Exmo Bitcoin exchange chief executive kidnapped in Kiev

Re:Exmo Bitcoin exchange chief executive kidnapped in Kiev by mschuster91 on Thursday December 28, 2017 @08:22PM (#16026743)

Quite likely that governments will force exchange operators to get appropriate security. Hell if I had the keys (or were in a position to be used as "leverage" for them in a kidnapping) to a Bitcoin exchange, I would surround me with a bunch of ex-military guards.

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Re:Exmo Bitcoin exchange chief executive kidnapped in Kiev by mooneater on Thursday December 28, 2017 @08:43PM (#16026864)

Now (depending on the country) how do you trust the ex-military guards, if what they are guarding is worth far more than their salaries?

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Re:Exmo Bitcoin exchange chief executive kidnapped in Kiev by michaelt on Friday December 29, 2017 @06:44AM (#16028990)

Be in a country with the rule of law.

Structure things so if they betray you, they have a very high chance of getting detected and needing to go on the run - e.g. access control records, CCTV and whatnot.

Then hire guards who would have to sacrifice a lot if they went on the run permanently. e.g. guards with partners, school-age children, extended family nearby, friends, and community ties like membership of voluntary organisations, churches or clubs.

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Re:Exmo Bitcoin exchange chief executive kidnapped in Kiev by larrykwg on Thursday December 28, 2017 @08:51PM (#16026890)

While that sound smart and plausible, I would assume that there is some solution to that problem, otherwise how would private security work at all?

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Re:Exmo Bitcoin exchange chief executive kidnapped in Kiev by ceejayoz on Thursday December 28, 2017 @09:46PM (#16027124)

A security guard selling the Mona Lisa has to figure out how to get rid of it. Bitcoin's quite a bit easier in that regard.

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Re:Exmo Bitcoin exchange chief executive kidnapped in Kiev by knocte on Friday December 29, 2017 @06:55AM (#16029032)

This is bullshit, exchanges with the most rudimentary technology will not keep their funds under a single private key held by one single person at all times. Multi-sig exists.

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Re:Exmo Bitcoin exchange chief executive kidnapped in Kiev by mschuster91 on Friday December 29, 2017 @08:22AM (#16029338)

> Multi-sig exists.

Multi-sig does not prevent anyone from kidnapping me and distributing a video "sign us all your btc funds or this dude is going to get tortured".

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Re:Exmo Bitcoin exchange chief executive kidnapped in Kiev by knocte on Friday December 29, 2017 @10:48AM (#16029999)

Well sure, but the executives of the exchange signing that transaction would actually be a violation of the law, because they are custodians of their customers' funds and not all customers may agree in saving their executive.

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