Post
Topic
Board Speculation
Re: Do you think guys the hack bitcoin from bitfinex still not sold?
by
pissedoff
on 16/10/2016, 12:24:12 UTC
Its actually a very interesting topic.
You have Millions of dollars in Bitcoin, but they are stolen.
How do you get the money?

When asked about the $1 Million in Bitcoin he hacked from PrimeDice the hacker said-

TheBitcoinStrip.com: So how do you cash out $1 million (more now) of "stolen" Bitcoins?

HufflePuff: Simple. You don't.

https://thebitcoinstrip.com/blog/interview-with-a-bitcoin-hacker.html


Certainly there is some way to spend these coins, though.
Not every single store, website, exchange is going to blacklist these coins, so there must be some way to convert them to cash/ goods.
Most money laundering operations charge 20-50% to convert your cash. Are there any similar methods for digital currencies?

You cannot simply spend $1 Million on some online store that accepts bitcoins. Also the authorities will ask for your information from the store you purchased an item from.