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Author Topic: Beware of LocalBitcoins.com  (Read 14672 times)
fishb0ne
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January 30, 2015, 02:08:25 PM
 #81

Correct, but those instant access to money limits are increased over time as you conclude more transactions and build trust with Circle. I've only been using it for a few months now, and never used LocalBitcoins, but Circle is amazingly easy to use.
The issue with LocalBitcoins, for my area, is that the sellers are few and far between that are willing to do cash, and they usually have minimum limits that aren't necessarily accessible to everyone, plus their markup is crazy high.
There's pros and cons to each option, Circle works best for me and I have absolutely no reason to ever even look at Localbitcoins.
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coinmaster222
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March 06, 2015, 10:46:52 AM
 #82

I have used cex.io and have no probs in months,not sure of LBC only used once and was bank transfer and everything went smooth but hear a lot of stories

BurtW
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March 24, 2015, 05:10:21 PM
 #83

I was arrested for trading Bitcoins, on Localbitcoins.com, in Colorado.

So far defending myself has cost our family almost $200,000 

We can use all the help we can get, please see the fundraising web site put up by my wife Jean: 

http://www.burtw.com

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
Tabata11
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March 24, 2015, 06:13:37 PM
 #84

Can anyone post a list of payment that is safe to accept on localbitcoins? I have taken cash deposits, walmart2walmart, moneygram, and WU. I'm assuming the payments I take are all safe. Correct?
koshgel
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March 25, 2015, 03:07:43 AM
 #85

I was arrested for trading Bitcoins, on Localbitcoins.com, in Colorado.

So far defending myself has cost our family almost $200,000 

We can use all the help we can get, please see the fundraising web site put up by my wife Jean: 

http://www.burtw.com

Wow that as an astronomical sum..

Why were you targeted by the authorities? Was it the sheer amount of Bitcoins you were trading? Or just unlucky?
bitboy11
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March 25, 2015, 02:06:34 PM
 #86

While I have heard good things about localbitcoins.
I believe the safest way to buy and sell BTC is on an exchange platform.

Although localbitcoins is well established, cash and face to face transactions must be done with great caution and coordinated properly.

There are a myriad of  potential dangers that one must deal with when exchanging funds in public location, example armed robberies and in some cases con-artists supposedly "forgetting" their laptops and borrowing yours with which they may plant malware or create exploits in order to later compromise your system.
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March 25, 2015, 02:37:51 PM
 #87

While I have heard good things about localbitcoins.
I believe the safest way to buy and sell BTC is on an exchange platform.

Although localbitcoins is well established, cash and face to face transactions must be done with great caution and coordinated properly.

There are a myriad of  potential dangers that one must deal with when exchanging funds in public location, example armed robberies and in some cases con-artists supposedly "forgetting" their laptops and borrowing yours with which they may plant malware or create exploits in order to later compromise your system.

Or getting arrested.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
bitcoinluv79
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March 25, 2015, 03:59:05 PM
 #88

I was arrested for trading Bitcoins, on Localbitcoins.com, in Colorado.

So far defending myself has cost our family almost $200,000  

We can use all the help we can get, please see the fundraising web site put up by my wife Jean:  

http://www.burtw.com
It's insane that you got arrested for this. Puts fear into my heart. I've been wanting to get into selling btc for some profit on the side, but it's scary that you could be set up so easily. An undercover could easily mention in the middle of you sending the bitcoins that he uses darknet markets and possibly charge you before you even get a chance to turn him away. They can be so sly and shady, I really hate the regulation and police who have nothing better to do than set up "stings" on localbitcoins.

I would absolutely donate to you if I had some funds to spare. I hope everything works out for you. Your case could decide the future of bitcoin selling and these "stings" being legal or not. If I, by some miracle come accross a large sum of money (win the lottery etc) I will donate to you without a doubt.
BurtW
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March 25, 2015, 05:38:43 PM
 #89

I was arrested for trading Bitcoins, on Localbitcoins.com, in Colorado.

So far defending myself has cost our family almost $200,000 

We can use all the help we can get, please see the fundraising web site put up by my wife Jean: 

http://www.burtw.com
It's a bit unbelievable that you spent $200k on legal defense. Perhaps you mean you've lost $200k in assets due to government seizures?

I think the best lawyer would 'only' cost $10-20k.

Anyways, best of luck, it's a truly frightening situation.
Obviously you have never had to hire TWO good federal defense firms, one for the criminal felony charges and the other for the civil forfeiture.  As I said, my defense is approaching $200K, this does not include the property (money, Bitcoins, etc.) they seized and want to keep.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
cointell
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March 28, 2015, 05:01:29 AM
 #90

I wish you luck with this, but there is no way you're getting anywhere close to $200K without getting shut down by paypal.

Anyone want to place bets on how long that paypal account survives?

This might make for an interesting Sixth Amendment case.
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March 28, 2015, 02:53:09 PM
 #91

I wish you luck with this, but there is no way you're getting anywhere close to $200K without getting shut down by paypal.

Anyone want to place bets on how long that paypal account survives?

This might make for an interesting Sixth Amendment case.
In addition to PayPal we also accept Bitcoins at the donation site:  www.burtw.com

Yes, the sixth amendment need to be amended to read  "If they can afford it."

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
BurtW
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March 28, 2015, 03:44:23 PM
 #92

oh yes,more sites is very untrust.
What are you trying to say?

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
bluudz
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March 30, 2015, 05:08:20 PM
 #93

I have done plenty of trades on LBC without any problem.
BurtW
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March 30, 2015, 07:15:45 PM
 #94

I have done plenty of trades on LBC without any problem.
So had I.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
BurtW
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July 16, 2015, 02:58:44 PM
 #95

Selling bitcoins on localbitcoins cost me $284,373.00 in legal fees and other expenses.  We had to use our retirement savings and take out a second mortgage on the house - which we will be paying off for years to come.  I take back everything nice I ever said about localbitcoins.

