Bitcoin Crime Wave Breaks Out in NYC

[Wilikon]

NYC firefighter kidnapped, robbed and stabbed by crypto thieves

Dwayne Richards, on the 10th anniversary of 9/11

Bitcoin, the technology that’s meant to revolutionize the way we think of money, is simultaneously revolutionizing the way we get mugged.

A New York City firefighter named Dwayne Richards was recently held up, stabbed and robbed by thieves who were after his bitcoin, the Observer has learned. From what we’ve discovered, Mr. Richards, who is a firefighter in lower Manhattan, was mugged and left bleeding after meeting the robbers under the pretense of exchanging bitcoin for cash in Williamsburg, Brooklyn. He’s alive, well, and refusing comment.

Typically, when we hear of bitcoin-related crimes, it’s a white-collar affair—millions of dollars going missing from an overseas exchange, or a plucky enthusiast finding himself in an international money-laundering scheme.

But robbing someone of his bitcoin in person can be an astonishingly effective way to make off with vast sums of capital quickly and untraceably. And Mr. Richards is far from the first to fall victim to bitcoin-related brutality.

Stagecoach robberies

Dean Katz is a one-man bitcoin exchange. Every day, he drives around New York buying and selling bitcoin, on call to a large customer base. He’s like a weed delivery guy, only instead of delivering drugs, he’s bringing people the future of financial transactions.

One day, he received a call from someone who had heard about his services, either online or through a referral, who wanted to visit him out in Queens at a secure location.

“He called because he wanted to gamble during the Super Bowl, which is pretty common,” Mr. Katz told the Observer.

When the person arrived, he held Mr. Katz up at gunpoint and forced him to transfer $8,500 worth of bitcoin. Then, the robber took $3,500 in cash and split.



http://observer.com/2015/02/bitcoin-crime-wave-breaks-out-in-nyc/

[BitMos]

poooooorrr victim... booo booo... let's refund him with the state dollars he deserves it.


WRONG.

RISKS = REWARDS

He played the street, he lost.

and if he worked for CCA would he have gotten the same attention? no ... because he fit them all. black, public servant... haahha. bo propa full speed.

[pedrog]

Hope they catch those guys, they will probably continue with same MO, NYC bitcoin sellers beware.

[BitMos]

Hope they catch those guys, they will probably continue with same MO, NYC bitcoin sellers beware.

clear, terrorists. and buyers

[TECSHARE]

Too bad only criminals have guns in NY. Maybe he could have protected himself. If I ever met some one to sell my Bitcoins in person (I don't), I would most certainly be armed. Unfortunately the citizens of New York do not have the right to self defense.

[pereira4]

Thats why I tell nobody about bitcoin, not even me owning some but talking about it.. fuck that shit, i'll keep it to myself.

[ajareselde]

NYC firefighter kidnapped, robbed and stabbed by crypto thieves

Dwayne Richards, on the 10th anniversary of 9/11

Bitcoin, the technology that’s meant to revolutionize the way we think of money, is simultaneously revolutionizing the way we get mugged.

A New York City firefighter named Dwayne Richards was recently held up, stabbed and robbed by thieves who were after his bitcoin, the Observer has learned. From what we’ve discovered, Mr. Richards, who is a firefighter in lower Manhattan, was mugged and left bleeding after meeting the robbers under the pretense of exchanging bitcoin for cash in Williamsburg, Brooklyn. He’s alive, well, and refusing comment.

Typically, when we hear of bitcoin-related crimes, it’s a white-collar affair—millions of dollars going missing from an overseas exchange, or a plucky enthusiast finding himself in an international money-laundering scheme.

But robbing someone of his bitcoin in person can be an astonishingly effective way to make off with vast sums of capital quickly and untraceably. And Mr. Richards is far from the first to fall victim to bitcoin-related brutality.

Stagecoach robberies

Dean Katz is a one-man bitcoin exchange. Every day, he drives around New York buying and selling bitcoin, on call to a large customer base. He’s like a weed delivery guy, only instead of delivering drugs, he’s bringing people the future of financial transactions.

One day, he received a call from someone who had heard about his services, either online or through a referral, who wanted to visit him out in Queens at a secure location.

“He called because he wanted to gamble during the Super Bowl, which is pretty common,” Mr. Katz told the Observer.

When the person arrived, he held Mr. Katz up at gunpoint and forced him to transfer $8,500 worth of bitcoin. Then, the robber took $3,500 in cash and split.



http://observer.com/2015/02/bitcoin-crime-wave-breaks-out-in-nyc/

Terrible story, hope the thief is some dumbo and they manage to trace the coins to him, and make him pay for what he has done. Its interesting to see how fast low level scums are being educated about
new technology, and how fast they adapt to find profits. Hope the poor guy recovers fast, and doesnt loose the interest in bitcoin judging by this unfortunate event.
There should be fundrasing organised, to gather what was stolen and give it to poor dude, it would be an awesome gesture from bitcoin comunity, come on whales, you can do this!

cheers

[cheekychap]

Maybe cops should do this, and bust asses of people who go about robbing people like these.

