Samourai Wallet seized by the feds

[mindrust]

So it goes like this:

Dark market quality, best of the best, the hardest privacy, the choice of the drugsellers, money launderers and terrorists: Monero

>

Porn addicts, weirdos, pot buyers: Litecoin MW

>

Everyone else: btc

I’m am OK with MW :d

[joker_josue]

One of the founders was arrested in Portugal and is waiting to be extradited to the US.

If anyone wants to read the official statement from the Portuguese police, it is here:
https://www.policiajudiciaria.pt/pj-colabora-com-fbi-na-detencao-de-suspeito-de-branqueamento-de-capitais/

[Smilevictorobinna]

We’ll have to wait and see if they are actually convicted of a crime.

Does it even matter? For those individuals, of course but not for Bitcoin.

What this act achieves is scaring every programmer out there from even contributing to anything privacy related since they now know the anti-privacy dictatorship can traumatize them and their families like this. Not to mention all the huge legal fees these "programmers" have to pay.
Speaking of traumatizing families and legal fees, lets not forget this is not a new thing in USA. Lest we forget arrest of BurtW basically just because he was a bitcoin user...

To be honest with you the world leaders are afraid of cryptocurrency they feel is a way of bringing down the value of there currency, so for a programmer it is advised to build a decentralized cryptocurrency just like Bitcoin in other to be in a save side.
The creator of Bitcoin is no were to be found no trace of him but what he created is growing bigger and stronger by the day and the reason behind it is that he built a decentralized cryptocurrency.
And believe me he would have been jailed if not that he disappeared.

[cygan]

just came across the following tweets from @freedomtech
which describes the fastest/most secure way to migrate all your funds from the Samourai wallet to the Sparrow wallet. you need 6 steps for this whole procedure and there is also a screen recording as a video guide for the whole process:


https://twitter.com/freedomtech/status/1783850003179454731

[RickDeckard]

just came across the following tweets from @freedomtech
which describes the fastest/most secure way to migrate all your funds from the Samourai wallet to the Sparrow wallet. you need 6 steps for this whole procedure and there is also a screen recording as a video guide for the whole process:
~

The guide is very well made (after all I wasn't expecting less from the people behind Foundation[1]) but as I discussed[2] previously with BlackHatCoiner[3], if anyone used their wallet without running their own node, you have to consider that the xpub can/have been obtained by the DOJ/FBI. For privacy sake it would be best if you created a new wallet and then transfer the funds to it.
[1]https://freedom.tech/
[2]https://bitcointalk.org/index.php?topic=5494114.msg63991397#msg63991397
[3]https://bitcointalk.org/index.php?topic=5494114.msg63991471#msg63991471

[DeathAngel]

They hate everything they don’t control & it might get worse eventually. Don’t let this kind of thing scare you away from self custody though, they can’t take Bitcoin off you if they aren’t able to tell where it is. I hear there are a lot of unfortunate boating accidents happening lately.

[anna_20]

what happens now to the money kept in those wallets? 

[bettercrypto]

Samourai Wallet has been taken down by the U.S. authorities: https://www.justice.gov/usao-sdny/pr/founders-and-ceo-cryptocurrency-mixing-service-arrested-and-charged-money-laundering. You can verify by opening samouraiwallet.com (it's under the authorities' control).

Another privacy enhancing tool goes down the road. Apparently, the governments use everything in their disposal to undermine the users' privacy. Samourai team had recently announced that they were developing a decentralized version of whirlpool, using the Soroban network. It could be the case that they foresaw their own disappearance.

Very frustrated. An important reminder and good quote is needed here.

>You will not find a solution to political problems in cryptography.

Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.

Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.

R.I.P. Samourai.

Literally speaking, that's sad news. It looks like the US government is starting to take a look at crypto wallets that are about to be shut down. I just hope that the other apps and wallets related to crypto will not be followed, which are helping a lot in the community of this field industry.

That Samurai wallet also lasted a year in this field, right? I just hope that the users can also release their funds so they don't get stuck. I hope they don't have another wallet to close.

[legendbtc]

We’ll have to wait and see if they are actually convicted of a crime.

Does it even matter? For those individuals, of course but not for Bitcoin.

What this act achieves is scaring every programmer out there from even contributing to anything privacy related since they now know the anti-privacy dictatorship can traumatize them and their families like this. Not to mention all the huge legal fees these "programmers" have to pay.
Speaking of traumatizing families and legal fees, lets not forget this is not a new thing in USA. Lest we forget arrest of BurtW basically just because he was a bitcoin user...

