Two guys are chasing a Bitcoin thief

[alc]

Five pages and nobody points this out? The "Sheep marketplace scam" wallet is BTC-E's hot wallet.

http://www.reddit.com/r/SheepMarketplace/comments/1s2upf/the_sheep_market_scam_address_does_not_actually/

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[Swordsoffreedom]

Wow that dude is dedicated wonder how he will cash out

[Bitcoin Magazine]

send all of it to a bitcoin eater address and watch the price explode.

[bryant.coleman]

The thieves should just buy a lot of mining power with legit money - say 10% of the hash rate in some DC in the Arctic Circle. Then make 1 Satoshi donations to random addresses on this forum with 1000 BTC transaction fees. Statistically they would get 10% percent of the dirty money back as pristine minted coins. On top of that they will still get the 25 BTC block rewards.

Who will go for it? The thieves are greedy in the first place. Will they be ready to forget 90% of their loot? I don't think so. Even if they do something like this, people will definitely notice the BTC1,000 transaction fee. And they will also notice the new entrant in mining with a very significant and sudden 10% share of hash-rate. Traceable. 

[RocketsFlySohigh]

Five pages and nobody points this out? The "Sheep marketplace scam" wallet is BTC-E's hot wallet.

http://www.reddit.com/r/SheepMarketplace/comments/1s2upf/the_sheep_market_scam_address_does_not_actually/

haha, I remember how I laughed in December on the two clowns chasing a fairy
and chasing it while it was obvious they have trouble even "walking" in the blockchain
They didnt even bother to check for the most common addresses used by the biggest exchanges...

Just imagine you had the skillset that allowed you to hack at a tor market holding BTC. But you would suddenly have no idea on how to cover your tracks in the blockchain ( which takes little knowledge and time?).

It takes little common sense, a drop of creative thinking, 3 spoons of googling, about 12 hours of mixing through alts and mixers + sending random tiny amounts to random addresses and some patience with cashing out. No one, no matter how resourceful and determined, can tell what went where.

 I would bet that there was never more then say 30k BTC on Sheep at one time.
The real Sheep theft was probably much smaller.

[bryant.coleman]

haha, I remember how I laughed in December on the two clowns chasing a fairy

Just means that the thief immediately converted his loot to fiat, using the BTC-E exchange. Had the exchange be a bit more co-operative, then the chasers would have actually caught the thief.

[RocketsFlySohigh]

haha, I remember how I laughed in December on the two clowns chasing a fairy

Just means that the thief immediately converted his loot to fiat, using the BTC-E exchange. Had the exchange be a bit more co-operative, then the chasers would have actually caught the thief.

If that were true, my friend, and the thief was soo naive and stupid and he didnt use any of the above mentioned methods, you could just as well catch him now. The transactions are still in the blockchain, and it depends only on how much records BTC-e keeps. If someone dumped such a big amount at once, it would make it bloody obvious.

[Swordsoffreedom]

haha, I remember how I laughed in December on the two clowns chasing a fairy

Just means that the thief immediately converted his loot to fiat, using the BTC-E exchange. Had the exchange be a bit more co-operative, then the chasers would have actually caught the thief.

If that were true, my friend, and the thief was soo naive and stupid and he didnt use any of the above mentioned methods, you could just as well catch him now. The transactions are still in the blockchain, and it depends only on how much records BTC-e keeps. If someone dumped such a big amount at once, it would make it bloody obvious.

Think this argument makes the most sense you can backtrack and detect which person cashed out

[counter]

Well this is piece of news is new to me even though it isn't straight off  the presses so to speak.  I like the idea of him sending coins to users of this forum to throw them off his track lol.  Thanks for sharing this story OP.

[sana8410]

I was thinking if they stole btc and then mined btc, then pay btc plus with interest.  usually thieves wont have a good heart to that am i right?

[MeandMissNoob]

 Thanks for sharing this story OP.

Your welcome Counter!!!
So many different thoughts on the thief and also the chasers

[Lauda]

Interesting story. If the thief was smart enough to steal so many bitcoins, he should be smart enough to confuse the pursuers and cover his tracks.
Send coins to exchange --> buy altcoins --> sell --> withdraw again to some other address = profit?

[durrrr]

Interesting story. If the thief was smart enough to steal so many bitcoins, he should be smart enough to confuse the pursuers and cover his tracks.
Send coins to exchange --> buy altcoins --> sell --> withdraw again to some other address = profit?

yea to me it wouldnt be that hard it doesnt seem to cover ones tracks with bitcoin. although maybe they could trace it to the site then notice when there is another xxxx btc transaction going back into a wallet. why doesnt this person just cashout its not like anyone can see where hes from or his address cause of annonymity

[Jcw188]

What about "mixing" services could they use that to totally throw off the pursuers?  I thought that's what mixing services were for.

[durrrr]

What about "mixing" services could they use that to totally throw off the pursuers?  I thought that's what mixing services were for.

they probally dont want to be outed or dont trust a mixing service wit hundreds of thousands. also dont want to pay 50% to wash their dirty money.