Another reason to avoid crypto currency

Katbel

Katbel

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Beside all the other reasons already discussed in these forums
Today I read this
globalnews.ca

How crypto raiders tortured B.C. family with waterboarding, sex assault, in $2M heist | Globalnews.ca

When a woman answered a knock at the door of her home in Port Moody, B.C., she was met by two men in Canada Post uniforms who said they had a package to deliver.
globalnews.ca globalnews.ca
Avoid reading the article in detail if you need a quiet evening : The story contains graphic details that may be disturbing .

The robbery is one of a number of cases where B.C. police say the owners of digital assets have been targeted with real-world violence.
I wonder if it’s happening in other parts of the world as well.
 
But Herdfan has a point - crypto is anonymous, so that should provide some leads on the perpetrators who had to have found out about the family having an account, no?
Note I have no idea how crypto work in practice, so I may be missing something obvious.
 
Wow! Port Moody!!! - that's right here (They refer to Port Moody, Port Coquitlam and Coquitlam as the tri-cities). :(. It could be the same outfit that perpetrated this in Richmond and elsewhere.

Luckily the crooks had to rush off and leave all of their surveillance cameras and phones behind - so they should catch the other two.

BUT, it sounds like the 3 were hired by another person - so, unless one of them "rolls" on the "mastermind" behind these sprees (if they know them), virtually impossible for them to get their money back.

So, yes, bragging to people about having millions in crypto is as stupid as saying you have millions in cash tucked into your mattress at home. :(
 
cbum said:
But Herdfan has a point - crypto is anonymous, so that should provide some leads on the perpetrators who had to have found out about the family having an account, no?
Note I have no idea how crypto work in practice, so I may be missing something obvious.
Click to expand...
From what I read police is still investigating why it happened to several people, all of them
had big mouths ? Or it’s not so anonymous as it seems.
Nothing is completely anonymous online, you always leave a trace, if it’s not your ip address, it’s your personal computer identification, a fingerprint 🫆 of some sort.
But it would be interesting to know if it’s happening elsewhere, to be able to find a common denominator.
Btw crypto is crashing lately: it’s not upsetting me 😜
 
Katbel said:
From what I read police is still investigating why it happened to several people, all of them
had big mouths ? Or it’s not so anonymous as it seems.
Nothing is completely anonymous online, you always leave a trace, if it’s not your ip address, it’s your personal computer identification, a fingerprint 🫆 of some sort.
But it would be interesting to know if it’s happening elsewhere, to be able to find a common denominator.
Btw crypto is crashing lately: it’s not upsetting me 😜
Click to expand...
Terrorists, organized crime and the cartels love crypto as it's a very convenient means of moving massive amounts of currency around the world without a trace.

If this becomes commonplace, either everyone (not on the wrong side of the law) will abandon it, or we'll see an international consortium working on making all crypto transactions regulated to keep it as a viable currency.
 
cbum said:
Which would render the entire concept pretty much obsolete, no?
Click to expand...
I did say "international consortium", no?

It's an engineering problem - and a political one. The technical bits could be sorted easily enough, but we would need to have the governments of the world agree on the auditing practices.
 
An update to my question: yes, sadly it’s happening elsewhere!

Today reading Paul Krugman I discovered this:
“We are at one kidnapping and extortion per week. That’s quite brutal.”

“By the way, anonymity doesn’t just enable crime by crypto users, it also enables crime against them. If you possess a Bitcoin’s key, the code that unlocks it, it’s yours, no matter who you are and how you got it. In that sense, getting your hands on a Bitcoin key is similar to getting your hands on a bag full of $100 bills.

This feature has led to a wave of abductions of major crypto investors by criminals demanding their keys. Indeed, such abductions have become so common that a major recent Bitcoin conference included a daylong “counter-kidnapping” workshop, in which participants learned, among other things, how to gnaw their way through zipties.”
 
My point is: crypto is bad for everything and it’s attracting mostly criminals dealing with or stealing it from others.
I’m only interested to see how it’s evolving.
In other parts of the world they are selling canned local air, or similar bs. But if people are going to buy it,
good for the seller 😄
 
cbum said:
Just stop for a second and consider the prime motive (by far) you would want to have untraceable transactions.
Click to expand...

Because some people for whatever reason have mistrust of something. It can be government, banks, large corporations or something else.

So they do what they can so that others can’t exert control over their lives. Or have knowledge of what they are doing, even if it is perfectly legal.

There have been a number of gun manufacturers/sellers that have been debanked because of the nature of their business. So it is not that far of a stretch for the buyers/employees to be debanked as well.
 
“Things a terrorist says, for $1000, Alex…”
 
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