To be honest with you the world leaders are afraid of cryptocurrency they feel is a way of bringing down the value of there currency, so for a programmer it is advised to build a decentralized cryptocurrency just like Bitcoin in other to be in a save side.
The creator of Bitcoin is no were to be found no trace of him but what he created is growing bigger and stronger by the day and the reason behind it is that he built a decentralized cryptocurrency.
And believe me he would have been jailed if not that he disappeared.

They're not afraid of cryptocurrency or anything, what they're doing is showing everyone that they're still the dictators of the world and they can do whatever they think is right. They want to show us that there is no point in trying to fight them or think that we can escape their control. This is what I said before, we will never be able to fight the government if they really want to act against decentralization. Constantly spreading claims that bitcoin can help us fight them is completely harmful to us, it never benefits them if they actually take action.

Satoshi made the decision to stay anonymous at the right time and it has kept him safe so far. But I think if bitcoin was created in 2024 maybe things would be different, I don't think he could escape the government's hunt if he appeared again.

[Z-tight]

what happens now to the money kept in those wallets?  

BTC's are not stored in wallets, but on the blockchain. Since it is a self custodial wallet, in which users are in control of their funds through their seed phrase, all they need to do is to import their wallet into a different software to access their funds. Nothing is lost.

Your funds can only be confiscated if you use a custodial service that holds the keys to your wallet.

[anna_20]

what happens now to the money kept in those wallets?  

BTC's are not stored in wallets, but on the blockchain. Since it is a self custodial wallet, in which users are in control of their funds through their seed phrase, all they need to do is to import their wallet into a different software to access their funds. Nothing is lost.

Your funds can only be confiscated if you use a custodial service that holds the keys to your wallet.

it never ceases to amaze me 

[logfiles]

There were weapons of mass destruction in Iraq prior to the US invading that country and taking down Saddam, right?  Right, guys??

Governments are the biggest liars, the biggest thieves (with banks in second place), and unfortunately since they make the laws and enforce them and instill fear in their citizens' hearts, they get to do whatever the fuck they want to. 

Absolutely right! Everything about Government makes me want to puke. From their policies, propaganda and enforcement. If only there was a world where Governments are illegal. Maybe that would be a much better world for freedom

Governments are basically a cartel living off people's hard-earned money through tax and still use the same revenue to threaten, imprison and kill their own Citizens.

They hate everything they don’t control & it might get worse eventually. Don’t let this kind of thing scare you away from self custody though, they can’t take Bitcoin off you if they aren’t able to tell where it is. I hear there are a lot of unfortunate boating accidents happening lately.

Next they will be coming for and seizing servers of any noncustodial wallet because they are not KYCing their users 

[NotATether]

what happens now to the money kept in those wallets? 

Nothing. Samourai is a non-custodial wallet.

[Saint-loup]

Nothing. Samourai is a non-custodial wallet.

Yes but it's a software, so if you download a malicious update made by someone who eventually took control of the project now leaders of the team have been arrested, it could create a transaction and send your funds elsewhere or steal your seed. So IMO it's better to import your seed or private keys into another wallet as soon as possible, and to not download any upgrade before.

[BlackHatCoiner]

If only there was a world where Governments are illegal.

The problem with making governments illegal is that you need a government to do it. Sounds like trying to convince a person to kill themselves. 

Even free market advocates do not believe in a world with absolutely no government. Less intervention in the market is already a milestone, which we are far away from. Writing code has been proved to be particularly effective manner to resist, but it needs more than that.

Yes but it's a software, so if you download a malicious update made by someone who eventually took control of the project now leaders of the team have been arrested, it could create a transaction and send your funds elsewhere or steal your seed.

That's why you should always verify the signatures of your software! The feds have not compromised the private key(s) used to sign software releases.

[Kruw]

That's why you should always verify the signatures of your software! The feds have not compromised the private key(s) used to sign software releases.

Samourai used their PGP signed warrant canary to announce that they started complying with information requests from the feds nearly a year ago:

https://twitter.com/FuegoDelMonte/status/1664723858274807811
https://twitter.com/SamouraiWallet/status/1664738065632436224

[cryptosize]

Privacy is a fight that we can never win.

Unless you are a selfish person, even if this privacy thing is good for your daily use, have you ever thought about putting yourself in a shoe of a ruler? Will you want such to exist in your country without worries about someone funding terrorists and they are untraceable? You won't be able to sleep peacefully.

