Brothers charged in novel crypto scheme potentially face decades in prison.
Case file: https://cdn.arstechnica.net/wp-content/uploads/2024/05/US-v-Bueno-Sealed-Indictment-5-15-2024.pdf
Wait, how is this a crime? Every crypto bro I know proclaims that whats on the ledger is truth. Code is law, etc etc.
Michael probably put a decimal point in the wrong place or something. He always does that. He always messes up some mundane detail.
The Michael Bolton?
I celebrate his entire catalogue.
And they were this close to getting to do 50 chicks at the same time.
Yes, the “free market” needs to follow through. People see a weakness and money being taken. This drives them away from that currency and the value diminishes.
The brothers’ online search history showed that they studied up and “took numerous steps to hide their ill-gotten gains,” the DOJ alleged. These steps included “setting up shell companies and using multiple private cryptocurrency addresses and foreign cryptocurrency exchanges” that specifically did not rely on detailed “know your customer” (KYC) procedures.
They also researched the “very crimes charged in the indictment,” the DOJ said. Among search terms found in the brothers’ history during the planning phase of the alleged scheme were phrases like “how to wash crypto” and “exchanges with no KYC.” Later, seemingly attempting to prepare for any legal consequences from the scheme, the brothers allegedly searched for things like “top crypto lawyers,” and “money laundering statute of limitations,” and “does the United States extradite to [foreign country].”
Smart enough to hack the blockchain, but still too dumb to crime.
I’m not exactly sympathetic of crypto-bros, particularly ones using bots that got exploited, but these two dummies don’t seem great either. Maybe this will at least set some precedent for regulating this shit show. Probably not, though.
“code is law” That’s the whole point of cryptocurrency shit.
So if the software gave the money to them, they can’t possibly have stolen it. By definition, they were lawful.
I’ll give you that argument as to wire fraud charges, since the whole charge is so broad that it can apply to anything, but the conspiracy to commit money laundering charge is undisputed. Dudes even did searches about that…
You can’t launder whats rightfully yours though. Googling for stuff isn’t illegal. And even if it is a crime, I’ve heard plenty of arguments that’s crypto isn’t money though.
I’m only being semi facetious.
I’m sure the way the government found out about the searches was an illegal act of the government.