[TaunSew]

A lot of these unionized firefighters in big cities are making up to $250K a year, with OT.   There are allegations that it may had been a drug dealing operation, hence his refusal to comment.

[Snipe85]

I read about cases of old people being attacked and killed in their homes, because the robbers hoped to find some money in the house. They ended up with just a few bills, the money you can earn in a month. These things happen because people are worse than animals and a life is sometimes worth to them less than $100.

Bitcoins are becoming more and more like cash and will be stolen the way cash is - up close and personal.

[ajareselde]

I read about cases of old people being attacked and killed in their homes, because the robbers hoped to find some money in the house. They ended up with just a few bills, the money you can earn in a month. These things happen because people are worse than animals and a life is sometimes worth to them less than $100.

Bitcoins are becoming more and more like cash and will be stolen the way cash is - up close and personal.

¸

Dont know how it realy is in US, but here in eastern europe people are robbing anything they can , not for the drugs or greed, but mainly because of poverty.
There has been many cases where people robbed stores at night, carrying out just baby diapers and stuff like that. Its all because the middle class is becoming more and more represented, and whats left is deep poverty or greatly wealthy population. Oh the democracy..

[grendel25]

Yep, that's a risky deal to do in NYC.  I'd think NYC would have plenty of nice public places though where people would be less likely to do a mugging in front of others.. .but it is NYC.

[pattu1]

When I first saw the title, I thought it was a satire article!
I guess we have to ensure that trades are done only in public places, where you can easily attract attention.

[jaysabi]

When I first saw the title, I thought it was a satire article!
I guess we have to ensure that trades are done only in public places, where you can easily attract attention.

Well, the title is a little facetious. This incident hardly marks a "crime wave." What I don't understand is with how cheap it is to sell online, why anyone would want the hassle or risk of an in-person trade.

[ajareselde]

When I first saw the title, I thought it was a satire article!
I guess we have to ensure that trades are done only in public places, where you can easily attract attention.

Well, the title is a little facetious. This incident hardly marks a "crime wave." What I don't understand is with how cheap it is to sell online, why anyone would want the hassle or risk of an in-person trade.

Every story has two sides, and it just may be that the news carryed out story as they were being told, but the truth may be entirely different.
When u think about it for a little bit, the dude was in remote place with bitcoins, its possible that its not the cash he was exchanging for bitcoin , but rather something else that he doesnt want to admit.

cheers

[jaysabi]

When I first saw the title, I thought it was a satire article!
I guess we have to ensure that trades are done only in public places, where you can easily attract attention.

Well, the title is a little facetious. This incident hardly marks a "crime wave." What I don't understand is with how cheap it is to sell online, why anyone would want the hassle or risk of an in-person trade.

Every story has two sides, and it just may be that the news carryed out story as they were being told, but the truth may be entirely different.
When u think about it for a little bit, the dude was in remote place with bitcoins, its possible that its not the cash he was exchanging for bitcoin , but rather something else that he doesnt want to admit.

cheers

Could be, but if it's drugs as some people are alluding to, that's really immaterial to me. Drugs are a victim-less crime, but stabbing and robbery are not. If it wasn't a cash trade, that would make sense as to why he would be doing an in-person trade, and why he's not talking about it. Although I don't want to speculate too much into it.

[desertfox470]

I fell really bad for that guy, but I feel he should of been more secure about it. Why would someone travel with $8,500 in btc and $3,500 in cash and not take precautions. I think I would of asked to meet in a busy public place, and also asked how much he wants in btc. If he said $8,500 I would be very nervous although I have never heard of someone stealing btc's in person before.

[username18333]

I read about cases of old people being attacked and killed in their homes, because the robbers hoped to find some money in the house. They ended up with just a few bills, the money you can earn in a month. These things happen because people are worse than animals and a life is sometimes worth to them less than $100.

Bitcoins are becoming more and more like cash and will be stolen the way cash is - up close and personal.

¸

Dont know how it realy is in US, but here in eastern europe people are robbing anything they can , not for the drugs or greed, but mainly because of poverty.
There has been many cases where people robbed stores at night, carrying out just baby diapers and stuff like that. Its all because the middle class is becoming more and more represented, and whats left is deep poverty or greatly wealthy population. Oh the democracy..

In a world where the things we need and use go bad, sharing comes naturally. The hoarder ends up sitting alone atop a pile of stale bread, rusty tools, and spoiled fruit, and no one wants to help him, for he has helped no one. Money today, however, is not like bread, fruit, or indeed any natural object. It is the lone exception to nature’s law of return, the law of life, death, and rebirth, which says that all things ultimately return to their source. Money does not decay over time, but in its abstraction from physicality, it remains changeless or even grows with time, exponentially, thanks to the power of interest.

(Red colorization mine.)

Massive “accumulation of wealth” (i.e., “hoard[ing]” [Eisenstein])—in this case, by “the rich” (Pente)—begets otherwise-indomitable economic scarcity.