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Started By
Message
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Posted on 10/2/13 at 12:40 pm to southernelite
quote:Don't tell me it was all a lie?!?
Authorities also seized $3.6 million worth of digital currency Bitcoin
I thought it wasn't possible for this to happen?
Posted on 10/2/13 at 12:55 pm to southernelite
quote:
I thought it wasn't possible for this to happen?
A government gaining physical access to unencrypted private keys that aren't backed up would make those bitcoins vulnerable to seizure.
the coins seized were likely the sites escrow coins, which were probably able to be seized along with the physical servers.
any properly protected bitcoins can not be seized.
for instance, why aren't they reporting that all of DPR's wealth has been seized? he supposed made almost $80 million on the site. so why haven't they seized whatever he has left of that?
Posted on 10/2/13 at 1:02 pm to southernelite
quote:
I thought it wasn't possible for this to happen?
if they seized the site, they likely seized the bitcoins that were in the site's escrow account, which is money held by SR until confirmation of delivery is made then released to the vendor.
possibly even bitcoins in user's wallets on the site as well
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