South African investment firm vanishes with $3.6B in Bitcoin

indiatoday.in

38 points·mgh2··9 comments

This has been discussed before: https://news.ycombinator.com/item?id=27606039

I'm not sure there's any new information since that article was written.

Yeah, they were stalling through their lawyer, but he has since then quit.

No other information has been forthcoming as of yet.

Yeah, i almost feel sorry for those poor Bitcoin investors. until there are no more stupid people there will always be someone "smarter" to take their money. Bravó!

It's like an epidemic of fraud

Exactly, if people trusted legitimate financial markets like the NASDAQ and invested their money with accredited, well regulated investors like the former NASDAQ chairman Bernie Madoff, we could avoid losing billions of dollars from fraud and instead bump it back up to tens of billions of dollars.

At least then we can be sure what's left of the stolen money that the fraudster didn't spent and kept in accounts under their name in participating countries can be returned.

Well, to answer your sarcasm, at least Madoff was found guilty and goes to prison.

Bitcoin frauds rarely results in prison sentences.

Madoff stole from rich people. Bitcoin frauds prey on poor people.

Yeah well the comparison did not stand in the first place.

Yeah and moreover, the fraction of money invested in regulated public markets that’s been stolen/defrauded must be minuscule compared to the degree of theft and fraud in cryptocurrency.

Reply on news.ycombinator.com