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Started By
Message
And So It Begins: Bitcoins seized by DEA
Posted on 6/24/13 at 11:37 am
Posted on 6/24/13 at 11:37 am
quote:
The Drug Enforcement Administration posted an Official Notification that Bitcoin (i.e. property) belonging to Eric Daniel Hughes was seized for forfeiture pursuant to 21 U.S.C. § 881, because the property was used or acquired as a result of a violation of the Controlled Substances Act (21 U.S.C. §§ 801 et seq.)
LINK
4
Posted on 6/24/13 at 11:37 am to gizmoflak
Posted on 6/24/13 at 11:43 am to gizmoflak
quote:
Taint analysis reveals that nearly 10% of those bitcoins eventually pass through an address responsible for transacting more than 419,000btc since 2012
I soooooo want to know what Taint Analysis is.
Posted on 6/24/13 at 12:05 pm to Broke
quote:
I soooooo want to know what Taint Analysis is
Posted on 6/24/13 at 12:11 pm to Broke
Posted on 6/24/13 at 12:33 pm to Broke
quote:
I soooooo want to know what Taint Analysis is.
It's an aspect of the 37476268335841 point inspection of a candidate to be officially certified as an OT 10
Posted on 6/24/13 at 12:33 pm to Broke
quote:Come on, who wouldn't want to include experience as a Taint Analyst on their resume? Just think of the conversations you could have at job interviews.
I soooooo want to know what Taint Analysis is.
But to get back on topic, I wonder what Wiki and Josh will have to say on the subject? Just how did the DEA go about seizing the Bitcoins? Will the DEA be able to back trace the Bitcoins to determine who possessed them in the past, and will they be investigated for possible crimes?
Posted on 6/24/13 at 12:37 pm to Poodlebrain
Based on the article, it sounds like it was some sort of sting where the DEA set up a Silk Road profile and baited this chump into a phony transaction.
I suspect they will say its not technically a seizure since money wasn't taken directly from the wallet. It will be an interesting debate
I suspect they will say its not technically a seizure since money wasn't taken directly from the wallet. It will be an interesting debate
Posted on 6/24/13 at 12:58 pm to gizmoflak
This is obviously a fraudulent story.
Wiki and joshie have repeatedly assured us there is no way the government can seize bitcoins.
Wiki and joshie have repeatedly assured us there is no way the government can seize bitcoins.
Posted on 6/24/13 at 1:25 pm to gizmoflak
From the comment section of your link:
IDK about all this bitcoin stuff, but the moral of the story is don't deal drugs.
quote:
It sounds pretty simple to me. He was buying drugs off of The Silkroad (from the feds) and probably wasn't smart enough to ship to a third party address. Game Over.
IDK about all this bitcoin stuff, but the moral of the story is don't deal drugs.
Posted on 6/24/13 at 1:27 pm to LSURussian
I want to see how they are going to explain that the government can't now track those Bitcoins from when they were originally mined through all who possessed them at any time. They can claim the government won't be able to place a name with the e-wallet, but that is just conjecture on their part. Given the recent stories regarding the information the NSA has been gathering, how confident can anyone be that their Bitcoin transactions have not been recorded and analyzed by government for purposes of identifying the transactors.
Posted on 6/24/13 at 1:35 pm to Poodlebrain
But they said, completely anonymous dammit.
Posted on 6/24/13 at 1:54 pm to Broke
I have to give Wiki and Josh credit for abandoning the claim of complete anonymity. The article cited in the OP did make reference to complete anonymity for the owners of some Bitcoins after the Bitcoins were merged into a block of 200 Bitcoins used in a subsequent transaction. I doubt this is true.
The government will be able to identify the party that received the Bitcoins from the guy who had some of his Bitcoins seized. That party will undergo scrutiny from the government, and its transactions will be subjected to taint analysis. If the government feels it has probable cause it will seize that party's Bitcoins, and other records of the transactions to look for evidence of criminal activities, and information about others who may have participated in such activities.
Of course if you don't use Bitcoins for liiegal activities you shouldn't have much to worry about. Other than maybe a collapse in value.
The government will be able to identify the party that received the Bitcoins from the guy who had some of his Bitcoins seized. That party will undergo scrutiny from the government, and its transactions will be subjected to taint analysis. If the government feels it has probable cause it will seize that party's Bitcoins, and other records of the transactions to look for evidence of criminal activities, and information about others who may have participated in such activities.
Of course if you don't use Bitcoins for liiegal activities you shouldn't have much to worry about. Other than maybe a collapse in value.
Posted on 6/24/13 at 2:07 pm to Poodlebrain
quote:
I have to give Wiki and Josh credit for abandoning the claim of complete anonymity.
They've abandoned a lot of their claims. It was wild wild west for a while.
Posted on 6/24/13 at 4:37 pm to Broke
Speaking of joshie, where is that little miscreant? He hasn't posted since 6/2.
I just searched his posting history & I don't see anything worth him being banned.
Maybe he got a PM and he is pouting?
I just searched his posting history & I don't see anything worth him being banned.
Maybe he got a PM and he is pouting?
Posted on 6/24/13 at 4:47 pm to LSURussian
I've noticed it too. That's why there has been a lack of bitcoin thread lately.
ETA: The gov't probably took him out. Statist Bastards™
ETA: The gov't probably took him out. Statist Bastards™
This post was edited on 6/24/13 at 4:48 pm
Posted on 6/24/13 at 4:55 pm to LSURussian
quote:I gather the drug dealers believed them.
Wiki and joshie have repeatedly assured us there is no way the government can seize bitcoins.
Well, until now.
Posted on 6/24/13 at 5:02 pm to LSURussian
quote:
Speaking of joshie, where is that little miscreant? He hasn't posted since 6/2.
He started a bunch of threads on the PT board about Adam Kokesh, I guess they were a little inflammatory. Don't know if he got banned for them tho.
Posted on 6/24/13 at 5:14 pm to Vols&Shaft83
That may explain it. I missed that.
If he started numerous threads about the same topic he may have received a private message advising him to cool it with repetitive threads. Is so, he may have gotten his jimmies rustled.
If he started numerous threads about the same topic he may have received a private message advising him to cool it with repetitive threads. Is so, he may have gotten his jimmies rustled.
Posted on 6/24/13 at 5:25 pm to Broke
quote:
I soooooo want to know what Taint Analysis is.
Taint is the % of funds received by an address that can be traced back to another address.
The data can be used to evaluate the anonymity provided by a mixing service. For example Send Coins from Address A to a Mixing service then withdraw to address B. If you can find Address A on the taint list of Address B then the mixing service has not sufficiently severed the link between your addresses. The more "taint" the stronger the link that remains.
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