Bitstamp's stolen BTC on the move

[Parazyd]

I love this shit!

The miners must be pretty happy too, with all the tx fees

[elasticband]

https://www.cryptocoinsnews.com/launder-stolen-bitcoins/

18,000 from one address -> tumbler -> 18,000 at different addresses -> 18,000 at one address

Good luck finding my hacked coins suckers!

good luck mixing 19k btc in a quick timeframe

[Jammalan the Prophet]

https://www.cryptocoinsnews.com/launder-stolen-bitcoins/

18,000 from one address -> tumbler -> 18,000 at different addresses -> 18,000 at one address

Good luck finding my hacked coins suckers!

Price dropped because all the Bitstamp coins were dumped.

whatever......

[Tzupy]

If I were the hacker, I wouldn't try to sell the tumbled coins on an exchange (with KYC) for quite some time, too risky.
Instead, I would send them to multiple altcoin exchanges (that have no KYC) and pump up some less traceable alts.
Another possibility is to sell some of the tumbled BTC to fences on localbitcoins.

[Parazyd]

If I were the hacker, I wouldn't try to sell the tumbled coins on an exchange (with KYC) for quite some time, too risky.
Instead, I would send them to multiple altcoin exchanges (that have no KYC) and pump up some less traceable alts.
Another possibility is to sell some of the tumbled BTC to fences on localbitcoins.

Personally, I'd keep the BTC and sell in case of needing fiat. I mean, the guy(s) hacked Bitstamp, they know what they're doing and what Bitcoin is.

[sgk]

If I were the hacker, I wouldn't try to sell the tumbled coins on an exchange (with KYC) for quite some time, too risky.
Instead, I would send them to multiple altcoin exchanges (that have no KYC) and pump up some less traceable alts.
Another possibility is to sell some of the tumbled BTC to fences on localbitcoins.

Correct.

If I had that many hacked coins, I would sell no more than 10 coins a day, and would prefer to sell them offline or use localbitcoins.com

[Jammalan the Prophet]

can somebody give 1 example of successfully tracked stolen coins ?

[elasticband]

can somebody give 1 example of successfully tracked stolen coins ?

http://bitcoinmagazine.com/4273/ozcoin-hacked-stolen-funds-seized-and-returned-by-strongcoin/

[Jammalan the Prophet]

can somebody give 1 example of successfully tracked stolen coins ?

http://bitcoinmagazine.com/4273/ozcoin-hacked-stolen-funds-seized-and-returned-by-strongcoin/

354.06 BTC are still missing, and will likely never be found, but this nevertheless leaves OzCoin with a much softer blow than what anyone expected.

successfully

[jbrnt]

Hackers will split those coins into 20,000 addresses and it will be impossible to trace them. Good luck to bitstamp if they want to trace them.

[elasticband]

can somebody give 1 example of successfully tracked stolen coins ?

http://bitcoinmagazine.com/4273/ozcoin-hacked-stolen-funds-seized-and-returned-by-strongcoin/

354.06 BTC are still missing, and will likely never be found, but this nevertheless leaves OzCoin with a much softer blow than what anyone expected.

successfully

better than nothing....

[Jammalan the Prophet]

can somebody give 1 example of successfully tracked stolen coins ?

http://bitcoinmagazine.com/4273/ozcoin-hacked-stolen-funds-seized-and-returned-by-strongcoin/

354.06 BTC are still missing, and will likely never be found, but this nevertheless leaves OzCoin with a much softer blow than what anyone expected.

successfully

better than nothing....

I don't care about the coins about the "hackers" about bitstamp...

What I am asking all those people who claim that the coins will be traced no matter what to come here and show me how they traced all the coins here:
https://bitcointalk.org/index.php?topic=83794.0

ps.

But not by hackers!

Someone reported the first theft of four physical bitcoins in a recent burglary.

