South Korean Police Lose Seized Crypto by Posting Password Online(gizmodo.com)
70 pointsby WarOnPrivacy6 hours ago4 comments
  • josephh5 hours ago
    Rumor has it that it was an inside job and they intentionally shared the photo online as an alibi.
    • jandrese5 hours ago
      This is also the rumor every time a crypto exchange is “hacked” and loses all of the stored crypto. It was never obvious if the people running the exchanges were incompetent or criminal, but I suspect it was a combination of both in many cases.
      • mikkupikku2 hours ago
        If you're set on doing some shit and know you won't be able to hide that it was done, arranging for it to be an "accident" is a pretty obvious ploy. Like, small children even do this.
        • tartoranan hour ago
          I agree. Especially when there’s a lot of money involved, anything shared online is a liability.
  • prawn3 hours ago
    About $5m if anyone was only interested in the rough amount.
  • yieldcrv3 hours ago
    why does the article say it would be difficult to liquidate those tokens instead of just posting the address so we can see what they did?

    I think this is a symptom of general ignorance and decade-plus-long aversion to understand crypto. Its a choice and it works extremely well for the person that now has custody.

    okay lets narrow it down, it mentions the token name - approximately 4 million Pre-Retogeum, or PRTG - so we can just look up that token on the network its deployed on, and look for large recent transactions

    Edit: I’m looking at this address now, based on receiving the 4,000,000 tokens 1,000+ days and sending them out 2 days ago

    https://etherscan.io/address/0x8efa52827c229c434fe9c915b2d99...

    • kulahan42 minutes ago
      I'm asking because I genuinely am ignorant. Can't you just put all the tokens into a mixer, create a new account, send them to that account, and then you're completely invisible from there on out? Or even make a bunch of new accounts? Put $10k in each or something like that?
  • xvxvx6 hours ago
    [flagged]
    • wongarsu5 hours ago
      I would agree that most crypto is not very good money. It's more like a speculative investment that just happens to be easy to exchange

      I don't think fake money is the right term though. It's just as much money as the US dollar or the Euro, and it isn't pretending to be some other currency (like say a fake bill). It just happens to be not very good at the job of being money

    • retrac4 hours ago
      100 BTC might convince you otherwise.
    • jandrese5 hours ago
      It’s not fake money, it’s a fake speculative asset.
    • metalman5 hours ago
      fake? Money is a human construct, all of it, pulled out of wherever we got the "easter bunny" from, literaly, something something, rabbit hopps around hiding candy, something something, this →£¢€¥$← thing is exchangable for candy

      the something somethings, are arbitrary rules to describe a construct, and I guarnatee that if we were to go and ask a group of smaller humans about this whole bunny thing, some of them would take pitty on us and bring us up to speed on the whole thing, with all, ALL the conviction of a government economist, same goes for crypto, believe in the bunny, get some candy.

      • avadodin5 hours ago
        Good crypto(like BTC) is about pm-backed fiat level of reality. A bit less because the compute has no intrinsic value.

        Modern fiat is literally just paper(or an electronic record) with numbers printed on it that the government certifies as "real money". they can print a quintillion more the next day or just tell you that it is all fake now that the bad guys are out of office. shitcoin-tier.