Post: #1

Shit just got real:

Quote:$1.8 million worth of cryptocurrency stolen at gunpoint

You’d think that if someone wants to steal cryptocurrencies they’d do it through hacking, but apparently, some people still like to do things old school. The New York County District Attorney’s Office has charged a man with grand larceny, kidnapping, and armed robbery after he allegedly stole $1.8 million of the ether cryptocurrency at gunpoint, reports CoinDesk. The thief allegedly knew the victim possessed the ether and arranged a car service hire for them. When the car showed up to pick the victim up, the thief was waiting for him inside of it with a gun.

The thief then demanded the victim hand over his phone, physical wallet, and apartment keys and then went to the victim’s apartment, let himself in, and walked out with a box believed to contain the victim’s digital wallet. The thief then transferred $1.8 million of the victim’s ether to his account shortly after. In a statement, District Attorney Cyrus Vance said: “We can expect this type of crime to become increasingly common as cryptocurrency values surge upward.”

Be careful out there...

Post: #2

i read this the other day.
Seems so cyberpunk.

Dont flash your crypto.

There should be a "bank" service for people with lots of crypto.

Post: #3

I guess it pays to be discreet about your crypto-worth.



I was going to suggest to Kona that he should get a "B1TC01N" custom license plate for his M4 but in retrospect it might be a bad move.

Post: #4

^^^ BITCON would have worked, that just doesn't look good.

https://www12.honolulu.gov/specialplates...rch&sType=

I'm holding out for MONERO when I get my Ferrari since Samoans already got SAMSEAU or any combo of that.

Aloha!

Post: #5

(12-19-2017 02:12 AM)Kona Wrote:  https://www12.honolulu.gov/specialplates...rch&sType=

Looks like this is still available:

Post: #6

(12-19-2017 01:56 AM)Leonard D Neubache Wrote:  

This pic above probably brings up cherished memories to the police officers who busted "Rawmeo" in Thailand. I mean, a good chunk of his ill-acquired millions seem to be unaccounted for...

If you are incarcerated in a non-first world country and word is out that you are uber-rich, I guess that, far from being saved, you are massively fucked. You'd probably have to use your riches before actual incarceration, to bribe at the moment of detention.

Post: #7

Theoretically it would pay to have the lion's share in a place that only you can withdraw it from, such as a lock-box in a reputable banking establishment offshore.

Then at least you can negotiate and your captors have a good reason not only to keep you alive but to make sure you don't end up looking like you've been hit by a truck.

Post: #8

Did he get his ether back?

Post: #9

Our worst nightmare confirmed,

"GIVE ME DAT COMPUTER MONEY, WHITE BOI!!!"

Post: #10

(12-19-2017 02:12 AM)Kona Wrote:  ^^^ BITCON would have worked, that just doesn't look good.

https://www12.honolulu.gov/specialplates...rch&sType=

I'm holding out for MONERO when I get my Ferrari since Samoans already got SAMSEAU or any combo of that.

Aloha!

Post: #11

Rapper's gonna rap about 'I got 20 bitcoins on my usb, bitches blah blah' while flashing gold plated usb key in near future.

Post: #12

(12-19-2017 05:07 AM)Leonard D Neubache Wrote:  Theoretically it would pay to have the lion's share in a place that only you can withdraw it from, such as a lock-box in a reputable banking establishment offshore.

Then at least you can negotiate and your captors have a good reason not only to keep you alive but to make sure you don't end up looking like you've been hit by a truck.

Google 'multisig wallets' for one solution. Multisig works by needing multiple people to sign off on a transaction (hence the term multisig)

So for example you could have a wallet with 2 people (you and an offshore banking institute). And you'd need both yours and the bank to sign off on a transaction. You could also do it with multiple people - say 10 people have access and you need 8 signatures to send a transaction.

Other option: use of smart contracts. So smart contracts, once created, can't be changed. They're immutable. What this means is that you could in theory send all your coins to a smart contract and have the contract send you back a certain amount every month (enough to cover living expenses). Hook it up to an oracle to see if you're still alive, and if you're dead send remaining balance to heirs/wife/whoever.

I wonder how that changes the game for kidnappers and blackmailers once the victims can't touch their own money.

Post: #13

You'd have to hope to be dealing with someone smart enough to know you couldn't access the money.

It doesn't do you much good to get pistol whipped until you're retarded because you can't explain to your kidnapper what a multisig is.

Post: #14

Keeping your crypto safe is no joke.

