Reply to post: Re: RE: stolen Bitcoin!

Teen bought Google ad for his scam website and made 48 Bitcoins duping UK online shoppers

Anonymous Coward
Anonymous Coward

Re: RE: stolen Bitcoin!

Close, it's just that when bitcoin are stolen they are transferred from the owners wallet (registered in the block chain) to the thiefs wallet. The wallets require a private key to move the funds, so if its moved to stoneone else's wallet they no longer have access and none else can move it either. The only way to move them back is with that private key or by rolling back the block chain to before it was stolen, removing all transactions after, this will not happen as it will cause a fork in the block chain, meaning a new bitcoin coin would exist, one for people that accepted the roll back and one for those that didn't.

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