From a monetary policy perspective, I find this fascinating. Although I understand they can still issue debt, just not in Bitcoin.
its likley they tracked the public address(es) the coins were sent to. with most blockchain technologies the encryption keys are private but the wallet addresses are public for all to view (although there is no way to tell who the owner of the wallet is).
https://www.blockchain.com/explorer for example
https://bscscan.com/
some protocols are built to be private and will scramble the transaction throughout the blockchain to its final wallet so you cant track it but bitcoin isn't build that way.
I think other South American nations are likely to follow, if electricity is relatively cheap out there mining firms will start moving out there, china has the monopoly on mining crypto at the moment bit the will lose that with the way they constantly flip flop on crypto being legal.
I don't see how they could confiscate a "private" or Hardware wallet, maybe the wallet address was on a centralised exchanged like binance or coinbase. most people use hot wallets, this is the FBI here so they have their methods of cracking stuff im assuming it was a hot wallet on a centralised exchanged they they possibly cracked the users private keys, this could be down to a security vulnerability on the exchange side or the criminals operating system, I'm just guessing here though . May have been something as simple as contacting the exchange and informing them that they are hosting a criminals wallet, a lot of exchanges ask for KYC now when you sign up or they limit the amount you can trade without a KYC etc
Winks42
TJ Enthusiast
so if l have my crypto on a ledger in my back pocket or some other completely air gapped cold wallet they can gain access to it.
btw I lost all my hardware wallets and ledgers in a boating accident/
ok so apparently the "hackers" used coinbase wallets !!! why would anybody with the ability to coordinate a ransomware attack use the biggest centrlised exchange on the planet which also became a publcily traded company. The FBI probably got those "private" keys with a phone call.
Winks42
TJ Enthusiast
It all seems sketchy to me idk, why would you use coinbase if you are pulling off something that big, like there are thousands of other wallets that are more accessible and secure.
idk man
It’s likely they had the coins in a private wallet and were trying to wash them through a few exchanges before cashing it out. But there are a few companies built to analyzing the block chains and tracing coins/relationships.
It’s funny that people think the blockchain is good for illicit transactions, and it was early on, but now everything is traceable and all you need to do is pair a person to a wallet. After that, everything is known about how that wallet is used.
that still doesnt add up, if there were trying to "wash" why would they use an american based exchange and keep it in the form of one of the oldest and most tracable coins, there are plenty of privacy coins they could have converted it to which would have made the job a lot harder.
Ok so Mark Cuban got Rekt playing around with LP tokens last week and started crying for Defi and stable coins to be regulated !!
why would a billionair be putting money into lowcap altcoins like Titan? chances are he contributed to Titan crashing by 100% when he panicked and sold off his share after the first Whale dumped.
why would a billionair be putting money into lowcap altcoins like Titan? chances are he contributed to Titan crashing by 100% when he panicked and sold off his share after the first Whale dumped.
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I've been dabbling with Dogecoin. Just to see what I could do. It's low dollar with lots of fluctuations. Started off with $20 and net of fees I gained $350 so far. Yeah, it's peanuts. But I keep compounding the number of shares. When it goes up sell and then rebuy with all the proceeds when the price drops again. Each time, increase the number of shares owned. As long as the price stays low, my value should continue to grow steady. Each trade I increase the shares...each trade then I'll be increasing the net value when the price rises again.
Doge Is a farce as far as an investment is concerned but it's been fun so far and a time-passer activity. It's a game to see.how far I can't take a $20 bill.
Doge Is a farce as far as an investment is concerned but it's been fun so far and a time-passer activity. It's a game to see.how far I can't take a $20 bill.
