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crypto crime
 

Party's over for crypto scammers who went on a spending spree after a $240 million bitcoin theft
By MICHAEL KUNZELMAN
Too long to post here,see if you can read it on AOL or Associated press.
These guys may be brilliant,but lack common sense ,go to a niteclub and throw $200K around,buy expensive cars ,even give his parents a lamborgini.

Re: crypto crime
 

The only thing crypto has any use for aside from speculative investing is criminal activity. It's a payment method that can be used for things the credit card companies won't touch. Without dark net markets it never would have caught on in the first place.

Re: crypto crime
 

During Iraq invasion of Kuwait and Russia invaded Ukraine,it is easier to take your Bitcoins with you than suite case of gold.
Neighbor countries would not take your credit cards,but they would take gold and Bitcoins

Re: crypto crime
 

Tight find agent - worthy of American Greed.

Re: crypto crime
 

I think it is during Ronald Reagon era,anyone who shows up at a luxury car showroom and pay cash ,the dealer would have to report him !
any bank transaction of $10K or more ,bank would have to report as well.

Re: crypto crime
 

That 10k limit of reporting transactions is old news - not as far back as Ronald Reagan (that's 80s) - it's more recent then that. You're good with finding the source links though...

Re: crypto crime
 

Banks still have to do currency transaction reports any time a person deposits $10k or more cash in a single transaction. Which is kind of ridiculous when you consider inflation.


In 1970 when the Bank Secrecy Act went info effect, $10,000 was a lot of money. In today's money it would be over $86,000.

Re: crypto crime
 

Same with tax return,you can only deduct $3k loss per year

Re: crypto crime
 

True that - just a way for govt. to monitor things - more so on the laundering side...

Re: crypto crime
 

These days,folks dont keep much in their bank accounts,some dont even have bank account.
Some just go to a supermarket or grocery store and cash their paychecks
I dont believe too many of us conduct large money transfer via our personal bank accounts.

Re: crypto crime
 

Average people and online sellers are two different animals. Since most money is digital numbers on a screen now, I'd argue that a person who doesn't keep much money in the bank.. just doesn't have much money.

Re: crypto crime
 

No,plenty of people who have money do not keep much in the bank,they are in mutual fund,brokerage account,real estate,or under the mattress.
People dont write much check these days so there is less reason to keep too much money in the bank account and they dont carry much cash,just credit cards.
Some have negative balance due to NSF,so they would just abandon that account.
You can pay your uitility bills at supermarket,buy a money order or cash your payroll check as well.
Oh,bank account is no longer free,it wants a minimum balance and restriction on how many withdrawals you can make free !

Re: crypto crime
 

Simple link for the read:

http://www.nbcnews.com/news/us-news/...eft-rcna596761

Re: crypto crime
 

NFT's and then memecoins kinda ruined the whole crypto scene. It's turned into a nonstop cycle of pump and dumps.
1) create crypto token
2) pay to have it promoted all over the internet
3) dump your holdings within 24 hours of the token going public

Re: crypto crime
 

Just look at the $laptop token. Launched today and it's already down by 98%. Aside from the layer 1 coins that have their own blockchain, crypto is nothing but rugpulls. The only thing that gives layer 1 coins value is the ability to buy drugs and gambling.

Re: crypto crime
 

Oil is on its way to $100,I paid $4.49 /gallon for premium gas at Exxon station.
I understand folks now prefer stable coins.

Re: crypto crime
 

What about the price of oil makes people want stablecoins?