundering. Hiding it and moving it is where BTC really helps. 
Tumblers would take a long time to mix that much scratch. You could just mix it as you needed it, a little at a time and be set for life.

[Brewins]

This has nothing to do with Bitcoin. Is there any evidence that bitcoin is being purchased with stolen money? Any reason to think so? 

when something happens and some exchange loses coins or people lose their BTC, there are lots of people to say that we are going nowhere but down and no one will never user BTC because of it.

I think this topic is more a parody than a theory about why prices are rising