Reply to post: Not your keys, not your crypto

Uncle Sam recovers 63.7 of 75 Bitcoins Colonial Pipeline paid to ransomware crew

Anonymous Vulture
Facepalm

Not your keys, not your crypto

I will observe that the document referenced states "The private key for the Subject Address is in the possession of the FBI in the Northern District of California."

Is it coincidence that the largest US Crypto Exchange, Coinbase is out of San Francisco, which is within the Northern District?

In my mind its pretty clear how that private key wound up with the FBI. Coinbase or another exchange turned it over. This is why leaving crypto in an exchange wallet is a risky proposition.

It's right here: https://www.coinbase.com/learn/crypto-basics/what-is-a-crypto-wallet "The Coinbase app will securely manage the rights to your private keys." Yes, and in this case it securely managed those rights to the FBI.

Even the bad guys don't have a good handle on crypto management.

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