2018 Crypto News

STOLEN MT Gox Bitcoin Enters Exchanges

Staff of Kryptous .com

 

From 2011 to 2014 almost 1 Million Bitcoins were stolen or hacked from Mt. Gox.

The statute of limitations are up on some of the hacked coins sitting for almost 7 years in the wallets used to steal the Bitcoin and some huge wallets that ended up possibly buying them shortly after each hack was done.

Over the years some of the coins surfaced usually in Russia connected to big Bitcoin players. The owners got arrested.

Well, now it’s 7 years since coins started being hacked from Mt. Gox.

That means the wallet owners with the stolen coins can’t be prosecuted due to time limitations in jurisdictions such as the USA .

So will the wallet owners start to dump the stolen coins on exchanges?

Then what is the legal status of the coins?

Since Bitcoin has a public ledger that tracks publicly the creation and then the movement of every Bitcoin ever created, it’s just a matter of time before wallet owners with the coins start dispersing the hot Bitcoin to be sold on legitimate exchanges.

Then the world realizes anonymous Bitcoin is not anonymous at all.

It’s only anonymous as long as a wallet owner keeps coins and wallets out of exchanges.

So expect big crypto news events the next 4 years as the hacked Bitcoin from Mt Gox starts to enter exchanges.

Expect Bitcoin mules to be arrested for being hired to sell coins stolen that are now transferred to innocent mules that will be used to bring the million coins into exchanges.

So beware of deals that are too good to pass on.

Hot coins can now start to enter the market place and the dummies trying to cash out Bitcoin they bought cheap through Craigslist or other sites from mysterious people they would meet at a local mall who only wanted CASH to transfer coins to you, become common news stories.

We are now entering the age when the issue of if a bitcoin coin is stolen becomes an item of concern for everyone investing in crypto so beware.

Crypto wallets are not anonymous if you try to cash out through a legitimate crypto exchange.