$25,000 in Bitcoin Seized from Alleged Software Scam Operator

[redsn0w]

"A cache of bitcoins and litecoins has been seized by federal law enforcement officials as part of an investigation into alleged counterfeit software sales and distribution.

Approximately 105 BTC and 900 LTC were cited in a civil forfeiture that included more than $7m, hundreds of gold and silver bars and coins, and a number of luxury items including sports cars, wedding rings and a diamond-encrusted Rolex."

I've discovered this news yesterday at  :  http://www.coindesk.com/25000-bitcoin-seized-alleged-software-scam/

What do you think guys ?

[noma]

Great , now this will be followed by another auction probably, which might mean more dumps happening.
EDIT: My bad, just realized its 25K USD and not btc.

[adworker]

"Approximately 105 BTC and 900 LTC were cited in a civil forfeiture that included more than $7m, hundreds of gold and silver bars and coins, and a number of luxury items including sports cars, wedding rings and a diamond-encrusted Rolex."

Not much Bitcoin seized compared to the value of other stuff seized...

[redsn0w]

Justice be served, its not because someone is using Bitcoin or any other crypto that makes them a saint being attacked by the evil state while committing crimes.

Yes of course, every scammer should pay.

"Approximately 105 BTC and 900 LTC were cited in a civil forfeiture that included more than $7m, hundreds of gold and silver bars and coins, and a number of luxury items including sports cars, wedding rings and a diamond-encrusted Rolex."

Not much Bitcoin seized compared to the value of other stuff seized...

I know it is not much, but it is always a scam and they should pay.

[SargeR33]

That is pretty insane. This is interesting though. If a wallet is secure and the owner claims to forget the password or private key, what happens? Would they be forced to give fiat to the value of BTC? Will the BTC be destroyed? They cannot sell a public address nor get the bitcoin out of them. I didn't read the article, just a general statement about this topic.

[mitus-2]

That is pretty insane. This is interesting though. If a wallet is secure and the owner claims to forget the password or private key, what happens? Would they be forced to give fiat to the value of BTC? Will the BTC be destroyed? They cannot sell a public address nor get the bitcoin out of them. I didn't read the article, just a general statement about this topic.

legally speaking, if you are sentenced to pay, it doesn't matter if you lost the priv key or whatever, you have to pay even using other methods (cash).

[medUSA]

This looks likes someone getting caught for selling software keys for bitcoin.
We have quite a few of these sellers here

[flipstyle]

Lol before even reading the full article, I already knew the culprit was chinese.  They thrive on counterfeiting sales.

[bryant.coleman]

Lol before even reading the full article, I already knew the culprit was chinese.  They thrive on counterfeiting sales.

A reason for that is the support they receive from high ranking Chinese officials. The Chinese government don't want foreign software firms to profit from software sales within China. So tactically, they encourage counterfeiting.

[BADecker]

This is so good. Did you notice the indictment document? It is the USA against the property. No human is listed. Why not? Is there a separate indictment somewhere else against the man?

I'm not going to look into details of the case, but, what if the USA doesn't really have a case against the man who did all the bad stuff? What if the guy is a crook, but there is no actual harm or damage anyone will come forward and say that he did to them?

The point is this. If he is a crook, but if nobody comes against him personally in court, he should be able, as a man, to require his property returned to him.

Is the USA a man who has interest in his property? Is the USA a man who can get on the stand and speak the interest that they have into the record? Probably not.

The guy is a crook. But if he knows his common law, and how to force the courts into a direct, man to man, court of record, and if no human being gets up to speak a claim against him, he should be able to get "his" property returned to him. It is the kind of law-land we live in.

Where would the justice be in something like this if it happened that way? The justice would be that the USA as a government is continually throwing all kinds of Americans into prison for little or nothing. Many of these are innocent of any crime whatsoever, or guilty of some petty "crime" like smoking a joint - that really isn't any crime at all. This USA action is making the police bolder so that they often act harmfully towards the general populace - police brutality in the extreme - often including murder.

Something like this guy getting his property back would start to take the power away from the USA as a police government. It would start to get the people into the habit of acting personally, man to man, against crooks who rob them, rather than acting as corporations. It would be a step towards stopping the USA from harming all kinds of folks with all the thousands of goofy laws that government has on the books, that are really methods to take away the freedom of the people.

If this guy won a common law, man-to-man suit against the U.S. government, it would start to bring freedom back to America.

[Q7]

Digital currency tied to software scam

Now this is one statement that I don't like to hear. It might give wrong perception to people especially people who are new to bitcoin.

[yatsey87]

This looks likes someone getting caught for selling software keys for bitcoin.
We have quite a few of these sellers here

Hmm... it's likely only a matter of time before someone from this forum gets investigated or prosecuted because of this sort of piracy.

Digital currency tied to software scam

Now this is one statement that I don't like to hear. It might give wrong perception to people especially people who are new to bitcoin.

There's nothing we can do about them sort of people. How much fiat money is taken in software scams?

[AtheistAKASaneBrain]

More bad press for Bitcoin, undeserved bad press as always, but still better than nothing i guess.

[Flep182]

More bad press for Bitcoin, undeserved bad press as always, but still better than nothing i guess.

Nah, don't think this is going to tip the scales. It's a form of money, like the USD. Nobody is leaving the USD when a Colombian druglord is arrested with heaps of cash laying around

[sniveling]

More bad press for Bitcoin, undeserved bad press as always, but still better than nothing i guess.

Nah, don't think this is going to tip the scales. It's a form of money, like the USD. Nobody is leaving the USD when a Colombian druglord is arrested with heaps of cash laying around

The scammer had most of his money stored in cash and gold. 105 BTC and 900 LTC is nothing.

[Mr Crabs]

More bad press for Bitcoin, undeserved bad press as always, but still better than nothing i guess.

Nah, don't think this is going to tip the scales. It's a form of money, like the USD. Nobody is leaving the USD when a Colombian druglord is arrested with heaps of cash laying around

But you're forgetting that's not how the fickle public work. They believe the media propaganda and associate bitcoin more with bad things than positive. It's unfortunate but it's just the way it is.

[Flep182]

To be honest I think the swings up and down do more damage than some criminals being seized

[redsn0w]

More bad press for Bitcoin, undeserved bad press as always, but still better than nothing i guess.

Nah, don't think this is going to tip the scales. It's a form of money, like the USD. Nobody is leaving the USD when a Colombian druglord is arrested with heaps of cash laying around

But you're forgetting that's not how the fickle public work. They believe the media propaganda and associate bitcoin more with bad things than positive. It's unfortunate but it's just the way it is.

They are thinking that FIAT value are more secure and "positive" than bitcoin, but I think a lot of people wrong. It is obviously the mass-media aren't helping (not all but the but the 70-80%) the bitcoin "image".

[Bobsurplus]

I wonder when that rolex will come up in auction.

[maku]

I just wonder what will happen with that cryptos? Police is going to use it somehow? You can't just put back bitcoin into circulation... Any thoughts?