We can't say because privacy is good for us that everyone in the world will use it right, samourai wallet is a dangerous piece of technology if it gets into the wrong hands, so I like the fact that they made it stop, o my God knows how many bad people have use its features for their own reasons.

In a world where no one is completely clean it will be a disaster to have a way to move funds untraceable, even this day's people do bad things and they feel like it's good, a world without law is called lawless, and that's more like a hell on earth.

Spoken like a true freemason.

Even knowledge/books can become "dangerous" into the "wrong" hands.

Sure, if I were a ruler, I wouldn't want want the plebs to escape the 9-5 rat race, but the thing is I'm not.

[cryptosize]

Does it still sound like a conspiracy theory?

Privacy will be gone completely in a few years. We will be sharing our cars and homes with strangers. I already share my country with millions of illegals thanks to the US politics in the Middle East. Make a google search and see which country hosts the most refugees(!).

The US has been taking thousands from the Mexican border.

These things happen because of the evil globalist fucks like Klaus Schwab.

Only gullible people believe this is a tinfoil hat conspiracy theory. Most likely triple jabbed ones.

They want to bring Techno-Communism:

https://www.weforum.org/agenda/2016/06/could-capitalism-need-some-marxism-to-survive-the-4th-industrial-revolution/
https://twitter.com/mattgubba/status/1560529318857609217

It's a prerequisite to bring UBI + CBDC.

[ img width=700]https://talkimg.com/images/2024/04/25/raZA1.jpeg[/img]

Does it still sound like a conspiracy theory?

Privacy will be gone completely in a few years. We will be sharing our cars and homes with strangers. I already share my country with millions of illegals thanks to the US politics in the Middle East. Make a google search and see which country hosts the most refugees(!).

The US has been taking thousands from the Mexican border.

These things happen because of the evil globalist fucks like Klaus Schwab.

Well as someone with a family full of conspiracy theorists who somehow came to the conclusion that covid was created by WEF, this is actually a very real and serious threat to Bitcoin, what they are doing right now. And I'm sure that there are some WEF-affiliated people in governments, the IMF, World Bank and others and also rich people who attend Davos meetings who give donations to said people.

I'm sure you remember when they tried to outlaw strong encryption and then people were printing the PGP source code on t-shirts, mugs and so on.

We need to channel that resistance because ultimately, code is free speech protected by the first amendment. You can't be held criminally liable just for writing it.

Maybe your family is onto something:

https://twitter.com/EssexPR/status/1544273335881801728

They didn't create COVID (a variant of flu) per se, but they did orchestrate the COVID hysteria (mass media fearmongering, social media censoring of dissenting voices, lockdowns that destroyed our economy by increasing inflation, forced experimental vaccinations etc).

I was very sad to see Bitcoiners support all this anti-freedom measures back in 2020-2021, but I'll let it slide for a second.

And now they're attacking people's privacy...

These guys control almost all governments (not just the West, but even Russia/BRICs is a controlled opposition), they're not our friends.

The road to hell is always paved with good ("humanitarian") intentions.

[Wind_FURY]

So it goes like this:

Dark market quality, best of the best, the hardest privacy, the choice of the drugsellers, money launderers and terrorists: Monero

>

Porn addicts, weirdos, pot buyers: Litecoin MW

>

Everyone else: btc

I’m am OK with MW :d

But that's unfair to make such classifications, no? What if a normal user likes Monero or Litecoin for coffee transactions because they're faster? Or because he/she simply likes the logos of those coins?

"For everyone else", I believe Bitcoin could also be used for the utility of those other cryptocurrencies if you know what you're doing.

[mindrust]

But that's unfair to make such classifications, no? What if a normal user likes Monero or Litecoin for coffee transactions because they're faster? Or because he/she simply likes the logos of those coins?

"For everyone else", I believe Bitcoin could also be used for the utility of those other cryptocurrencies if you know what you're doing.

Obviously everybody is free to use whatever suits them the best. In fact Ltc makes more sense than the other two for coffee transactions since it is fast, cheap and is as widely adopted as btc.

I sorted them based on their privacy abilities. Monero is the most hardcore privacy oriented coin so people who demand the hardest privacy will use nothing but monero because it makes more sense. The biggest handicap of xmr is that it has low liquidity and that’s not a small problem. Especially when you want to cash out over a million usd. People who demand the best privacy still prefer to use btc over monero because of that probably.

It doesn’t have to be this or that in the end. There is a place for many alts in this market.