Relevant: https://www.reddit.com/r/Monero/comments...m-comments

Post: #15

(12-25-2017 09:44 AM)Genghis Khan Wrote:  I wonder how that changes the game for kidnappers and blackmailers once the victims can't touch their own money.

Kidnap someone and force them to call the bank and authorize the transaction in order to gain their freedom.

Kidnap husband and wife.

Kidnap the person and ask their family for all the crypto as ransom. It's similar to a regular kidnapping, people will usually ask others if they can pitch in with the rescue money....except this case it will be their portion of the key.

Post: #16

Put your key into a safe deposit box in a bank abroad. Now you would have to personally get on a plane to get access. Kidnappers can still get money from you but not your crypto holdings.

Post: #17

(12-25-2017 01:15 PM)OGPUA Wrote:  Put your key into a safe deposit box in a bank abroad. Now you would have to personally get on a plane to get access. Kidnappers can still get money from you but not your crypto holdings.

If shit hits the floor....how will you liquidate easily? What if you want to day trade? Too many cons and not enough pros.

Post: #18

If shit hits the floor you're fucked yeah. But I'm a long term invester/hodler. An 80% drop would only be reason to buy more for me (unless the current landscape changes significantly).

Most traders don't have all their holdings on exchanges anyway... it's quite risky to do that. The odds of your trading account or platform getting hacked are probably higher than the odds of someone kidnapping you.

Post: #19

(12-25-2017 01:51 PM)OGPUA Wrote:  If shit hits the floor you're fucked yeah. But I'm a long term invester/hodler. An 80% drop would only be reason to buy more for me (unless the current landscape changes significantly).

Most traders don't have all their holdings on exchanges anyway... it's quite risky to do that. The odds of your trading account or platform getting hacked are probably higher than the odds of someone kidnapping you.

True, I agree with everything you said in the second paragraph.

On another note, I can't stand the uptick of retards on my LinkedIn (which I never check) these two brothers in laws who I used to work with are boasting about how much they're making in crypto.

"I MADE MORE MONEY IN CRYPTO THAN IN 8 YEARS IN CORPORATE AMERICA, 400k+!!! JUST PAID FOR MY HOME IN CASH!!"

1 - Shows that you're a low paid wage cuck (400/8=50K a year)
2 - Shows you don't know about leverage. Could have paid a low down, 30 year mortgage, reinvest the rest in crypto. Use the reinvest to pay mortgage off.
3 - Makes you look like a retard.

Now I remember why I never check LinkedIn.

Post: #20

Be careful guys, never list how much you have of certain coins on the internet, these days its really easy to find someones identity

Post: #21

(12-25-2017 03:30 PM)Cattle Rustler Wrote:  

(12-25-2017 01:51 PM)OGPUA Wrote:  If shit hits the floor you're fucked yeah. But I'm a long term invester/hodler. An 80% drop would only be reason to buy more for me (unless the current landscape changes significantly).

Most traders don't have all their holdings on exchanges anyway... it's quite risky to do that. The odds of your trading account or platform getting hacked are probably higher than the odds of someone kidnapping you.

True, I agree with everything you said in the second paragraph.

On another note, I can't stand the uptick of retards on my LinkedIn (which I never check) these two brothers in laws who I used to work with are boasting about how much they're making in crypto.

"I MADE MORE MONEY IN CRYPTO THAN IN 8 YEARS IN CORPORATE AMERICA, 400k+!!! JUST PAID FOR MY HOME IN CASH!!"

1 - Shows that you're a low paid wage cuck (400/8=50K a year)
2 - Shows you don't know about leverage. Could have paid a low down, 30 year mortgage, reinvest the rest in crypto. Use the reinvest to pay mortgage off.
3 - Makes you look like a retard.

Now I remember why I never check LinkedIn.

Yes, crypto or not I'll never understand people who flaunt their wealth to strangers and near strangers like coworkers. I used to work with a dude who bragged to me a few times about how he and his wife saved up over a million USD doing DOD contracting in Afghanistan for a few years.

"Hey do you know any millionaires, Bucky?"

I shrug.

"Well, you're looking at one!"

I guess I don't look like I know any kidnappers.

Post: #22

If I'm kidnapped by a group psychotic psychopaths with weapons I think I'd rather give them what they want then try to explain I need 8 people to approve the transaction. I'd gladly lose a million+ over my life.

Post: #23

these are hundreds of ways in which the cryptocoins can and often really get stolen.

this is just one