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South Korean Police Lose Seized Crypto by Posting Password Online

71 points| WarOnPrivacy | 6 hours ago |gizmodo.com

18 comments

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josephh|5 hours ago

Rumor has it that it was an inside job and they intentionally shared the photo online as an alibi.

jandrese|5 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.

october8140|4 minutes ago

"oops i posted the password online."

prawn|3 hours ago

About $5m if anyone was only interested in the rough amount.

yieldcrv|3 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...

kulahan|1 hour 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?

xvxvx|6 hours ago

[deleted]

wongarsu|5 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

retrac|4 hours ago

100 BTC might convince you otherwise.

jandrese|5 hours ago

It’s not fake money, it’s a fake speculative asset.

metalman|5 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.