this post was submitted on 09 Apr 2024
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Maybe off topic, but can you realistically "steal" crypto? It's just a system where you need a key to authorize transactions. It's not tied to a person, it's tied to a key.
It's like, "who you are" part of authentication doesn't exist, so therefore who you are wouldn't define ownership.
Can you really "steal" money? It's just paper with numbers written on it, just because the person who possesses the paper has changed doesn't mean the paper has.
Yeah, but if you steal my money, the centralized state can punish you and demand restitution. It's like when Seth Greene had his NFT phished, he had no legal recourse to get it back.
Has there been any case where people stealing crypto got them in trouble? The only thing I've seen is where people create rug pulls and they get charged with fraud, so legal repercussions against an organization.
lol holy shit
Sam Bankman-Fried was sentenced to 25 years for stealing crypto. I'm sure other people have been charged too, but someone who gets caught stealing $100 of crypto probably won't make the news.
how quick we are to forget the outlaw rapper razzlekhan and her toilet phone
Interesting. I used that video to look up the FBIs report, so the two listed got charged with money laundering. It says they "seized" the remaining Bitcoin, but it didn't specifically mention it got returned to bitfinex? Considering it was stolen in 2016 and recovered in 2022.
I also wonder how that affects sentencing and/or restitution. Considering they stole $70m of securities but it was recovered at $3.6b.
Also, I wonder how the charges would have changed if they didn't attempt to obfuscate it. Like would they just get wire fraud and using a computer to commit a crime? Maybe their charges were more than what was covered in the article. I didn't see a charge listed for actual theft. Maybe they couldn't easily prove they did the hack but could prove they laundered the crypto so that's all they prosecuted on.
there's a jurisdictional issue on the hack, it's not even clear it was a crime committed in the US.
the money laundering was straightforward though.
Yes, you can steal crypto?
Deconstruct the ledger or what have you, but real world people have a concept of ownership that is sufficient to define theft.
there used to be coiners who advocated precisely this theory of ownership, but we tend to hear these days from the captains of industry who desperately seek out the statist boot to lick when their apes are cryptographically reassigned
Other peoples crypto? No. My crypto? Yes.