nutildah
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Happy 10th Birthday to Dogeparty!
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November 08, 2022, 03:28:14 PM Merited by JayJuanGee (1) |
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Assuming the IRS-CI folks actually took custody of the BTC, How in THE HELL did Zhong justify storing ~50k BTC in a way so insecure that this could even happen? Maybe they only have the addresses, and the private keys are somehow secure (like maybe a simple BIP39 passphrase???).
I am all for keeping your setup simple so you don't lose the coins via complication. But there is either more to this story, or our dear "Loaded" was incredibly ill prepared.
Reading through the court document it sounds like the feds just knocked on his door and said "Give us your Bitcoins." And he said "OK." He was also ill-prepared. But what's curious is how did nobody here know the coins had come from Silk Road? He found an exploit in the SR withdrawal system, stole 50,000 BTC, and then showed up here like 2 months later, and said, "check me out, I'm a whale." Given blockchain forensics were a bit more archaic back then. PS. Wonder if our little dump has anything to do with this? Nah, right?
I think it has more to do with the rumors of FTX being insolvent. Steady lads.
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Lucius
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Activity: 3346
Merit: 5930
Crypto Swap Exchange🈺
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It is hard for me to imagine how someone can gamble with someone's pensions in this way, unless they are bribed or totally incompetent. Just 2 months ago, their CEO spoke like this : “In terms of the risk profile, it is probably the lowest risk profile you can have in that it’s everybody else is trading on your platform,” OTPP CEO Jo Taylor told Reuters last week.
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cAPSLOCK
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Activity: 3766
Merit: 5146
Whimsical Pants
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November 08, 2022, 03:50:45 PM |
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Assuming the IRS-CI folks actually took custody of the BTC, How in THE HELL did Zhong justify storing ~50k BTC in a way so insecure that this could even happen? Maybe they only have the addresses, and the private keys are somehow secure (like maybe a simple BIP39 passphrase???).
I am all for keeping your setup simple so you don't lose the coins via complication. But there is either more to this story, or our dear "Loaded" was incredibly ill prepared.
Reading through the court document it sounds like the feds just knocked on his door and said "Give us your Bitcoins." And he said "OK." He was also ill-prepared. But what's curious is how did nobody here know the coins had come from Silk Road? He found an exploit in the SR withdrawal system, stole 50,000 BTC, and then showed up here like 2 months later, and said, "check me out, I'm a whale." Given blockchain forensics were a bit more archaic back then. PS. Wonder if our little dump has anything to do with this? Nah, right?
I think it has more to do with the rumors of FTX being insolvent. Steady lads. Yeah... that's it for sure. And I hope I am not evil/stupid for thinking this... but I HOPE FTX is insolvent. I am sick of the shitcoinery. And for some reason I just do not like SB-F. And I am sorry all these funds are losing so much teacher retirement money etc... but the people have to learn that 99.9% of crypto is pure scams.
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ChartBuddy
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Activity: 2282
Merit: 1800
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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November 08, 2022, 04:01:18 PM |
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philipma1957
Legendary
Online
Activity: 4228
Merit: 8375
'The right to privacy matters'
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November 08, 2022, 04:11:59 PM |
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come on buddy drop us under 19k.
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fillippone
Legendary
Online
Activity: 2268
Merit: 16251
Fully fledged Merit Cycler - Golden Feather 22-23
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November 08, 2022, 04:13:20 PM Last edit: May 15, 2023, 11:15:41 AM by fillippone Merited by JayJuanGee (1) |
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Well played CZ, well played. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2F8NY088j%2F61259902.png&t=665&c=MhhV6GKYO3qbmA)
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Toxic2040
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November 08, 2022, 04:14:32 PM Merited by fillippone (1) |
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nutildah
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Activity: 3094
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Happy 10th Birthday to Dogeparty!
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November 08, 2022, 04:27:00 PM |
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come on buddy drop us under 19k.
Not today Phil. Post Sam/CZ coitus pump incoming.
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philipma1957
Legendary
Online
Activity: 4228
Merit: 8375
'The right to privacy matters'
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November 08, 2022, 04:30:51 PM |
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come on buddy drop us under 19k.
Not today Phil. Post Sam/CZ coitus pump incoming. too bad. while i am set either way i would prefer a solid drop over a small pump. 23k would be nice but not likely.
