A German man is keeping $60 million in bitcoin from police by never revealing his password 📦

102    06 Feb 2021 16:33 by u/kek

+cryptocurrency

21 comments

20 u/None 06 Feb 2021 17:18
So, how do they "seize" bitcoin? If you know the wallet mnemonic, you can just restore the wallet and then access it. Do the police think they will keep all the bitcoin and he just won't get access to it? Do the police or media know how wallets work?
32 u/fruitybrisket 06 Feb 2021 17:33
"Do the police or media know how wallets work?" No they do not and it's wonderful.
13 u/None 06 Feb 2021 17:44
"We got this piece of paper with a QR code on it. He won't be getting his ill gotten gains as long as we have this." On one hand, I hate all this clown world shit. On the other hand, they are fucking clowns who don't even read a wiki because of how far their heads are up their ass, so maybe I worry too much.
2 u/Retrofire 06 Feb 2021 22:00
iirc with encrypted services they basically order the defense to disclose the password. If they don't, progressively larger punishments by the court.
15 u/Faust 06 Feb 2021 18:37
civil asset forfeiture is apex corruption, hope we see this evolve to colored tokens in personal property (e.g., vehicles) as well
13 u/weezkitty 06 Feb 2021 19:10
It is literally theft. The cops are the biggest criminal organization in the world
11 u/dadudemon 06 Feb 2021 17:20
He should tell me. I'll keep it from the police. We could hire a lawyer where he signs over his estate to me and I manage it. Edit - I am mostly joking. But, yeah, I definitely would manage this/invest on his behalf until he gets out. Keep 90% of those profits. BTC is doing well. But he may never get access to his BTCs ever again...sad.
2 u/None 08 Feb 2021 10:59
He can just restore the wallet as soon as he's out. All he needs to do is not forget the password and all the recovery passphrases and stuff...
7 u/topmost 06 Feb 2021 19:48
> like the ability to be anonymously owned and securely transferred not really the case anymore unless he mined it himself or something
10 u/MudBoy 06 Feb 2021 20:10
He did mine it himself. The authorities just don't like the fact he secretly used other peoples computers to do it.
1 u/BigDoode 06 Feb 2021 20:23
You can use tumblers to anonymize btc for example.
2 u/None 08 Feb 2021 11:00
Make a Monero account and move it all there, good luck with tracking that shit... Problem is though that idk what that will do to Monero's price.
7 u/ThunderMilk 06 Feb 2021 20:15
At least our minds are still sacred.
4 u/All1000wombats 06 Feb 2021 22:45
For now
3 u/PRSXFENG 07 Feb 2021 00:25
Neuralink is looking too creepy...
1 u/ThunderMilk 07 Feb 2021 02:30
For now
5 u/All1000wombats 06 Feb 2021 22:47
![](https://i.ruqqus.com/comment/q2i9/QO2TcyBjaR8)
3 u/Shitz4brainz 07 Feb 2021 00:57
This made me smile and warmed my heart. Thank you, internet stranger.
2 u/Lukginzis 15 Feb 2021 05:37
And that is why they wanna regulate it.....
2 u/None 16 Feb 2021 15:23
I didn't think the Verge could get any worst... I was wrong. What a garbage article here is the OC they use to 'write' that thing https://www.reuters.com/article/us-crypto-currency-germany-password/police-seize-60-million-of-bitcoin-now-wheres-the-password-idUSKBN2A511T