Buttcoin

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Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

A community for hurling ordure at cryptocurrency/blockchain dweebs of all sorts. We are only here for debate as long as it amuses us. Meme stocks are also on topic.

founded 11 months ago

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dgerard@awful.systems

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All my apes (lemmy.dbzer0.com)

submitted 7 months ago by db0@lemmy.dbzer0.com to c/buttcoin@awful.systems

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[–] LesserAbe@lemmy.world 36 points 7 months ago (1 children)

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.

[–] Euphorazine@lemmy.world -1 points 7 months ago* (last edited 7 months ago) (3 children)

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.

[–] dgerard@awful.systems 20 points 7 months ago* (last edited 7 months ago)

Has there been any case where people stealing crypto got them in trouble?

lol holy shit

[–] Ajen@sh.itjust.works 16 points 7 months ago

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.

[–] self@awful.systems 11 points 7 months ago (1 children)

how quick we are to forget the outlaw rapper razzlekhan and her toilet phone

[–] Euphorazine@lemmy.world -2 points 7 months ago* (last edited 7 months ago) (1 children)

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.

[–] dgerard@awful.systems 6 points 7 months ago

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.