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donaldbathe
02-10-2017, 04:10 PM
i was chatting online with a cryptocurrency expert and this is what he told me when i asked him as to why when hackers steal like 300 million dollars or more they usually never tend to be living in the united states or canada,
ot really my area of expertise, but I will give it a shot.
I cannot speak for why the hackers are presumably in a country that is classified as third world, presumably because of lax security laws. However, most countries are signatory to Interpol and other law enforcement agencies and can extradite alleged criminals.
Where stolen bitcoins go, I have no idea, however, it is fair to assume they will try to either exchange and/or buy things so as to convert back to fiat. Some people / organizations may discount the value of the bitcoins to convert it back to fiat.
I am not privy to any secret financial authority that monitors hacked activity, however, all bitcoins brought/sold in the United States are tracked (as required by law) by all the legal exchanges and/or companies dealing in bitcoin. What inferences they (the law enforcement authorities) can get out of it, is anyone’s guess.
One would ideally never hack from the same country one is in, it is just way to easier to get in trouble with the local laws.

given his opinion, could someone say or prove him otherwise? why would only third world countries have lax security laws but not the u.s. or canada????????? rsvp

shades
02-10-2017, 04:54 PM
i was chatting online with a cryptocurrency expert and this is what he told me when i asked him as to why when hackers steal like 300 million dollars or more they usually never tend to be living in the united states or canada,
ot really my area of expertise, but I will give it a shot.
I cannot speak for why the hackers are presumably in a country that is classified as third world, presumably because of lax security laws. However, most countries are signatory to Interpol and other law enforcement agencies and can extradite alleged criminals.
Where stolen bitcoins go, I have no idea, however, it is fair to assume they will try to either exchange and/or buy things so as to convert back to fiat. Some people / organizations may discount the value of the bitcoins to convert it back to fiat.
I am not privy to any secret financial authority that monitors hacked activity, however, all bitcoins brought/sold in the United States are tracked (as required by law) by all the legal exchanges and/or companies dealing in bitcoin. What inferences they (the law enforcement authorities) can get out of it, is anyone’s guess.
One would ideally never hack from the same country one is in, it is just way to easier to get in trouble with the local laws.

given his opinion, could someone say or prove him otherwise? why would only third world countries have lax security laws but not the u.s. or canada????????? rsvp

I thing that one of the concurrent conditions that are partly a factor in labelling a country as "third World" is that those countries do not have enough resources or infrastructure to deal with "secondary" internal problems such as net security, regulation, graft, bribery, etc. They are far too concerned with protecting whatever power structure of the ruling elites against popular revolt to waste time on such things as what the elites there probably control and use to their advantage anyway. It is a human endemic condition that wherever there are lands mired in poverty and hardship, there will be unscrupulous brigands who put themselves in power. And.... like flies to poop, they attract other unscrupulous personalities and pirates to their surround.

captainsilverton
02-10-2017, 11:16 PM
hackers from the eastern Europe region to Russian fed, is a good chance..
how about bitfinex themselves????and do you believe storechains data???haaaa

AnotherDave
02-11-2017, 12:19 AM
. . . I am not privy to any secret financial authority that monitors hacked activity, however, all bitcoins brought/sold in the United States are tracked (as required by law) by all the legal exchanges and/or companies dealing in bitcoin. . .


Where can we find this 'required law' that you mention? What special trading privileges can you show that "legal" exchanges have that you, me, and some guy behind a tree don't have?

Are you aware that EVERY Bitcoin is documented and verified by Bitcoin client software that anyone can download for free?

Can you cite ANY instance where Bitcoin has been hacked?