[2017-07-24] Pennsylvania policestumbled on $40 million bitcoin scam

[Odetas]

http://www.msn.com/en-us/money/markets/pennsylvania-police-hunting-for-stolen-laptops-say-they-stumbled-on-dollar40-million-bitcoin-scam/ar-AAoJifL?li=BBmkt5R&ocid=spartanntp

Excerpts:

Law enforcement in Bucks County, Pa. likely didn’t think they were dealing with a dark Web criminal pro when Theodore Price’s name first popped on their radar.

 
According to federal court documents, detectives from the Northampton Township Police Department north of Philadelphia began tracking the unemployed 30-year-old earlier this month after fielding a complaint from Price’s girlfriend’s parents about stolen laptops. But what started out as an alleged deadbeat boyfriend boosting valuables quickly accelerated into a wilder situation — and one with considerable more money involved.
By his own admission, Price told investigators he had stolen millions of dollars in Bitcoins, the online currency powering illicit transactions online. The self-professed hacker claimed he’s pocketed nearly $40 million in online tender. If true it would make the bizarre case one of the biggest digital currency heists ever. And it may or may not be true. While a federal agent said in an affidavit that “the estimated value of Bitcoin obtained” fraudulently “is over $40 million,” the government withdrew, at least for the moment, a formal charge related to the bitcoin.

[iamTom123]

Can this man be connected somehow to that Parity wallet hacking that occurred days ago or the hacking incident that purged the ICO of CoinDash? Anyway, it is always sad to hear stories like this where Bitcoin can be put into the bad limelight. There should be a thorough investigation on this man and his many online dealings so we can have an inkling on how to stop and prevent the same situation from occurring.

Anyway, scamming and hacking have been in existence since the days I was born. As long as we are still online and we are connected to each other, there is that risk that someone or a group of guys can be tracking us and if given an opportunity almost in an instant can drain us of our digital assets. We have to be extra careful.

[odolvlobo]

Can this man be connected somehow to that Parity wallet hacking that occurred days ago or the hacking incident that purged the ICO of CoinDash?  

According to the article, he was attempting to spread malware that replaces a Bitcoin address in browser with his own address, so that when someone sent bitcoins, then inadvertently sent them to him.

It is odd that he claims that he stole $40 million in bitcoins. It is unlikely to be true in the first place, but why would anyone admit to that? Why would he sell stolen laptops and jewelry despite having $40 million? I don't believe it. He is either stupid or he is extraordinarily stupid.

Anyone know if he is on BitcoinTalk? I wonder if he is one of the scammers that plague this site.

[Odetas]

He clearly sounds like he has delusions of grandeur.  I don't know how legit his exploit was.  For all we know, he was simply identifying bitcoin quantities in wallets.  But the FBI isn't dumb either, so they had to validate his claim somehow, though short of charging him with anything.

[veleten]

funnily enough he will not face charges for this
and I don't think he was able to steal 40 millions in bitcoins,that would be over 1500 coins at the current prices
there are people that love to come to a police station and confess committing crimes
even telling  very believable stories etc. only to be found slightly inadequate mentally shortly after
in my books admitting to stealing 40 mil $ is being inadequate to say the least

[Coin-Keeper]

I don't believe this guy stole >1500 BTC and then used a couple hundred dollars worth of stolen laptops, plus then bragged about it to police.  This is either a total fabrication, or he needs a "padded room" for awhile.