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Originally Posted by lezinterracial
Yea, I am wondering how they got busted. The bitcoins were transferred to Mt Gox and then on to somewhere else. At some point the bitcoins had to be turned to cash. Maybe when turned to cash and moved to personal accounts, Suspicious transaction reports were made. Would have been funny if the cops left the bitcoins in Mt Gox.
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What do you mean by "the bitcoins had to be turned to cash" ? If you mean that this had to happen in order for them to have been caught, then yes that's true. But if you mean that he had to sell bitcoin in general, I don't follow. What is so bad about taking your loot in the form of bitcoin and just sitting on it? The beauty of bitcoin, the thing that makes it a superior currency, is that nobody can seize them or track them. More info relating to this case below:
OpSec Lessons From Carl Mark Force IV
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Originally Posted by BingoBoingo
First, the United States Government is extremely capable of tracking its dollars, and its institutions are adept at noticing and investigating "inexplicable" sums of dollars that find their way into people's hands. Simply if your fiat holdings in the bank don't fit the profile of what the Government knows about you, you are going to get attention. If you raise a fuss with any institution that handles United States dollars like BitStamp or any PayPal subsidiary they are in all likelyhood going to start filing suspicious activity reports with their regulators. Especially if like Force is alleged to have done you go so far as to request they delete all your history or fake a subpoena in order to have an account unblocked.
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