Unsealed: Charges against Russians blamed for Mt Gox crypto-exchange collapse

American prosecutors have unsealed an indictment against two Russians who allegedly had a hand in the ransacking and collapse of Mt Gox a decade ago, an implosion that cost the cryptocurrency exchange's thousands of customers most of their digital coins. In addition, one of the accused, 43-year-old Alexey Bilyuchenko, also was …

[Martin-73]

Russia is bad

Who knew

[IGotOut]

10 years later...

...we still seem the same mistakes made when greed meets lax security.

[pc-fluesterer.info]

Crypto is for crims an gamblers anyway, so what?

nothing to be seen here.

[iron]

Magic the Gathering Online eXchange

Why would anyone with more than a single brain cell think putting money into that was a good idea?

Or that it would have more security than a teen's CCG collection?

[Michael Wojcik]

I guess there is a difference between fantasy card games and financial services.

Of course this is something most middle-class Americans have yet to realize, though for most of them their fantasy cards are less "tap for extra mana"¹ and more "tap for buying shit you don't need".

¹Or whatever; I've never played MtG.

[druck]

No Crypo, No Crime

BTC-e was "one of the primary ways by which cyber criminals around the world transferred, laundered, and stored the criminal proceedings from their illegal activities."

"For years, Bilyuchenko and his co-conspirators allegedly operated a digital currency exchange that enabled criminals around the world – including computer hackers, ransomware actors, narcotics rings, and corrupt public officials – to launder billions of dollars,"

Without crypto, just how much harder would it be for these criminal to extract payment without getting caught?

[David 132]

Worth mentioning…

I presume all here are aware of it, but for the benefit of anyone else: “Web 3 Is Going Just Great” is to cryptocurrency and NFTs what Groklaw was to the SCO debacle. Always worth reading. Although, be careful to read it in moderation to minimize the risk of a Schadenfreude overdose!