Oh I forgot to mention out of the first batch of coins I purchased I had given a few away, 4 of them had been physically stolen in a burglary, the guys had been later caught and some of the items recovered, jewelry etc,, but no bitcoins not sure if they got spent/sold or what

I find it novel to point out that this is about the only way physical bitcoins can be stolen... same as cash.

The four physical bitcoins are active and legitimate, so nobody needs to worry about their own coins being at risk.

[BitCoinNutJob]

Let's hope they will dump in btc-e  and all my bids  get filled. Or maybe bitstamp, have orders there too. 

Even though the rest of us dont have close contact with the likes of BTC-e i bet bitstamp have been in contact with all the big exchanges and are ready to do deals with them.

[BlindMayorBitcorn]

https://www.cryptocoinsnews.com/launder-stolen-bitcoins/

18,000 from one address -> tumbler -> 18,000 at different addresses -> 18,000 at one address

Good luck finding my hacked coins suckers!

And....they're gone

[elasticband]

https://www.cryptocoinsnews.com/launder-stolen-bitcoins/

18,000 from one address -> tumbler -> 18,000 at different addresses -> 18,000 at one address

Good luck finding my hacked coins suckers!

And....they're gone

they are not gone, thye have just moved to several new addresses

[sandykho47]

I just someone sold more than 250 bitcoin at BTC-e just now
But, still not enough to drive down bitcoin price

[onemorebtc]

Never used inputs.io, but I'm 100% sure about what I'm saying about Instawallet. They had a wallet, and when you withdrew, you would get BTC out of random addresses.

you are right, i never used instawallet but always thought they where something like a brainwallet...

[HeliKopterBen]

Let's hope they will dump in btc-e  and all my bids  get filled. Or maybe bitstamp, have orders there too. 

I doubt they will sell the coins on the same exchange they stole them from.   

[bigtimespaghetti]

Let's hope they will dump in btc-e  and all my bids  get filled. Or maybe bitstamp, have orders there too. 

I doubt they will sell the coins on the same exchange they stole them from.   

This does present an interesting point though- for example would an exchange have claim to the stolen funds after some time has passed and the coin has (legitimately) changed hands many times after the thief dumped them. I suppose not, as that could destroy confidence.

Are we moving closer to white/grey/black market coins?

[Chalkbot]

wtf you guys.  I can't believe you're talking about blacklisting these coins, as if that would be a good thing. No.

That would be one giant leap toward the traditional banking cartel. When you receive payment for something, do you want to have to check to see if any of those bits you got were from these stolen coins (or the thousands of others)? Were they within a couple transactions of these coins? Comb the entire transaction history to make sure they are not blacklisted somewhere? That sounds like a huge burden. Are you going to pay to have someone else do that for you? Those are the only 2 choices.

You want every coin to have special rules attached to it? Oh, this coin can't go to Bitstamp, and that one can't go to XXXX. That makes some coins worth more than others, and it means you're taking a risk every time you buy coins which you can't verify the history of. Fungibility is one of the key properties of bitcoin that make it better than the alternatives. You should not throw it away to maybe make this one guy's life more difficult.

Yeah, it sucks that these coins were stolen, and it's looking like the person who perpetrated the act may in fact be a bad guy. But it's time to shift the paradigm folks. These coins were stolen because it was possible to steal them. Bitstamp made that possible. Traditional money services have high fees to cover this shit, and bitcoin has low fees because it's secure, and you don't need to cover this shit if you're transacting properly. If you do something dumb, it's on you, we're not charging the consumers for the mistakes and inefficiencies of the money transmitters anymore. That's the point of bitcoin.

Bitstamp is in the process of rewriting their entire system from the ground up, to prevent this sort of thing happening again. Can you imagine Visa doing this after the Target hack? No, they keep doing the same thing, because you guys keep paying for their losses. There's no point in them changing anything. Bitstamp had suck ass security, a hacker fined them 5 million dollars for it. Their security (supposedly) will improve as a result. Gox died as a result, and we'd all have been better off if it happened way sooner than it did. Incompetence is not an option in this space, unless you have a shit ton of money to burn.