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BobLawblaw
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Activity: 1855
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Neighborhood Shenanigans Dispenser
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November 08, 2022, 04:31:44 PM |
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Well played CZ, well played. ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FuXR20zo.png&t=665&c=fHc_GrpLXHJy_w) ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FSU0C1A6.jpg&t=665&c=_8g0k3TPqEi9TA)
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HI-TEC99
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Activity: 2772
Merit: 2846
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November 08, 2022, 04:42:17 PM |
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A big green dildo! ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fpreview.redd.it%2F69fbf5qaure91.jpg%3Fwidth%3D640%26crop%3Dsmart%26auto%3Dwebp%26s%3D3c03f337c1f8a077e84e0f0361b342e0c91fb1ad&t=665&c=2dSCnKNVA7eZ5w)
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HI-TEC99
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November 08, 2022, 04:50:02 PM Merited by JayJuanGee (1) |
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Assuming the IRS-CI folks actually took custody of the BTC, How in THE HELL did Zhong justify storing ~50k BTC in a way so insecure that this could even happen? Maybe they only have the addresses, and the private keys are somehow secure (like maybe a simple BIP39 passphrase???).
I am all for keeping your setup simple so you don't lose the coins via complication. But there is either more to this story, or our dear "Loaded" was incredibly ill prepared.
Reading through the court document it sounds like the feds just knocked on his door and said "Give us your Bitcoins." And he said "OK." He was also ill-prepared. ... They found some in a popcorn tin in his bathroom, and those look like casascius coins, or some other type of physical bitcoins. https://www.bbc.com/news/technology-63547765Officers say they found the Bitcoin dotted around his home on hard drives and other storage devices in an underfloor safe and on a tiny computer hidden inside a popcorn tin in a bathroom closet.
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ChartBuddy
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Activity: 2282
Merit: 1800
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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November 08, 2022, 05:01:18 PM |
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OutOfMemory
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Man who stares at charts (and stars, too...)
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November 08, 2022, 05:03:46 PM |
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It's OK if CZ truly is - and remains to be - the "good guy" as he presents himself. Pisspot SBF should have fucked off way earlier, imo.
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xhomerx10
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November 08, 2022, 05:14:22 PM Merited by JayJuanGee (1) |
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It is hard for me to imagine how someone can gamble with someone's pensions in this way, unless they are bribed or totally incompetent. Just 2 months ago, their CEO spoke like this : “In terms of the risk profile, it is probably the lowest risk profile you can have in that it’s everybody else is trading on your platform,” OTPP CEO Jo Taylor told Reuters last week. I don't know about the others but the Ontario Teachers' pension fund is flush. They currently have over $700k in assets per teacher (working and retired). With over $200 billion to invest, I'm not surprised some of it ended up at Celcius... probably a nothing burger with cheese.
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El duderino_
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Activity: 2618
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BTC + Crossfit, living life.
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November 08, 2022, 05:21:40 PM |
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El duderino_
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Activity: 2618
Merit: 12749
BTC + Crossfit, living life.
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November 08, 2022, 05:24:03 PM |
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.ibb.co%2FBjCxQqQ%2FE7-CF2-D5-B-5-C70-4328-BAD3-02-CB12-CBC971.jpg&t=665&c=N3SrXIiSboJvdQ) Where the dude at ?
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xhomerx10
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November 08, 2022, 05:27:19 PM Merited by JayJuanGee (1) |
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Assuming the IRS-CI folks actually took custody of the BTC, How in THE HELL did Zhong justify storing ~50k BTC in a way so insecure that this could even happen? Maybe they only have the addresses, and the private keys are somehow secure (like maybe a simple BIP39 passphrase???).
I am all for keeping your setup simple so you don't lose the coins via complication. But there is either more to this story, or our dear "Loaded" was incredibly ill prepared.
Reading through the court document it sounds like the feds just knocked on his door and said "Give us your Bitcoins." And he said "OK." He was also ill-prepared. ... They found some in a popcorn tin in his bathroom, and those look like casascius coins, or some other type of physical bitcoins. https://www.bbc.com/news/technology-63547765Officers say they found the Bitcoin dotted around his home on hard drives and other storage devices in an underfloor safe and on a tiny computer hidden inside a popcorn tin in a bathroom closet. They always have to make it sound so dramatic. Fuckin' hidden floor safe, popcorn tin or whatever. Most people don't overtly display easily removable items of value even inside their own homes. Initially, I would imagine everything in his house should have been "hidden" from the police officers. For example, I have some underarm deodorant hidden in a shaving kit stuffed away in a gym back hidden under a crib in my bedroom but that's just were I keep it between workouts... there might be some bitcoin on a USB stick wrapped in some stinky socks hidden in the side pocket of it too but nobody knows about either of those items! Oops.
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El duderino_
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Activity: 2618
Merit: 12749
BTC + Crossfit, living life.
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November 08, 2022, 05:33:33 PM |
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