These Upbit “hacks” are just tax evasion schemes…

24 comments

  1. tradebiz

    |Author

    These hacks are inside job. I dont really think that real hackers are just going to try to hack a wallet or exchange or whatever it is that they target.

    The owner of these exchanges will just dissapear with all the money, get a new identity or transfer everything to someone close to them. Then just buying propeties, invest in other companies and get life going.

  2. zomgitsduke

    |Author

    Except that would assume 100% of profits are taxed…

    If you’re paying taxes of $50m, you’re making probably around $200m profit. Losing $50m in a hack would mean you still have to pay taxes on $150m…

  3. nomadismydj

    |Author

    except those coins generally get black listed. if you cant cash them out after lableing said hack.. they are uuseless.

    and no dont say OTC , every desk does chain analysis on offers before they accept it for AML purposes.

  4. bitcoinblink

    |Author

    Seeing how things work with a crypto currency exchange, we can only say that to get in, you must a really tight security.

    Therefore, the hackers are extremely skilled or your theory is right.

    In both cases, this is bad for the image of crypto in general.

  5. road22

    |Author

    Does anybody look to see where the tokens go after a hack?

    Everyone states that criminals get caught using BTC as payment by governments because of a token trail.

    What about all the tokes stolen from Mt Gox?

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