Hackers rob $70m worth of Bitcoin

TheBigShort said:
I don't doubt it, I take your word for it. But don't you think their are Russian, Iranian, Chinese, US, UK, hackers, and probably dozens more at the same thing?
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On different scales, they don't all identify talent young and send them off to special state-run schools to train them.

TheBigShort said:
The point I'm making is that US-NK relations are tense at the moment, is it any surprise that the incidence of news reporting on NK and its corrupt and threatening ways is increasing?
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They've been tense for a long time, increased reporting is a more accurate measure of what the media believe their consumers want to see, hear, or read.
 
I often observe how musing it is that some people will readily believe in conspiracy about the workings of the secret world government but dismiss out of hand a question of who really is behind the development of Bitcoin
 
john luc said:
I often observe how musing it is that some people will readily believe in conspiracy about the workings of the secret world government but dismiss out of hand a question of who really is behind the development of Bitcoin
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It doesn't matter because they have no control over it, besides holding a significant stake. They could dump the portion of that stake that we know is theirs *once* and then it would be done, and they would no longer be anonymous.
 
Bitcoin is an open source project so is transparent : which is the opposite of secret government workings.
 
As you know the author desired to remain anon.
Perhaps he/she foresaw the shortcomings of the experiment should it have a identified 'leader'.
Perhaps they wanted to avoid media attention.
Perhaps they were concerned it may impair their personal safety.

As far as how many bitcoins, there are estimates.
None have moved from their original addresses.

It would probably erode confidence in the project should he or she or they move coins.
 
Brendan Burgess said:
Good point.

Remind me again of the name and address of the person who started it
Brendan
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Bitcoin was invented.
It doesn't matter if it is the local village doctor that invented it, Genghis Khan or Adolf Hitler. It works irregardless of its creator.
Its like electricity or geometry. They just work.

Satoshi is rumoured to hold about 1 million bitcoins, which remain dormant for years now as we can see in the blockchain.
Satoshi also gave away loads for free, before disappearing. Sure they weren't worth much back then.

I believe the project is growing away from Satoshi's vision, which isn't a bad thing. It is open and, meantime the network reaches consensus, changes are made. There was never a spot for leadership in Bitcoin anyway.

Would you want to argue that he is just waiting on the sidelines to jump in, liquidate his million btc and become the richest person on the planet?
 
I would guess that should any coins move from transaction addresses within the Genesis block, the market would react quickly.
 
The imperialist capitalist media is at it again. Blaming the peaceful, democratic Republic of North Korea for bringing down a South Korean cryptocurrency exchange.

Bitcoin latest: North Korea suspected of South Korean cryptocurrency exchange hack

"The Youbit exchange shut down and collapsed into bankruptcy on Tuesday after hackers stole 17 per cent of its assets.

The Youbit hack is the latest security breach to hit bitcoin and other cryptocurrency exchanges.

Last week, almost $64bn of bitcoin was stolen by hackers who broke into the NiceHash marketplace in Slovenia.

That followed a $31m theft of rival cryptocurrency tether, last month."

There they go exaggerating everything again. $64 billion stolen. The current value would be only $64 million. Of course, the reporter may be anticipating the market value next week.

Brendan
 
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BreadKettle said:
Are we just making things up now? Was $64m not impressive enough?
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Hi BK

I am not making anything up. It's a direct quote from the capitalist lackey media - The Independent. the link is in my post above

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Brendan Burgess said:
Hi BK

I am not making anything up. It's a direct quote from the capitalist lackey media - The Independent. the link is in my post above

View attachment 2395
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And they only inflated the figure by a mere 1000% :rolleyes:

Or is it a typo on one line that you seized on?

It references the exact same incident that's the first post and title of this very thread (with correct amount)
 
Gun ordeal of family in UK's first Bitcoin heist: Armed intruders force man to transfer cyber currency in raid at TV Midsomer village home




I am confused by this.

While Bitcoin is anonymous, does the blockchain not record every transaction. So is it not possible to identify these guys when they try to spend it?

Guy Shone, chief executive of Explain The Market, said: ‘These are criminals who have likely caught on to the current popularity of Bitcoin.

‘But depending on how much they have, these coins are like being in possession of a rare painting. Trying to exchange large amounts for normal money without alerting suspicion will be very difficult.’

But presumably they can sell their Bitcoins slowly to avoid arousing suspicion? If I have a stolen painting, I can't sell it in dribs and drabs.

Brendan
 
Brendan Burgess said:
While Bitcoin is anonymous, does the blockchain not record every transaction. So is it not possible to identify these guys when they try to spend it?
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Im guessing the way to launder it is to move it from one bitcoin wallet to another in different amounts before trying to cash out of it via an exchange.
Alternatively they may have a cash buyer in the ready.

Brendan Burgess said:
But presumably they can sell their Bitcoins slowly to avoid arousing suspicion? If I have a stolen painting, I can't sell it in dribs and drabs
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True. Bitcoin acts like cash in this regard.
 
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