Quote
STATEMENT


Federal Criminal Case Against Burt Wagner Dismissed

at the Request of the Department of Justice


July13, 2015


I am very excited to announce that the criminal case against my client Burt Wagner was dismissed today. The U.S. Attorney's Office for the District of Colorado filed a motion earlier today requesting that the U.S. District Court Judge handling the case, the Honorable William J. Martinez, dismiss the case against Mr. Wagner. Judge Martinez subsequently issued an order dismissing it.

On October 7, 2014, Mr. Wagner was charged in a single-count indictment with violating 18 U.S.C. § 1960 (operation of unlicensed money transmitting business) in connection with his purchases and sales of bitcoins. Mr. Wagner entered a plea of not guilty. Although Mr. Wagner and I both wish he had never been charged, we appreciate the U.S. Attorney's Office ultimately doing the right thing and dismissing the criminal case against him.

With this dismissal, Mr. Wagner can begin the process of resuming his regular life. It has been a true privilege to represent Mr. Wagner. I could not be happier for him and his family.

Contact:

Brian Klein
Baker Marquart LLP
10990 Wilshire Boulevard, 4th Floor
Los Angeles, California 90024
Phone: (424) 652-7814
Email: bklein@bakermarquart.com

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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July 17, 2015, 12:18:43 AM
 #96

Selling bitcoins on localbitcoins cost me $284,373.00 in legal fees and other expenses.  We had to use our retirement savings and take out a second mortgage on the house - which we will be paying off for years to come.  I take back everything nice I ever said about localbitcoins.
I am interested in this statement. Previously, your primary criticism was regarding civil forfeiture and the incentives this gives law enforcement to go after the innocent.

Was the government's "suspicions" somehow based off of something that happened on LBC? Did LBC actively facilitate in helping law enforcement gather "evidence" "against' you?

I realize this is most likely ongoing litigation (so you can get the money they stole, er seized from you, however any response, no matter how vague would be appreciated.

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September 09, 2015, 10:57:22 PM
 #97

On top of all this, in view of most recent arrests in Florida, any seller on localbitcoins (especially high volume one) can potentially be arrested for a mere fact of trading. States define such activity as money transmitting, which in turn requires proper state license. The arrest mentioned above were made by undercover law enforcement agents posing as Bitcoin buyers. So, the next time you arrange for a meeting to sell bitcoins, you could be meeting with the police officer.
I have gotten numerous calls for ransomware Bitcoins this week, and at this point I am 100% sure they are all cops. Be very careful guys, if anyone calls you asking for Bitcoins and they mention ransomware tell them you can't do business and hang up. That's what I've been doing, but I still think they are using this against me somehow since I'm supposed to file suspicious activity reports too. In any case no new customers from LBC for awhile, it's too creepy. It really sucks how they are trying to contrive illegal activity, I never ever get mentions of illegal activity from customers but the undercover cops come along and try to force it upon you, since they barely have a case without it.

I think this is fallout from the coin.mx bust... the only illegal activity they held against coin.mx was a customer mentioned ransomware. Now they are going after coin.mx's customers. Combined with the New York Bitlicense team patrolling nationwide it's a shit storm.

What happens if they mention ransomware a second after you send bitcoins? You're fucked. Literally if you have any feeling it's an undercover don't show up to the deal.
There are two ways you can get a ransomware request:

1) "Hey, my computer is locked up and it is asking for Bitcoins.  Can you sell me a small number of Bitcoins to send to the bastards so I can get my data back?"

2) "I have a bunch of Bitcoins I need to convert to cash, BTW I got them from [ransomware/drugs/selling stolen goods/etc.]"

It seems to me the first case is not a problem.  In fact you are helping someone who is in big trouble and the sale would be small, right?

Are they really saying case 2)?

BTW I will be speaking tomorrow in Boulder:

http://www.burtw.com/speaking-schedule--new-.html

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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September 10, 2015, 03:21:23 AM
 #98

I would be interested in how helping someone get their data back from a ransomware scam is criminal.  The criminal is the one doing the ransomware, right?

How did they turn selling Bitcoins to someone so they can get their data unlocked into a criminal offense?

I don't doubt they did, just wondering what legal gymnastics it took.

Yes, the feds do operate undercover purchases and sales of Bitcoins as they see fit.  I was the victim of these "sting" operations and it cost me, my family, and my finances dearly.

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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September 10, 2015, 03:31:05 AM
 #99

Was this police department charged with buying Bitcoins in order to get their files unlocked?

https://www.bostonglobe.com/business/2015/04/06/tewksbury-police-pay-bitcoin-ransom-hackers/PkcE1GBTOfU52p31F9FM5L/story.html

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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September 10, 2015, 03:48:15 AM
 #100

OMG that is the most fucked up thing I have seen lately and I have seen a lot of fucked up things:

http://www.justice.gov/usao-sdny/file/632166/download

See paragraph 9.

Basically if you sell Bitcoins to help someone get their data back they can charge you with "knowingly enabling the criminals responsible for the attacks to receive the proceeds of their crimes"

AGAIN I ASK did you go put all the cops that paid the ransom for their data in jail?  THEY ALSO PAID THE CRIMINALS!!!  Every single cop, judge, agent who has ever paid off the criminals running the ransomware should be immediately arrested.  Hop to it Aaron.

So helping people get their data back from a fucking criminal is against the law.

To all the Homeland Security agents reading this:  how do you sleep at night?

Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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